Asia: Plastic Bag Market 2024

Plastic Bag Market Size in Asia

In 2022, the Asian plastic bag market decreased by -0.4% to $X, falling for the third year in a row after four years of growth. The market value increased at an average annual rate of +2.9% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Plastic Bag Production in Asia

In value terms, plastic bag production contracted slightly to $X in 2022 estimated in export price. The total production indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +4.2% 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 +2.8% against 2020 indices. The growth pace was the most rapid in 2016 when the production volume increased by 18%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Plastic Bag Exports

Exports in Asia

In 2022, approx. X tons of plastic sacks and bags were exported in Asia; surging by 1.6% against 2021 figures. The total export volume increased at an average annual rate of +2.7% over the period 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 2017 with an increase of 21% against the previous year. The volume of export peaked in 2022 and is likely to continue growth in years to come.

In value terms, plastic bag exports amounted to $X in 2022. Total exports indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +49.7% against 2016 indices. The growth pace was the most rapid in 2021 with an increase of 18% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

In 2022, China (X tons) was the largest exporter of plastic sacks and bags, making up 41% of total exports. It was distantly followed by Vietnam (X tons), Thailand (X tons), India (X tons), Turkey (X tons) and Malaysia (X tons), together mixing up a 44% share of total exports. Indonesia (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to plastic bag exports from China stood at +1.4%. At the same time, Vietnam (+11.7%), Turkey (+10.6%), India (+5.8%) and Thailand (+2.0%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia, with a CAGR of +11.7% from 2012-2022. By contrast, Indonesia (-1.5%) and Malaysia (-4.4%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Vietnam, Turkey and India increased by +9.2, +3.1 and +2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest plastic bag supplier in Asia, comprising 51% of total exports. The second position in the ranking was held by Vietnam ($X), with an 11% share of total exports. It was followed by Thailand, with a 7% share.

From 2012 to 2022, the average annual growth rate of value in China totaled +6.2%. The remaining exporting countries recorded the following average annual rates of exports growth: Vietnam (+11.4% per year) and Thailand (+3.5% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, with an increase of 2.2% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.1%. The most prominent rate of growth was recorded in 2021 an increase of 13% against the previous year. The level of export peaked in 2022 and is likely to see steady growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while Indonesia ($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 (+4.8%), while the other leaders experienced more modest paces of growth.

Plastic Bag Imports

Imports in Asia

In 2022, overseas purchases of plastic sacks and bags increased by 4.1% to X tons, rising for the second year in a row after two years of decline. The total import volume increased at an average annual rate of +1.7% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when imports increased by 5.8%. Over the period under review, imports attained the peak figure at X tons in 2018; afterwards, it flattened through to 2022.

In value terms, plastic bag imports amounted to $X in 2022. The total import value increased at an average annual rate of +2.3% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 7.9% against the previous year. The level of import peaked in 2022 and is likely to see steady growth in years to come.

Imports by Country

Japan was the major importer of plastic sacks and bags in Asia, with the volume of imports recording X tons, which was approx. 45% of total imports in 2022. Hong Kong SAR (X tons) ranks second in terms of the total imports with a 6% share, followed by Thailand (5.6%). Kazakhstan (X tons), Vietnam (X tons), Singapore (X tons), the Philippines (X tons), Indonesia (X tons), Malaysia (X tons), South Korea (X tons), Saudi Arabia (X tons), the United Arab Emirates (X tons) and Israel (X tons) followed a long way behind the leaders.

Japan experienced a relatively flat trend pattern with regard to volume of imports of plastic sacks and bags. At the same time, Thailand (+13.9%), Vietnam (+11.7%), Saudi Arabia (+10.9%), the Philippines (+10.7%), Israel (+10.3%), South Korea (+9.6%), Malaysia (+8.1%), Indonesia (+4.4%), Kazakhstan (+4.2%), Singapore (+1.2%) and the United Arab Emirates (+1.0%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing importer imported in Asia, with a CAGR of +13.9% from 2012-2022. By contrast, Hong Kong SAR (-3.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Thailand, Vietnam and the Philippines increased by +3.8, +2.1 and +1.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) constitutes the largest market for imported plastic sacks and bags in Asia, comprising 36% of total imports. The second position in the ranking was taken by Thailand ($X), with a 6.1% share of total imports. It was followed by Singapore, with a 4.9% share.

In Japan, plastic bag imports remained relatively stable over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Thailand (+6.6% per year) and Singapore (+1.0% per year).

Import Prices by Country

In 2022, the import price in Asia amounted to $X per ton, approximately equating the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the import price increased by 7.8% against the previous year. The level of import peaked at $X per ton in 2014; afterwards, it flattened through to 2022.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was South Korea ($X per ton), while Kazakhstan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+2.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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