South-Eastern Asia: Expansible Polystyrene Market 2024

Expansible Polystyrene Market Size in South-Eastern Asia

The Southeast Asian expansible polystyrene market was estimated at $X in 2021, rising by 6.4% against the previous year. In general, consumption, however, recorded a relatively flat trend pattern. The level of consumption peaked at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Expansible Polystyrene Production in South-Eastern Asia

In value terms, expansible polystyrene production expanded rapidly to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a mild setback. The pace of growth was the most pronounced in 2019 when the production volume increased by 23% against the previous year. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Expansible Polystyrene Exports

Exports in South-Eastern Asia

For the third consecutive year, South-Eastern Asia recorded decline in shipments abroad of expansible polystyrene in primary forms, which decreased by -28.8% to X tons in 2021. Over the period under review, exports showed a abrupt slump. The most prominent rate of growth was recorded in 2014 when exports increased by 12% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, expansible polystyrene exports reached $X in 2021. Overall, exports recorded a abrupt contraction. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Thailand was the key exporting country with an export of around X tons, which accounted for 66% of total exports. Indonesia (X tons) ranks second in terms of the total exports with a 17% share, followed by Malaysia (6.8%) and Lao People's Democratic Republic (5.7%). Singapore (X tons) followed a long way behind the leaders.

Exports from Thailand increased at an average annual rate of +9.6% from 2012 to 2021. At the same time, Lao People's Democratic Republic (+54.8%) and Indonesia (+20.2%) displayed positive paces of growth. Moreover, Lao People's Democratic Republic emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +54.8% from 2012-2021. By contrast, Singapore (-6.6%) and Malaysia (-33.7%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Thailand, Indonesia and Lao People's Democratic Republic increased by +56, +16 and +5.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) remains the largest expansible polystyrene supplier in South-Eastern Asia, comprising 60% of total exports. The second position in the ranking was held by Indonesia ($X), with a 25% share of total exports. It was followed by Malaysia, with a 6.8% share.

From 2012 to 2021, the average annual growth rate of value in Thailand totaled +8.4%. In the other countries, the average annual rates were as follows: Indonesia (+23.7% per year) and Malaysia (-34.0% per year).

Export Prices by Country

In 2021, the export price in South-Eastern Asia amounted to $X per ton, jumping by 53% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. Over the period under review, the export prices attained the peak figure 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 origin: amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while Lao People's Democratic Republic ($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 (+2.9%), while the other leaders experienced a decline in the export price figures.

Expansible Polystyrene Imports

Imports in South-Eastern Asia

Expansible polystyrene imports rose markedly to X tons in 2021, with an increase of 9.9% compared with the previous year. Total imports indicated a buoyant increase from 2012 to 2021: its volume increased at an average annual rate of +7.2% 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 +87.4% against 2012 indices. The most prominent rate of growth was recorded in 2016 when imports increased by 22%. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in years to come.

In value terms, expansible polystyrene imports soared to $X in 2021. Total imports indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +5.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Vietnam (X tons) was the key importer of expansible polystyrene in primary forms, creating 39% of total imports. It was distantly followed by Indonesia (X tons), Malaysia (X tons), Thailand (X tons) and the Philippines (X tons), together mixing up a 56% share of total imports. Cambodia (X tons) held a little share of total imports.

From 2012 to 2021, average annual rates of growth with regard to expansible polystyrene imports into Vietnam stood at +7.9%. At the same time, Cambodia (+49.3%), Indonesia (+8.5%), Malaysia (+7.9%), Thailand (+3.6%) and the Philippines (+3.4%) displayed positive paces of growth. Moreover, Cambodia emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +49.3% from 2012-2021. Cambodia (+2.8 p.p.), Vietnam (+2 p.p.) and Indonesia (+1.9 p.p.) significantly strengthened its position in terms of the total imports, while the Philippines and Thailand saw its share reduced by -3% and -5.2% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X), Indonesia ($X) and Thailand ($X) were the countries with the highest levels of imports in 2021, with a combined 73% share of total imports. These countries were followed by Malaysia, the Philippines and Cambodia, which together accounted for a further 25%.

Cambodia, with a CAGR of +41.3%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2021, increasing by 25% against the previous year. Overall, the import price, however, recorded a slight curtailment. The level of import 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 importing countries. In 2021, amid the top importers, the country with the highest price was Thailand ($X per ton), while Cambodia ($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 (-0.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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