Bangladesh: Plastic Support Market 2024

Plastic Support Market Size in Bangladesh

The Bangladeshi plastic support market shrank slightly to $X in 2022, which is down by -3.6% against the previous year. Overall, consumption showed a deep contraction. Plastic support consumption peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Plastic Support Production in Bangladesh

In value terms, plastic support production declined modestly to $X in 2022 estimated in export price. In general, production recorded a abrupt slump. The most prominent rate of growth was recorded in 2018 with an increase of 26% against the previous year. Plastic support production peaked at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Plastic Support Exports

Exports from Bangladesh

After two years of growth, shipments abroad of spools, cops and similar supports of plastics decreased by -5.9% to X tons in 2022. Over the period under review, exports, however, enjoyed a significant increase. The growth pace was the most rapid in 2015 when exports increased by 260%. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, plastic support exports dropped to $X in 2022. Overall, exports, however, recorded significant growth. The pace of growth was the most pronounced in 2015 with an increase of 304% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons), Nepal (X tons) and France (X tons) were the main destinations of plastic support exports from Bangladesh, together accounting for 51% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by France (with a CAGR of +105.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for plastic support exported from Bangladesh were the United States ($X), France ($X) and Saudi Arabia ($X), together comprising 60% of total exports. Nepal, Egypt, Kuwait, Belgium, Italy, the United Arab Emirates, China and India lagged somewhat behind, together comprising a further 30%.

Belgium, with a CAGR of +74.1%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average plastic support export price stood at $X per ton in 2022, which is down by -1.9% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the average export price increased by 18%. The export price peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Nepal ($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 Italy (+6.0%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Support Imports

Imports into Bangladesh

In 2022, approx. X tons of spools, cops and similar supports of plastics were imported into Bangladesh; shrinking by -11.2% compared with the year before. Over the period under review, total imports indicated a buoyant expansion from 2012 to 2022: its volume increased at an average annual rate of +5.1% 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 +14.4% against 2020 indices. The pace of growth appeared the most rapid in 2015 with an increase of 71% against the previous year. Over the period under review, imports reached the maximum at X tons in 2021, and then dropped in the following year.

In value terms, plastic support imports declined to $X in 2022. In general, total imports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +6.1% 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 +21.3% against 2020 indices. The pace of growth was the most pronounced in 2015 with an increase of 47% against the previous year. Imports peaked at $X in 2021, and then contracted in the following year.

Imports by Country

India (X tons), China (X tons) and Italy (X tons) were the main suppliers of plastic support imports to Bangladesh, together accounting for 86% of total imports. South Korea, Thailand, Malaysia, Germany, Taiwan (Chinese) and Sri Lanka lagged somewhat behind, together accounting for a further 11%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Malaysia (with a CAGR of +11.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest plastic support suppliers to Bangladesh were China ($X), India ($X) and Italy ($X), together accounting for 83% of total imports.

China, with a CAGR of +11.9%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers 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 support import price amounted to $X per ton, with a decrease of -4.2% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 12%. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the price for Sri Lanka ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+18.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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