Eastern Asia: Plaster Market 2024

Plaster Market Size in Eastern Asia

The East Asian plaster market expanded modestly to $X in 2022, with an increase of 3.7% against the previous year. Over the period under review, consumption showed a prominent increase. Over the period under review, the market reached the peak level in 2022 and is likely to continue growth in the immediate term.

Plaster Production in Eastern Asia

In value terms, plaster production dropped slightly to $X in 2022 estimated in export price. In general, production, however, posted a buoyant increase. The most prominent rate of growth was recorded in 2015 when the production volume increased by 39% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Plaster Exports

Exports in Eastern Asia

In 2022, plaster exports in Eastern Asia contracted dramatically to X tons, declining by -25.6% compared with 2021 figures. In general, exports saw a perceptible contraction. The pace of growth was the most pronounced in 2014 with an increase of 59%. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, plaster exports fell to $X in 2022. Total exports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +60.6% against 2020 indices. The growth pace was the most rapid in 2021 when exports increased by 71%. As a result, the exports attained the peak of $X, and then declined in the following year.

Exports by Country

In 2022, China (X tons) was the key exporter of plaster, achieving 81% of total exports. It was distantly followed by South Korea (X tons), mixing up a 15% share of total exports. Japan (X tons) took a minor share of total exports.

From 2012 to 2022, average annual rates of growth with regard to plaster exports from China stood at -6.1%. At the same time, South Korea (+8.5%) and Japan (+5.3%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +8.5% from 2012-2022. South Korea (+11 p.p.) and Japan (+2 p.p.) significantly strengthened its position in terms of the total exports, while China saw its share reduced by -13.3% from 2012 to 2022, respectively.

In value terms, China ($X) remains the largest plaster supplier in Eastern Asia, comprising 72% of total exports. The second position in the ranking was taken by South Korea ($X), with a 17% share of total exports.

In China, plaster exports increased at an average annual rate of +6.3% over the period from 2012-2022. In the other countries, the average annual rates were as follows: South Korea (+5.9% per year) and Japan (+1.6% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, jumping by 26% against the previous year. Overall, the export price continues to indicate a prominent expansion. The growth pace was the most rapid in 2018 when the export price increased by 39%. Over the period under review, the export prices hit record highs in 2022 and is expected to retain growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+13.2%), while the other leaders experienced a decline in the export price figures.

Plaster Imports

Imports in Eastern Asia

For the fourth year in a row, Eastern Asia recorded growth in overseas purchases of plaster, which increased by 28% to X tons in 2022. Over the period under review, imports saw a significant expansion. The most prominent rate of growth was recorded in 2014 with an increase of 206% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, plaster imports rose slightly to $X in 2022. In general, imports recorded resilient growth. The most prominent rate of growth was recorded in 2021 when imports increased by 50% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

South Korea represented the main importer of plaster in Eastern Asia, with the volume of imports finishing at X tons, which was approx. 77% of total imports in 2022. It was distantly followed by China (X tons), generating a 21% share of total imports.

South Korea was also the fastest-growing in terms of the plaster imports, with a CAGR of +42.3% from 2012 to 2022. At the same time, China (+26.7%) displayed positive paces of growth. While the share of South Korea (+50 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of China (-2.4 p.p.) displayed negative dynamics.

In value terms, South Korea ($X) and China ($X) constituted the countries with the highest levels of imports in 2022.

South Korea, with a CAGR of +18.5%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review.

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per ton, which is down by -18.2% against the previous year. In general, the import price faced a abrupt downturn. The most prominent rate of growth was recorded in 2018 an increase of 104% against the previous year. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while South Korea totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (-12.9%).

Source: IndexBox Platform

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