Asia: Plastic Box Market 2024

Plastic Box Market Size in Asia

The Asian plastic box market shrank slightly to $X in 2022, therefore, remained relatively stable against the previous year. The market 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 throughout the analyzed period. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Plastic Box Production in Asia

In value terms, plastic box production shrank slightly to $X in 2022 estimated in export price. The total production indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +3.4% against 2020 indices. The most prominent rate of growth was recorded in 2019 when the production volume increased by 14% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Plastic Box Exports

Exports in Asia

In 2022, the amount of plastic boxes, cases, crates and similar packing articles exported in Asia declined modestly to X tons, with a decrease of -1.6% compared with the year before. The total export volume increased at an average annual rate of +1.7% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The pace of growth appeared the most rapid in 2021 when exports increased by 12% against the previous year. As a result, the exports reached the peak of X tons, and then reduced in the following year.

In value terms, plastic box exports dropped slightly to $X in 2022. The total export value increased at an average annual rate of +2.7% over the period from 2012 to 2022; 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 25% against the previous year. As a result, the exports attained the peak of $X, leveling off in the following year.

Exports by Country

In 2022, China (X tons) represented the main exporter of plastic boxes, cases, crates and similar packing articles, constituting 36% of total exports. South Korea (X tons) held the second position in the ranking, followed by Taiwan (Chinese) (X tons), Turkey (X tons), Malaysia (X tons), Israel (X tons) and Thailand (X tons). All these countries together held near 52% 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%), Turkey (+8.3%), Taiwan (Chinese) (+5.1%), South Korea (+4.8%), Thailand (+3.9%) and Israel (+2.6%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing exporter exported in Asia, with a CAGR of +10.7% from 2012-2022. While the share of Malaysia (+4.6 p.p.), Turkey (+3.7 p.p.), South Korea (+3.2 p.p.) and Taiwan (Chinese) (+2.8 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of China (-6.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest plastic box supplier in Asia, comprising 48% of total exports. The second position in the ranking was taken by South Korea ($X), with a 13% share of total exports. It was followed by Taiwan (Chinese), with an 8.1% share.

In China, plastic box exports increased 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

In 2022, the export price in Asia amounted to $X per ton, approximately reflecting the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 11% against the previous year. Over the period under review, the export prices hit record highs in 2022 and is expected to retain growth in the near future.

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

Plastic box imports shrank slightly to X tons in 2022, with a decrease of -3.1% against 2021. The total import volume increased at an average annual rate of +2.4% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 16% against the previous year. 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 reduced modestly to $X in 2022. The total import value increased at an average annual rate of +1.6% 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 when imports increased by 25% against the previous year. As a result, imports reached the peak of $X, and then reduced 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), Turkey (X tons) and Taiwan (Chinese) (X tons) represented the largest importers of plastic boxes, cases, crates and similar packing articles, together making up 60% of total imports. Indonesia (X tons), Vietnam (X tons), Hong Kong SAR (X tons), Malaysia (X tons), Japan (X tons), Israel (X tons) and Singapore (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +17.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X), China ($X) and Thailand ($X) constituted the countries with the highest levels of imports in 2022, together comprising 45% of total imports. Japan, Taiwan (Chinese), Turkey, Malaysia, Hong Kong SAR, Vietnam, the Philippines, Indonesia, Singapore and Israel lagged somewhat behind, together comprising a further 42%.

The Philippines, with a CAGR of +15.6%, saw the highest rates of growth with regard to 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

The import price in Asia stood at $X per ton in 2022, leveling off at the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 7.6% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 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 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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