Southern Asia: Polyurethanes Market 2024

Polyurethanes Market Size in Southern Asia

In 2021, the South Asian polyurethanes market was finally on the rise to reach $X after two years of decline. The market value increased at an average annual rate of +1.6% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. Over the period under review, the market attained the maximum level in 2021 and is likely to continue growth in years to come.

Polyurethanes Production in Southern Asia

In value terms, polyurethanes production reached $X in 2021 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 14%. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Polyurethanes Exports

Exports in Southern Asia

In 2021, exports of polyurethanes in primary forms in Southern Asia soared to X tons, with an increase of 20% against the previous year's figure. Over the period under review, exports posted resilient growth. The pace of growth appeared the most rapid in 2015 with an increase of 41%. Over the period under review, the exports attained the peak figure in 2021 and are likely to continue growth in the immediate term.

In value terms, polyurethanes exports skyrocketed to $X in 2021. In general, exports showed a strong increase. The growth pace was the most rapid in 2018 when exports increased by 42% against the previous year. The level of export peaked in 2021 and is expected to retain growth in the immediate term.

Exports by Country

The biggest shipments were from India (X tons), together recording 98% of total export.

India was also the fastest-growing in terms of the polyurethanes in primary forms exports, with a CAGR of +12.9% from 2012 to 2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

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

In India, polyurethanes exports increased at an average annual rate of +13.1% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Southern Asia amounted to $X per ton, growing by 14% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 an increase of 17% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the rate of growth in terms of prices for India amounted to +0.2% per year.

Polyurethanes Imports

Imports in Southern Asia

Polyurethanes imports soared to X tons in 2021, with an increase of 17% against 2020 figures. In general, imports enjoyed a resilient increase. The growth pace was the most rapid in 2013 when imports increased by 49% against the previous year. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in the near future.

In value terms, polyurethanes imports soared to $X in 2021. Over the period under review, imports saw strong growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

India represented the main importing country with an import of about X tons, which resulted at 68% of total imports. Pakistan (X tons) held the second position in the ranking, followed by Bangladesh (X tons). All these countries together held approx. 29% share of total imports. Sri Lanka (X tons) took a minor share of total imports.

From 2012 to 2021, average annual rates of growth with regard to polyurethanes imports into India stood at +18.8%. At the same time, Bangladesh (+24.3%), Pakistan (+18.5%) and Sri Lanka (+11.4%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +24.3% from 2012-2021. While the share of Bangladesh (+4.3 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of India (-1.8 p.p.) and Sri Lanka (-1.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported polyurethanes in primary forms in Southern Asia, comprising 66% of total imports. The second position in the ranking was taken by Bangladesh ($X), with a 15% share of total imports. It was followed by Pakistan, with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of value in India stood at +16.0%. The remaining importing countries recorded the following average annual rates of imports growth: Bangladesh (+25.0% per year) and Pakistan (+15.0% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2021, surging by 30% against the previous year. Over the period under review, the import price, however, saw a slight reduction. Over the period under review, import prices attained the maximum at $X per ton in 2012; however, from 2013 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 Sri Lanka ($X per ton), while Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sri Lanka (+2.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :