ASEAN: Plastic Ornamental Articles Market 2024

Plastic Ornamental Articles Market Size in ASEAN

The ASEAN plastic ornamental articles market contracted to $X in 2022, shrinking by -5.1% against the previous year. Overall, consumption showed a noticeable slump. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Plastic Ornamental Articles Production in ASEAN

In value terms, plastic ornamental articles production reduced to $X in 2022 estimated in export price. Overall, production continues to indicate a pronounced decrease. The pace of growth appeared the most rapid in 2021 when the production volume increased by 25% against the previous year. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Plastic Ornamental Articles Exports

Exports in ASEAN

In 2022, approx. X tons of statuettes and other ornamental articles of plastic were exported in ASEAN; increasing by 13% compared with the year before. In general, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 39%. The volume of export peaked at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, plastic ornamental articles exports rose significantly to $X in 2022. Total exports indicated a strong expansion from 2012 to 2022: its value 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. Based on 2022 figures, exports decreased by -7.9% against 2020 indices. The most prominent rate of growth was recorded in 2019 when exports increased by 41% against the previous year. Over the period under review, the exports attained the maximum at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Vietnam was the major exporter of statuettes and other ornamental articles of plastic in ASEAN, with the volume of exports finishing at X tons, which was approx. 54% of total exports in 2022. The Philippines (X tons) held a 21% share (based on physical terms) of total exports, which put it in second place, followed by Indonesia (6.9%), Thailand (5%) and Malaysia (4.7%). The following exporters - Cambodia (X tons) and Singapore (X tons) - each reached a 6% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to plastic ornamental articles exports from Vietnam stood at +4.3%. At the same time, Cambodia (+81.2%) and Indonesia (+2.2%) displayed positive paces of growth. Moreover, Cambodia emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +81.2% from 2012-2022. By contrast, Thailand (-2.4%), Singapore (-2.9%), the Philippines (-2.9%) and Malaysia (-10.8%) illustrated a downward trend over the same period. Vietnam (+16 p.p.) and Cambodia (+3.4 p.p.) significantly strengthened its position in terms of the total exports, while Thailand, the Philippines and Malaysia saw its share reduced by -1.8%, -9.1% and -11% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) remains the largest plastic ornamental articles supplier in ASEAN, comprising 54% of total exports. The second position in the ranking was taken by the Philippines ($X), with a 27% share of total exports. It was followed by Indonesia, with a 4.8% share.

In Vietnam, plastic ornamental articles exports expanded at an average annual rate of +8.1% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: the Philippines (+10.7% per year) and Indonesia (+5.0% per year).

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2022, waning by -5.4% against the previous year. Export price indicated perceptible growth from 2012 to 2022: its price increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, plastic ornamental articles export price increased by +53.4% against 2016 indices. The growth pace was the most rapid in 2021 when the export price increased by 20%. As a result, the export price reached the peak level of $X per ton, and then contracted 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 the Philippines ($X per ton), while Malaysia ($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 (+14.1%), while the other leaders experienced more modest paces of growth.

Plastic Ornamental Articles Imports

Imports in ASEAN

In 2022, approx. X tons of statuettes and other ornamental articles of plastic were imported in ASEAN; with a decrease of -3.3% against the previous year. Over the period under review, imports, however, showed a noticeable increase. The growth pace was the most rapid in 2020 when imports increased by 142%. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, plastic ornamental articles imports soared to $X in 2022. Overall, imports, however, continue to indicate buoyant growth. The growth pace was the most rapid in 2020 with an increase of 107% against the previous year. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Vietnam was the key importer of statuettes and other ornamental articles of plastic in ASEAN, with the volume of imports finishing at X tons, which was near 34% of total imports in 2022. Thailand (X tons) took the second position in the ranking, followed by Indonesia (X tons), the Philippines (X tons), Malaysia (X tons) and Singapore (X tons). All these countries together took near 62% share of total imports. Cambodia (X tons) took a relatively small share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Vietnam (with a CAGR of +11.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X) constitutes the largest market for imported statuettes and other ornamental articles of plastic in ASEAN, comprising 56% of total imports. The second position in the ranking was held by Singapore ($X), with an 11% share of total imports. It was followed by Thailand, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Vietnam totaled +12.3%. In the other countries, the average annual rates were as follows: Singapore (-0.8% per year) and Thailand (+6.9% per year).

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2022, with an increase of 27% against the previous year. In general, the import price showed a modest expansion. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 ($X per ton), while the Philippines ($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 (+6.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform