Asia: Plastic Reservoir Market 2024

Plastic Reservoir Market Size in Asia

In 2022, after four years of growth, there was significant decline in the Asian plastic reservoir market, when its value decreased by -5.2% to $X. The market value increased at an average annual rate of +1.0% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2021, and then shrank in the following year.

Plastic Reservoir Production in Asia

In value terms, plastic reservoir production shrank slightly to $X in 2022 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the production volume increased by 27% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Plastic Reservoir Exports

Exports in Asia

In 2022, the amount of plastic reservoirs, tanks and vats exported in Asia fell to X tons, shrinking by -4.3% on the previous year's figure. The total export volume increased at an average annual rate of +2.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when exports increased by 31%. Over the period under review, the exports attained the maximum at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, plastic reservoir exports totaled $X in 2022. The total export value increased at an average annual rate of +2.2% from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of 33% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to continue growth in the near future.

Exports by Country

China (X tons), Malaysia (X tons), South Korea (X tons) and Bahrain (X tons) represented roughly 75% of total exports in 2022. It was distantly followed by Turkey (X tons), generating a 6.8% share of total exports. The following exporters - Saudi Arabia (X tons) and Thailand (X tons) - each finished at a 4.8% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Bahrain (with a CAGR of +77.4%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the largest plastic reservoir supplier in Asia, comprising 37% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 15% share of total exports. It was followed by South Korea, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China totaled +4.8%. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (-0.8% per year) and South Korea (+1.0% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, surging by 14% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. Over the period under review, the export prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was China ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bahrain (+7.3%), while the other leaders experienced more modest paces of growth.

Plastic Reservoir Imports

Imports in Asia

In 2022, approx. X tons of plastic reservoirs, tanks and vats were imported in Asia; remaining stable against the previous year. The total import volume increased at an average annual rate of +5.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 with an increase of 34%. Over the period under review, imports attained the peak figure at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, plastic reservoir imports dropped to $X in 2022. The total import value increased at an average annual rate of +3.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 with an increase of 27%. The level of import peaked at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Saudi Arabia (X tons), Singapore (X tons) and the United Arab Emirates (X tons) represented roughly 48% of total imports in 2022. It was distantly followed by Qatar (X tons), achieving a 5.6% share of total imports. The following importers - the Philippines (X tons), Oman (X tons), Kuwait (X tons), India (X tons), Vietnam (X tons), Thailand (X tons), Iraq (X tons), Hong Kong SAR (X tons) and Bahrain (X tons) - together made up 27% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by the Philippines (with a CAGR of +18.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest plastic reservoir importing markets in Asia were Singapore ($X), Saudi Arabia ($X) and the United Arab Emirates ($X), with a combined 41% share of total imports. Qatar, Thailand, Vietnam, the Philippines, Hong Kong SAR, Kuwait, India, Oman, Iraq and Bahrain lagged somewhat behind, together accounting for a further 32%.

Among the main importing countries, the Philippines, with a CAGR of +18.2%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Asia amounted to $X per ton, reducing by -1.6% against the previous year. Over the period under review, the import price saw a mild curtailment. The most prominent rate of growth was recorded in 2014 when the import price increased by 20% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+4.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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