Indonesia: Expansible Polystyrene Market 2024

Expansible Polystyrene Market Size in Indonesia

The Indonesian expansible polystyrene market rose sharply to $X in 2021, picking up by 5.4% against the previous year. Overall, consumption showed a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Expansible Polystyrene Production in Indonesia

In value terms, expansible polystyrene production rose notably to $X in 2021 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the production volume increased by 41%. Over the period under review, production attained the peak level at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Expansible Polystyrene Exports

Exports from Indonesia

In 2021, exports of expansible polystyrene in primary forms from Indonesia skyrocketed to X tons, jumping by 1,117% against 2020. In general, exports enjoyed a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, expansible polystyrene exports soared to $X in 2021. Overall, exports posted significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The Philippines (X tons) was the main destination for expansible polystyrene exports from Indonesia, accounting for a 90% share of total exports. Moreover, expansible polystyrene exports to the Philippines exceeded the volume sent to the second major destination, Singapore (X tons), more than tenfold. The third position in this ranking was held by Hong Kong SAR (X tons), with a 2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the Philippines totaled +65.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+129.9% per year) and Hong Kong SAR (+31.3% per year).

In value terms, the Philippines ($X) emerged as the key foreign market for expansible polystyrene in primary forms exports from Indonesia, comprising 90% of total exports. The second position in the ranking was taken by Singapore ($X), with a 4.8% share of total exports. It was followed by Hong Kong SAR, with a 2.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the Philippines amounted to +70.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+121.0% per year) and Hong Kong SAR (+35.5% per year).

Export Prices by Country

The average expansible polystyrene export price stood at $X per ton in 2021, increasing by 25% against the previous year. Overall, export price indicated pronounced growth from 2012 to 2021: its price increased at an average annual rate of +2.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, expansible polystyrene export price increased by +74.9% against 2018 indices. The most prominent rate of growth was recorded in 2019 an increase of 70% against the previous year. The export price peaked in 2021 and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+18.4%), while the prices for the other major destinations experienced more modest paces of growth.

Expansible Polystyrene Imports

Imports into Indonesia

In 2021, approx. X tons of expansible polystyrene in primary forms were imported into Indonesia; rising by 17% on 2020. Over the period under review, imports saw strong growth. The most prominent rate of growth was recorded in 2016 with an increase of 47%. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, expansible polystyrene imports surged to $X in 2021. Overall, imports saw a resilient increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Taiwan (Chinese) (X tons), Japan (X tons) and Singapore (X tons) were the main suppliers of expansible polystyrene imports to Indonesia, together comprising 74% of total imports. These countries were followed by Vietnam, South Korea, Thailand, China and Malaysia, which together accounted for a further 21%.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +138.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Taiwan (Chinese) ($X), Singapore ($X) and Japan ($X) appeared to be the largest expansible polystyrene suppliers to Indonesia, together comprising 77% of total imports. These countries were followed by South Korea, Thailand, Vietnam, China and Malaysia, which together accounted for a further 17%.

Among the main suppliers, Vietnam, with a CAGR of +134.6%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average expansible polystyrene import price stood at $X per ton in 2021, with an increase of 22% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. Over the period under review, average import prices attained the maximum at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Singapore ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+4.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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