Eastern Asia: Ethylene Polymer Bag Market 2024

Ethylene Polymer Bag Market Size in Eastern Asia

The East Asian ethylene polymer bag market expanded slightly to $X in 2022, picking up by 2.1% against the previous year. The market value increased at an average annual rate of +2.2% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market remained at a somewhat lower figure.

Ethylene Polymer Bag Production in Eastern Asia

In value terms, ethylene polymer bag production dropped modestly to $X in 2022 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 23% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2022, production growth remained at a lower figure.

Ethylene Polymer Bag Exports

Exports in Eastern Asia

In 2022, overseas shipments of sacks and bags of polymers of ethylene increased by 2.4% to X tons, rising for the second year in a row after two years of decline. In general, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 47%. The volume of export peaked at X tons in 2018; afterwards, it flattened through to 2022.

In value terms, ethylene polymer bag exports rose to $X in 2022. The total export value increased at an average annual rate of +3.0% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 16% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Exports by Country

China dominates exports structure, resulting at X tons, which was near 90% of total exports in 2022. It was distantly followed by Taiwan (Chinese) (X tons), making up a 5.2% share of total exports. South Korea (X tons) took a little share of total exports.

China experienced a relatively flat trend pattern with regard to volume of exports of sacks and bags of polymers of ethylene. At the same time, South Korea (+4.5%) and Taiwan (Chinese) (+4.4%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +4.5% from 2012-2022. While the share of Taiwan (Chinese) (+1.9 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest ethylene polymer bag supplier in Eastern Asia, comprising 86% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 5.6% share of total exports.

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: Taiwan (Chinese) (+4.0% per year) and South Korea (+6.5% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, rising by 2.2% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.1%. The pace of growth appeared the most rapid in 2016 an increase of 38% against the previous year. As a result, the export price attained the peak level of $X per ton. 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 South Korea ($X per ton), while China ($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 mixed trends in the export price figures.

Ethylene Polymer Bag Imports

Imports in Eastern Asia

In 2022, overseas purchases of sacks and bags of polymers of ethylene were finally on the rise to reach X tons after two years of decline. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 4.4% against the previous year. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, ethylene polymer bag imports amounted to $X in 2022. In general, imports showed a relatively flat trend pattern. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Japan represented the largest importer of sacks and bags of polymers of ethylene in Eastern Asia, with the volume of imports amounting to X tons, which was near 83% of total imports in 2022. It was distantly followed by Hong Kong SAR (X tons), mixing up a 10% share of total imports. South Korea (X tons) and China (X tons) followed a long way behind the leaders.

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, South Korea (+14.3%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +14.3% 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. South Korea (+2 p.p.) significantly strengthened its position in terms of the total imports, while Hong Kong SAR saw its share reduced by -3.5% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) constitutes the largest market for imported sacks and bags of polymers of ethylene in Eastern Asia, comprising 77% of total imports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 7.8% share of total imports. It was followed by China, with a 6.6% share.

In Japan, ethylene polymer bag imports remained relatively stable over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Hong Kong SAR (-2.5% per year) and China (+0.0% per year).

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per ton, growing by 7.1% 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 when the import price increased by 8.7% against the previous year. Over the period under review, import prices attained the maximum 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 ($X per ton), while Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+0.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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