ASEAN: Polystyrene Market 2024

Polystyrene Market Size in ASEAN

The ASEAN polystyrene market rose slightly to $X in 2022, surging by X% against the previous year. The market 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. Over the period under review, the market hit record highs in 2022 and is likely to continue growth in the immediate term.

Polystyrene Production in ASEAN

In value terms, polystyrene production contracted modestly to $X in 2022 estimated in export price. Overall, production, however, showed a noticeable contraction. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Polystyrene Exports

Exports in ASEAN

In 2022, shipments abroad of polystyrene decreased by X% to X tons, falling for the third year in a row after two years of growth. In general, exports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. The volume of export peaked at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, polystyrene exports contracted to $X in 2022. Over the period under review, exports saw a perceptible decrease. The most prominent rate of growth was recorded in 2018 when exports increased by X%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Malaysia represented the key exporter of polystyrene in ASEAN, with the volume of exports resulting at X tons, which was near X% of total exports in 2022. Thailand (X tons) ranks second in terms of the total exports with a X% share, followed by Singapore (X%), Indonesia (X%) and Vietnam (X%).

From 2012 to 2022, average annual rates of growth with regard to polystyrene exports from Malaysia stood at X%. At the same time, Indonesia (X%) and Vietnam (X%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of X% from 2012-2022. By contrast, Thailand (X%) and Singapore (X%) illustrated a downward trend over the same period. Malaysia (X p.p.), Indonesia (X p.p.) and Vietnam (X p.p.) significantly strengthened its position in terms of the total exports, while Thailand and Singapore saw its share reduced by X% and X% from 2012 to 2022, respectively.

In value terms, Malaysia ($X) remains the largest polystyrene supplier in ASEAN, comprising X% of total exports. The second position in the ranking was held by Singapore ($X), with a X% share of total exports. It was followed by Thailand, with an X% share.

From 2012 to 2022, the average annual growth rate of value in Malaysia totaled X%. In the other countries, the average annual rates were as follows: Singapore (X% per year) and Thailand (X% per year).

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, approximately mirroring the previous year. Overall, the export price, however, showed a noticeable shrinkage. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

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 Vietnam ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

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

Polystyrene Imports

Imports in ASEAN

In 2022, overseas purchases of polystyrene decreased by X% to X tons, falling for the second year in a row after three years of growth. Overall, imports, however, posted a prominent expansion. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, polystyrene imports totaled $X in 2022. Total imports indicated a pronounced expansion from 2012 to 2022: its value 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 increased by X% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by X%. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

Malaysia (X tons) and Vietnam (X tons) represented roughly X% of total imports in 2022. Indonesia (X tons) held the next position in the ranking, followed by Thailand (X tons) and the Philippines (X tons). All these countries together took approx. X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Malaysia (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), Malaysia ($X) and Indonesia ($X) were the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Thailand and the Philippines lagged somewhat behind, together comprising a further X%.

The Philippines, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2022, increasing by X% against the previous year. In general, the import price, however, showed a mild slump. The most prominent rate of growth was recorded in 2021 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform