China: Compound Plasticisers Market 2023

Compound Plasticisers Market Size in China

In 2021, the Chinese compound plasticisers market decreased by -1.2% to $X, falling for the fourth consecutive year after two years of growth. In general, consumption saw a deep contraction. The pace of growth was the most pronounced in 2016 when the market value increased by 4.5% against the previous year. Compound plasticisers consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Compound Plasticisers Production in China

In value terms, compound plasticisers production rose rapidly to $X in 2021 estimated in export price. Over the period under review, production, however, showed a perceptible decrease. The most prominent rate of growth was recorded in 2017 when the production volume increased by 8.3%. Compound plasticisers production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Compound Plasticisers Exports

Exports from China

For the third year in a row, China recorded growth in shipments abroad of compound plasticisers for rubber or plastics, which increased by 78% to X tons in 2021. Overall, exports showed a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, compound plasticisers exports soared to $X in 2021. In general, exports enjoyed a resilient increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Vietnam (X tons), the Philippines (X tons) and Indonesia (X tons) were the main destinations of compound plasticisers exports from China, together comprising 46% of total exports. Thailand, Taiwan (Chinese), India, Japan, South Korea, Malaysia, Bangladesh, Singapore, the United Arab Emirates and Hong Kong SAR lagged somewhat behind, together comprising a further 42%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Bangladesh (with a CAGR of +60.4%), while the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X) remains the key foreign market for compound plasticisers for rubber or plastics exports from China, comprising 26% of total exports. The second position in the ranking was held by Thailand ($X), with a 10% share of total exports. It was followed by the Philippines, with a 9.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Vietnam totaled +41.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+27.4% per year) and the Philippines (+40.9% per year).

Export Prices by Country

The average compound plasticisers export price stood at $X per ton in 2021, growing by 6.9% against the previous year. Overall, the export price, however, continues to indicate a perceptible reduction. The pace of growth appeared the most rapid in 2016 when the average export price increased by 18%. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+3.2%), while the prices for the other major destinations experienced more modest paces of growth.

Compound Plasticisers Imports

Imports into China

In 2021, overseas purchases of compound plasticisers for rubber or plastics were finally on the rise to reach X tons after two years of decline. Over the period under review, imports, however, saw a relatively flat trend pattern. Over the period under review, imports attained the peak figure at X tons in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, compound plasticisers imports skyrocketed to $X in 2021. Overall, imports showed a relatively flat trend pattern. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

Taiwan (Chinese) (X tons), Germany (X tons) and Malaysia (X tons) were the main suppliers of compound plasticisers imports to China, with a combined 59% share of total imports. These countries were followed by Japan, the United States, South Korea and Singapore, which together accounted for a further 34%.

From 2012 to 2021, the biggest increases were recorded for Japan (with a CAGR of +24.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest compound plasticisers suppliers to China were Germany ($X), Japan ($X) and Taiwan (Chinese) ($X), with a combined 56% share of total imports.

Japan, with a CAGR of +16.1%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average compound plasticisers import price amounted to $X per ton, surging by 6.2% against the previous year. In general, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the average import price increased by 23% against the previous year. As a result, import price reached the peak level of $X per ton. From 2018 to 2021, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Singapore ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+11.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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