Asia: Market for Polypropylene in Primary Forms 2024

Market Size for Polypropylene in Primary Forms in Asia

The Asian polypropylene in primary forms market reached $X in 2023, surging by X% against the previous year. The total consumption indicated a tangible expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2021 indices. The level of consumption peaked at $X in 2021; however, from 2022 to 2023, consumption remained at a lower figure.

Production of Polypropylene in Primary Forms in Asia

In value terms, polypropylene in primary forms production rose to $X in 2023 estimated in export price. The total production indicated prominent growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2021 indices. The pace of growth was the most pronounced in 2017 with an increase of X%. Over the period under review, production reached the maximum level at $X in 2021; however, from 2022 to 2023, production remained at a lower figure.

Exports of Polypropylene in Primary Forms

Exports in Asia

In 2023, the amount of polypropylene in primary forms exported in Asia was estimated at X tons, remaining stable against the previous year's figure. The total export volume increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons. From 2022 to 2023, the growth of the exports remained at a lower figure.

In value terms, polypropylene in primary forms exports shrank modestly to $X in 2023. The total export value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when exports increased by X%. As a result, the exports reached the peak of $X. From 2022 to 2023, the growth of the exports failed to regain momentum.

Exports by Country

Saudi Arabia represented the key exporter of polypropylene in primary forms in Asia, with the volume of exports amounting to X tons, which was near X% of total exports in 2023. It was distantly followed by South Korea (X tons), China (X tons), the United Arab Emirates (X tons) and Singapore (X tons), together generating a X% share of total exports. Malaysia (X tons), Thailand (X tons), Oman (X tons), Taiwan (Chinese) (X tons), Japan (X tons), Vietnam (X tons) and India (X tons) took a little share of total exports.

From 2012 to 2023, average annual rates of growth with regard to polypropylene in primary forms exports from Saudi Arabia stood at X%. At the same time, China (X%), Vietnam (X%), Malaysia (X%), Oman (X%), the United Arab Emirates (X%), Japan (X%), South Korea (X%), Taiwan (Chinese) (X%) and Thailand (X%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2023. By contrast, Singapore (X%) and India (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of China, South Korea, the United Arab Emirates, Malaysia and Vietnam increased by X, X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) remains the largest polypropylene in primary forms supplier in Asia, comprising X% of total exports. The second position in the ranking was taken by South Korea ($X), with a X% share of total exports. It was followed by the United Arab Emirates, with an X% share.

From 2012 to 2023, the average annual growth rate of value in Saudi Arabia stood at X%. In the other countries, the average annual rates were as follows: South Korea (X% per year) and the United Arab Emirates (X% per year).

Export Prices by Country

In 2023, the export price in Asia amounted to $X per ton, declining by X% against the previous year. Over the period under review, the export price saw a slight slump. The most prominent rate of growth was recorded in 2021 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2014; however, from 2015 to 2023, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while Singapore ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Saudi Arabia (X%), while the other leaders experienced a decline in the export price figures.

Imports of Polypropylene in Primary Forms

Imports in Asia

In 2023, overseas purchases of polypropylene in primary forms were finally on the rise to reach X tons for the first time since 2020, thus ending a two-year declining trend. The total import volume increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 when imports increased by X%. As a result, imports attained the peak of X tons. From 2021 to 2023, the growth of imports failed to regain momentum.

In value terms, polypropylene in primary forms imports reduced to $X in 2023. Overall, imports, however, recorded a mild decline. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2023, imports remained at a lower figure.

Imports by Country

China (X tons), Turkey (X tons), India (X tons), Vietnam (X tons) and Indonesia (X tons) represented roughly X% of total imports in 2023. Pakistan (X tons), Malaysia (X tons), Bangladesh (X tons), Thailand (X tons) and Singapore (X tons) took a little share of total imports.

From 2012 to 2023, the biggest increases were recorded for India (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest polypropylene in primary forms importing markets in Asia were China ($X), Turkey ($X) and India ($X), with a combined X% share of total imports.

In terms of the main importing countries, India, with a CAGR of X%, 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

In 2023, the import price in Asia amounted to $X per ton, falling by X% against the previous year. Overall, the import price showed a noticeable slump. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The level of import peaked at $X per ton in 2014; however, from 2015 to 2023, 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 Indonesia ($X per ton), while Singapore ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Indonesia (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform