Eastern Asia: Market for Polyethylene with a Specific Gravity of Less than 0.94, in Primary Forms 2024

Market Size for Polyethylene with a Specific Gravity of Less than 0.94, in Primary Forms in Eastern Asia

The East Asian market for polyethylene with a specific gravity of less than X, in primary forms shrank to $X in 2021, falling by -9.1% against the previous year. The market value increased at an average annual rate of +3.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2020, and then contracted in the following year.

Production of Polyethylene with a Specific Gravity of Less than X, in Primary Forms in Eastern Asia

In value terms, production of polyethylene with a specific gravity of less than X, in primary forms declined to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.9% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2017 when the production volume increased by 18% against the previous year. The level of production peaked at $X in 2020, and then dropped in the following year.

Exports of Polyethylene with a Specific Gravity of Less than 0.94, in Primary Forms

Exports in Eastern Asia

In 2021, overseas shipments of polyethylene with a specific gravity of less than X, in primary forms were finally on the rise to reach X tons after five years of decline. In general, exports showed a relatively flat trend pattern. Over the period under review, the exports of attained the peak figure at X tons in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, exports of polyethylene with a specific gravity of less than X, in primary forms skyrocketed to $X in 2021. Over the period under review, exports showed a relatively flat trend pattern. The level of export peaked at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

South Korea represented the main exporting country with an export of around X tons, which reached 56% of total exports. It was distantly followed by Japan (X tons), China (X tons), Taiwan (Chinese) (X tons) and Hong Kong SAR (X tons), together mixing up a 44% share of total exports.

South Korea experienced a relatively flat trend pattern with regard to volume of exports of polyethylene with a specific gravity of less than X, in primary forms. At the same time, China (+9.2%), Japan (+6.1%) and Taiwan (Chinese) (+3.1%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +9.2% from 2012-2021. By contrast, Hong Kong SAR (-13.3%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Japan, China and Taiwan (Chinese) increased by +7.1, +5.8 and +1.9 percentage points, respectively.

In value terms, South Korea ($X) remains the largest polyethylene with a specific gravity of less than X supplier in Eastern Asia, comprising 56% of total exports. The second position in the ranking was held by China ($X), with a 17% share of total exports. It was followed by Japan, with a 15% share.

In South Korea, exports of polyethylene with a specific gravity of less than X, in primary forms remained relatively stable over the period from 2012-2021. In the other countries, the average annual rates were as follows: China (+13.2% per year) and Japan (+0.9% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2021, increasing by 30% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The level of export peaked at $X per ton in 2014; however, from 2015 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 China ($X per ton), while Japan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+3.6%), while the other leaders experienced mixed trends in the export price figures.

Imports of Polyethylene with a Specific Gravity of Less than 0.94, in Primary Forms

Imports in Eastern Asia

In 2021, supplies from abroad of polyethylene with a specific gravity of less than X, in primary forms decreased by -9.2% to X tons, falling for the second year in a row after three years of growth. Total imports indicated a prominent increase from 2012 to 2021: its volume increased at an average annual rate of +5.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -11.4% against 2019 indices. The most prominent rate of growth was recorded in 2017 when imports increased by 27% against the previous year. The volume of import peaked at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, imports of polyethylene with a specific gravity of less than X, in primary forms surged to $X in 2021. The total import value increased at an average annual rate of +5.5% from 2012 to 2021; however, the trend pattern 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 dominates forms structure, finishing at X tons, which was approx. 83% of total imports in 2021. Taiwan (Chinese) (X tons) took the second position in the ranking, followed by South Korea (X tons). All these countries together took near 14% share of total imports. Hong Kong SAR (X tons) took a minor share of total imports.

China was also the fastest-growing in terms of the polyethylene with a specific gravity of less than X, in primary forms imports, with a CAGR of +7.7% from 2012 to 2021. At the same time, South Korea (+7.5%) and Taiwan (Chinese) (+1.6%) displayed positive paces of growth. By contrast, Hong Kong SAR (-13.5%) illustrated a downward trend over the same period. From 2012 to 2021, the share of China increased by +13 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported polyethylene with a specific gravity of less than X, in primary forms in Eastern Asia, comprising 83% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with an 8.7% share of total imports. It was followed by South Korea, with a 5.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China totaled +7.5%. In the other countries, the average annual rates were as follows: Taiwan (Chinese) (+1.3% per year) and South Korea (+5.8% per year).

Import Prices by Country

In 2021, the import price in Eastern Asia amounted to $X per ton, growing by 41% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The level of import peaked at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

Average prices varied noticeably amongst the major importing countries. In 2021, major importing countries recorded the following prices: in South Korea ($X per ton) and Taiwan (Chinese) ($X per ton), while Hong Kong SAR ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+0.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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