Asia: Polyethylene Binder Market 2023

Polyethylene Binder Market Size in Asia

In 2022, the Asian polyethylene binder market increased by 3% to $X for the first time since 2019, thus ending a two-year declining trend. Over the period under review, consumption saw slight growth. The level of consumption peaked in 2022 and is likely to continue growth in the immediate term.

Polyethylene Binder Production in Asia

In value terms, polyethylene binder production reached $X in 2022 estimated in export price. In general, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 14%. The level of production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Polyethylene Binder Exports

Exports in Asia

In 2022, after six years of growth, there was significant decline in shipments abroad of polyethylene or polypropylene binder or baler (agricultural) twines, when their volume decreased by -11.1% to X tons. Total exports indicated a tangible increase from 2012 to 2022: its volume increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 with an increase of 21%. The volume of export peaked at X tons in 2021, and then contracted in the following year.

In value terms, polyethylene binder exports reduced to $X in 2022. Total exports indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +3.0% 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 +73.5% against 2016 indices. The pace of growth appeared the most rapid in 2017 with an increase of 27% against the previous year. The level of export peaked at $X in 2021, and then contracted in the following year.

Exports by Country

In 2022, China (X tons), Vietnam (X tons) and Turkey (X tons) represented the main exporter of polyethylene or polypropylene binder or baler (agricultural) twines in Asia, committing 78% of total export. Israel (X tons) held the next position in the ranking, followed by Thailand (X tons). All these countries together took approx. 12% share of total exports. Bangladesh (X tons) and the United Arab Emirates (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Israel (with a CAGR of +91.0%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X), Vietnam ($X) and Turkey ($X) constituted the countries with the highest levels of exports in 2022, together accounting for 78% of total exports. Israel, Thailand, Bangladesh and the United Arab Emirates lagged somewhat behind, together accounting for a further 17%.

Israel, with a CAGR of +89.5%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Asia stood at $X per ton in 2022, with an increase of 3% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the export price increased by 15% against the previous year. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in China ($X per ton) and Bangladesh ($X per ton), while Vietnam ($X per ton) and Turkey ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+1.7%), while the other leaders experienced more modest paces of growth.

Polyethylene Binder Imports

Imports in Asia

In 2022, imports of polyethylene or polypropylene binder or baler (agricultural) twines in Asia expanded sharply to X tons, increasing by 11% compared with 2021. The total import volume increased at an average annual rate of +3.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 when imports increased by 27% against the previous year. Over the period under review, imports reached the maximum at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, polyethylene binder imports skyrocketed to $X in 2022. The total import value increased at an average annual rate of +3.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 27% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in years to come.

Imports by Country

In 2022, Japan (X tons), distantly followed by Myanmar (X tons), Kazakhstan (X tons), Turkey (X tons), Oman (X tons) and Jordan (X tons) represented the largest importers of polyethylene or polypropylene binder or baler (agricultural) twines, together constituting 58% of total imports. The following importers - the United Arab Emirates (X tons), Israel (X tons), Kyrgyzstan (X tons), Cambodia (X tons), Mongolia (X tons), Malaysia (X tons) and Hong Kong SAR (X tons) - together made up 24% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Jordan (with a CAGR of +72.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), Kazakhstan ($X) and Turkey ($X) constituted the countries with the highest levels of imports in 2022, together accounting for 43% of total imports. Myanmar, Jordan, Israel, Cambodia, Kyrgyzstan, Mongolia, Oman, the United Arab Emirates, Malaysia and Hong Kong SAR lagged somewhat behind, together comprising a further 37%.

Among the main importing countries, Jordan, with a CAGR of +72.4%, 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 2022, the import price in Asia amounted to $X per ton, rising by 5.1% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the import price increased by 15% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

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 Kazakhstan ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kazakhstan (+3.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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