Asia-Pacific: Machinery For Packing Market 2024

Machinery For Packing Market Size in Asia-Pacific

In 2022, the Asia-Pacific machinery for packing market decreased by -8.9% to $X, falling for the second year in a row 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 in certain years. Over the period under review, the market reached the peak level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Machinery For Packing Production in Asia-Pacific

In value terms, machinery for packing production amounted to $X in 2022 estimated in export price. The total production indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +5.7% 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 -0.8% against 2020 indices. The most prominent rate of growth was recorded in 2019 with an increase of 19%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Machinery For Packing Exports

Exports in Asia-Pacific

In 2022, approx. X units of machinery for packing or wrapping were exported in Asia-Pacific; increasing by 32% on the previous year's figure. In general, exports continue to indicate a remarkable increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, machinery for packing exports dropped to $X in 2022. The total export value increased at an average annual rate of +3.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. 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 reduced modestly in the following year.

Exports by Country

China was the key exporting country with an export of about X units, which reached 74% of total exports. It was distantly followed by Taiwan (Chinese) (X units), generating a 10% share of total exports. The following exporters - Japan (X units), South Korea (X units), Malaysia (X units) and India (X units) - together made up 11% 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%), Taiwan (Chinese) (+5.3%), India (+3.7%) and Japan (+1.9%) displayed positive paces of growth. South Korea experienced a relatively flat trend pattern. While the share of China (+45 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of India (-3.4 p.p.), South Korea (-7.8 p.p.), Japan (-9.1 p.p.) and Taiwan (Chinese) (-13.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Japan ($X) and Taiwan (Chinese) ($X) were the countries with the highest levels of exports in 2022, together accounting for 68% of total exports. South Korea, Malaysia and India lagged somewhat behind, together comprising a further 18%.

In terms of the main exporting countries, Malaysia, with a CAGR of +14.1%, saw 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-Pacific stood at $X per unit in 2022, which is down by -26.2% against the previous year. In general, the export price showed a drastic downturn. The most prominent rate of growth was recorded in 2020 an increase of 8.2% against the previous year. Over the period under review, the export prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

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-Pacific

Machinery for packing imports shrank slightly to X units in 2022, leveling off at the previous year's figure. Over the period under review, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 11%. Over the period under review, imports reached the peak figure at X units in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, machinery for packing imports declined to $X in 2022. In general, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by 8.2%. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

The purchases of the twelve major importers of machinery for packing or wrapping, namely China, Indonesia, South Korea, India, Australia, Vietnam, Thailand, Singapore, Japan, Taiwan (Chinese), Malaysia and Bangladesh, represented more than two-thirds of total import.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +8.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constitutes the largest market for imported machinery for packing or wrapping in Asia-Pacific, comprising 29% of total imports. The second position in the ranking was held by Indonesia ($X), with a 12% share of total imports. It was followed by South Korea, with a 9.8% share.

In China, machinery for packing imports decreased by an average annual rate of -2.4% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Indonesia (+2.5% per year) and South Korea (+5.3% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per unit in 2022, which is down by -5.5% against the previous year. In general, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the import price increased by 5.3% against the previous year. The level of import peaked at $X per unit in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per unit), while India ($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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