Asia: Lamp Plastic Parts Market 2024

Lamp Plastic Parts Market Size in Asia

In 2021, the Asian lamp plastic parts market was finally on the rise to reach $X for the first time since 2017, thus ending a three-year declining trend. In general, consumption, however, saw a drastic downturn. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Lamp Plastic Parts Production in Asia

In value terms, lamp plastic parts production expanded significantly to $X in 2021 estimated in export price. In general, production, however, showed a abrupt decrease. The level of production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Lamp Plastic Parts Exports

Exports in Asia

In 2021, the amount of plastic parts for lamps and lighting fittings exported in Asia skyrocketed to X tons, rising by 17% against the previous year's figure. Overall, exports, however, saw a noticeable shrinkage. The pace of growth was the most pronounced in 2017 when exports increased by 59% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, lamp plastic parts exports skyrocketed to $X in 2021. Over the period under review, exports, however, saw a mild downturn. The pace of growth appeared the most rapid in 2017 with an increase of 45%. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

In 2021, China (X tons) represented the largest exporter of plastic parts for lamps and lighting fittings in Asia, creating 96% of total export.

China was also the fastest-growing in terms of the plastic parts for lamps and lighting fittings exports, with a CAGR of -2.7% from 2012 to 2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, China ($X) also remains the largest lamp plastic parts supplier in Asia.

From 2012 to 2021, the average annual rate of growth in terms of value in China amounted to -1.8%.

Export Prices by Country

The export price in Asia stood at $X per ton in 2021, approximately reflecting the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of 24%. Over the period under review, the export prices reached the peak figure at $X per ton in 2020, and then reduced slightly in the following year.

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

From 2012 to 2021, the rate of growth in terms of prices for China amounted to +0.9% per year.

Lamp Plastic Parts Imports

Imports in Asia

Lamp plastic parts imports soared to X tons in 2021, growing by 37% against the previous year. Total imports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +5.5% 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 +59.5% against 2018 indices. The most prominent rate of growth was recorded in 2019 with an increase of 55% against the previous year. The volume of import peaked in 2021 and is expected to retain growth in the near future.

In value terms, lamp plastic parts imports expanded significantly to $X in 2021. Total imports indicated a temperate increase from 2012 to 2021: its value increased at an average annual rate of +3.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -37.3% against 2019 indices. The pace of growth appeared the most rapid in 2019 when imports increased by 77%. As a result, imports attained the peak of $X. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Turkey (X tons), distantly followed by Thailand (X tons), South Korea (X tons), Saudi Arabia (X tons), Indonesia (X tons), Hong Kong SAR (X tons), Bangladesh (X tons) and Iran (X tons) represented the main importers of plastic parts for lamps and lighting fittings, together generating 75% of total imports. Taiwan (Chinese) (X tons), the United Arab Emirates (X tons), Malaysia (X tons), Vietnam (X tons) and Kazakhstan (X tons) followed a long way behind the leaders.

Imports into Turkey increased at an average annual rate of +31.6% from 2012 to 2021. At the same time, Thailand (+33.6%), Bangladesh (+32.2%), Kazakhstan (+29.7%), South Korea (+19.1%), Vietnam (+11.1%), Saudi Arabia (+9.5%), Iran (+6.6%), Malaysia (+5.7%) and Taiwan (Chinese) (+5.1%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing importer imported in Asia, with a CAGR of +33.6% from 2012-2021. By contrast, Hong Kong SAR (-2.8%), the United Arab Emirates (-5.2%) and Indonesia (-8.9%) illustrated a downward trend over the same period. While the share of Turkey (+23 p.p.), Thailand (+10 p.p.), South Korea (+5.9 p.p.), Bangladesh (+4.3 p.p.), Saudi Arabia (+1.9 p.p.) and Kazakhstan (+1.6 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of the United Arab Emirates (-5 p.p.), Hong Kong SAR (-6.3 p.p.) and Indonesia (-17.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest lamp plastic parts importing markets in Asia were Turkey ($X), Hong Kong SAR ($X) and South Korea ($X), together comprising 27% of total imports. Taiwan (Chinese), Iran, Thailand, Saudi Arabia, Bangladesh, the United Arab Emirates, Vietnam, Malaysia, Indonesia and Kazakhstan lagged somewhat behind, together comprising a further 50%.

Bangladesh, with a CAGR of +45.1%, recorded the highest rates of growth with regard to the value of imports, among 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, dropping by -23.1% against the previous year. Over the period under review, the import price recorded a mild reduction. The most prominent rate of growth was recorded in 2013 an increase of 16%. Over the period under review, import prices hit record highs at $X per ton in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Vietnam ($X per ton), while Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bangladesh (+9.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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