South-Eastern Asia: Polyethylene Binder Market 2025

Polyethylene Binder Market Size in South-Eastern Asia

The Southeast Asian polyethylene binder market reduced to $X in 2022, waning by -3.2% against the previous year. The total consumption indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +11.6% against 2020 indices. The level of consumption peaked at $X in 2021, and then declined in the following year.

Polyethylene Binder Production in South-Eastern Asia

In value terms, polyethylene binder production stood at $X in 2022 estimated in export price. The total production indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -0.4% against 2020 indices. The most prominent rate of growth was recorded in 2017 with an increase of 22%. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Polyethylene Binder Exports

Exports in South-Eastern Asia

After three years of growth, overseas shipments of polyethylene or polypropylene binder or baler (agricultural) twines decreased by -3.6% to X tons in 2022. In general, exports, however, recorded strong growth. The most prominent rate of growth was recorded in 2019 when exports increased by 70% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2021, and then shrank slightly in the following year.

In value terms, polyethylene binder exports reduced to $X in 2022. Overall, exports, however, continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2019 with an increase of 47% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then fell in the following year.

Exports by Country

Vietnam represented the key exporter of polyethylene or polypropylene binder or baler (agricultural) twines in South-Eastern Asia, with the volume of exports accounting for X tons, which was approx. 81% of total exports in 2022. It was distantly followed by Thailand (X tons), generating an 18% share of total exports.

Vietnam was also the fastest-growing in terms of the polyethylene or polypropylene binder or baler (agricultural) twines exports, with a CAGR of +20.9% from 2012 to 2022. Thailand (-3.4%) illustrated a downward trend over the same period. While the share of Vietnam (+51 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Thailand (-45.9 p.p.) displayed negative dynamics.

In value terms, Vietnam ($X) remains the largest polyethylene binder supplier in South-Eastern Asia, comprising 78% of total exports. The second position in the ranking was held by Thailand ($X), with a 20% share of total exports.

In Vietnam, polyethylene binder exports increased at an average annual rate of +19.1% over the period from 2012-2022.

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2022, waning by -9.1% against the previous year. Overall, the export price recorded a slight descent. The pace of growth appeared the most rapid in 2021 an increase of 17% against the previous year. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Thailand ($X per ton), while Vietnam amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+0.1%).

Polyethylene Binder Imports

Imports in South-Eastern Asia

In 2022, polyethylene binder imports in South-Eastern Asia skyrocketed to X tons, growing by 72% compared with 2021 figures. In general, imports continue to indicate a resilient expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, polyethylene binder imports skyrocketed to $X in 2022. Over the period under review, imports saw a measured increase. The growth pace was the most rapid in 2013 with an increase of 48% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Myanmar (X tons) was the main importer of polyethylene or polypropylene binder or baler (agricultural) twines, constituting 46% of total imports. Cambodia (X tons) ranks second in terms of the total imports with a 17% share, followed by Malaysia (10%), Singapore (6.5%), Thailand (6.3%) and Indonesia (6.3%). Vietnam (X tons) followed a long way behind the leaders.

Myanmar was also the fastest-growing in terms of the polyethylene or polypropylene binder or baler (agricultural) twines imports, with a CAGR of +61.5% from 2012 to 2022. At the same time, Thailand (+29.3%), Indonesia (+22.1%), Cambodia (+7.4%) and Malaysia (+3.4%) displayed positive paces of growth. By contrast, Singapore (-4.3%) and Vietnam (-15.0%) illustrated a downward trend over the same period. While the share of Myanmar (+46 p.p.), Thailand (+5.3 p.p.) and Indonesia (+4.6 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Malaysia (-4.7 p.p.), Singapore (-13.8 p.p.) and Vietnam (-31.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest polyethylene binder importing markets in South-Eastern Asia were Myanmar ($X), Cambodia ($X) and Malaysia ($X), together accounting for 67% of total imports.

Among the main importing countries, Myanmar, with a CAGR of +55.1%, saw the highest rates of growth with regard to the value of imports, 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 2022, waning by -16.5% against the previous year. Overall, the import price recorded a pronounced setback. The pace of growth was the most pronounced in 2014 when the import price increased by 15%. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Indonesia ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+1.9%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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