Asia-Pacific: Market for Polyethylene Glycols and Polyethers in Primary Forms 2023

Market Size for Polyethylene Glycols and Polyethers in Primary Forms in Asia-Pacific

After five years of growth, the Asia-Pacific polyethylene glycol and polyether market decreased by -2.2% to $X in 2021. The total consumption indicated a temperate expansion from 2012 to 2021: its value increased at an average annual rate of +3.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +44.3% against 2015 indices. The level of consumption peaked at $X in 2020, and then fell slightly in the following year.

Production of Polyethylene Glycols and Polyethers in Primary Forms in Asia-Pacific

In value terms, polyethylene glycol and polyether production dropped modestly to $X in 2021 estimated in export price. The total production indicated moderate growth from 2012 to 2021: its value increased at an average annual rate of +3.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +48.3% against 2016 indices. The growth pace was the most rapid in 2018 with an increase of 16% against the previous year. Over the period under review, production attained the peak level at $X in 2020, and then fell modestly in the following year.

Exports of Polyethylene Glycols and Polyethers in Primary Forms

Exports in Asia-Pacific

For the fifth year in a row, Asia-Pacific recorded growth in overseas shipments of polyethylene glycols and polyethers in primary forms, which increased by 28% to X tons in 2021. Total exports indicated a remarkable increase from 2012 to 2021: its volume increased at an average annual rate of +8.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +109.0% against 2012 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, polyethylene glycol and polyether exports skyrocketed to $X in 2021. Over the period under review, exports showed a remarkable increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, China (X tons) represented the key exporter of polyethylene glycols and polyethers in primary forms, making up 41% of total exports. It was distantly followed by South Korea (X tons), Singapore (X tons), Thailand (X tons) and Taiwan (Chinese) (X tons), together committing a 52% share of total exports. The following exporters - Japan (X tons) and Malaysia (X tons) - together made up 5% of total exports.

Exports from China increased at an average annual rate of +16.4% from 2012 to 2021. At the same time, Thailand (+29.2%), Singapore (+4.8%), Malaysia (+4.7%), South Korea (+4.2%), Japan (+2.8%) and Taiwan (Chinese) (+1.7%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +29.2% from 2012-2021. From 2012 to 2021, the share of China and Thailand increased by +19 and +8.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest polyethylene glycol and polyether supplier in Asia-Pacific, comprising 40% of total exports. The second position in the ranking was held by South Korea ($X), with an 18% share of total exports. It was followed by Singapore, with a 14% share.

From 2012 to 2021, the average annual growth rate of value in China amounted to +18.1%. The remaining exporting countries recorded the following average annual rates of exports growth: South Korea (+5.3% per year) and Singapore (+6.9% per year).

Export Prices by Country

In 2021, the export price in Asia-Pacific amounted to $X per ton, increasing by 40% against the previous year. Overall, the export price saw a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+2.6%), while the other leaders experienced more modest paces of growth.

Imports of Polyethylene Glycols and Polyethers in Primary Forms

Imports in Asia-Pacific

In 2021, polyethylene glycol and polyether imports in Asia-Pacific rose sharply to X tons, growing by 14% on the previous year's figure. Total imports indicated a prominent increase from 2012 to 2021: its volume increased at an average annual rate of +6.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, polyethylene glycol and polyether imports surged to $X in 2021. Total imports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +7.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons), distantly followed by India (X tons), Vietnam (X tons), Indonesia (X tons), Taiwan (Chinese) (X tons), Japan (X tons) and South Korea (X tons) represented the largest importers of polyethylene glycols and polyethers in primary forms, together creating 79% of total imports. Thailand (X tons), Singapore (X tons), Malaysia (X tons), Pakistan (X tons), the Philippines (X tons) and Australia (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by South Korea (with a CAGR of +15.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constitutes the largest market for imported polyethylene glycols and polyethers in primary forms in Asia-Pacific, comprising 31% of total imports. The second position in the ranking was held by India ($X), with a 14% share of total imports. It was followed by Vietnam, with an 8.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China amounted to +4.9%. The remaining importing countries recorded the following average annual rates of imports growth: India (+12.3% per year) and Vietnam (+12.0% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2021, growing by 34% against the previous year. Overall, the import price showed a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Japan ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+7.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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