South-Eastern Asia: Ethylene Market 2024

Ethylene Market Size in South-Eastern Asia

The Southeast Asian ethylene market was finally on the rise to reach $X in 2021, after three years of decline. Overall, consumption, however, continues to indicate a pronounced curtailment. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market remained at a lower figure.

Ethylene Production in South-Eastern Asia

In value terms, ethylene production rose sharply to $X in 2021 estimated in export price. Over the period under review, production, however, saw a mild decline. The pace of growth appeared the most rapid in 2017 with an increase of 20%. As a result, production reached the peak level of $X. From 2018 to 2021, production growth remained at a somewhat lower figure.

Ethylene Exports

Exports in South-Eastern Asia

In 2021, approx. X tons of ethylene were exported in South-Eastern Asia; increasing by 9.2% compared with the year before. Over the period under review, exports continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2014 with an increase of 51% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, ethylene exports skyrocketed to $X in 2021. In general, exports enjoyed a remarkable increase. The pace of growth was the most pronounced in 2017 when exports increased by 65% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, Singapore (X tons) and Malaysia (X tons) represented the largest exporters of ethylene in South-Eastern Asia, together resulting at approx. 77% of total exports. Thailand (X tons) ranks next in terms of the total exports with a 13% share, followed by Indonesia (8.3%). The Philippines (X tons) held a minor share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by the Philippines (with a CAGR of +33.8%), while the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), Malaysia ($X) and Thailand ($X) constituted the countries with the highest levels of exports in 2021, with a combined 89% share of total exports. These countries were followed by Indonesia and the Philippines, which together accounted for a further 11%.

The Philippines, with a CAGR of +25.5%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2021, surging by 41% against the previous year. Over the period under review, the export price, however, saw a noticeable curtailment. Over the period under review, the export prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in Thailand ($X per ton) and the Philippines ($X per ton), while Malaysia ($X per ton) and Indonesia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (-0.2%), while the other leaders experienced a decline in the export price figures.

Ethylene Imports

Imports in South-Eastern Asia

After three years of growth, supplies from abroad of ethylene decreased by -11.5% to X tons in 2021. Over the period under review, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 with an increase of 17%. Over the period under review, imports attained the peak figure at X tons in 2020, and then dropped in the following year.

In value terms, ethylene imports soared to $X in 2021. In general, imports continue to indicate a pronounced decline. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Indonesia dominates imports structure, resulting at X tons, which was approx. 92% of total imports in 2021. It was distantly followed by Thailand (X tons), creating a 4.8% share of total imports. Malaysia (X tons) held a little share of total imports.

Imports into Indonesia increased at an average annual rate of +1.6% from 2012 to 2021. At the same time, Malaysia (+4.4%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +4.4% from 2012-2021. By contrast, Thailand (-10.4%) illustrated a downward trend over the same period. While the share of Indonesia (+18 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Thailand (-7.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Indonesia ($X) constitutes the largest market for imported ethylene in South-Eastern Asia, comprising 92% of total imports. The second position in the ranking was taken by Thailand ($X), with a 4.6% share of total imports.

In Indonesia, ethylene imports remained relatively stable over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Thailand (-12.6% per year) and Malaysia (+1.9% per year).

Import Prices by Country

In 2021, the import price in South-Eastern Asia amounted to $X per ton, surging by 36% against the previous year. Over the period under review, the import price, however, showed a slight descent. Over the period under review, import prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

Average prices varied noticeably amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Malaysia ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (-1.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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