Bangladesh: Plastic Box Market 2024

Plastic Box Market Size in Bangladesh

The Bangladeshi plastic box market fell slightly to $X in 2022, stabilizing at the previous year. Over the period under review, consumption, however, continues to indicate a buoyant expansion. Plastic box consumption peaked at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Plastic Box Production in Bangladesh

In value terms, plastic box production shrank to $X in 2022 estimated in export price. Over the period under review, production, however, saw a prominent increase. The most prominent rate of growth was recorded in 2016 when the production volume increased by 88% against the previous year. Plastic box production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Plastic Box Exports

Exports from Bangladesh

Plastic box exports from Bangladesh dropped dramatically to X tons in 2022, waning by -21.2% on the year before. In general, exports saw a abrupt decrease. The pace of growth was the most pronounced in 2017 when exports increased by 358% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, plastic box exports shrank dramatically to $X in 2022. Over the period under review, exports recorded a perceptible shrinkage. The pace of growth was the most pronounced in 2017 when exports increased by 245% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

The UK (X tons) was the main destination for plastic box exports from Bangladesh, with a 35% share of total exports. Moreover, plastic box exports to the UK exceeded the volume sent to the second major destination, Nepal (X tons), twofold. The third position in this ranking was held by Canada (X tons), with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the UK stood at +41.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nepal (-11.4% per year) and Canada (+34.2% per year).

In value terms, the largest markets for plastic box exported from Bangladesh were the UK ($X), Canada ($X) and Pakistan ($X), with a combined 52% share of total exports. Nepal, Australia, the Philippines, France, Georgia, Spain, Japan, Mauritius, Poland and the Czech Republic lagged somewhat behind, together accounting for a further 39%.

In terms of the main countries of destination, the Philippines, with a CAGR of +97.6%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average plastic box export price stood at $X per ton in 2022, growing by 6.1% against the previous year. Overall, export price indicated notable growth from 2012 to 2022: its price increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, plastic box export price decreased by -24.3% against 2016 indices. The growth pace was the most rapid in 2016 when the average export price increased by 59% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2017 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Poland ($X per ton), while the average price for exports to Mauritius ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to France (+18.3%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Box Imports

Imports into Bangladesh

After two years of growth, purchases abroad of plastic boxes, cases, crates and similar packing articles decreased by -7.1% to X tons in 2022. Over the period under review, total imports indicated a measured expansion from 2012 to 2022: its volume increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +15.0% against 2019 indices. The most prominent rate of growth was recorded in 2014 when imports increased by 112%. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, plastic box imports dropped to $X in 2022. In general, imports, however, enjoyed a remarkable increase. The pace of growth was the most pronounced in 2014 when imports increased by 164%. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports failed to regain momentum.

Imports by Country

India (X tons), China (X tons) and Sri Lanka (X tons) were the main suppliers of plastic box imports to Bangladesh, together accounting for 74% of total imports. South Korea, Thailand, Hong Kong SAR, Egypt and Malaysia lagged somewhat behind, together comprising a further 21%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by South Korea (with a CAGR of +92.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), India ($X) and Sri Lanka ($X) were the largest plastic box suppliers to Bangladesh, together comprising 79% of total imports. South Korea, Hong Kong SAR, Thailand, Egypt and Malaysia lagged somewhat behind, together comprising a further 14%.

In terms of the main suppliers, South Korea, with a CAGR of +62.1%, saw the highest rates of growth with regard to 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 average plastic box import price amounted to $X per ton, declining by -1.7% against the previous year. Over the last decade, it increased at an average annual rate of +3.6%. The most prominent rate of growth was recorded in 2016 an increase of 48% against the previous year. As a result, import price attained the peak level of $X per ton. From 2017 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per ton), while the price for South Korea ($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 (+7.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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