Asia-Pacific: Plastic Household Articles Market 2024

Plastic Household Articles Market Size in Asia-Pacific

The Asia-Pacific plastic household articles market totaled $X in 2022, with an increase of 2.9% against the previous year. The total consumption indicated a remarkable increase 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, consumption decreased by -5.0% against 2020 indices. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Plastic Household Articles Production in Asia-Pacific

In value terms, plastic household articles production rose modestly to $X in 2022 estimated in export price. The total production indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +7.4% 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 -2.2% against 2020 indices. The most prominent rate of growth was recorded in 2014 with an increase of 30% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Plastic Household Articles Exports

Exports in Asia-Pacific

In 2022, shipments abroad of household articles and toilet articles of plastics decreased by -0.1% to X tons for the first time since 2016, thus ending a five-year rising trend. Total exports indicated buoyant growth 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 +76.9% against 2016 indices. The pace of growth appeared the most rapid in 2017 with an increase of 28%. Over the period under review, the exports reached the maximum at X tons in 2021, and then fell slightly in the following year.

In value terms, plastic household articles exports amounted to $X in 2022. Over the period under review, exports, however, saw a resilient increase. The most prominent rate of growth was recorded in 2013 when exports increased by 34%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in years to come.

Exports by Country

China prevails in exports structure, amounting to X tons, which was near 84% of total exports in 2022. The Philippines (X tons), Taiwan (Chinese) (X tons), Vietnam (X tons), Thailand (X tons) and India (X tons) followed a long way behind the leaders.

Exports from China increased at an average annual rate of +10.2% from 2012 to 2022. At the same time, the Philippines (+17.3%), Vietnam (+9.9%), India (+3.6%) and Taiwan (Chinese) (+1.4%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +17.3% from 2012-2022. Thailand experienced a relatively flat trend pattern. China (+12 p.p.) and the Philippines (+1.7 p.p.) significantly strengthened its position in terms of the total exports, while Thailand and Taiwan (Chinese) saw its share reduced by -1.9% and -2.3% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest plastic household articles supplier in Asia-Pacific, comprising 87% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 2.1% share of total exports. It was followed by Vietnam, with a 1.8% 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: Taiwan (Chinese) (+0.4% per year) and Vietnam (+11.7% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2022, increasing by 5.2% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +5.0%. The most prominent rate of growth was recorded in 2013 an increase of 15% against the previous year. The level of export peaked in 2022 and is likely to see gradual 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 ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

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

Plastic Household Articles Imports

Imports in Asia-Pacific

For the third year in a row, Asia-Pacific recorded growth in purchases abroad of household articles and toilet articles of plastics, which increased by 7.9% to X tons in 2022. Total imports indicated a tangible increase from 2012 to 2022: its volume increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +31.5% against 2019 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 20%. The volume of import peaked in 2022 and is likely to continue growth in the near future.

In value terms, plastic household articles imports expanded to $X in 2022. Total imports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +70.8% against 2012 indices. The growth pace was the most rapid in 2021 when imports increased by 16% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Australia (X tons), Japan (X tons) and the Philippines (X tons) represented roughly 42% of total imports in 2022. It was followed by Hong Kong SAR (X tons), Thailand (X tons), Indonesia (X tons), China (X tons) and South Korea (X tons), together committing a 33% share of total imports. Vietnam (X tons), Malaysia (X tons), Singapore (X tons), India (X tons) and New Zealand (X tons) took a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +17.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Australia ($X), Japan ($X) and Hong Kong SAR ($X) constituted the countries with the highest levels of imports in 2022, with a combined 48% share of total imports. Vietnam, South Korea, China, the Philippines, Thailand, Indonesia, Singapore, Malaysia, India and New Zealand lagged somewhat behind, together accounting for a further 42%.

Vietnam, with a CAGR of +23.5%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Asia-Pacific amounted to $X per ton, dropping by -4.9% against the previous year. Over the last decade, it increased at an average annual rate of +1.1%. The most prominent rate of growth was recorded in 2018 an increase of 9.8%. The level of import peaked at $X per ton in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

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 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

Frequently Asked Questions (FAQ) :