Asia-Pacific: Plastic Bag Market 2024

Plastic Bag Market Size in Asia-Pacific

The Asia-Pacific plastic bag market stood at $X in 2022, approximately equating the previous year. The market value increased at an average annual rate of +2.7% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the maximum level at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Plastic Bag Production in Asia-Pacific

In value terms, plastic bag production amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.2% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2016 with an increase of 21%. The level of production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Plastic Bag Exports

Exports in Asia-Pacific

For the sixth consecutive year, Asia-Pacific recorded growth in overseas shipments of plastic sacks and bags, which increased by 1.9% to X tons in 2022. The total export volume increased at an average annual rate of +2.2% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 with an increase of 22%. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the immediate term.

In value terms, plastic bag exports totaled $X in 2022. The total export value increased at an average annual rate of +4.6% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 17%. The level of export peaked in 2022 and is likely to see steady growth in the near future.

Exports by Country

China was the major exporter of plastic sacks and bags in Asia-Pacific, with the volume of exports accounting for X tons, which was approx. 46% of total exports in 2022. Vietnam (X tons) took an 18% share (based on physical terms) of total exports, which put it in second place, followed by Thailand (9.1%), India (8.8%) and Malaysia (6.6%). Indonesia (X tons) and Taiwan (Chinese) (X tons) held a minor share of total exports.

From 2012 to 2022, average annual rates of growth with regard to plastic bag exports from China stood at +1.4%. At the same time, Vietnam (+11.7%), India (+5.8%), Taiwan (Chinese) (+3.1%) and Thailand (+2.0%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +11.7% from 2012-2022. By contrast, Indonesia (-1.5%) and Malaysia (-4.4%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Vietnam and India increased by +11 and +2.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest plastic bag supplier in Asia-Pacific, comprising 56% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 12% share of total exports. It was followed by Thailand, with a 7.7% share.

In China, plastic bag exports increased at an average annual rate of +6.2% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Vietnam (+11.4% per year) and Thailand (+3.5% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2022, rising by 2.1% against the previous year. Over the last decade, it increased at an average annual rate of +2.4%. The pace of growth appeared the most rapid in 2021 when the export price increased by 14% against the previous year. The level of export peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was China ($X per ton), while Indonesia ($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 (+4.8%), while the other leaders experienced more modest paces of growth.

Plastic Bag Imports

Imports in Asia-Pacific

In 2022, purchases abroad of plastic sacks and bags increased by 3.5% to X tons, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of +1.5% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2016 when imports increased by 5.3% against the previous year. The volume of import peaked at X tons in 2018; afterwards, it flattened through to 2022.

In value terms, plastic bag imports rose remarkably to $X in 2022. The total import value increased at an average annual rate of +2.4% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 8.2%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the near future.

Imports by Country

Japan was the major importing country with an import of around X tons, which accounted for 44% of total imports. It was distantly followed by Australia (X tons), Hong Kong SAR (X tons) and Thailand (X tons), together comprising a 29% share of total imports. Vietnam (X tons), Singapore (X tons), the Philippines (X tons), Indonesia (X tons), Malaysia (X tons), New Zealand (X tons) and South Korea (X tons) followed a long way behind the leaders.

Japan experienced a relatively flat trend pattern with regard to volume of imports of plastic sacks and bags. At the same time, Thailand (+13.9%), Vietnam (+11.7%), the Philippines (+10.7%), South Korea (+9.6%), Malaysia (+8.1%), Indonesia (+4.4%), Australia (+2.7%) and Singapore (+1.2%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +13.9% from 2012-2022. New Zealand experienced a relatively flat trend pattern. By contrast, Hong Kong SAR (-3.5%) illustrated a downward trend over the same period. While the share of Thailand (+3.7 p.p.), Vietnam (+2.1 p.p.), Australia (+1.8 p.p.) and the Philippines (+1.7 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Hong Kong SAR (-3.9 p.p.) and Japan (-7.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) constitutes the largest market for imported plastic sacks and bags in Asia-Pacific, comprising 35% of total imports. The second position in the ranking was taken by Australia ($X), with a 17% share of total imports. It was followed by Thailand, with a 5.9% share.

From 2012 to 2022, the average annual growth rate of value in Japan was relatively modest. In the other countries, the average annual rates were as follows: Australia (+4.5% per year) and Thailand (+6.6% per year).

Import Prices by Country

In 2022, the import price in Asia-Pacific amounted to $X per ton, increasing by 3.5% against the previous year. In general, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the import price increased by 7.9% against the previous year. Over the period under review, import prices attained the maximum in 2022 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was South Korea ($X per ton), while Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (+3.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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