ASEAN: Plastic Bag Market 2024

Plastic Bag Market Size in ASEAN

The ASEAN plastic bag market was estimated at $X in 2022, leveling off at the previous year. The market value increased at an average annual rate of +2.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2017 when the market value increased by 8.9%. The level of consumption peaked at $X in 2020; afterwards, it flattened through to 2022.

Plastic Bag Production in ASEAN

In value terms, plastic bag production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.5% from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The growth pace was the most rapid in 2018 with an increase of 8.4%. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Plastic Bag Exports

Exports in ASEAN

In 2022, the amount of plastic sacks and bags exported in ASEAN totaled X tons, picking up by 3% against 2021. The total export volume increased at an average annual rate of +2.9% 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 2019 with an increase of 16% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, plastic bag exports amounted to $X in 2022. The total export value increased at an average annual rate of +3.3% 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 2019 when exports increased by 15% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are likely to continue growth in the immediate term.

Exports by Country

Vietnam was the major exporter of plastic sacks and bags in ASEAN, with the volume of exports reaching X tons, which was approx. 47% of total exports in 2022. Thailand (X tons) ranks second in terms of the total exports with a 23% share, followed by Malaysia (17%) and Indonesia (7.9%). The following exporters - the Philippines (X tons) and Singapore (X tons) - each finished at a 3.4% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +11.7%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, Vietnam ($X), Thailand ($X) and Malaysia ($X) were the countries with the highest levels of exports in 2022, together comprising 86% of total exports.

Vietnam, with a CAGR of +11.4%, saw the highest growth rate of the value of exports, in terms of 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

The export price in ASEAN stood at $X per ton in 2022, falling by -2% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the export price increased by 15% against the previous year. As a result, the export price reached the peak level of $X per ton, and then contracted slightly in the following year.

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 the Philippines (+4.1%), while the other leaders experienced more modest paces of growth.

Plastic Bag Imports

Imports in ASEAN

In 2022, supplies from abroad of plastic sacks and bags increased by 6.7% to X tons, rising for the third year in a row after two years of decline. Total imports indicated a buoyant expansion from 2012 to 2022: its volume 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 +28.9% against 2019 indices. The pace of growth appeared the most rapid in 2017 with an increase of 21%. Over the period under review, imports attained the peak figure in 2022 and are likely to see gradual growth in the immediate term.

In value terms, plastic bag imports totaled $X in 2022. Total imports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +5.5% 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 +71.3% against 2012 indices. The most prominent rate of growth was recorded in 2017 with an increase of 13% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, Thailand (X tons), distantly followed by Vietnam (X tons), Singapore (X tons), the Philippines (X tons), Indonesia (X tons), Malaysia (X tons), Cambodia (X tons) and Lao People's Democratic Republic (X tons) were the key importers of plastic sacks and bags, together making up 96% of total imports.

From 2012 to 2022, the biggest increases were recorded for Lao People's Democratic Republic (with a CAGR of +22.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest plastic bag importing markets in ASEAN were Thailand ($X), Singapore ($X) and Vietnam ($X), with a combined 57% share of total imports. Indonesia, Malaysia, the Philippines, Cambodia and Lao People's Democratic Republic lagged somewhat behind, together accounting for a further 41%.

Lao People's Democratic Republic, with a CAGR of +14.8%, 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, dropping by -2.1% against the previous year. In general, the import price recorded a pronounced descent. The most prominent rate of growth was recorded in 2018 an increase of 8.6% against the previous year. Over the period under review, import prices reached the maximum 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 Singapore ($X per ton), while Lao People's Democratic Republic ($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 (+1.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform