Asia-Pacific: Plastic Container Market 2024

Plastic Container Market Size in Asia-Pacific

In 2021, the Asia-Pacific plastic container market decreased by -2.9% to $X for the first time since 2016, thus ending a four-year rising trend. The market value increased at an average annual rate of +4.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2020, and then dropped modestly in the following year.

Plastic Container Production in Asia-Pacific

In value terms, plastic container production fell slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +4.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2019 with an increase of 14% against the previous year. Over the period under review, production hit record highs at $X in 2020, and then declined slightly in the following year.

Plastic Container Exports

Exports in Asia-Pacific

Plastic container exports expanded notably to X tons in 2021, growing by 6.5% against the year before. Total exports indicated a strong increase from 2012 to 2021: its volume increased at an average annual rate of +6.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +68.9% against 2012 indices. The growth pace was the most rapid in 2017 with an increase of 18%. The volume of export peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, plastic container exports surged to $X in 2021. In general, exports posted a resilient increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China represented the major exporter of plastic containers in Asia-Pacific, with the volume of exports accounting for X tons, which was approx. 40% of total exports in 2021. Malaysia (X tons) ranks second in terms of the total exports with a 14% share, followed by South Korea (9.3%), India (7.6%), Thailand (5.7%), Taiwan (Chinese) (5.5%) and Hong Kong SAR (5%).

From 2012 to 2021, average annual rates of growth with regard to plastic container exports from China stood at +7.7%. At the same time, Taiwan (Chinese) (+12.6%), South Korea (+8.8%), Thailand (+7.8%), Hong Kong SAR (+6.0%), India (+5.1%) and Malaysia (+3.0%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +12.6% from 2012-2021. China (+5.2 p.p.), Taiwan (Chinese) (+2.3 p.p.) and South Korea (+1.9 p.p.) significantly strengthened its position in terms of the total exports, while Malaysia saw its share reduced by -4% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest plastic container supplier in Asia-Pacific, comprising 53% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 7.8% share of total exports. It was followed by South Korea, with a 7.2% share.

In China, plastic container exports expanded at an average annual rate of +14.0% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Malaysia (+3.7% per year) and South Korea (+9.3% per year).

Export Prices by Country

In 2021, the export price in Asia-Pacific amounted to $X per ton, picking up by 9.1% against the previous year. Over the last nine years, it increased at an average annual rate of +2.5%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was China ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+5.9%), while the other leaders experienced more modest paces of growth.

Plastic Container Imports

Imports in Asia-Pacific

In 2021, approx. X tons of plastic containers were imported in Asia-Pacific; surging by 8% against 2020. The total import volume increased at an average annual rate of +3.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2016 when imports increased by 13% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are likely to continue growth in the near future.

In value terms, plastic container imports soared to $X in 2021. Total imports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +5.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +60.4% against 2013 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The purchases of the twelve major importers of plastic containers, namely South Korea, Singapore, Indonesia, Thailand, Taiwan (Chinese), China, Hong Kong SAR, Malaysia, Vietnam, Australia, Japan and the Philippines, represented more than two-thirds of total import.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +12.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest plastic container importing markets in Asia-Pacific were China ($X), South Korea ($X) and Singapore ($X), with a combined 27% share of total imports. Thailand, Japan, Australia, Taiwan (Chinese), Hong Kong SAR, Indonesia, Malaysia, Vietnam and the Philippines lagged somewhat behind, together accounting for a further 60%.

The Philippines, with a CAGR of +12.9%, saw the highest growth rate of the value of imports, in terms of 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 2021, the import price in Asia-Pacific amounted to $X per ton, picking up by 7.4% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.1%. The pace of growth was the most pronounced in 2018 when the import price increased by 7.5%. The level of import peaked in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Japan ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+7.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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