ASEAN: Plastic Reservoir Market 2024

Plastic Reservoir Market Size in ASEAN

The ASEAN plastic reservoir market was estimated at $X in 2022, remaining relatively unchanged against the previous year. Overall, consumption, however, continues to indicate a pronounced descent. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Plastic Reservoir Production in ASEAN

In value terms, plastic reservoir production declined to $X in 2022 estimated in export price. Over the period under review, production, however, saw a pronounced reduction. The pace of growth was the most pronounced in 2019 with an increase of 47%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Plastic Reservoir Exports

Exports in ASEAN

In 2022, the amount of plastic reservoirs, tanks and vats exported in ASEAN declined rapidly to X tons, dropping by -26.8% against 2021. Total exports indicated a tangible expansion from 2012 to 2022: its volume increased at an average annual rate of +2.0% 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 +52.6% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 108%. As a result, the exports attained the peak of X tons, and then contracted rapidly in the following year.

In value terms, plastic reservoir exports contracted remarkably to $X in 2022. In general, exports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 71%. As a result, the exports reached the peak of $X, and then contracted sharply in the following year.

Exports by Country

Malaysia prevails in exports structure, amounting to X tons, which was approx. 79% of total exports in 2022. Thailand (X tons) ranks second in terms of the total exports with an 8.9% share, followed by Indonesia (4.7%). The following exporters - the Philippines (X tons) and Vietnam (X tons) - together made up 4.5% of total exports.

Malaysia experienced a relatively flat trend pattern with regard to volume of exports of plastic reservoirs, tanks and vats. At the same time, the Philippines (+23.2%), Vietnam (+22.8%), Indonesia (+14.0%) and Thailand (+6.4%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +23.2% from 2012-2022. Indonesia (+3.2 p.p.), Thailand (+3 p.p.), the Philippines (+2.3 p.p.) and Vietnam (+1.5 p.p.) significantly strengthened its position in terms of the total exports, while Malaysia saw its share reduced by -9.7% from 2012 to 2022, respectively.

In value terms, Malaysia ($X) remains the largest plastic reservoir supplier in ASEAN, comprising 71% of total exports. The second position in the ranking was held by Thailand ($X), with an 11% share of total exports. It was followed by the Philippines, with a 5.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Malaysia was relatively modest. In the other countries, the average annual rates were as follows: Thailand (+2.2% per year) and the Philippines (+20.9% per year).

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2022, surging by 4.3% against the previous year. Over the period under review, the export price, however, showed a mild decrease. The growth pace was the most rapid in 2019 when the export price increased by 9% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2020 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 the Philippines ($X per ton), while Indonesia ($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 (-0.1%), while the other leaders experienced a decline in the export price figures.

Plastic Reservoir Imports

Imports in ASEAN

Plastic reservoir imports surged to X tons in 2022, jumping by 19% against the previous year. In general, imports showed resilient growth. The pace of growth was the most pronounced in 2013 when imports increased by 75% against the previous year. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, plastic reservoir imports reached $X in 2022. Total imports indicated a strong increase from 2012 to 2022: its value 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 +60.8% against 2020 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 65%. The level of import peaked in 2022 and is likely to continue growth in years to come.

Imports by Country

In 2022, Singapore (X tons) was the largest importer of plastic reservoirs, tanks and vats, constituting 52% of total imports. The Philippines (X tons) held a 15% share (based on physical terms) of total imports, which put it in second place, followed by Vietnam (8.9%), Thailand (8.6%) and Lao People's Democratic Republic (4.9%). The following importers - Malaysia (X tons) and Indonesia (X tons) - together made up 7.1% of total imports.

Imports into Singapore increased at an average annual rate of +13.6% from 2012 to 2022. At the same time, Indonesia (+21.7%), the Philippines (+18.6%), Lao People's Democratic Republic (+14.8%), Thailand (+7.0%) and Vietnam (+5.6%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +21.7% from 2012-2022. By contrast, Malaysia (-2.0%) illustrated a downward trend over the same period. While the share of Singapore (+10 p.p.), the Philippines (+7 p.p.) and Indonesia (+1.6 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Thailand (-4.1 p.p.), Vietnam (-6 p.p.) and Malaysia (-11.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) constitutes the largest market for imported plastic reservoirs, tanks and vats in ASEAN, comprising 52% of total imports. The second position in the ranking was held by Thailand ($X), with a 12% share of total imports. It was followed by Vietnam, with an 11% share.

From 2012 to 2022, the average annual growth rate of value in Singapore totaled +9.9%. The remaining importing countries recorded the following average annual rates of imports growth: Thailand (+12.1% per year) and Vietnam (+3.6% per year).

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2022, reducing by -12.9% against the previous year. In general, the import price saw a noticeable decrease. The pace of growth was the most pronounced in 2021 when the import price increased by 21% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+4.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform