Asia-Pacific: Polyurethanes Market 2024

Polyurethanes Market Size in Asia-Pacific

The Asia-Pacific polyurethanes market reduced modestly to $X in 2022, which is down by X% against the previous year. The total consumption indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2020 indices. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Polyurethanes Production in Asia-Pacific

In value terms, polyurethanes production contracted slightly to $X in 2022 estimated in export price. The total production indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

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Polyurethanes Exports

Exports in Asia-Pacific

Polyurethanes exports expanded significantly to X tons in 2022, surging by X% on the previous year's figure. Total exports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2017 when exports increased by X%. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the near future.

In value terms, polyurethanes exports rose notably to $X in 2022. Total exports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of X%. The level of export peaked in 2022 and is expected to retain growth in the near future.

Exports by Country

In 2022, China (X tons) represented the major exporter of polyurethanes in primary forms, generating X% of total exports. It was distantly followed by Taiwan (Chinese) (X tons), South Korea (X tons), Singapore (X tons) and Japan (X tons), together generating a X% share of total exports. India (X tons) and Malaysia (X tons) held a relatively small share of total exports.

China was also the fastest-growing in terms of the polyurethanes in primary forms exports, with a CAGR of X% from 2012 to 2022. At the same time, India (X%), South Korea (X%), Japan (X%) and Taiwan (Chinese) (X%) displayed positive paces of growth. Malaysia experienced a relatively flat trend pattern. By contrast, Singapore (X%) illustrated a downward trend over the same period. China (X p.p.) and India (X p.p.) significantly strengthened its position in terms of the total exports, while South Korea, Japan, Malaysia, Taiwan (Chinese) and Singapore saw its share reduced by X%, X%, X%, X% and X% from 2012 to 2022, respectively.

In value terms, China ($X) remains the largest polyurethanes supplier in Asia-Pacific, comprising X% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with an X% share of total exports. It was followed by South Korea, with a X% share.

From 2012 to 2022, the average annual growth rate of value in China totaled X%. In the other countries, the average annual rates were as follows: Taiwan (Chinese) (X% per year) and South Korea (X% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2022, flattening at the previous year. Overall, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the export price increased by X%. The level of export peaked at $X per ton in 2012; afterwards, it flattened through to 2022.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (X%), while the other leaders experienced more modest paces of growth.

Polyurethanes Imports

Imports in Asia-Pacific

In 2022, approx. X tons of polyurethanes in primary forms were imported in Asia-Pacific; approximately reflecting 2021. Total imports indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of X% 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 X% against 2020 indices. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. The volume of import peaked at X tons in 2021, and then reduced slightly in the following year.

In value terms, polyurethanes imports rose to $X in 2022. Total imports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by X%. Over the period under review, imports attained the peak figure in 2022 and are likely to see steady growth in years to come.

Imports by Country

In 2022, China (X tons), India (X tons) and Vietnam (X tons) was the largest importer of polyurethanes in primary forms in Asia-Pacific, committing X% of total import. Indonesia (X tons) ranks next in terms of the total imports with a X% share, followed by Thailand (X%). The following importers - Taiwan (Chinese) (X tons), South Korea (X tons), Pakistan (X tons), Malaysia (X tons), Bangladesh (X tons), Australia (X tons), Hong Kong SAR (X tons) and the Philippines (X tons) - together made up X% of total imports.

From 2012 to 2022, 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 polyurethanes importing markets in Asia-Pacific were China ($X), Vietnam ($X) and India ($X), with a combined X% share of total imports. Indonesia, Thailand, Taiwan (Chinese), South Korea, Malaysia, Hong Kong SAR, Australia, Pakistan, Bangladesh and the Philippines lagged somewhat behind, together accounting for a further X%.

Bangladesh, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries 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 Asia-Pacific stood at $X per ton in 2022, increasing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 when the import price increased by X%. Over the period under review, import prices attained the maximum in 2022 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform