South-Eastern Asia: Market for Polypropylene in Primary Forms 2024

Market Size for Polypropylene in Primary Forms in South-Eastern Asia

In 2022, the Southeast Asian polypropylene in primary forms market increased by 7.6% to $X, rising for the sixth year in a row after two years of decline. The market value increased at an average annual rate of +1.5% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 8.9%. Over the period under review, the market attained the peak level in 2022 and is expected to retain growth in years to come.

Production of Polypropylene in Primary Forms in South-Eastern Asia

In value terms, polypropylene in primary forms production totaled $X in 2022 estimated in export price. In general, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 17% against the previous year. The level of production peaked at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Exports of Polypropylene in Primary Forms

Exports in South-Eastern Asia

In 2022, approx. X tons of polypropylene in primary forms were exported in South-Eastern Asia; falling by -5.9% against 2021 figures. Total exports indicated a noticeable increase from 2012 to 2022: its volume increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -15.2% against 2019 indices. The most prominent rate of growth was recorded in 2018 when exports increased by 15% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, polypropylene in primary forms exports declined to $X in 2022. The total export value increased at an average annual rate of +2.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 23%. The level of export peaked at $X in 2021, and then declined in the following year.

Exports by Country

In 2022, Singapore (X tons), distantly followed by Thailand (X tons), Malaysia (X tons) and Vietnam (X tons) were the main exporters of polypropylene in primary forms, together committing 97% of total exports. The Philippines (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for the Philippines (with a CAGR of +35.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), Thailand ($X) and Malaysia ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined 83% share of total exports. Vietnam and the Philippines lagged somewhat behind, together comprising a further 17%.

In terms of the main exporting countries, the Philippines, with a CAGR of +37.5%, saw 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

In 2022, the export price in South-Eastern Asia amounted to $X per ton, reducing by -5.3% against the previous year. Overall, the export price continues to indicate a pronounced setback. The most prominent rate of growth was recorded in 2021 when the export price increased by 19%. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Singapore ($X per ton) and Vietnam ($X per ton), while Malaysia ($X per ton) and Thailand ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+1.3%), while the other leaders experienced a decline in the export price figures.

Imports of Polypropylene in Primary Forms

Imports in South-Eastern Asia

In 2022, the amount of polypropylene in primary forms imported in South-Eastern Asia rose markedly to X tons, surging by 7.7% against the previous year's figure. The total import volume increased at an average annual rate of +4.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 with an increase of 14%. Over the period under review, imports reached the peak figure in 2022 and are likely to continue growth in the immediate term.

In value terms, polypropylene in primary forms imports expanded remarkably to $X in 2022. The total import value increased at an average annual rate of +2.4% over the period from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 24%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, Indonesia (X tons) and Vietnam (X tons) represented the key importers of polypropylene in primary forms in South-Eastern Asia, together resulting at approx. 59% of total imports. Malaysia (X tons) ranks next in terms of the total imports with a 17% share, followed by Singapore (9.1%) and Thailand (5.8%). The Philippines (X tons) and Myanmar (X tons) took a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Malaysia (with a CAGR of +17.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest polypropylene in primary forms importing markets in South-Eastern Asia were Indonesia ($X), Vietnam ($X) and Malaysia ($X), together accounting for 77% of total imports.

Malaysia, with a CAGR of +12.3%, recorded the highest rates of growth with regard to 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 2022, dropping by -2% against the previous year. In general, the import price showed a slight decrease. The most prominent rate of growth was recorded in 2021 an increase of 20%. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, 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 Thailand ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+2.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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