Southern Asia: Polystyrene Market 2024

Polystyrene Market Size in Southern Asia

The South Asian polystyrene market stood at $X in 2022, approximately reflecting the previous year. Overall, consumption recorded a strong expansion. Over the period under review, the market hit record highs at $X in 2020; afterwards, it flattened through to 2022.

Polystyrene Production in Southern Asia

In value terms, polystyrene production stood at $X in 2022 estimated in export price. Over the period under review, production showed a resilient expansion. The growth pace was the most rapid in 2015 with an increase of 53% against the previous year. Over the period under review, production reached the maximum level at $X in 2020; afterwards, it flattened through to 2022.

Polystyrene Exports

Exports in Southern Asia

For the third consecutive year, Southern Asia recorded growth in shipments abroad of polystyrene, which increased by 5.5% to X tons in 2022. Overall, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when exports increased by 16% against the previous year. The volume of export peaked at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, polystyrene exports surged to $X in 2022. In general, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 88% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Pakistan represented the key exporter of polystyrene in Southern Asia, with the volume of exports finishing at X tons, which was near 71% of total exports in 2022. It was distantly followed by India (X tons), mixing up a 29% share of total exports.

Pakistan was also the fastest-growing in terms of the polystyrene exports, with a CAGR of +5.9% from 2012 to 2022. India (-7.7%) illustrated a downward trend over the same period. Pakistan (+33 p.p.) significantly strengthened its position in terms of the total exports, while India saw its share reduced by -32.8% from 2012 to 2022, respectively.

In value terms, Pakistan ($X) remains the largest polystyrene supplier in Southern Asia, comprising 75% of total exports. The second position in the ranking was held by India ($X), with a 25% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Pakistan stood at +6.8%.

Export Prices by Country

In 2022, the export price in Southern Asia amounted to $X per ton, growing by 11% against the previous year. In general, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 62% against the previous year. The level of export peaked at $X per ton in 2013; however, from 2014 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 Pakistan ($X per ton), while India totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Pakistan (+0.9%).

Polystyrene Imports

Imports in Southern Asia

In 2022, imports of polystyrene in Southern Asia reduced to X tons, with a decrease of -4.4% compared with 2021. Over the period under review, imports, however, enjoyed a resilient increase. The pace of growth appeared the most rapid in 2015 with an increase of 30% against the previous year. The volume of import peaked at X tons in 2021, and then declined in the following year.

In value terms, polystyrene imports reduced to $X in 2022. Total imports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +7.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +74.6% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 81% against the previous year. As a result, imports attained the peak of $X, and then declined slightly in the following year.

Imports by Country

India (X tons) and Bangladesh (X tons) prevails in imports structure, together achieving 92% of total imports. It was distantly followed by Sri Lanka (X tons), making up a 6.3% share of total imports.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +12.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest polystyrene importing markets in Southern Asia were India ($X), Bangladesh ($X) and Sri Lanka ($X), together accounting for 98% of total imports.

In terms of the main importing countries, India, with a CAGR of +12.0%, 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 Southern Asia stood at $X per ton in 2022, stabilizing at the previous year. Over the period under review, the import price, however, recorded a mild reduction. The most prominent rate of growth was recorded in 2021 when the import price increased by 43%. Over the period under review, import prices reached the maximum at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Sri Lanka ($X per ton), while Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sri Lanka (-0.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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