Eastern Asia: Market for Rigid Tubes, Pipes and Hoses of Polymers of Vinyl Chloride 2024

Market Size for Rigid Tubes, Pipes and Hoses of Polymers of Vinyl Chloride in Eastern Asia

The East Asian market for rigid tubes, pipes and hoses of polymers of vinyl chloride contracted to $X in 2022, which is down by -2% against the previous year. The market value increased at an average annual rate of +1.9% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Production of Rigid Tubes, Pipes and Hoses of Polymers of Vinyl Chloride in Eastern Asia

In value terms, vinyl chloride polymer rigid pipes production contracted slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.6% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 with an increase of 13% against the previous year. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Exports of Rigid Tubes, Pipes and Hoses of Polymers of Vinyl Chloride

Exports in Eastern Asia

Vinyl chloride polymer rigid pipes exports totaled X tons in 2022, surging by 8.3% against 2021. The total export volume increased at an average annual rate of +2.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 with an increase of 28%. The volume of export peaked in 2022 and is likely to continue growth in years to come.

In value terms, vinyl chloride polymer rigid pipes exports skyrocketed to $X in 2022. Total exports indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +3.8% 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 +83.4% against 2016 indices. The pace of growth was the most pronounced in 2021 with an increase of 29%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

Exports by Country

China prevails in exports structure, resulting at X tons, which was approx. 89% of total exports in 2022. It was distantly followed by South Korea (X tons), creating a 4.6% share of total exports. The following exporters - Taiwan (Chinese) (X tons) and Japan (X tons) - together made up 5.9% of total exports.

From 2012 to 2022, average annual rates of growth with regard to vinyl chloride polymer rigid pipes exports from China stood at +1.7%. At the same time, Taiwan (Chinese) (+28.4%) and South Korea (+9.4%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +28.4% from 2012-2022. Japan experienced a relatively flat trend pattern. From 2012 to 2022, the share of Taiwan (Chinese) and South Korea increased by +3.6 and +2.3 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest vinyl chloride polymer rigid pipes supplier in Eastern Asia, comprising 86% of total exports. The second position in the ranking was held by South Korea ($X), with a 5.2% share of total exports. It was followed by Taiwan (Chinese), with a 5.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China totaled +4.0%. The remaining exporting countries recorded the following average annual rates of exports growth: South Korea (+7.5% per year) and Taiwan (Chinese) (+26.3% per year).

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, increasing by 12% against the previous year. Over the last decade, it increased at an average annual rate of +1.6%. As a result, the export price attained the peak level and is likely to continue 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 (+2.2%), while the other leaders experienced a decline in the export price figures.

Imports of Rigid Tubes, Pipes and Hoses of Polymers of Vinyl Chloride

Imports in Eastern Asia

In 2022, purchases abroad of rigid tubes, pipes and hoses of polymers of vinyl chloride increased by 1.1% to X tons for the first time since 2018, thus ending a three-year declining trend. Over the period under review, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of 10% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, vinyl chloride polymer rigid pipes imports rose rapidly to $X in 2022. The total import value increased at an average annual rate of +3.7% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 when imports increased by 47%. The level of import peaked at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Hong Kong SAR (X tons) represented the main importer of rigid tubes, pipes and hoses of polymers of vinyl chloride, generating 59% of total imports. China (X tons) ranks second in terms of the total imports with a 15% share, followed by Macao SAR (9.8%), Democratic People's Republic of Korea (5.8%) and South Korea (5.2%). Japan (X tons) took a minor share of total imports.

Hong Kong SAR experienced a relatively flat trend pattern with regard to volume of imports of rigid tubes, pipes and hoses of polymers of vinyl chloride. At the same time, Japan (+8.0%), South Korea (+5.0%), China (+4.2%) and Macao SAR (+1.8%) displayed positive paces of growth. Moreover, Japan emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +8.0% from 2012-2022. By contrast, Democratic People's Republic of Korea (-3.5%) illustrated a downward trend over the same period. China (+4.4 p.p.), Japan (+2.2 p.p.) and South Korea (+1.8 p.p.) significantly strengthened its position in terms of the total imports, while Democratic People's Republic of Korea and Hong Kong SAR saw its share reduced by -3.1% and -6% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Hong Kong SAR ($X) and Japan ($X) constituted the countries with the highest levels of imports in 2022, with a combined 85% share of total imports.

Japan, with a CAGR of +6.9%, 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 2022, picking up by 7.7% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.9%. The most prominent rate of growth was recorded in 2013 when the import price increased by 42%. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per ton), while Macao SAR ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Macao SAR (+3.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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