ASEAN: Packaging Materials Market 2024

Packaging Materials Market Size in ASEAN

The ASEAN packaging materials market expanded to $X in 2022, surging by 2.1% against the previous year. The total consumption indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by +0.6% against 2019 indices. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the immediate term.

Packaging Materials Production in ASEAN

In value terms, packaging materials production shrank slightly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of 42%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Packaging Materials Exports

Exports in ASEAN

In 2022, overseas shipments of packaging materials decreased by -23.9% to X tons, falling for the second consecutive year after four years of growth. Overall, exports, however, showed a resilient expansion. The pace of growth appeared the most rapid in 2020 when exports increased by 41%. As a result, the exports attained the peak of X tons. From 2021 to 2022, the growth of the exports failed to regain momentum.

In value terms, packaging materials exports reduced to $X in 2022. Total exports indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 when exports increased by 18%. Over the period under review, the exports attained the maximum at $X in 2021, and then dropped in the following year.

Exports by Country

In 2022, Indonesia (X tons) was the major exporter of packaging materials, constituting 42% of total exports. Thailand (X tons) held a 22% share (based on physical terms) of total exports, which put it in second place, followed by Vietnam (15%), Malaysia (12%) and Singapore (7.3%).

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +16.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest packaging materials supplying countries in ASEAN were Indonesia ($X), Singapore ($X) and Thailand ($X), together comprising 76% of total exports. Vietnam and Malaysia lagged somewhat behind, together accounting for a further 23%.

Vietnam, with a CAGR of +14.3%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, with an increase of 18% against the previous year. Over the period under review, the export price, however, continues to indicate a noticeable contraction. The pace of growth was the most pronounced in 2021 an increase of 28%. Over the period under review, the export prices reached the maximum at $X per ton in 2012; however, from 2013 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 Singapore ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+2.6%), while the other leaders experienced mixed trends in the export price figures.

Packaging Materials Imports

Imports in ASEAN

In 2022, approx. X tons of packaging materials were imported in ASEAN; picking up by 4.4% on 2021. The total import volume increased at an average annual rate of +4.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when imports increased by 23% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the near future.

In value terms, packaging materials imports rose slightly to $X in 2022. The total import value increased at an average annual rate of +4.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 23%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

Imports by Country

Vietnam (X tons), Malaysia (X tons), Thailand (X tons), Indonesia (X tons) and the Philippines (X tons) represented roughly 88% of total imports in 2022. It was distantly followed by Singapore (X tons), generating a 6% share of total imports. Cambodia (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Cambodia (with a CAGR of +10.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), Thailand ($X) and Malaysia ($X) were the countries with the highest levels of imports in 2022, together accounting for 59% of total imports. Indonesia, the Philippines, Singapore and Cambodia lagged somewhat behind, together accounting for a further 40%.

Cambodia, with a CAGR of +12.8%, saw the highest growth rate of the value of imports, among 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

In 2022, the import price in ASEAN amounted to $X per ton, stabilizing at the previous year. Overall, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the import price increased by 17%. Over the period under review, import prices reached the maximum in 2022 and is expected to retain growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+4.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform