Eastern Asia: Machinery For Packing Market 2024

Machinery For Packing Market Size in Eastern Asia

In 2022, the East Asian machinery for packing market decreased by -12.9% to $X, falling for the second year in a row after seven years of growth. The market value increased at an average annual rate of +1.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the peak level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Machinery For Packing Production in Eastern Asia

In value terms, machinery for packing production totaled $X in 2022 estimated in export price. The total production indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +5.6% 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 -0.2% against 2020 indices. The most prominent rate of growth was recorded in 2016 with an increase of 21% against the previous year. Over the period under review, production reached the peak level at $X in 2020; afterwards, it flattened through to 2022.

Machinery For Packing Exports

Exports in Eastern Asia

In 2022, exports of machinery for packing or wrapping in Eastern Asia surged to X units, increasing by 35% on 2021. Overall, exports continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2018 with an increase of 42% against the previous year. The volume of export peaked in 2022 and is likely to see gradual growth in the immediate term.

In value terms, machinery for packing exports dropped slightly to $X in 2022. The total export value increased at an average annual rate of +2.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 11% against the previous year. As a result, the exports reached the peak of $X, and then shrank in the following year.

Exports by Country

In 2022, China (X units) was the major exporter of machinery for packing or wrapping, constituting 81% of total exports. Taiwan (Chinese) (X units) held an 11% share (based on physical terms) of total exports, which put it in second place, followed by Japan (4.7%). South Korea (X units) followed a long way behind the leaders.

China was also the fastest-growing in terms of the machinery for packing or wrapping exports, with a CAGR of +25.8% from 2012 to 2022. At the same time, Taiwan (Chinese) (+5.3%) and Japan (+1.9%) displayed positive paces of growth. South Korea experienced a relatively flat trend pattern. From 2012 to 2022, the share of China increased by +45 percentage points.

In value terms, China ($X), Japan ($X) and Taiwan (Chinese) ($X) were the countries with the highest levels of exports in 2022, with a combined 88% share of total exports.

In terms of the main exporting countries, China, with a CAGR of +6.0%, 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

In 2022, the export price in Eastern Asia amounted to $X per unit, dropping by -29.2% against the previous year. Overall, the export price continues to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2020 an increase of 6.8% against the previous year. The level of export peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($X per unit), while China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+1.3%), while the other leaders experienced a decline in the export price figures.

Machinery For Packing Imports

Imports in Eastern Asia

In 2022, purchases abroad of machinery for packing or wrapping increased by 3.4% to X units, rising for the second year in a row after two years of decline. Overall, imports, however, recorded a noticeable downturn. The most prominent rate of growth was recorded in 2018 when imports increased by 14%. Over the period under review, imports attained the peak figure at X units in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, machinery for packing imports declined to $X in 2022. In general, imports, however, continue to indicate a slight downturn. The most prominent rate of growth was recorded in 2018 when imports increased by 17%. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) was the largest importer of machinery for packing or wrapping, constituting 45% of total imports. South Korea (X units) held the second position in the ranking, distantly followed by Japan (X units) and Taiwan (Chinese) (X units). All these countries together took near 51% share of total imports. Hong Kong SAR (X units) took a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by South Korea (with a CAGR of +5.6%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, China ($X) constitutes the largest market for imported machinery for packing or wrapping in Eastern Asia, comprising 60% of total imports. The second position in the ranking was held by South Korea ($X), with a 20% share of total imports. It was followed by Japan, with a 9.5% share.

From 2012 to 2022, the average annual growth rate of value in China stood at -2.4%. In the other countries, the average annual rates were as follows: South Korea (+5.3% per year) and Japan (-3.7% per year).

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per unit, dropping by -13.8% against the previous year. Over the last decade, it increased at an average annual rate of +1.8%. The growth pace was the most rapid in 2016 an increase of 20% against the previous year. The level of import peaked at $X per unit in 2021, and then fell in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per unit), while Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+5.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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