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

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

For the sixth consecutive year, the Asian polyethylene glycol and polyether market recorded growth in sales value, which increased by 1.1% to $X in 2021. The market value increased at an average annual rate of +3.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the maximum level in 2021 and is expected to retain growth in the immediate term.

Production of Polyethylene Glycols and Polyethers in Primary Forms in Asia

In value terms, polyethylene glycol and polyether production reduced to $X in 2021 estimated in export price. The total production indicated a perceptible expansion from 2012 to 2021: its value increased at an average annual rate of +4.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +54.1% against 2016 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by 21%. The level of production peaked at $X in 2020, and then dropped modestly in the following year.

Exports of Polyethylene Glycols and Polyethers in Primary Forms

Exports in Asia

In 2021, polyethylene glycol and polyether exports in Asia surged to X tons, picking up by 33% against the previous year. Overall, exports continue to indicate a buoyant expansion. As a result, the exports reached 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. In general, 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

China was the major exporting country with an export of around X tons, which accounted for 34% of total exports. It was distantly followed by South Korea (X tons), Saudi Arabia (X tons), Singapore (X tons), Thailand (X tons) and Taiwan (Chinese) (X tons), together committing a 59% share of total exports. Japan (X tons) held a minor share of total exports.

Exports from China increased at an average annual rate of +16.4% from 2012 to 2021. At the same time, Saudi Arabia (+67.3%), Thailand (+29.2%), Singapore (+4.8%), South Korea (+4.2%), Japan (+2.8%) and Taiwan (Chinese) (+1.7%) displayed positive paces of growth. Moreover, Saudi Arabia emerged as the fastest-growing exporter exported in Asia, with a CAGR of +67.3% from 2012-2021. From 2012 to 2021, the share of Saudi Arabia, China and Thailand increased by +15, +12 and +6.9 percentage points, respectively.

In value terms, China ($X) remains the largest polyethylene glycol and polyether supplier in Asia, comprising 34% of total exports. The second position in the ranking was held by South Korea ($X), with a 16% share of total exports. It was followed by Singapore, with a 12% share.

From 2012 to 2021, the average annual growth rate of value in China totaled +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

The export price in Asia stood at $X per ton in 2021, rising by 38% against the previous year. In general, 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 ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+3.0%), while the other leaders experienced more modest paces of growth.

Imports of Polyethylene Glycols and Polyethers in Primary Forms

Imports in Asia

In 2021, approx. X tons of polyethylene glycols and polyethers in primary forms were imported in Asia; rising by 18% on the year before. Total imports indicated a resilient 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. Based on 2021 figures, imports increased by +73.6% against 2012 indices. 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 soared to $X in 2021. Total imports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +7.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons), distantly followed by Turkey (X tons), India (X tons), Vietnam (X tons), the United Arab Emirates (X tons) and Indonesia (X tons) represented the largest importers of polyethylene glycols and polyethers in primary forms, together committing 67% of total imports. Taiwan (Chinese) (X tons), Japan (X tons), South Korea (X tons), Thailand (X tons), Singapore (X tons), Malaysia (X tons) and Pakistan (X tons) took a relatively small share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main 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 ($X) constitutes the largest market for imported polyethylene glycols and polyethers in primary forms in Asia, comprising 24% of total imports. The second position in the ranking was taken by Turkey ($X), with a 12% share of total imports. It was followed by India, with an 11% share.

From 2012 to 2021, the average annual growth rate of value in China amounted to +4.9%. The remaining importing countries recorded the following average annual rates of imports growth: Turkey (+7.9% per year) and India (+12.3% per year).

Import Prices by Country

In 2021, the import price in Asia amounted to $X per ton, rising by 37% against the previous year. In general, the import price recorded 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 ($X per ton), while the United Arab Emirates ($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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