Asia-Pacific: Plastic Box Market 2024

Plastic Box Market Size in Asia-Pacific

The Asia-Pacific plastic box market reached $X in 2022, therefore, remained relatively stable against the previous year. The market value increased at an average annual rate of +2.0% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Plastic Box Production in Asia-Pacific

In value terms, plastic box production dropped modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.2% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The growth pace was the most rapid in 2013 when the production volume increased by 14%. Over the period under review, production hit record highs at $X in 2017; afterwards, it flattened through to 2022.

Plastic Box Exports

Exports in Asia-Pacific

Plastic box exports reduced modestly to X tons in 2022, falling by -2.6% against the previous year's figure. The total export volume increased at an average annual rate of +1.4% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. The growth pace was the most rapid in 2021 when exports increased by 13% against the previous year. As a result, the exports reached the peak of X tons, and then fell modestly in the following year.

In value terms, plastic box exports dropped to $X in 2022. The total export value increased at an average annual rate of +2.5% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when exports increased by 26%. As a result, the exports reached the peak of $X, and then shrank modestly in the following year.

Exports by Country

China represented the key exporter of plastic boxes, cases, crates and similar packing articles in Asia-Pacific, with the volume of exports reaching X tons, which was near 44% of total exports in 2022. South Korea (X tons) ranks second in terms of the total exports with a 15% share, followed by Taiwan (Chinese) (12%), Malaysia (9.7%) and Thailand (7.8%). The following exporters - Hong Kong SAR (X tons) and India (X tons) - each finished at a 4.4% share of total exports.

China experienced a relatively flat trend pattern with regard to volume of exports of plastic boxes, cases, crates and similar packing articles. At the same time, Malaysia (+10.7%), Taiwan (Chinese) (+5.1%), South Korea (+4.8%) and Thailand (+3.9%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +10.7% from 2012-2022. India experienced a relatively flat trend pattern. By contrast, Hong Kong SAR (-12.7%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Malaysia, South Korea, Taiwan (Chinese) and Thailand increased by +5.7, +4.3, +3.7 and +1.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest plastic box supplier in Asia-Pacific, comprising 55% of total exports. The second position in the ranking was taken by South Korea ($X), with a 15% share of total exports. It was followed by Taiwan (Chinese), with a 9.2% share.

In China, plastic box exports expanded at an average annual rate of +4.3% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: South Korea (+1.7% per year) and Taiwan (Chinese) (+3.8% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2022, stabilizing at the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.1%. The most prominent rate of growth was recorded in 2021 when the export price increased by 12% against the previous year. Over the period under review, the export prices attained the maximum in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was China ($X per ton), while Malaysia ($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 (+4.3%), while the other leaders experienced more modest paces of growth.

Plastic Box Imports

Imports in Asia-Pacific

In 2022, approx. X tons of plastic boxes, cases, crates and similar packing articles were imported in Asia-Pacific; dropping by -4.3% compared with the previous year. The total import volume increased at an average annual rate of +2.1% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 17%. The volume of import peaked at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, plastic box imports fell to $X in 2022. The total import value increased at an average annual rate of +1.4% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 27% against the previous year. As a result, imports attained the peak of $X, and then fell in the following year.

Imports by Country

In 2022, South Korea (X tons), distantly followed by China (X tons), Thailand (X tons), the Philippines (X tons), Australia (X tons), Taiwan (Chinese) (X tons), Indonesia (X tons) and Vietnam (X tons) were the major importers of plastic boxes, cases, crates and similar packing articles, together generating 77% of total imports. Hong Kong SAR (X tons), Malaysia (X tons), Japan (X tons), Singapore (X tons) and India (X tons) held a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for the Philippines (with a CAGR of +15.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest plastic box importing markets in Asia-Pacific were South Korea ($X), China ($X) and Thailand ($X), with a combined 49% share of total imports. Australia, Japan, Taiwan (Chinese), Malaysia, Hong Kong SAR, Vietnam, the Philippines, Indonesia, Singapore and India lagged somewhat behind, together comprising a further 46%.

In terms of the main importing countries, the Philippines, with a CAGR of +15.6%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2022, increasing by 1.7% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 8.2%. The level of import peaked at $X per ton in 2012; however, from 2013 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 Japan ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+6.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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