ASEAN: Plastic Closure Market 2025

Plastic Closure Market Size in ASEAN

The ASEAN plastic closure market rose notably to $X in 2022, growing by 8.6% against the previous year. In general, consumption posted resilient growth. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Plastic Closure Production in ASEAN

In value terms, plastic closure production expanded significantly to $X in 2022 estimated in export price. Overall, production saw a buoyant expansion. The most prominent rate of growth was recorded in 2020 when the production volume increased by 37%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Plastic Closure Exports

Exports in ASEAN

After six years of growth, shipments abroad of plastic stoppers, caps and closures decreased by -3.6% to X tons in 2022. Total exports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2019 with an increase of 16% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2021, and then reduced in the following year.

In value terms, plastic closure exports amounted to $X in 2022. Total exports indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by +0.4% against 2019 indices. The pace of growth appeared the most rapid in 2019 when exports increased by 13%. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in years to come.

Exports by Country

In 2022, Thailand (X tons), distantly followed by Malaysia (X tons), Vietnam (X tons), Singapore (X tons) and Indonesia (X tons) represented the largest exporters of plastic stoppers, caps and closures, together creating 97% of total exports. The Philippines (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +15.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest plastic closure supplying countries in ASEAN were Thailand ($X), Malaysia ($X) and Vietnam ($X), together comprising 75% of total exports.

In terms of the main exporting countries, Vietnam, with a CAGR of +14.2%, recorded 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, increasing by 4.1% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 an increase of 9.7% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+3.3%), while the other leaders experienced more modest paces of growth.

Plastic Closure Imports

Imports in ASEAN

In 2022, plastic closure imports in ASEAN rose notably to X tons, surging by 11% on the previous year's figure. Total imports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of +7.3% 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 +85.5% against 2015 indices. The pace of growth appeared the most rapid in 2016 when imports increased by 43% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, plastic closure imports expanded remarkably to $X in 2022. Total imports indicated strong growth from 2012 to 2022: its value 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, imports increased by +68.7% against 2015 indices. The pace of growth was the most pronounced in 2016 when imports increased by 38%. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

In 2022, Indonesia (X tons), Thailand (X tons), Vietnam (X tons), Malaysia (X tons), the Philippines (X tons) and Singapore (X tons) was the key importer of plastic stoppers, caps and closures in ASEAN, committing 94% of total import. 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 +42.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), Indonesia ($X) and Vietnam ($X) were the countries with the highest levels of imports in 2022, together accounting for 62% of total imports. Singapore, Malaysia, the Philippines and Myanmar lagged somewhat behind, together accounting for a further 35%.

Myanmar, with a CAGR of +22.6%, recorded the highest growth rate of the value of imports, in terms of 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, standing approx. at the previous year. Overall, the import price continues to indicate a slight reduction. The pace of growth appeared the most rapid in 2017 an increase of 4.7%. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Singapore ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+2.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform