Malaysia: Expansible Polystyrene Market 2024

Expansible Polystyrene Market Size in Malaysia

In 2021, after two years of growth, there was decline in the Malaysian expansible polystyrene market, when its value decreased by -1% to $X. The market value increased at an average annual rate of +2.1% over the period from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the maximum level at $X in 2020, and then shrank slightly in the following year.

Expansible Polystyrene Production in Malaysia

In value terms, expansible polystyrene production amounted to $X in 2021 estimated in export price. Over the period under review, production recorded a noticeable shrinkage. The growth pace was the most rapid in 2017 with an increase of 16% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Expansible Polystyrene Exports

Exports from Malaysia

For the ninth year in a row, Malaysia recorded decline in shipments abroad of expansible polystyrene in primary forms, which decreased by -35.2% to X tons in 2021. Overall, exports continue to indicate a sharp decrease. The smallest decline of -4.2% was in 2017. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, expansible polystyrene exports dropped markedly to $X in 2021. Over the period under review, exports saw a dramatic descent. The smallest decline of -13.3% was in 2015. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Vietnam (X tons) was the main destination for expansible polystyrene exports from Malaysia, with a 73% share of total exports. Moreover, expansible polystyrene exports to Vietnam exceeded the volume sent to the second major destination, China (X tons), fivefold. The third position in this ranking was taken by India (X tons), with an 8.3% share.

From 2012 to 2021, the average annual growth rate of volume to Vietnam stood at -13.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-11.5% per year) and India (-19.9% per year).

In value terms, Vietnam ($X) remains the key foreign market for expansible polystyrene in primary forms exports from Malaysia, comprising 81% of total exports. The second position in the ranking was taken by India ($X), with a 9% share of total exports. It was followed by China, with a 7.2% share.

From 2012 to 2021, the average annual growth rate of value to Vietnam stood at -12.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (-19.8% per year) and China (-16.8% per year).

Export Prices by Country

The average expansible polystyrene export price stood at $X per ton in 2021, jumping by 30% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while the average price for exports to the United Arab Emirates ($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 Indonesia (+13.0%), while the prices for the other major destinations experienced more modest paces of growth.

Expansible Polystyrene Imports

Imports into Malaysia

In 2021, supplies from abroad of expansible polystyrene in primary forms decreased by -7% to X tons, falling for the second consecutive year after five years of growth. Over the period under review, total imports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +7.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -13.6% against 2019 indices. The pace of growth was the most pronounced in 2013 with an increase of 82% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, expansible polystyrene imports surged to $X in 2021. In general, total imports indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +7.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when imports increased by 126% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, Taiwan (Chinese) (X tons) constituted the largest expansible polystyrene supplier to Malaysia, accounting for a 87% share of total imports. Moreover, expansible polystyrene imports from Taiwan (Chinese) exceeded the figures recorded by the second-largest supplier, Thailand (X tons), more than tenfold. China (X tons) ranked third in terms of total imports with a 3.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Taiwan (Chinese) amounted to +10.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+1.3% per year) and China (+18.1% per year).

In value terms, Taiwan (Chinese) ($X) constituted the largest supplier of expansible polystyrene in primary forms to Malaysia, comprising 91% of total imports. The second position in the ranking was held by China ($X), with a 3.9% share of total imports. It was followed by Thailand, with a 2% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Taiwan (Chinese) stood at +11.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+12.9% per year) and Thailand (-8.8% per year).

Import Prices by Country

The average expansible polystyrene import price stood at $X per ton in 2021, increasing by 51% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was China ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+0.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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