South-Eastern Asia: Polyethylene Market 2024

Polyethylene Market Size in South-Eastern Asia

In 2023, the Southeast Asian polyethylene market decreased by X% to $X for the first time since 2020, thus ending a two-year rising trend. The total consumption indicated tangible 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. As a result, consumption attained the peak level of $X, and then reduced dramatically in the following year.

Polyethylene Production in South-Eastern Asia

In value terms, polyethylene production shrank rapidly to $X in 2023 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2022 with an increase of X%. As a result, production attained the peak level of $X, and then reduced remarkably in the following year.

Polyethylene Exports

Exports in South-Eastern Asia

For the fourth consecutive year, South-Eastern Asia recorded decline in overseas shipments of primary polyethylene with a specific gravity of over X, which decreased by X% to X tons in 2023. Overall, exports saw a slight contraction. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. The volume of export peaked at X tons in 2019; however, from 2020 to 2023, the exports stood at a somewhat lower figure.

In value terms, polyethylene exports reduced rapidly to $X in 2023. Over the period under review, exports recorded a pronounced decline. The growth pace was the most rapid in 2021 with an increase of X%. The level of export peaked at $X in 2018; however, from 2019 to 2023, the exports failed to regain momentum.

Exports by Country

In 2023, Thailand (X tons) was the main exporter of primary polyethylene with a specific gravity of over X, comprising X% of total exports. Singapore (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Malaysia (X%). Indonesia (X tons) followed a long way behind the leaders.

Thailand experienced a relatively flat trend pattern with regard to volume of exports of primary polyethylene with a specific gravity of over X. At the same time, Malaysia (X%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of X% from 2012-2023. By contrast, Indonesia (X%) and Singapore (X%) illustrated a downward trend over the same period. Malaysia (X p.p.) and Thailand (X p.p.) significantly strengthened its position in terms of the total exports, while Singapore saw its share reduced by X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) remains the largest polyethylene supplier in South-Eastern Asia, comprising X% of total exports. The second position in the ranking was held by Singapore ($X), with a X% share of total exports. It was followed by Malaysia, with a X% share.

In Thailand, polyethylene exports declined by an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Singapore (X% per year) and Malaysia (X% per year).

Export Prices by Country

In 2023, the export price in South-Eastern Asia amounted to $X per ton, waning by X% against the previous year. In general, the export price showed a pronounced contraction. The most prominent rate of growth was recorded in 2021 when the export price increased by X%. Over the period under review, the export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2023, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2023, major exporting countries recorded the following prices: in Indonesia ($X per ton) and Thailand ($X per ton), while Malaysia ($X per ton) and Singapore ($X per ton) were 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 export price figures.

Polyethylene Imports

Imports in South-Eastern Asia

In 2023, supplies from abroad of primary polyethylene with a specific gravity of over X decreased by X% to X tons, falling for the fourth consecutive year after six years of growth. Total imports indicated a moderate expansion from 2012 to 2023: its volume 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, imports decreased by X% against 2019 indices. The pace of growth was the most pronounced in 2017 when imports increased by X%. The volume of import peaked at X tons in 2019; however, from 2020 to 2023, imports stood at a somewhat lower figure.

In value terms, polyethylene imports plummeted to $X in 2023. Overall, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by X%. As a result, imports reached the peak of $X. From 2019 to 2023, the growth of imports remained at a somewhat lower figure.

Imports by Country

Vietnam was the key importing country with an import of around X tons, which recorded X% of total imports. Malaysia (X tons) held the second position in the ranking, followed by Indonesia (X tons), Singapore (X tons), Thailand (X tons) and the Philippines (X tons). All these countries together took approx. X% share of total imports. Myanmar (X tons) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to polyethylene imports into Vietnam stood at X%. At the same time, Myanmar (X%), the Philippines (X%), Malaysia (X%) and Indonesia (X%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of X% from 2012-2023. By contrast, Thailand (X%) and Singapore (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Vietnam, Malaysia, Indonesia, the Philippines and Myanmar increased by X, X, X, X and X percentage points, respectively.

In value terms, the largest polyethylene importing markets in South-Eastern Asia were Vietnam ($X), Indonesia ($X) and Malaysia ($X), with a combined X% share of total imports. Singapore, Thailand, the Philippines and Myanmar lagged somewhat behind, together comprising a further X%.

Among the main importing countries, Myanmar, with a CAGR of X%, saw 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 South-Eastern Asia stood at $X per ton in 2023, declining by X% against the previous year. Overall, the import price saw a slight reduction. The pace of growth appeared the most rapid in 2021 when the import price increased by X%. Over the period under review, import prices attained the maximum at $X per ton in 2014; however, from 2015 to 2023, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2023, major importing countries recorded the following prices: in Thailand ($X per ton) and Indonesia ($X per ton), while Singapore ($X per ton) and Myanmar ($X per ton) were 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