Asia: Plastic Household Articles Market 2024

Plastic Household Articles Market Size in Asia

The Asian plastic household articles market was finally on the rise to reach $X in 2022, after two years of decline. The total consumption indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -7.5% against 2019 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Plastic Household Articles Production in Asia

In value terms, plastic household articles production contracted slightly to $X in 2022 estimated in export price. The total production indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +7.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by +1.0% against 2020 indices. The pace of growth was the most pronounced in 2014 when the production volume increased by 29%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Plastic Household Articles Exports

Exports in Asia

In 2022, after five years of growth, there was decline in overseas shipments of household articles and toilet articles of plastics, when their volume decreased by -0.6% to X tons. Total exports indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of +8.5% 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 +75.4% against 2016 indices. The growth pace was the most rapid in 2017 with an increase of 26%. Over the period under review, the exports attained the peak figure at X tons in 2021, and then fell modestly in the following year.

In value terms, plastic household articles exports stood at $X in 2022. In general, exports, however, continue to indicate prominent growth. The growth pace was the most rapid in 2013 with an increase of 34% against the previous year. The level of export peaked in 2022 and is expected to retain growth in years to come.

Exports by Country

China dominates exports structure, resulting at X tons, which was approx. 78% of total exports in 2022. Turkey (X tons), the Philippines (X tons), Taiwan (Chinese) (X tons), Vietnam (X tons) and Thailand (X tons) held a minor share of total exports.

From 2012 to 2022, average annual rates of growth with regard to plastic household articles exports from China stood at +10.2%. At the same time, the Philippines (+17.3%), Turkey (+11.7%), Vietnam (+9.9%) and Taiwan (Chinese) (+1.4%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing exporter exported in Asia, with a CAGR of +17.3% from 2012-2022. Thailand experienced a relatively flat trend pattern. From 2012 to 2022, the share of China and the Philippines increased by +12 and +1.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest plastic household articles supplier in Asia, comprising 84% of total exports. The second position in the ranking was taken by Turkey ($X), with a 2.5% share of total exports. It was followed by Taiwan (Chinese), with a 2% share.

In China, plastic household articles exports expanded at an average annual rate of +17.5% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Turkey (+10.3% per year) and Taiwan (Chinese) (+0.4% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, picking up by 5.4% against the previous year. Over the last decade, it increased at an average annual rate of +4.7%. The pace of growth appeared the most rapid in 2013 when the export price increased by 13%. The level of export peaked in 2022 and is expected to retain 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 China ($X per ton), while Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+6.6%), while the other leaders experienced more modest paces of growth.

Plastic Household Articles Imports

Imports in Asia

For the third year in a row, Asia recorded growth in supplies from abroad of household articles and toilet articles of plastics, which increased by 4.9% to X tons in 2022. The total import volume increased at an average annual rate of +4.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when imports increased by 20% against the previous year. The volume of import peaked in 2022 and is likely to see steady growth in years to come.

In value terms, plastic household articles imports reached $X in 2022. The total import value increased at an average annual rate of +5.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when imports increased by 15%. The level of import peaked in 2022 and is likely to continue growth in years to come.

Imports by Country

Japan (X tons) and the Philippines (X tons) were the largest importers of household articles and toilet articles of plastics in 2022, resulting at approx. 13% and 12% of total imports, respectively. Hong Kong SAR (X tons) held the next position in the ranking, followed by Thailand (X tons), Indonesia (X tons), China (X tons), Saudi Arabia (X tons), South Korea (X tons) and the United Arab Emirates (X tons). All these countries together took near 40% share of total imports. Vietnam (X tons), Malaysia (X tons), Iraq (X tons) and Singapore (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Vietnam (with a CAGR of +17.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constitutes the largest market for imported household articles and toilet articles of plastics in Asia, comprising 18% of total imports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 7.8% share of total imports. It was followed by Vietnam, with a 6.6% share.

From 2012 to 2022, the average annual growth rate of value in Japan was relatively modest. In the other countries, the average annual rates were as follows: Hong Kong SAR (-1.3% per year) and Vietnam (+23.5% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, with a decrease of -4.4% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 an increase of 13% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+9.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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