Eastern Asia: Expansible Polystyrene Market 2024

Expansible Polystyrene Market Size in Eastern Asia

In 2021, the East Asian expansible polystyrene market was finally on the rise to reach $X after two years of decline. In general, consumption, however, saw a perceptible downturn. The level of consumption peaked at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Expansible Polystyrene Production in Eastern Asia

In value terms, expansible polystyrene production expanded significantly to $X in 2021 estimated in export price. In general, production, however, saw a pronounced shrinkage. The level of production peaked at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Expansible Polystyrene Exports

Exports in Eastern Asia

In 2021, after two years of decline, there was significant growth in shipments abroad of expansible polystyrene in primary forms, when their volume increased by 13% to X tons. In general, exports, however, recorded a pronounced curtailment. The volume of export peaked at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, expansible polystyrene exports skyrocketed to $X in 2021. Overall, exports, however, recorded a pronounced decrease. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Taiwan (Chinese) was the main exporter of expansible polystyrene in primary forms in Eastern Asia, with the volume of exports resulting at X tons, which was approx. 53% of total exports in 2021. China (X tons) ranks second in terms of the total exports with a 29% share, followed by South Korea (13%). The following exporters - Japan (X tons) and Hong Kong SAR (X tons) - together made up 4.5% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Japan (with a CAGR of +4.4%), while the other leaders experienced mixed trends in the exports figures.

In value terms, the largest expansible polystyrene supplying countries in Eastern Asia were Taiwan (Chinese) ($X), China ($X) and South Korea ($X), together comprising 96% of total exports.

Taiwan (Chinese), with a CAGR of +0.9%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per ton, jumping by 31% against the previous year. In general, the export price, however, continues to indicate a slight decrease. Over the period under review, the export prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while Japan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+1.2%), while the other leaders experienced a decline in the export price figures.

Expansible Polystyrene Imports

Imports in Eastern Asia

In 2021, supplies from abroad of expansible polystyrene in primary forms decreased by -25.9% to X tons, falling for the third year in a row after two years of growth. In general, imports continue to indicate a pronounced reduction. The most prominent rate of growth was recorded in 2018 when imports increased by 70% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2021, the growth of imports failed to regain momentum.

In value terms, expansible polystyrene imports reached $X in 2021. Over the period under review, imports continue to indicate a pronounced reduction. The pace of growth was the most pronounced in 2017 with an increase of 52%. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

China (X tons) and South Korea (X tons) represented roughly 72% of total imports in 2021. Hong Kong SAR (X tons) held the next position in the ranking, followed by Japan (X tons). All these countries together took near 24% share of total imports. Democratic People's Republic of Korea (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by South Korea (with a CAGR of +33.1%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, China ($X) constitutes the largest market for imported expansible polystyrene in primary forms in Eastern Asia, comprising 51% of total imports. The second position in the ranking was taken by South Korea ($X), with a 21% share of total imports. It was followed by Hong Kong SAR, with a 14% share.

From 2012 to 2021, the average annual growth rate of value in China stood at -5.2%. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (+29.3% per year) and Hong Kong SAR (-6.6% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2021, surging by 42% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The level of import peaked at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was China ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+2.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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