Asia-Pacific: Plastic Reservoir Market 2024

Plastic Reservoir Market Size in Asia-Pacific

The Asia-Pacific plastic reservoir market reached $X in 2022, almost unchanged from the previous year. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Plastic Reservoir Production in Asia-Pacific

In value terms, plastic reservoir production reached $X in 2022 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when the production volume increased by 27%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Plastic Reservoir Exports

Exports in Asia-Pacific

In 2022, the amount of plastic reservoirs, tanks and vats exported in Asia-Pacific reduced to X tons, shrinking by -8.9% against the previous year's figure. The total export volume increased at an average annual rate of +2.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by 27%. As a result, the exports reached the peak of X tons, and then dropped in the following year.

In value terms, plastic reservoir exports amounted to $X in 2022. The total export value increased at an average annual rate of +2.3% over the period from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when exports increased by 27% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the near future.

Exports by Country

The biggest shipments were from China (X tons), Malaysia (X tons) and South Korea (X tons), together recording 84% of total export. Thailand (X tons), Australia (X tons), Japan (X tons) and India (X tons) took a minor share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Australia (with a CAGR of +9.8%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the largest plastic reservoir supplier in Asia-Pacific, comprising 46% of total exports. The second position in the ranking was held by Malaysia ($X), with a 19% share of total exports. It was followed by South Korea, with a 15% share.

From 2012 to 2022, the average annual growth rate of value in China totaled +4.8%. In the other countries, the average annual rates were as follows: Malaysia (-0.8% per year) and South Korea (+1.0% per year).

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per ton, increasing by 14% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

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 Japan ($X per ton), while Malaysia ($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 (+0.2%), while the other leaders experienced a decline in the export price figures.

Plastic Reservoir Imports

Imports in Asia-Pacific

In 2022, plastic reservoir imports in Asia-Pacific expanded remarkably to X tons, increasing by 9.7% compared with 2021. Total imports indicated resilient growth from 2012 to 2022: its volume increased at an average annual rate of +8.7% 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 +32.3% against 2020 indices. The growth pace was the most rapid in 2013 with an increase of 32% against the previous year. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, plastic reservoir imports expanded markedly to $X in 2022. Total imports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -3.8% against 2019 indices. The most prominent rate of growth was recorded in 2015 with an increase of 36% against the previous year. As a result, imports attained the peak of $X. From 2016 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Singapore represented the largest importing country with an import of about X tons, which amounted to 32% of total imports. The Philippines (X tons) ranks second in terms of the total imports with a 9.1% share, followed by Australia (7%), India (6.1%), Vietnam (5.5%), New Zealand (5.4%), Thailand (5.3%) and Hong Kong SAR (4.6%). The following importers - South Korea (X tons), Taiwan (Chinese) (X tons), Lao People's Democratic Republic (X tons), Malaysia (X tons) and Indonesia (X tons) - together made up 14% of total imports.

From 2012 to 2022, average annual rates of growth with regard to plastic reservoir imports into Singapore stood at +13.6%. At the same time, Indonesia (+21.7%), the Philippines (+18.6%), India (+17.8%), Lao People's Democratic Republic (+14.8%), New Zealand (+13.8%), Australia (+10.6%), Taiwan (Chinese) (+9.8%), South Korea (+8.6%), Thailand (+7.0%) and Vietnam (+5.6%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +21.7% from 2012-2022. Hong Kong SAR experienced a relatively flat trend pattern. By contrast, Malaysia (-2.0%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Singapore, the Philippines, India and New Zealand increased by +11, +5.3, +3.4 and +2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) constitutes the largest market for imported plastic reservoirs, tanks and vats in Asia-Pacific, comprising 28% of total imports. The second position in the ranking was held by Australia ($X), with an 8.8% share of total imports. It was followed by New Zealand, with a 6.8% share.

From 2012 to 2022, the average annual growth rate of value in Singapore amounted to +9.9%. In the other countries, the average annual rates were as follows: Australia (+10.1% per year) and New Zealand (+16.3% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2022, shrinking by -3% against the previous year. Overall, the import price showed a perceptible downturn. The pace of growth appeared the most rapid in 2014 when the import price increased by 33% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2015; however, from 2016 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 South Korea ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+4.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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