South-Eastern Asia: Market for Polystyrene In Primary Forms (Excluding Expansible Polystyrene) 2025

Market Size for Polystyrene In Primary Forms (Excluding Expansible Polystyrene) in South-Eastern Asia

In 2021, the Southeast Asian polystyrene in primary forms market was finally on the rise to reach $X for the first time since 2017, thus ending a three-year declining trend. The market value increased at an average annual rate of +1.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Production of Polystyrene In Primary Forms (Excluding Expansible Polystyrene) in South-Eastern Asia

In value terms, polystyrene in primary forms production rose sharply to $X in 2021 estimated in export price. Overall, production, however, recorded a slight contraction. The most prominent rate of growth was recorded in 2017 with an increase of 34% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Exports of Polystyrene In Primary Forms (Excluding Expansible Polystyrene)

Exports in South-Eastern Asia

In 2021, overseas shipments of polystyrene in primary forms (excluding expansible polystyrene) decreased by -7.7% to X tons, falling for the second consecutive year after three years of growth. Total exports indicated a temperate expansion from 2012 to 2021: its volume increased at an average annual rate of +2.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -18.2% against 2019 indices. The most prominent rate of growth was recorded in 2018 with an increase of 57%. The volume of export peaked at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, polystyrene in primary forms exports amounted to $X in 2021. In general, exports showed a noticeable descent. The growth pace was the most rapid in 2018 when exports increased by 47%. Over the period under review, the exports attained the maximum at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Malaysia was the main exporter of polystyrene in primary forms (excluding expansible polystyrene) in South-Eastern Asia, with the volume of exports finishing at X tons, which was approx. 45% of total exports in 2021. Thailand (X tons) ranks second in terms of the total exports with a 21% share, followed by Singapore (17%), Vietnam (7.8%) and Indonesia (7%). The Philippines (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to polystyrene in primary forms exports from Malaysia stood at +18.9%. At the same time, the Philippines (+38.8%), Indonesia (+21.8%) and Vietnam (+21.1%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +38.8% from 2012-2021. By contrast, Thailand (-2.5%) and Singapore (-9.9%) illustrated a downward trend over the same period. Malaysia (+34 p.p.), Vietnam (+6.1 p.p.) and Indonesia (+5.6 p.p.) significantly strengthened its position in terms of the total exports, while Thailand and Singapore saw its share reduced by -10.9% and -36% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Malaysia ($X), Singapore ($X) and Thailand ($X) appeared to be the countries with the highest levels of exports in 2021, with a combined 86% share of total exports. These countries were followed by Vietnam, Indonesia and the Philippines, which together accounted for a further 14%.

Among the main exporting countries, the Philippines, with a CAGR of +21.5%, 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 export price in South-Eastern Asia stood at $X per ton in 2021, growing by 23% against the previous year. Overall, the export price, however, recorded a perceptible reduction. Over the period under review, the export prices reached the peak figure at $X per ton in 2013; however, from 2014 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 Singapore ($X per ton), while Indonesia ($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 (-0.1%), while the other leaders experienced a decline in the export price figures.

Imports of Polystyrene In Primary Forms (Excluding Expansible Polystyrene)

Imports in South-Eastern Asia

In 2021, imports of polystyrene in primary forms (excluding expansible polystyrene) in South-Eastern Asia expanded rapidly to X tons, rising by 5.8% against the previous year's figure. In general, imports recorded a resilient expansion. The pace of growth was the most pronounced in 2019 when imports increased by 31%. The volume of import peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, polystyrene in primary forms imports surged to $X in 2021. The total import value increased at an average annual rate of +3.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Malaysia was the key importer of polystyrene in primary forms (excluding expansible polystyrene) in South-Eastern Asia, with the volume of imports accounting for X tons, which was approx. 42% of total imports in 2021. Vietnam (X tons) held a 25% share (based on physical terms) of total imports, which put it in second place, followed by Indonesia (12%), the Philippines (9%) and Thailand (7.9%). Singapore (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for the Philippines (with a CAGR of +14.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), Malaysia ($X) and Indonesia ($X) appeared to be the countries with the highest levels of imports in 2021, together accounting for 71% of total imports. Thailand, the Philippines and Singapore lagged somewhat behind, together accounting for a further 28%.

In terms of the main importing countries, the Philippines, with a CAGR of +17.2%, recorded 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

In 2021, the import price in South-Eastern Asia amounted to $X per ton, increasing by 30% against the previous year. Overall, the import price, however, showed a noticeable curtailment. Over the period under review, import prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

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 ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+2.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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