Eastern Asia: Plastic Box Market 2024

Plastic Box Market Size in Eastern Asia

In 2022, after two years of decline, there was growth in the East Asian plastic box market, when its value increased by 1.1% to $X. The market 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 observed in certain years. Over the period under review, the market reached the peak level at $X in 2019; afterwards, it flattened through to 2022.

Plastic Box Production in Eastern Asia

In value terms, plastic box production amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.4% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 with an increase of 22% 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 Box Exports

Exports in Eastern Asia

In 2022, exports of plastic boxes, cases, crates and similar packing articles in Eastern Asia declined to X tons, dropping by -6.5% against the previous year's figure. Overall, exports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 12% against the previous year. As a result, the exports attained the peak of X tons, and then shrank in the following year.

In value terms, plastic box exports reduced slightly to $X in 2022. The total export value increased at an average annual rate of +2.4% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 26%. As a result, the exports attained the peak of $X, and then reduced slightly in the following year.

Exports by Country

In 2022, China (X tons) represented the largest exporter of plastic boxes, cases, crates and similar packing articles, generating 58% of total exports. South Korea (X tons) held the second position in the ranking, followed by Taiwan (Chinese) (X tons). All these countries together held approx. 37% share of total exports. The following exporters - Hong Kong SAR (X tons) and Japan (X tons) - together made up 5% of total exports.

China experienced a relatively flat trend pattern with regard to volume of exports of plastic boxes, cases, crates and similar packing articles. At the same time, Taiwan (Chinese) (+5.1%) and South Korea (+4.8%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +5.1% from 2012-2022. By contrast, Japan (-3.3%) and Hong Kong SAR (-12.7%) illustrated a downward trend over the same period. While the share of South Korea (+7 p.p.) and Taiwan (Chinese) (+6.1 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of China (-2.4 p.p.) and Hong Kong SAR (-9.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest plastic box supplier in Eastern Asia, comprising 65% of total exports. The second position in the ranking was held by South Korea ($X), with an 18% share of total exports. It was followed by Taiwan (Chinese), with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China amounted to +4.3%. The remaining exporting countries recorded the following average annual rates of exports growth: South Korea (+1.7% per year) and Taiwan (Chinese) (+3.8% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, rising by 5.3% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.0%. The most prominent rate of growth was recorded in 2021 an increase of 13% against the previous year. Over the period under review, the export prices reached the maximum in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per ton), while Taiwan (Chinese) ($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 (+4.3%), while the other leaders experienced more modest paces of growth.

Plastic Box Imports

Imports in Eastern Asia

In 2022, the amount of plastic boxes, cases, crates and similar packing articles imported in Eastern Asia stood at X tons, therefore, remained relatively stable against the previous year's figure. Overall, imports, however, recorded a slight reduction. The pace of growth appeared the most rapid in 2016 with an increase of 13% against the previous year. As a result, imports attained the peak of X tons. From 2017 to 2022, the growth of imports failed to regain momentum.

In value terms, plastic box imports reached $X in 2022. Over the period under review, imports, however, recorded a slight downturn. The pace of growth appeared the most rapid in 2021 when imports increased by 22% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

South Korea represented the main importer of plastic boxes, cases, crates and similar packing articles in Eastern Asia, with the volume of imports finishing at X tons, which was approx. 46% of total imports in 2022. China (X tons) ranks second in terms of the total imports with a 27% share, followed by Taiwan (Chinese) (10%), Hong Kong SAR (8.7%) and Japan (7.1%).

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Taiwan (Chinese) (with a CAGR of +10.6%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest plastic box importing markets in Eastern Asia were South Korea ($X), China ($X) and Japan ($X), together accounting for 81% of total imports. Taiwan (Chinese) and Hong Kong SAR lagged somewhat behind, together accounting for a further 18%.

Among the main importing countries, Taiwan (Chinese), with a CAGR of +4.0%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, stabilizing at the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the import price increased by 9.8%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+6.3%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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