Asia: Plastic Bottle Market 2024

Plastic Bottle Market Size in Asia

For the eleventh year in a row, the Asian plastic bottle market recorded growth in sales value, which increased by 1.5% to $X in 2022. Overall, consumption, however, enjoyed a pronounced expansion. The pace of growth appeared the most rapid in 2021 when the market value increased by 5.4% against the previous year. The level of consumption peaked in 2022 and is likely to see steady growth in the immediate term.

Plastic Bottle Production in Asia

In value terms, plastic bottle production reduced to $X in 2022 estimated in export price. In general, production, however, saw a buoyant increase. The pace of growth was the most pronounced in 2021 when the production volume increased by 35% against the previous year. As a result, production attained the peak level of $X, and then dropped in the following year.

Plastic Bottle Exports

Exports in Asia

Plastic bottle exports expanded to X tons in 2022, surging by 3.2% against 2021 figures. In general, exports showed a relatively flat trend pattern. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, plastic bottle exports expanded markedly to $X in 2022. The total export value increased at an average annual rate of +3.6% over the period from 2020 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China dominates exports structure, finishing at X tons, which was approx. 77% of total exports in 2022. It was distantly followed by Kyrgyzstan (X tons), making up a 5.9% share of total exports. India (X tons), South Korea (X tons) and Kazakhstan (X tons) followed a long way behind the leaders.

From 2020 to 2022, average annual rates of growth with regard to plastic bottle exports from China stood at -5.7%. At the same time, South Korea (+4.6%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in Asia, with a CAGR of +4.6% from 2020-2022. Kyrgyzstan experienced a relatively flat trend pattern. By contrast, India (-4.9%) and Kazakhstan (-28.3%) illustrated a downward trend over the same period. While the share of Kyrgyzstan (+5.9 p.p.) and Kazakhstan (+2.3 p.p.) increased significantly in terms of the total exports from 2020-2022, the share of China (-9.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest plastic bottle supplier in Asia, comprising 84% of total exports. The second position in the ranking was taken by South Korea ($X), with a 6.2% share of total exports. It was followed by India, with a 1.9% share.

In China, plastic bottle exports increased at an average annual rate of +2.2% over the period from 2020-2022. The remaining exporting countries recorded the following average annual rates of exports growth: South Korea (-0.5% per year) and India (+9.3% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, with an increase of 9.6% against the previous year. Over the last two-year period, it increased at an average annual rate of +3.4%. As a result, the export 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 exporting countries. In 2022, amid the top suppliers, the country with the highest price was South Korea ($X per ton), while Kazakhstan ($X per ton) was amongst the lowest.

From 2020 to 2022, the most notable rate of growth in terms of prices was attained by Kazakhstan (+86.7%), while the other leaders experienced more modest paces of growth.

Plastic Bottle Imports

Imports in Asia

Plastic bottle imports skyrocketed to X tons in 2022, increasing by 32% against the previous year's figure. Total imports indicated a buoyant expansion from 2020 to 2022: its volume increased at an average annual rate of +19.3% over the last two years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +42.4% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, plastic bottle imports skyrocketed to $X in 2022. Total imports indicated resilient growth from 2020 to 2022: its value increased at an average annual rate of +18.0% over the last two-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +39.3% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Japan (X tons) and Kazakhstan (X tons) were the largest importers of carboys, bottles and similar articles of plastics in Asia, together amounting to near 44% of total imports. The Philippines (X tons) ranks next in terms of the total imports with a 9.1% share, followed by Thailand (7.2%), South Korea (4.8%) and Indonesia (4.6%). The following importers - Israel (X tons), Singapore (X tons), Hong Kong SAR (X tons), Malaysia (X tons), India (X tons), Cambodia (X tons) and Azerbaijan (X tons) - together made up 22% of total imports.

From 2020 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of +22.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constitutes the largest market for imported carboys, bottles and similar articles of plastics in Asia, comprising 31% of total imports. The second position in the ranking was held by South Korea ($X), with a 12% share of total imports. It was followed by Israel, with a 7.7% share.

In Japan, plastic bottle imports decreased by an average annual rate of -1.4% over the period from 2020-2022. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (0.0% per year) and Israel (+21.9% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, growing by 2.5% against the previous year. Overall, the import price, however, saw a mild setback. The level of import peaked at $X per ton in 2020; however, from 2021 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 South Korea ($X per ton), while Kazakhstan ($X per ton) was amongst the lowest.

From 2020 to 2022, the most notable rate of growth in terms of prices was attained by Azerbaijan (+17.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :