Malaysia: Market for Polyethylene Glycols and Polyethers in Primary Forms 2024

Market Size for Polyethylene Glycols and Polyethers in Primary Forms in Malaysia

After three years of decline, the Malaysian polyethylene glycol and polyether market increased by 5.2% to $X in 2021. Overall, consumption saw a abrupt descent. Polyethylene glycol and polyether consumption peaked at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Production of Polyethylene Glycols and Polyethers in Primary Forms in Malaysia

In value terms, polyethylene glycol and polyether production soared to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a deep setback. The most prominent rate of growth was recorded in 2017 with an increase of 105% against the previous year. Over the period under review, production attained the peak level at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Exports of Polyethylene Glycols and Polyethers in Primary Forms

Exports from Malaysia

Polyethylene glycol and polyether exports from Malaysia surged to X tons in 2021, picking up by 36% on 2020. Over the period under review, total exports indicated a tangible increase from 2012 to 2021: its volume increased at an average annual rate of +4.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +25.8% against 2018 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, polyethylene glycol and polyether exports soared to $X in 2021. In general, total exports indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +4.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +17.1% against 2018 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China (X tons) was the main destination for polyethylene glycol and polyether exports from Malaysia, accounting for a 53% share of total exports. Moreover, polyethylene glycol and polyether exports to China exceeded the volume sent to the second major destination, India (X tons), sixfold. Japan (X tons) ranked third in terms of total exports with a 6.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to China amounted to +7.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+110.7% per year) and Japan (+11.8% per year).

In value terms, China ($X) remains the key foreign market for polyethylene glycols and polyethers in primary forms exports from Malaysia, comprising 43% of total exports. The second position in the ranking was taken by Belgium ($X), with an 8.9% share of total exports. It was followed by Japan, with a 7.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value to China amounted to +6.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (+73.8% per year) and Japan (+9.7% per year).

Export Prices by Country

The average polyethylene glycol and polyether export price stood at $X per ton in 2021, surging by 15% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the average export price increased by 19%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to Bangladesh ($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 (+9.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Polyethylene Glycols and Polyethers in Primary Forms

Imports into Malaysia

After three years of growth, purchases abroad of polyethylene glycols and polyethers in primary forms decreased by -8.8% to X tons in 2021. In general, total imports indicated a strong expansion from 2012 to 2021: its volume increased at an average annual rate of +6.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 with an increase of 33%. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2021, imports failed to regain momentum.

In value terms, polyethylene glycol and polyether imports skyrocketed to $X in 2021. Overall, total imports indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +6.8% 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 increased by +50.6% against 2017 indices. The pace of growth was the most pronounced in 2014 when imports increased by 44% against the previous year. Imports peaked in 2021 and are likely to see steady growth in the immediate term.

Imports by Country

China (X tons), Singapore (X tons) and Thailand (X tons) were the main suppliers of polyethylene glycol and polyether imports to Malaysia, with a combined 66% share of total imports. South Korea, Taiwan (Chinese), Saudi Arabia, Japan and the United States lagged somewhat behind, together accounting for a further 26%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Saudi Arabia (with a CAGR of +46.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Singapore ($X) and Thailand ($X) were the largest polyethylene glycol and polyether suppliers to Malaysia, with a combined 62% share of total imports. Taiwan (Chinese), South Korea, Japan, Saudi Arabia and the United States lagged somewhat behind, together comprising a further 29%.

Saudi Arabia, with a CAGR of +63.3%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average polyethylene glycol and polyether import price stood at $X per ton in 2021, picking up by 44% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+11.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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