Eastern Asia: Fluoropolymers Market 2024

Fluoropolymers Market Size in Eastern Asia

In 2021, the East Asian fluoropolymers market decreased by -0.5% to $X, falling for the second year in a row after two years of growth. The market value increased at an average annual rate of +2.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Fluoropolymers Production in Eastern Asia

In value terms, fluoropolymers production expanded modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2016 with an increase of 35%. As a result, production attained the peak level of $X. From 2017 to 2021, production growth remained at a lower figure.

Fluoropolymers Exports

Exports in Eastern Asia

In 2021, shipments abroad of fluoropolymers increased by 23% to X tons, rising for the second year in a row after two years of decline. Total exports indicated a remarkable increase from 2012 to 2021: its volume increased at an average annual rate of +6.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +32.5% against 2019 indices. The most prominent rate of growth was recorded in 2017 with an increase of 26%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the immediate term.

In value terms, fluoropolymers exports skyrocketed to $X in 2021. Total exports indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +5.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, China (X tons) represented the major exporter of fluoropolymers, committing 63% of total exports. Japan (X tons) took a 29% share (based on physical terms) of total exports, which put it in second place, followed by South Korea (5.1%). Hong Kong SAR (X tons) followed a long way behind the leaders.

China was also the fastest-growing in terms of the fluoropolymers exports, with a CAGR of +8.7% from 2012 to 2021. At the same time, South Korea (+7.4%) and Japan (+4.3%) displayed positive paces of growth. By contrast, Hong Kong SAR (-5.5%) illustrated a downward trend over the same period. China (+10 p.p.) significantly strengthened its position in terms of the total exports, while Hong Kong SAR and Japan saw its share reduced by -3.4% and -6.1% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

South Korea, with a CAGR of +11.2%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2021, picking up by 17% against the previous year. Over the period under review, the export price, however, showed a mild contraction. The pace of growth was the most pronounced in 2016 an increase of 22%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+4.8%), while the other leaders experienced mixed trends in the export price figures.

Fluoropolymers Imports

Imports in Eastern Asia

In 2021, supplies from abroad of fluoropolymers was finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. The total import volume increased at an average annual rate of +5.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, fluoropolymers imports skyrocketed to $X in 2021. Total imports indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +5.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X tons) and South Korea (X tons) were the key importers of fluoropolymers in 2021, reaching near 43% and 29% of total imports, respectively. Japan (X tons) held the next position in the ranking, followed by Taiwan (Chinese) (X tons). All these countries together took approx. 26% share of total imports. Hong Kong SAR (X tons) held a little share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by China (with a CAGR of +9.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), South Korea ($X) and Japan ($X) appeared to be the countries with the highest levels of imports in 2021, together comprising 82% of total imports.

China, with a CAGR of +8.2%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2021, picking up by 14% against the previous year. In general, the import price showed a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Japan ($X per ton), while China ($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 (+2.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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