Eastern Asia: Plastic Container Market 2024

Plastic Container Market Size in Eastern Asia

After four years of growth, the East Asian plastic container market decreased by -5.9% to $X in 2021. The total consumption indicated temperate growth from 2012 to 2021: its value increased at an average annual rate of +4.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +39.6% against 2016 indices. The level of consumption peaked at $X in 2020, and then fell in the following year.

Plastic Container Production in Eastern Asia

In value terms, plastic container production declined to $X in 2021 estimated in export price. The total production indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +5.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +47.5% against 2016 indices. The most prominent rate of growth was recorded in 2020 with an increase of 16%. As a result, production attained the peak level of $X, and then declined in the following year.

Plastic Container Exports

Exports in Eastern Asia

In 2021, the amount of plastic containers exported in Eastern Asia rose modestly to X tons, picking up by 3.1% on 2020. In general, exports enjoyed a strong expansion. The most prominent rate of growth was recorded in 2019 when exports increased by 17%. Over the period under review, the exports reached the maximum in 2021 and are likely to see steady growth in the immediate term.

In value terms, plastic container exports skyrocketed to $X in 2021. Over the period under review, exports continue to indicate a resilient increase. The pace of growth was the most pronounced in 2020 with an increase of 20%. Over the period under review, the exports reached the peak figure in 2021 and are likely to continue growth in years to come.

Exports by Country

China represented the key exporting country with an export of around X tons, which accounted for 64% of total exports. South Korea (X tons) held a 15% share (based on physical terms) of total exports, which put it in second place, followed by Taiwan (Chinese) (8.8%) and Hong Kong SAR (8%). Japan (X tons) held a minor share of total exports.

Exports from China increased at an average annual rate of +7.7% from 2012 to 2021. At the same time, Taiwan (Chinese) (+12.6%), South Korea (+8.8%), Hong Kong SAR (+6.0%) and Japan (+2.1%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +12.6% from 2012-2021. While the share of Taiwan (Chinese) (+2.9 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Japan (-2.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest plastic container supplier in Eastern Asia, comprising 72% of total exports. The second position in the ranking was taken by South Korea ($X), with a 9.7% share of total exports. It was followed by Japan, with a 6.5% share.

From 2012 to 2021, the average annual growth rate of value in China totaled +14.0%. In the other countries, the average annual rates were as follows: South Korea (+9.3% per year) and Japan (-0.0% per year).

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per ton, with an increase of 13% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.1%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Japan ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+5.9%), while the other leaders experienced more modest paces of growth.

Plastic Container Imports

Imports in Eastern Asia

Plastic container imports was estimated at X tons in 2021, growing by 15% compared with 2020 figures. The total import volume increased at an average annual rate of +2.2% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, plastic container imports surged to $X in 2021. The total import value increased at an average annual rate of +2.8% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, South Korea (X tons), distantly followed by Taiwan (Chinese) (X tons), China (X tons), Hong Kong SAR (X tons) and Japan (X tons) represented the main importers of plastic containers, together creating 100% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by South Korea (with a CAGR of +12.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), South Korea ($X) and Japan ($X) were the countries with the highest levels of imports in 2021, with a combined 65% share of total imports.

In terms of the main importing countries, South Korea, with a CAGR of +11.3%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Eastern Asia amounted to $X per ton, with an increase of 6% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Japan ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+5.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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