Overview of the Global Market for Polyethylene in Primary Forms

Market Size for Polyethylene in Primary Forms

In 2021, the global polyethylene in primary forms market was finally on the rise to reach $X after three years of decline. Overall, consumption showed a mild curtailment. Over the period under review, the global market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Production of Polyethylene in Primary Forms

In value terms, polyethylene in primary forms production expanded remarkably to $X in 2021 estimated in export price. In general, production saw a perceptible reduction. Over the period under review, global production hit record highs at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Exports of Polyethylene in Primary Forms

Exports

In 2021, after six years of growth, there was decline in shipments abroad of polyethylene in primary forms, when their volume decreased by -4.7% to X tons. The total export volume increased at an average annual rate of +2.5% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 with an increase of 9.7% against the previous year. Over the period under review, the global exports attained the maximum at X tons in 2020, and then dropped slightly in the following year.

In value terms, polyethylene in primary forms exports soared to $X in 2021. The total export value increased at an average annual rate of +1.5% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. Over the period under review, the global exports reached the peak figure at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, Saudi Arabia (X tons), distantly followed by the United States (X tons), the United Arab Emirates (X tons), Belgium (X tons), Iran (X tons) and South Korea (X tons) were the main exporters of polyethylene in primary forms, together making up 53% of total exports. The following exporters - Thailand (X tons), Singapore (X tons), Germany (X tons), Canada (X tons), the Netherlands (X tons), Russia (X tons) and Malaysia (X tons) - together made up 24% of total exports.

From 2012 to 2021, the biggest increases were recorded for Russia (with a CAGR of +17.0%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, the largest polyethylene in primary forms supplying countries worldwide were Saudi Arabia ($X), the United States ($X) and Belgium ($X), together accounting for 37% of global exports. The United Arab Emirates, Germany, Iran, South Korea, Canada, the Netherlands, Singapore, Russia and Malaysia lagged somewhat behind, together accounting for a further 38%.

In terms of the main exporting countries, Russia, with a CAGR of +13.7%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average polyethylene in primary forms export price amounted to $X per ton, increasing by 46% against the previous year. Over the period under review, the export price, however, showed a mild slump. The global export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+2.7%), while the other global leaders experienced more modest paces of growth.

Imports of Polyethylene in Primary Forms

Imports

After nine years of growth, purchases abroad of polyethylene in primary forms decreased by -2.4% to X tons in 2021. The total import volume increased at an average annual rate of +3.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2017 with an increase of 7.5% against the previous year. Global imports peaked at X tons in 2020, and then dropped slightly in the following year.

In value terms, polyethylene in primary forms imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +2.3% from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China represented the largest importer of polyethylene in primary forms in the world, with the volume of imports reaching X tons, which was approx. 20% of total imports in 2021. The following importers - Germany (X tons), Turkey (X tons), Belgium (X tons), the United States (X tons), Vietnam (X tons), Italy (X tons), Mexico (X tons), India (X tons), Singapore (X tons), Poland (X tons), France (X tons) and the UK (X tons) - together made up 39% of total imports.

Imports into China increased at an average annual rate of +6.3% from 2012 to 2021. At the same time, Vietnam (+10.7%), Poland (+5.4%), Turkey (+5.1%), the United States (+3.3%), Mexico (+3.3%), Italy (+1.9%) and Belgium (+1.2%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in the world, with a CAGR of +10.7% from 2012-2021. India, Germany and Singapore experienced a relatively flat trend pattern. By contrast, France (-1.3%) and the UK (-1.6%) illustrated a downward trend over the same period. While the share of China (+5.1 p.p.) and Vietnam (+1.7 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported polyethylene in primary forms worldwide, comprising 17% of global imports. The second position in the ranking was held by Germany ($X), with a 5.2% share of global imports. It was followed by the United States, with a 4.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China totaled +4.7%. In the other countries, the average annual rates were as follows: Germany (-0.1% per year) and the United States (+6.1% per year).

Import Prices by Country

The average polyethylene in primary forms import price stood at $X per ton in 2021, jumping by 43% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. Global import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Mexico ($X per ton), while Singapore ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+2.7%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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