Asia-Pacific: Plastic Ornamental Articles Market 2024

Plastic Ornamental Articles Market Size in Asia-Pacific

The Asia-Pacific plastic ornamental articles market was finally on the rise to reach $X in 2022, after two years of decline. Over the period under review, consumption, however, saw a mild setback. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Plastic Ornamental Articles Production in Asia-Pacific

In value terms, plastic ornamental articles production reduced slightly to $X in 2022 estimated in export price. Overall, production saw a pronounced contraction. The growth pace was the most rapid in 2019 when the production volume increased by 6.8% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Plastic Ornamental Articles Exports

Exports in Asia-Pacific

In 2022, approx. X tons of statuettes and other ornamental articles of plastic were exported in Asia-Pacific; reducing by -4.5% against 2021 figures. In general, exports continue to indicate a pronounced downturn. The growth pace was the most rapid in 2017 with an increase of 40%. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, plastic ornamental articles exports expanded notably to $X in 2022. Overall, exports showed a mild decrease. The pace of growth was the most pronounced in 2021 with an increase of 49%. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

The shipments of the one major exporters of statuettes and other ornamental articles of plastic, namely China, represented more than two-thirds of total export.

China was also the fastest-growing in terms of the statuettes and other ornamental articles of plastic exports, with a CAGR of -4.5% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, China ($X) also remains the largest plastic ornamental articles supplier in Asia-Pacific.

In China, plastic ornamental articles exports decreased by an average annual rate of -1.2% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per ton, with an increase of 17% against the previous year. Export price indicated a measured expansion from 2012 to 2022: its price increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, plastic ornamental articles export price increased by +77.8% against 2017 indices. The pace of growth appeared the most rapid in 2021 when the export price increased by 26% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the near future.

As there is only one major export destination, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to +3.4% per year.

Plastic Ornamental Articles Imports

Imports in Asia-Pacific

For the third consecutive year, Asia-Pacific recorded growth in supplies from abroad of statuettes and other ornamental articles of plastic, which increased by 26% to X tons in 2022. Total imports indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of +6.5% 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 +81.1% against 2016 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, plastic ornamental articles imports skyrocketed to $X in 2022. Over the period under review, imports posted buoyant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Hong Kong SAR represented the main importer of statuettes and other ornamental articles of plastic in Asia-Pacific, with the volume of imports reaching X tons, which was near 37% of total imports in 2022. India (X tons) ranks second in terms of the total imports with a 22% share, followed by Japan (6.2%) and Vietnam (6%). The following importers - Pakistan (X tons), Australia (X tons), Thailand (X tons), Indonesia (X tons), the Philippines (X tons) and Bangladesh (X tons) - together made up 19% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Pakistan (with a CAGR of +18.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Hong Kong SAR ($X) constitutes the largest market for imported statuettes and other ornamental articles of plastic in Asia-Pacific, comprising 52% of total imports. The second position in the ranking was taken by Japan ($X), with a 16% share of total imports. It was followed by Vietnam, with a 6.3% share.

From 2012 to 2022, the average annual growth rate of value in Hong Kong SAR amounted to +17.7%. The remaining importing countries recorded the following average annual rates of imports growth: Japan (-2.5% per year) and Vietnam (+12.3% per year).

Import Prices by Country

In 2022, the import price in Asia-Pacific amounted to $X per ton, rising by 35% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 Australia (+9.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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