Eastern Asia: Polyethylene Binder Market 2024

Polyethylene Binder Market Size in Eastern Asia

The East Asian polyethylene binder market reached $X in 2022, surging by 2.9% against the previous year. Overall, consumption showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the market value increased by 8.9% against the previous year. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Polyethylene Binder Production in Eastern Asia

In value terms, polyethylene binder production reached $X in 2022 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 8.7%. Over the period under review, production attained the peak level at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Polyethylene Binder Exports

Exports in Eastern Asia

In 2022, approx. X tons of polyethylene or polypropylene binder or baler (agricultural) twines were exported in Eastern Asia; dropping by -5.4% compared with 2021 figures. Over the period under review, exports saw a pronounced descent. The pace of growth was the most pronounced in 2018 when exports increased by 5.5%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, polyethylene binder exports declined slightly to $X in 2022. Overall, exports recorded a perceptible slump. The pace of growth appeared the most rapid in 2017 when exports increased by 29% against the previous year. Over the period under review, the exports reached the maximum at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

China dominates exports structure, amounting to X tons, which was near 96% of total exports in 2022. Taiwan (Chinese) (X tons) followed a long way behind the leaders.

China was also the fastest-growing in terms of the polyethylene or polypropylene binder or baler (agricultural) twines exports, with a CAGR of -3.7% from 2012 to 2022. Taiwan (Chinese) (-4.6%) illustrated a downward trend over the same period. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest polyethylene binder supplier in Eastern Asia, comprising 93% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 4.5% share of total exports.

In China, polyethylene binder exports plunged by an average annual rate of -2.9% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, rising by 4.6% against the previous year. Overall, the export price showed a slight expansion. The most prominent rate of growth was recorded in 2017 when the export price increased by 28% against the previous year. The level of export peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per ton), while China stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+4.0%).

Polyethylene Binder Imports

Imports in Eastern Asia

After three years of decline, supplies from abroad of polyethylene or polypropylene binder or baler (agricultural) twines increased by 1.1% to X tons in 2022. In general, imports, however, continue to indicate a noticeable slump. The pace of growth was the most pronounced in 2017 when imports increased by 5.5% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, polyethylene binder imports stood at $X in 2022. Over the period under review, imports, however, saw a pronounced shrinkage. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

Japan dominates imports structure, resulting at X tons, which was approx. 84% of total imports in 2022. It was distantly followed by Hong Kong SAR (X tons), generating a 9.9% share of total imports. South Korea (X tons) took a minor share of total imports.

Imports into Japan decreased at an average annual rate of -2.7% from 2012 to 2022. At the same time, South Korea (+16.3%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +16.3% from 2012-2022. By contrast, Hong Kong SAR (-5.5%) illustrated a downward trend over the same period. While the share of Japan (+4.5 p.p.) and South Korea (+3.1 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Hong Kong SAR (-2.6 p.p.) displayed negative dynamics.

In value terms, Japan ($X) constitutes the largest market for imported polyethylene or polypropylene binder or baler (agricultural) twines in Eastern Asia, comprising 81% of total imports. The second position in the ranking was held by Hong Kong SAR ($X), with a 7.7% share of total imports.

In Japan, polyethylene binder imports plunged by an average annual rate of -3.1% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Hong Kong SAR (-5.9% per year) and South Korea (+14.6% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, growing by 5.5% against the previous year. In general, the import price recorded a relatively flat trend pattern. The level of import peaked at $X per ton in 2014; afterwards, it flattened through to 2022.

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 South Korea ($X per ton), while Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (-0.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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