Asia-Pacific: Plastic Bottle Market 2024

Plastic Bottle Exports

Exports in Asia-Pacific

In 2022, approx. X tons of carboys, bottles and similar articles of plastics were exported in Asia-Pacific; with a decrease of -2.8% against the year before. Over the period under review, exports saw a perceptible downturn. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, plastic bottle exports rose significantly to $X in 2022. The total export value increased at an average annual rate of +2.7% over the period from 2020 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China prevails in exports structure, reaching X tons, which was approx. 88% of total exports in 2022. The following exporters - India (X tons) and South Korea (X tons) - each accounted for an 8% share of total exports.

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-Pacific, with a CAGR of +4.6% from 2020-2022. By contrast, India (-4.9%) illustrated a downward trend over the same period. China (-3 p.p.) significantly weakened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest plastic bottle supplier in Asia-Pacific, comprising 87% of total exports. The second position in the ranking was held by South Korea ($X), with a 6.4% share of total exports.

From 2020 to 2022, the average annual growth rate of value in China stood at +2.2%. 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-Pacific amounted to $X per ton, growing by 14% against the previous year. Over the last two years, it increased at an average annual rate of +7.1%. As a result, the export price reached 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 ($X per ton), while India ($X per ton) was amongst the lowest.

From 2020 to 2022, the most notable rate of growth in terms of prices was attained by India (+14.9%), while the other leaders experienced mixed trends in the export price figures.

Plastic Bottle Imports

Imports in Asia-Pacific

For the third year in a row, Asia-Pacific recorded growth in purchases abroad of carboys, bottles and similar articles of plastics, which increased by 12% to X tons in 2022. The total import volume increased at an average annual rate of +7.6% over the period from 2020 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, plastic bottle imports skyrocketed to $X in 2022. The total import value increased at an average annual rate of +15.0% over the period from 2020 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Japan was the largest importer of carboys, bottles and similar articles of plastics in Asia-Pacific, with the volume of imports finishing at X tons, which was approx. 34% of total imports in 2022. The Philippines (X tons) ranks second in terms of the total imports with a 12% share, followed by Thailand (9.8%), South Korea (6.5%), Indonesia (6.2%) and Singapore (6%). Hong Kong SAR (X tons), Malaysia (X tons), India (X tons), New Zealand (X tons), Cambodia (X tons) and Lao People's Democratic Republic (X tons) followed a long way behind the leaders.

From 2020 to 2022, average annual rates of growth with regard to plastic bottle imports into Japan stood at -2.5%. At the same time, Indonesia (+22.4%), the Philippines (+16.0%), India (+13.2%), Malaysia (+7.9%), Singapore (+5.8%) and Thailand (+1.7%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +22.4% from 2020-2022. South Korea and New Zealand experienced a relatively flat trend pattern. By contrast, Hong Kong SAR (-10.9%), Lao People's Democratic Republic (-13.4%) and Cambodia (-13.4%) illustrated a downward trend over the same period. From 2020 to 2022, the share of South Korea, New Zealand and the Philippines increased by +6.5, +3.3 and +1.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) constitutes the largest market for imported carboys, bottles and similar articles of plastics in Asia-Pacific, comprising 36% of total imports. The second position in the ranking was held by South Korea ($X), with a 14% share of total imports. It was followed by Singapore, with a 6.6% share.

In Japan, plastic bottle imports plunged 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 Singapore (+5.3% per year).

Import Prices by Country

In 2022, the import price in Asia-Pacific amounted to $X per ton, picking up by 19% against the previous year. Over the last two-year period, it increased at an average annual rate of +6.8%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2020 to 2022, the most notable rate of growth in terms of prices was attained by India (+12.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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