Southern Asia: Market for Polypropylene in Primary Forms 2024

Market Size for Polypropylene in Primary Forms in Southern Asia

In 2022, the South Asian polypropylene in primary forms market increased by 2.8% to $X, rising for the second consecutive year after two years of decline. The total consumption indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +6.8% 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 +16.5% against 2020 indices. The level of consumption peaked in 2022 and is likely to see steady growth in the near future.

Production of Polypropylene in Primary Forms in Southern Asia

In value terms, polypropylene in primary forms production declined to $X in 2022 estimated in export price. The total production indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +4.3% 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 +0.3% against 2020 indices. The most prominent rate of growth was recorded in 2013 when the production volume increased by 30%. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Exports of Polypropylene in Primary Forms

Exports in Southern Asia

In 2022, approx. X tons of polypropylene in primary forms were exported in Southern Asia; shrinking by -20.2% compared with the previous year. In general, exports recorded a deep reduction. The growth pace was the most rapid in 2013 with an increase of 66% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, polypropylene in primary forms exports declined rapidly to $X in 2022. Over the period under review, exports saw a abrupt slump. The pace of growth appeared the most rapid in 2013 with an increase of 80% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The shipments of the one major exporters of polypropylene in primary forms, namely India, represented more than two-thirds of total export.

India was also the fastest-growing in terms of the polypropylene in primary forms exports, with a CAGR of -5.1% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest polypropylene in primary forms supplier in Southern Asia.

From 2012 to 2022, the average annual growth rate of value in India totaled -6.4%.

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2022, with a decrease of -12.7% against the previous year. Overall, the export price saw a mild descent. The pace of growth was the most pronounced in 2021 an increase of 59% against the previous year. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for India.

From 2012 to 2022, the rate of growth in terms of prices for India amounted to -1.4% per year.

Imports of Polypropylene in Primary Forms

Imports in Southern Asia

For the eleventh year in a row, Southern Asia recorded growth in purchases abroad of polypropylene in primary forms, which increased by 11% to X tons in 2022. In general, imports showed a remarkable increase. The pace of growth appeared the most rapid in 2021 when imports increased by 27% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are likely to see steady growth in the near future.

In value terms, polypropylene in primary forms imports expanded slightly to $X in 2022. Over the period under review, imports continue to indicate a buoyant expansion. The pace of growth appeared the most rapid in 2021 when imports increased by 76%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in years to come.

Imports by Country

India was the key importer of polypropylene in primary forms in Southern Asia, with the volume of imports recording X tons, which was near 51% of total imports in 2022. Pakistan (X tons) ranks second in terms of the total imports with a 24% share, followed by Bangladesh (21%). Nepal (X tons) and Sri Lanka (X tons) took a minor share of total imports.

Imports into India increased at an average annual rate of +11.7% from 2012 to 2022. At the same time, Nepal (+13.6%), Bangladesh (+11.1%) and Pakistan (+7.8%) displayed positive paces of growth. Moreover, Nepal emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +13.6% from 2012-2022. Sri Lanka experienced a relatively flat trend pattern. India (+6.6 p.p.) and Bangladesh (+1.6 p.p.) significantly strengthened its position in terms of the total imports, while Sri Lanka and Pakistan saw its share reduced by -2.8% and -6% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X), Pakistan ($X) and Bangladesh ($X) were the countries with the highest levels of imports in 2022, together comprising 95% of total imports. Nepal and Sri Lanka lagged somewhat behind, together accounting for a further 4.4%.

In terms of the main importing countries, Nepal, with a CAGR of +12.0%, recorded the highest growth rate of 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 Southern Asia stood at $X per ton in 2022, waning by -6.2% against the previous year. Over the period under review, the import price saw a slight curtailment. The growth pace was the most rapid in 2021 when the import price increased by 39%. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Pakistan ($X per ton) and Sri Lanka ($X per ton), while Bangladesh ($X per ton) and Nepal ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Pakistan (-0.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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