China: Plastic Bag Market 2024

Plastic Bag Market Size in China

The Chinese plastic bag market reached $X in 2022, approximately reflecting the previous year. The market value increased at an average annual rate of +4.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Plastic bag consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Plastic Bag Production in China

In value terms, plastic bag production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of +4.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2016 when the production volume increased by 22% against the previous year. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Plastic Bag Exports

Exports from China

Plastic bag exports from China was estimated at X tons in 2022, with an increase of 4.3% compared with 2021. The total export volume increased at an average annual rate of +1.4% 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 2017 when exports increased by 49%. Over the period under review, the exports reached the maximum in 2022 and are likely to see steady growth in the immediate term.

In value terms, plastic bag exports expanded markedly to $X in 2022. In general, total exports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +6.2% 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 +65.8% against 2016 indices. The pace of growth appeared the most rapid in 2021 when exports increased by 21%. The exports peaked in 2022 and are likely to see steady growth in years to come.

Exports by Country

The United States (X tons), Japan (X tons) and Australia (X tons) were the main destinations of plastic bag exports from China, together accounting for 40% of total exports. The Netherlands, Canada, the UK, Germany, Thailand, the Philippines, Vietnam, Malaysia and Kazakhstan lagged somewhat behind, together accounting for a further 22%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Thailand (with a CAGR of +23.8%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for plastic sacks and bags exports from China, comprising 23% of total exports. The second position in the ranking was taken by Japan ($X), with a 9.5% share of total exports. It was followed by Australia, with a 5.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at +4.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-1.3% per year) and Australia (+6.7% per year).

Export Prices by Country

The average plastic bag export price stood at $X per ton in 2022, rising by 5.4% against the previous year. In general, export price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, plastic bag export price increased by +46.7% against 2017 indices. The most prominent rate of growth was recorded in 2016 an increase of 37% against the previous year. The export price peaked in 2022 and is expected to retain growth in the near future.

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 Malaysia ($X per ton), while the average price for exports to Kazakhstan ($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 Malaysia (+8.9%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Bag Imports

Imports into China

For the fourth consecutive year, China recorded decline in supplies from abroad of plastic sacks and bags, which decreased by -8.8% to X tons in 2022. Over the period under review, imports continue to indicate a noticeable slump. The most prominent rate of growth was recorded in 2016 with an increase of 17%. As a result, imports attained the peak of X tons. From 2017 to 2022, the growth of imports remained at a lower figure.

In value terms, plastic bag imports fell notably to $X in 2022. In general, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by 24%. As a result, imports attained the peak of $X, and then contracted markedly in the following year.

Imports by Country

Thailand (X tons), South Korea (X tons) and Japan (X tons) were the main suppliers of plastic bag imports to China, together comprising 54% of total imports. Malaysia, the United States, Germany, Vietnam, France, Switzerland and Singapore lagged somewhat behind, together accounting for a further 23%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Switzerland (with a CAGR of +25.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest plastic bag suppliers to China were Japan ($X), the United States ($X) and Switzerland ($X), with a combined 45% share of total imports.

Switzerland, with a CAGR of +49.5%, recorded 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 bag import price amounted to $X per ton, which is down by -7.5% against the previous year. Over the period under review, import price indicated a measured increase from 2012 to 2022: its price increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, plastic bag import price increased by +64.7% against 2016 indices. The pace of growth appeared the most rapid in 2021 when the average import price increased by 26%. As a result, import price reached the peak level of $X per ton, and then reduced in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Switzerland ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Switzerland (+19.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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