Malaysia: Polyurethanes Market 2024

Polyurethanes Market Size in Malaysia

The Malaysian polyurethanes market rose remarkably to $X in 2021, surging by 5.1% against the previous year. In general, the total consumption indicated slight growth from 2012 to 2021: its value increased at an average annual rate of +1.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +64.6% against 2013 indices. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in the near future.

Polyurethanes Production in Malaysia

In value terms, polyurethanes production rose modestly to $X in 2021 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 with an increase of 25%. Polyurethanes production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Polyurethanes Exports

Exports from Malaysia

In 2021, shipments abroad of polyurethanes in primary forms was finally on the rise to reach X tons after three years of decline. In general, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when exports increased by 21% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, polyurethanes exports surged to $X in 2021. The total export value increased at an average annual rate of +1.7% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Thailand (X tons), Vietnam (X tons) and Indonesia (X tons) were the main destinations of polyurethanes exports from Malaysia, together comprising 51% of total exports. These countries were followed by China, the Philippines, Bangladesh, Singapore, Pakistan, India, Sri Lanka, Australia and South Korea, which together accounted for a further 39%.

From 2012 to 2021, the biggest increases were recorded for Australia (with a CAGR of +24.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), Vietnam ($X) and Indonesia ($X) were the largest markets for polyurethanes exported from Malaysia worldwide, together comprising 49% of total exports. China, the Philippines, Bangladesh, India, Singapore, Sri Lanka, Pakistan, Australia and South Korea lagged somewhat behind, together comprising a further 41%.

In terms of the main countries of destination, China, with a CAGR of +21.0%, recorded the highest rates of growth with regard to 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

The average polyurethanes export price stood at $X per ton in 2021, surging by 8.6% against the previous year. Over the last nine years, it increased at an average annual rate of +1.3%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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 India ($X per ton), while the average price for exports to Bangladesh ($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 (+2.5%), while the prices for the other major destinations experienced more modest paces of growth.

Polyurethanes Imports

Imports into Malaysia

In 2021, polyurethanes imports into Malaysia soared to X tons, growing by 22% compared with 2020 figures. The total import volume increased at an average annual rate of +5.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, polyurethanes imports soared to $X in 2021. The total import value increased at an average annual rate of +3.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X tons), Germany (X tons) and Japan (X tons) were the main suppliers of polyurethanes imports to Malaysia, with a combined 48% share of total imports. Taiwan (Chinese), India, France, the United States, Thailand, Singapore, Indonesia, South Korea, the Netherlands and Iran lagged somewhat behind, together comprising a further 43%.

From 2012 to 2021, the biggest increases were recorded for Iran (with a CAGR of +56.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Japan ($X) and the United States ($X) were the largest polyurethanes suppliers to Malaysia, with a combined 46% share of total imports. These countries were followed by Germany, Singapore, Taiwan (Chinese), India, France, the Netherlands, Thailand, South Korea, Indonesia and Iran, which together accounted for a further 45%.

Iran, with a CAGR of +41.9%, 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

In 2021, the average polyurethanes import price amounted to $X per ton, falling by -1.8% against the previous year. Overall, the import price continues to indicate a slight curtailment. The most prominent rate of growth was recorded in 2018 when the average import price increased by 19% against the previous year. As a result, import price attained the peak level of $X per ton. From 2019 to 2021, the average import prices remained at a somewhat 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 Singapore ($X per ton), while the price for Iran ($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 (+7.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :