Stats: China rapidly expands its share in SE Asia’s PP markets

Data from ChemOrbis Stats Wizard Pro reveal that China’s PP exports to Southeast Asia surged significantly in the first eight months of 2024, marking a dramatic shift in market dynamics across key importing countries. This growth highlights China’s increasing influence in the region’s PP market, as it rapidly expands its foothold at the expense of other suppliers.

Below is a detailed breakdown of PP imports across five major Southeast Asian countries and how China’s share has evolved.

Indonesia: Imports from China more than double

Indonesia’s total PP imports reached almost 975,000 tons from January to August 2024, marking a year-on-year increase of 16%. Although Singapore remained the top supplier with around 175,000 tons and 18% market share, its sales and market share experienced a marginal decrease. China played a significant role in this growth, with its exports to Indonesia more than doubling to 140,170 tons from the same period in 2023—a staggering 132% increase. China now holds 14.4% of Indonesia’s import market, becoming the third-largest supplier, behind Vietnam.

Vietnam also posted a significant increase, ranking second with 166,250 tons and a 17% market share.

The top three suppliers were followed by South Korea (124,210 tons) and Thailand (118,270 tons) in the first eight months.

Vietnam: China gains ground as imports surge

Vietnam’s PP imports saw strong growth, rising by 17% to 955,000 tons in the first eight months of 2024, compared to 813,000 tons in 2023. China’s presence in Vietnam expanded sharply, with exports jumping 120% to 247,000 tons from just 112,000 tons last year. China’s market share also increased, reaching 26%.

This expansion positioned China as the second-largest supplier, behind South Korea, which retained its top spot with slight gains in both sales volume (302,400 tons) and market share (32%).

Saudi Arabia held onto third place, though it saw declines in both market share (6.3%) and sales volume (60,640 tons).

Thailand: China’s growth outpaces other suppliers

Thailand’s PP imports rose by 22% during January-August, with the total volume increasing to 313,000 tons from 257,000 tons in 2023. Imports from China soared by around 160%, reaching 89,000 tons, compared to 34,000 tons in 2023—the largest year-on-year gain among Thailand’s suppliers. China’s market share climbed to 28.4%, propelling it from third place to first.

South Korea, which was the top supplier in 2023, dropped to second despite maintaining a similar market share and increasing sales volume.

Singapore moved up the list, with sales increasing to 36,910 tons, though its market share slightly declined to 12%.

The top three countries were followed by Saudi Arabia (28,430 tons) and Vietnam (23,390 tons), with Saudi Arabia’s market share nearly halved due to a significant drop in sales.

Malaysia: Chinese sales rise amid declining overall imports

Malaysia experienced a 15% decline in total PP imports, with the volume falling to 322,000 tons in the first eight months of 2024, down from 381,000 tons a year earlier. Despite this, imports from China surged by 93%, reaching almost 29,000 tons.

Saudi Arabia retained its position as the top supplier, despite seeing a sharp 52% drop in sales volume, which fell to 90,340 tons. Its market share also dropped from 49% to 28%.

Singapore maintained its second position, significantly increasing sales to 72,290 tons, with a market share of 22%.

The U.S. ranked third again, with small gains in both sales (34,510 tons) and market share (11%).

China entered the top four, boosting its market share to 9%.

Philippines: China becomes top supplier

The Philippines imported around 142,000 tons of PP in the first eight months of 2024, up 11% from the same period in 2023. China’s exports to the Philippines rose sharply to over 26,000 tons in 2024, from just 9,000 tons in 2023—a remarkable 189% increase.

China now holds a 19% market share and has jumped to the top supplier position, up from seventh place last year.

Thailand, last year’s top supplier, contributed 23,930 tons and held a 17% market share, though it lost some ground despite a slight increase in sales volume.

Singapore remained the third-largest supplier, with little change in either sales volume (19,930 tons) or market share (14%).