Indonesia: Polyurethanes Market 2024

Polyurethanes Market Size in Indonesia

The Indonesian polyurethanes market soared to $X in 2021, jumping by 33% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, the total consumption indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +5.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Polyurethanes Exports

Exports from Indonesia

In 2021, shipments abroad of polyurethanes in primary forms increased by 19% to X tons, rising for the fourth year in a row after three years of decline. Overall, exports showed a strong expansion. The pace of growth appeared the most rapid in 2014 with an increase of 139%. The exports peaked in 2021 and are likely to see gradual growth in years to come.

In value terms, polyurethanes exports surged to $X in 2021. Over the period under review, exports enjoyed buoyant growth. The pace of growth was the most pronounced in 2018 with an increase of 106%. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in years to come.

Exports by Country

Vietnam (X tons), Malaysia (X tons) and Thailand (X tons) were the main destinations of polyurethanes exports from Indonesia, together comprising 63% of total exports. These countries were followed by China, Pakistan, the Philippines and Singapore, which together accounted for a further 34%.

From 2012 to 2021, the biggest increases were recorded for Pakistan (with a CAGR of +55.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), Thailand ($X) and Malaysia ($X) appeared to be the largest markets for polyurethanes exported from Indonesia worldwide, with a combined 72% share of total exports. Pakistan, China, the Philippines and Singapore lagged somewhat behind, together comprising a further 24%.

Pakistan, with a CAGR of +73.8%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average polyurethanes export price amounted to $X per ton, remaining relatively unchanged against the previous year. In general, the export price, however, showed a perceptible setback. The pace of growth appeared the most rapid in 2015 an increase of 17% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Philippines ($X per ton), while the average price for exports to China ($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 Pakistan (+11.7%), while the prices for the other major destinations experienced mixed trend patterns.

Polyurethanes Imports

Imports into Indonesia

Polyurethanes imports into Indonesia surged to X tons in 2021, with an increase of 19% on 2020. Over the period under review, total imports indicated strong growth from 2012 to 2021: its volume increased at an average annual rate of +6.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, polyurethanes imports surged to $X in 2021. Overall, total imports indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +6.3% over the last nine years. The trend pattern, however, 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 (X tons), South Korea (X tons) and Taiwan (Chinese) (X tons) were the main suppliers of polyurethanes imports to Indonesia, with a combined 50% share of total imports. India, Vietnam, Singapore, Japan, Malaysia, Thailand, Germany and Italy lagged somewhat behind, together accounting for a further 44%.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +20.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest polyurethanes suppliers to Indonesia were China ($X), South Korea ($X) and Taiwan (Chinese) ($X), together comprising 54% of total imports. India, Singapore, Vietnam, Japan, Germany, Malaysia, Thailand and Italy lagged somewhat behind, together comprising a further 39%.

Among the main suppliers, Vietnam, with a CAGR of +22.4%, recorded the highest growth rate of 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

In 2021, the average polyurethanes import price amounted to $X per ton, rising by 14% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. Over the period under review, average import prices hit record highs at $X per ton in 2012; afterwards, it flattened through to 2021.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+3.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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