Eastern Asia: Plastic Household Articles Market 2024

Plastic Household Articles Market Size in Eastern Asia

The East Asian plastic household articles market expanded modestly to $X in 2022, surging by 3.4% against the previous year. The market value increased at an average annual rate of +4.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the maximum level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Plastic Household Articles Production in Eastern Asia

In value terms, plastic household articles production rose to $X in 2022 estimated in export price. The total production indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +8.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -2.4% against 2020 indices. The pace of growth appeared the most rapid in 2014 when the production volume increased by 33% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Plastic Household Articles Exports

Exports in Eastern Asia

In 2022, after five years of growth, there was decline in overseas shipments of household articles and toilet articles of plastics, when their volume decreased by -0.7% to X tons. In general, exports, however, saw a buoyant expansion. The pace of growth was the most pronounced in 2017 with an increase of 33%. Over the period under review, the exports reached the peak figure at X tons in 2021, and then fell in the following year.

In value terms, plastic household articles exports rose rapidly to $X in 2022. Over the period under review, exports, however, posted prominent growth. The most prominent rate of growth was recorded in 2013 with an increase of 41%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

Exports by Country

China prevails in exports structure, reaching X tons, which was approx. 96% of total exports in 2022. Taiwan (Chinese) (X tons) followed a long way behind the leaders.

China was also the fastest-growing in terms of the household articles and toilet articles of plastics exports, with a CAGR of +10.2% from 2012 to 2022. At the same time, Taiwan (Chinese) (+1.4%) displayed positive paces of growth. While the share of China (+9.2 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Taiwan (Chinese) (-2.9 p.p.) displayed negative dynamics.

In value terms, China ($X) remains the largest plastic household articles supplier in Eastern Asia, comprising 96% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 2.3% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in China stood at +17.5%.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, growing by 6.1% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +5.1%. The most prominent rate of growth was recorded in 2013 an increase of 14%. Over the period under review, the export prices reached the maximum in 2022 and is likely to continue growth in the near future.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while Taiwan (Chinese) amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+6.6%).

Plastic Household Articles Imports

Imports in Eastern Asia

In 2022, imports of household articles and toilet articles of plastics in Eastern Asia reached X tons, growing by 8.7% compared with the year before. The total import volume increased at an average annual rate of +1.4% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, plastic household articles imports stood at $X in 2022. The total import value increased at an average annual rate of +2.0% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 8.2% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Japan (X tons) represented the main importer of household articles and toilet articles of plastics, generating 40% of total imports. Hong Kong SAR (X tons) ranks second in terms of the total imports with a 22% share, followed by China (17%), South Korea (14%) and Taiwan (Chinese) (5.2%).

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by South Korea (with a CAGR of +14.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constitutes the largest market for imported household articles and toilet articles of plastics in Eastern Asia, comprising 45% of total imports. The second position in the ranking was held by Hong Kong SAR ($X), with a 19% share of total imports. It was followed by South Korea, with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Japan was relatively modest. The remaining importing countries recorded the following average annual rates of imports growth: Hong Kong SAR (-1.3% per year) and South Korea (+10.2% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, which is down by -6.6% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the import price increased by 6.2% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2021, and then dropped in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per ton), while China ($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 (+2.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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