Asia: Plastic Support Market 2024

Plastic Support Market Size in Asia

The Asian plastic support market expanded slightly to $X in 2022, rising by 1.9% against the previous year. In general, consumption, however, continues to indicate a slight curtailment. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

Plastic Support Production in Asia

In value terms, plastic support production amounted to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of 9.8%. As a result, production attained the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Plastic Support Exports

Exports in Asia

In 2022, approx. X tons of spools, cops and similar supports of plastics were exported in Asia; flattening at 2021. Total exports indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of +5.5% 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 +71.3% against 2012 indices. The most prominent rate of growth was recorded in 2019 with an increase of 14% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the near future.

In value terms, plastic support exports rose modestly to $X in 2022. Total exports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +7.0% 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 +73.4% against 2016 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 18%. The level of export peaked in 2022 and is likely to continue growth in the immediate term.

Exports by Country

In 2022, China (X tons) was the major exporter of spools, cops and similar supports of plastics, achieving 50% of total exports. It was distantly followed by Turkey (X tons), Thailand (X tons), South Korea (X tons), Malaysia (X tons), Taiwan (Chinese) (X tons) and India (X tons), together achieving a 35% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to plastic support exports from China stood at +7.0%. At the same time, Taiwan (Chinese) (+8.1%), Malaysia (+7.3%), Thailand (+7.0%), Turkey (+6.8%), South Korea (+5.5%) and India (+4.5%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing exporter exported in Asia, with a CAGR of +8.1% from 2012-2022. From 2012 to 2022, the share of China increased by +6.3 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest plastic support supplier in Asia, comprising 61% of total exports. The second position in the ranking was held by Turkey ($X), with a 6.2% share of total exports. It was followed by South Korea, with a 6.1% share.

From 2012 to 2022, the average annual growth rate of value in China amounted to +9.1%. The remaining exporting countries recorded the following average annual rates of exports growth: Turkey (+8.3% per year) and South Korea (+7.2% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, with an increase of 4.1% against the previous year. Over the last decade, it increased at an average annual rate of +1.4%. The most prominent rate of growth was recorded in 2017 an increase of 12% against the previous year. Over the period under review, the export prices attained the peak figure in 2022 and is expected to retain growth in years to come.

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 India (+4.6%), while the other leaders experienced more modest paces of growth.

Plastic Support Imports

Imports in Asia

In 2022, plastic support imports in Asia totaled X tons, approximately mirroring 2021. The total import volume increased at an average annual rate of +4.3% 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 2016 when imports increased by 12% against the previous year. The volume of import peaked in 2022 and is likely to see steady growth in the near future.

In value terms, plastic support imports expanded to $X in 2022. The total import value increased at an average annual rate of +4.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of 12%. Over the period under review, imports reached the peak figure in 2022 and are likely to continue growth in the immediate term.

Imports by Country

Japan (X tons), Indonesia (X tons), South Korea (X tons), Thailand (X tons), Turkey (X tons), Saudi Arabia (X tons), Vietnam (X tons), China (X tons), Malaysia (X tons), the United Arab Emirates (X tons), the Philippines (X tons) and Taiwan (Chinese) (X tons) represented roughly 67% of total imports in 2022. Singapore (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +13.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), China ($X) and South Korea ($X) constituted the countries with the highest levels of imports in 2022, with a combined 31% share of total imports. Thailand, Turkey, Indonesia, Vietnam, the United Arab Emirates, Singapore, Malaysia, Saudi Arabia, the Philippines and Taiwan (Chinese) lagged somewhat behind, together comprising a further 45%.

Vietnam, with a CAGR of +13.2%, recorded the highest growth rate of 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 2022, remaining stable against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the import price increased by 3.1%. Over the period under review, import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, 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 Singapore (+2.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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