Asia: Machinery For Packing Market 2024

Machinery For Packing Market Size in Asia

In 2022, the Asian machinery for packing market decreased by -9.7% to $X, falling for the second consecutive year after seven years of growth. The market value increased at an average annual rate of +2.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Machinery For Packing Production in Asia

In value terms, machinery for packing production contracted to $X in 2022 estimated in export price. In general, production, however, saw a strong expansion. The most prominent rate of growth was recorded in 2019 when the production volume increased by 34% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Machinery For Packing Exports

Exports in Asia

In 2022, machinery for packing exports in Asia skyrocketed to X units, surging by 28% against the previous year's figure. In general, exports recorded a buoyant increase. The most prominent rate of growth was recorded in 2018 when exports increased by 31% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in the immediate term.

In value terms, machinery for packing exports reduced to $X in 2022. The total export value increased at an average annual rate of +3.6% 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 2021 with an increase of 16%. As a result, the exports reached the peak of $X, and then shrank slightly in the following year.

Exports by Country

China prevails in exports structure, recording X units, which was near 68% of total exports in 2022. Taiwan (Chinese) (X units) ranks second in terms of the total exports with a 9.5% share, followed by Turkey (6.9%). The following exporters - Japan (X units), South Korea (X units), Malaysia (X units) and India (X units) - together made up 10% of total exports.

China was also the fastest-growing in terms of the machinery for packing or wrapping exports, with a CAGR of +25.8% from 2012 to 2022. At the same time, Malaysia (+12.2%), Turkey (+9.5%), Taiwan (Chinese) (+5.3%), India (+3.7%) and Japan (+1.9%) displayed positive paces of growth. South Korea experienced a relatively flat trend pattern. China (+42 p.p.) significantly strengthened its position in terms of the total exports, while India, Turkey, South Korea, Japan and Taiwan (Chinese) saw its share reduced by -3.1%, -3.6%, -7.1%, -8.3% and -11.9% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Japan ($X) and Taiwan (Chinese) ($X) constituted the countries with the highest levels of exports in 2022, together accounting for 63% of total exports. Turkey, South Korea, Malaysia and India lagged somewhat behind, together comprising a further 25%.

In terms of the main exporting countries, Malaysia, with a CAGR of +14.1%, 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

The export price in Asia stood at $X per unit in 2022, dropping by -24.8% against the previous year. In general, the export price showed a deep setback. The pace of growth appeared the most rapid in 2020 an increase of 7.9% against the previous year. Over the period under review, the export prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+1.7%), while the other leaders experienced more modest paces of growth.

Machinery For Packing Imports

Imports in Asia

In 2022, machinery for packing imports in Asia dropped to X units, stabilizing at the previous year. The total import volume increased at an average annual rate of +1.1% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 12% against the previous year. As a result, imports attained the peak of X units, leveling off in the following year.

In value terms, machinery for packing imports reduced to $X in 2022. In general, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by 9% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

The countries with the highest levels of machinery for packing imports in 2022 were China (X units), Indonesia (X units), South Korea (X units), India (X units), Turkey (X units), Vietnam (X units), Thailand (X units), Singapore (X units), the United Arab Emirates (X units), Japan (X units), Taiwan (Chinese) (X units) and Iran (X units), together amounting to 76% of total import. Iraq (X units) 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 +8.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constitutes the largest market for imported machinery for packing or wrapping in Asia, comprising 24% of total imports. The second position in the ranking was taken by Indonesia ($X), with a 10% share of total imports. It was followed by South Korea, with an 8.2% share.

From 2012 to 2022, the average annual growth rate of value in China amounted to -2.4%. In the other countries, the average annual rates were as follows: Indonesia (+2.5% per year) and South Korea (+5.3% per year).

Import Prices by Country

In 2022, the import price in Asia amounted to $X per unit, with a decrease of -7.8% against the previous year. Overall, the import price showed a mild setback. The most prominent rate of growth was recorded in 2019 when the import price increased by 3.5%. The level of import peaked at $X per unit in 2014; however, from 2015 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 China ($X per unit), while Iraq ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+5.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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