Asia: Plastic Container Market 2024

Plastic Container Market Size in Asia

After four years of growth, the Asian plastic container market decreased by -2.7% to $X in 2021. The market value increased at an average annual rate of +4.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the peak level at $X in 2020, and then dropped in the following year.

Plastic Container Production in Asia

In value terms, plastic container production shrank to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +4.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2019 when the production volume increased by 14%. 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

In 2021, overseas shipments of plastic containers increased by 6.9% to X tons, rising for the fifth consecutive year after three years of decline. Total exports indicated a strong expansion from 2012 to 2021: its volume 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, exports increased by +61.4% against 2016 indices. The growth pace was the most rapid in 2017 with an increase of 19%. Over the period under review, the exports hit record highs in 2021 and are likely to see steady growth in years to come.

In value terms, plastic container exports soared to $X in 2021. Overall, exports showed 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 key exporting country with an export of about X tons, which finished at 36% of total exports. Malaysia (X tons) took the second position in the ranking, followed by South Korea (X tons), India (X tons), Turkey (X tons), Thailand (X tons) and Taiwan (Chinese) (X tons). All these countries together held approx. 43% share of total exports. Hong Kong SAR (X tons), Singapore (X tons), Indonesia (X tons), Japan (X tons), Saudi Arabia (X tons) and the United Arab Emirates (X tons) followed a long way behind the leaders.

Exports from China increased at an average annual rate of +7.7% from 2012 to 2021. At the same time, Indonesia (+15.2%), Turkey (+15.0%), Taiwan (Chinese) (+12.6%), Singapore (+10.8%), South Korea (+8.8%), Thailand (+7.8%), Hong Kong SAR (+6.0%), India (+5.1%), the United Arab Emirates (+3.5%), Malaysia (+3.0%) and Japan (+2.1%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing exporter exported in Asia, with a CAGR of +15.2% from 2012-2021. By contrast, Saudi Arabia (-13.5%) illustrated a downward trend over the same period. From 2012 to 2021, the share of China, Turkey, Taiwan (Chinese) and South Korea increased by +6.8, +3, +2.2 and +2.2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest plastic container supplier in Asia, comprising 50% of total exports. The second position in the ranking was held by Malaysia ($X), with a 7.4% share of total exports. It was followed by South Korea, with a 6.8% share.

In China, plastic container exports increased at an average annual rate of +14.0% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (+3.7% per year) and South Korea (+9.3% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2021, increasing by 8.1% against the previous year. Over the last nine years, it increased at an average annual rate of +2.9%. The pace of growth was the most pronounced in 2013 when the export price increased by 8.5%. Over the period under review, the export prices reached the peak figure in 2021 and is likely to see steady growth in years to come.

Prices varied noticeably country of origin: the country with the highest price was Japan ($X per ton), while Saudi Arabia ($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

Plastic container imports expanded significantly to X tons in 2021, growing by 7.1% against the year before. The total import volume 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 throughout the analyzed period. The pace of growth appeared the most rapid in 2017 when imports increased by 12% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in the immediate term.

In value terms, plastic container imports soared to $X in 2021. Total imports indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +5.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +60.4% against 2015 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, South Korea (X tons), Singapore (X tons), Indonesia (X tons), Thailand (X tons), Taiwan (Chinese) (X tons), China (X tons), Hong Kong SAR (X tons), Malaysia (X tons), Vietnam (X tons), Japan (X tons), the Philippines (X tons) and India (X tons) was the major importer of plastic containers in Asia, generating 78% of total import. The United Arab Emirates (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Vietnam (with a CAGR of +12.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest plastic container importing markets in Asia were China ($X), South Korea ($X) and Singapore ($X), together accounting for 27% of total imports. These countries were followed by Thailand, Japan, Taiwan (Chinese), Hong Kong SAR, Indonesia, India, Malaysia, Vietnam, the Philippines and the United Arab Emirates, which together accounted for a further 59%.

The Philippines, with a CAGR of +12.9%, recorded 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 2021, increasing by 7.8% against the previous year. Over the period under review, the import price showed 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 country of destination: the country with the highest price was Japan ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+6.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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