ASEAN: Plastic Box Market 2024

Plastic Box Market Size in ASEAN

The ASEAN plastic box market reduced slightly to $X in 2022, which is down by -4.9% against the previous year. The total consumption indicated mild growth from 2012 to 2022: its value increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +3.0% against 2020 indices. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Plastic Box Production in ASEAN

In value terms, plastic box production declined slightly to $X in 2022 estimated in export price. The total production indicated a mild expansion from 2012 to 2022: its value increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +4.4% against 2020 indices. The growth pace was the most rapid in 2015 with an increase of 16% against the previous year. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Plastic Box Exports

Exports in ASEAN

In 2022, plastic box exports in ASEAN expanded rapidly to X tons, with an increase of 12% compared with 2021. Total exports indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +79.8% against 2017 indices. The pace of growth appeared the most rapid in 2018 when exports increased by 25%. The volume of export peaked in 2022 and is likely to continue growth in years to come.

In value terms, plastic box exports shrank to $X in 2022. The total export value increased at an average annual rate of +3.2% 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 2021 with an increase of 21% against the previous year. As a result, the exports reached the peak of $X, and then shrank modestly in the following year.

Exports by Country

Malaysia (X tons) and Thailand (X tons) prevails in exports structure, together committing 79% of total exports. Singapore (X tons) took a 6% share (based on physical terms) of total exports, which put it in second place, followed by Vietnam (5.7%) and Indonesia (4.5%). Myanmar (X tons) held a little share of total exports.

From 2012 to 2022, the biggest increases were recorded for Myanmar (with a CAGR of +61.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest plastic box supplying countries in ASEAN were Thailand ($X), Malaysia ($X) and Indonesia ($X), together accounting for 80% of total exports. Vietnam, Singapore and Myanmar lagged somewhat behind, together accounting for a further 17%.

In terms of the main exporting countries, Myanmar, with a CAGR of +44.4%, saw the highest growth rate of the value of exports, 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, reducing by -14.4% against the previous year. In general, the export price recorded a pronounced reduction. The most prominent rate of growth was recorded in 2016 an increase of 9.5% against the previous year. The level of export peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices remained at a 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 Indonesia ($X per ton), while Myanmar ($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 (+4.8%), while the other leaders experienced more modest paces of growth.

Plastic Box Imports

Imports in ASEAN

Plastic box imports dropped to X tons in 2022, which is down by -9.1% on the previous year's figure. Total imports indicated a prominent increase from 2012 to 2022: its volume increased at an average annual rate of +8.2% 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 +13.5% against 2020 indices. The pace of growth was the most pronounced in 2013 with an increase of 38%. Over the period under review, imports reached the peak figure at X tons in 2021, and then shrank in the following year.

In value terms, plastic box imports declined to $X in 2022. Total imports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +7.7% 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 +5.8% against 2018 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 32% against the previous year. As a result, imports reached the peak of $X, and then contracted in the following year.

Imports by Country

Thailand (X tons) and the Philippines (X tons) represented roughly 50% of total imports in 2022. Indonesia (X tons) took a 13% share (based on physical terms) of total imports, which put it in second place, followed by Vietnam (12%), Malaysia (9.1%) and Singapore (7.5%). Myanmar (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Myanmar (with a CAGR of +22.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X) constitutes the largest market for imported plastic boxes, cases, crates and similar packing articles in ASEAN, comprising 33% of total imports. The second position in the ranking was taken by Malaysia ($X), with a 14% share of total imports. It was followed by Vietnam, with a 13% share.

In Thailand, plastic box imports expanded at an average annual rate of +7.9% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Malaysia (+8.7% per year) and Vietnam (+6.9% per year).

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2022, remaining relatively unchanged against the previous year. Overall, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 14% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+3.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform