Malaysia: Market for Polyethylene in Primary Forms 2024

Market Size for Polyethylene in Primary Forms in Malaysia

In 2021, the Malaysian polyethylene in primary forms market increased by 22% to $X, rising for the second year in a row after two years of decline. In general, consumption saw a mild shrinkage. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Production of Polyethylene in Primary Forms in Malaysia

In value terms, polyethylene in primary forms production reduced to $X in 2021 estimated in export price. Overall, production saw a pronounced decrease. The most prominent rate of growth was recorded in 2015 when the production volume increased by 64% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Exports of Polyethylene in Primary Forms

Exports from Malaysia

In 2021, overseas shipments of polyethylene in primary forms decreased by -23.4% to X tons, falling for the second consecutive year after five years of growth. Over the period under review, exports, however, showed a buoyant increase. The pace of growth appeared the most rapid in 2018 with an increase of 79% against the previous year. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, polyethylene in primary forms exports surged to $X in 2021. In general, exports, however, showed a notable expansion. The growth pace was the most rapid in 2018 when exports increased by 87% against the previous year. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

China (X tons), Indonesia (X tons) and Vietnam (X tons) were the main destinations of polyethylene in primary forms exports from Malaysia, with a combined 59% share of total exports. Thailand, the Philippines, India, South Korea, Bangladesh, Taiwan (Chinese), Pakistan, Japan and Hong Kong SAR lagged somewhat behind, together comprising a further 34%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Pakistan (with a CAGR of +16.3%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X), Indonesia ($X) and Vietnam ($X) were the largest markets for polyethylene in primary forms exported from Malaysia worldwide, with a combined 58% share of total exports. These countries were followed by Thailand, the Philippines, India, South Korea, Bangladesh, Taiwan (Chinese), Japan, Pakistan and Hong Kong SAR, which together accounted for a further 34%.

Among the main countries of destination, India, with a CAGR of +14.7%, saw the highest growth rate of the value of exports, 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 polyethylene in primary forms export price amounted to $X per ton, growing by 50% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

Average prices varied somewhat for the major foreign markets. In 2021, amid the top suppliers, the countries with the highest prices were Taiwan (Chinese) ($X per ton) and Thailand ($X per ton), while the average price for exports to Hong Kong SAR ($X per ton) and India ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (+0.7%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Polyethylene in Primary Forms

Imports into Malaysia

In 2021, overseas purchases of polyethylene in primary forms decreased by -16.4% to X tons, falling for the third consecutive year after seven years of growth. Overall, imports, however, enjoyed a resilient expansion. The pace of growth appeared the most rapid in 2018 when imports increased by 30%. As a result, imports attained the peak of X tons. From 2019 to 2021, the growth of imports remained at a lower figure.

In value terms, polyethylene in primary forms imports rose rapidly to $X in 2021. Over the period under review, total imports indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +3.1% 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 -40.1% against 2018 indices. The pace of growth appeared the most rapid in 2018 when imports increased by 38% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Saudi Arabia (X tons) constituted the largest polyethylene in primary forms supplier to Malaysia, with a 41% share of total imports. Moreover, polyethylene in primary forms imports from Saudi Arabia exceeded the figures recorded by the second-largest supplier, the United States (X tons), threefold. Singapore (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Saudi Arabia amounted to +13.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+39.9% per year) and Singapore (-6.6% per year).

In value terms, Saudi Arabia ($X) constituted the largest supplier of polyethylene in primary forms to Malaysia, comprising 40% of total imports. The second position in the ranking was taken by Singapore ($X), with a 13% share of total imports. It was followed by the United States, with a 13% share.

From 2012 to 2021, the average annual growth rate of value from Saudi Arabia totaled +11.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (-7.5% per year) and the United States (+29.2% per year).

Import Prices by Country

The average polyethylene in primary forms import price stood at $X per ton in 2021, rising by 31% against the previous year. Overall, the import price, however, showed a pronounced decrease. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Indonesia ($X per ton) and Singapore ($X per ton), while the price for the United States ($X per ton) and Saudi Arabia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (-0.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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