Asia: Ethylene Polymer Bag Market 2024

Ethylene Polymer Bag Market Size in Asia

The Asian ethylene polymer bag market reduced slightly to $X in 2022, declining by -1.6% against the previous year. The market value increased at an average annual rate of +2.9% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Ethylene Polymer Bag Production in Asia

In value terms, ethylene polymer bag production fell modestly to $X in 2022 estimated in export price. The total production indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +2.1% 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 +3.2% against 2020 indices. The most prominent rate of growth was recorded in 2014 with an increase of 15% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Ethylene Polymer Bag Exports

Exports in Asia

For the sixth consecutive year, Asia recorded growth in overseas shipments of sacks and bags of polymers of ethylene, which increased by 2.7% to X tons in 2022. The total export volume increased at an average annual rate of +2.3% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The growth pace was the most rapid in 2017 when exports increased by 23% against the previous year. The volume of export peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, ethylene polymer bag exports stood at $X in 2022. The total export value increased at an average annual rate of +3.9% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 14% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

China was the main exporter of sacks and bags of polymers of ethylene in Asia, with the volume of exports reaching X tons, which was near 40% of total exports in 2022. Vietnam (X tons) ranks second in terms of the total exports with a 20% share, followed by Thailand (9.8%), Turkey (6.6%) and Malaysia (6.4%). India (X tons) and Indonesia (X tons) held a little share of total exports.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +11.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the largest ethylene polymer bag supplier in Asia, comprising 45% of total exports. The second position in the ranking was held by Vietnam ($X), with a 15% share of total exports. It was followed by Thailand, with a 9.4% share.

In China, ethylene polymer bag exports expanded at an average annual rate of +3.3% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Vietnam (+11.1% per year) and Thailand (+3.1% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, remaining relatively unchanged against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.5%. The growth pace was the most rapid in 2021 when the export price increased by 14%. The level of export peaked at $X per ton in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

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

Ethylene Polymer Bag Imports

Imports in Asia

In 2022, after three years of decline, there was growth in purchases abroad of sacks and bags of polymers of ethylene, when their volume increased by 4.8% to X tons. The total import volume increased at an average annual rate of +1.3% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2016 when imports increased by 7.2%. Over the period under review, imports reached the peak figure at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, ethylene polymer bag imports expanded markedly to $X in 2022. The total import value increased at an average annual rate of +2.2% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Japan prevails in imports structure, resulting at X tons, which was near 56% of total imports in 2022. Hong Kong SAR (X tons) ranks second in terms of the total imports with a 7.1% share, followed by Kazakhstan (4.6%). Vietnam (X tons), Thailand (X tons), Singapore (X tons), Indonesia (X tons), Israel (X tons), South Korea (X tons), China (X tons) and Cambodia (X tons) held a relatively small share of total imports.

Japan experienced a relatively flat trend pattern with regard to volume of imports of sacks and bags of polymers of ethylene. At the same time, Thailand (+18.8%), Cambodia (+18.3%), South Korea (+14.3%), Israel (+13.2%), Vietnam (+13.1%), Indonesia (+4.5%), Kazakhstan (+3.7%) and Singapore (+1.7%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing importer imported in Asia, with a CAGR of +18.8% from 2012-2022. China experienced a relatively flat trend pattern. By contrast, Hong Kong SAR (-3.0%) illustrated a downward trend over the same period. Thailand (+2.1 p.p.) and Vietnam (+1.9 p.p.) significantly strengthened its position in terms of the total imports, while Hong Kong SAR and Japan saw its share reduced by -3.9% and -8.5% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) constitutes the largest market for imported sacks and bags of polymers of ethylene in Asia, comprising 49% of total imports. The second position in the ranking was held by Hong Kong SAR ($X), with a 5% share of total imports. It was followed by China, with a 4.2% share.

From 2012 to 2022, the average annual growth rate of value in Japan was relatively modest. In the other countries, the average annual rates were as follows: Hong Kong SAR (-2.5% per year) and China (+0.0% per year).

Import Prices by Country

In 2022, the import price in Asia amounted to $X per ton, surging by 4.5% against the previous year. In general, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 9.4% against the previous year. The level of import peaked at $X per ton in 2014; afterwards, it flattened through to 2022.

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 China ($X per ton), while Kazakhstan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cambodia (+5.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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