Eastern Asia: Polyethylene Market 2024

Polyethylene Market Size in Eastern Asia

The East Asian polyethylene market reduced to $X in 2022, which is down by X% against the previous year. Overall, consumption showed a perceptible slump. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Polyethylene Production in Eastern Asia

In value terms, polyethylene production shrank to $X in 2022 estimated in export price. Overall, production saw a abrupt decline. The most prominent rate of growth was recorded in 2021 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Polyethylene Exports

Exports in Eastern Asia

In 2022, after four years of growth, there was significant decline in shipments abroad of primary polyethylene with a specific gravity of over X, when their volume decreased by X% to X tons. The total export volume increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. The volume of export peaked at X tons in 2021, and then declined in the following year.

In value terms, polyethylene exports fell to $X in 2022. Overall, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, South Korea (X tons) was the key exporter of primary polyethylene with a specific gravity of over X, comprising X% of total exports. China (X tons) held the second position in the ranking, followed by Taiwan (Chinese) (X tons) and Japan (X tons). All these countries together took approx. X% share of total exports. Hong Kong SAR (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to polyethylene exports from South Korea stood at X%. At the same time, China (X%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of X% from 2012-2022. By contrast, Japan (X%), Taiwan (Chinese) (X%) and Hong Kong SAR (X%) illustrated a downward trend over the same period. While the share of China (X p.p.) and South Korea (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Japan (X p.p.), Taiwan (Chinese) (X p.p.) and Hong Kong SAR (X p.p.) displayed negative dynamics.

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

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

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, stabilizing at the previous year. In general, the export price, however, recorded a slight contraction. The growth pace was the most rapid in 2021 an increase of X% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in China ($X per ton) and Hong Kong SAR ($X per ton), while Japan ($X per ton) and Taiwan (Chinese) ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the other leaders experienced a decline in the export price figures.

Polyethylene Imports

Imports in Eastern Asia

In 2022, purchases abroad of primary polyethylene with a specific gravity of over X decreased by X% to X tons, falling for the second year in a row after four years of growth. Total imports indicated a moderate 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 decreased by X% against 2020 indices. The growth pace was the most rapid in 2017 with an increase of X%. Over the period under review, imports reached the maximum at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, polyethylene imports declined to $X in 2022. The total import value increased at an average annual rate of X% 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 X%. The level of import peaked at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

China dominates imports structure, reaching X tons, which was near X% of total imports in 2022. Japan (X tons) followed a long way behind the leaders.

China was also the fastest-growing in terms of the primary polyethylene with a specific gravity of over X imports, with a CAGR of X% from 2012 to 2022. At the same time, Japan (X%) displayed positive paces of growth. China (X p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported primary polyethylene with a specific gravity of over X in Eastern Asia, comprising X% of total imports. The second position in the ranking was taken by Japan ($X), with a X% share of total imports.

In China, polyethylene imports expanded at an average annual rate of X% over the period from 2012-2022.

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per ton, with an increase of X% against the previous year. Over the period under review, the import price, however, recorded a noticeable decrease. The pace of growth was the most pronounced in 2021 when the import price increased by X%. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per ton), while China stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (X%).

Source: IndexBox Platform

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