Eastern Asia: Plastic Support Market 2024

Plastic Support Market Size in Eastern Asia

The East Asian plastic support market totaled $X in 2022, increasing by 1.9% against the previous year. Over the period under review, consumption, however, saw a slight slump. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Plastic Support Production in Eastern Asia

In value terms, plastic support production expanded to $X in 2022 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 14%. Over the period under review, production reached the maximum level at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Plastic Support Exports

Exports in Eastern Asia

In 2022, plastic support exports in Eastern Asia was estimated at X tons, almost unchanged from the previous year's figure. Total exports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of +5.7% 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 +74.7% against 2012 indices. The most prominent rate of growth was recorded in 2016 when exports increased by 20% against the previous year. The volume of export peaked in 2022 and is expected to retain growth in years to come.

In value terms, plastic support exports expanded slightly to $X in 2022. Over the period under review, exports showed a buoyant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 20%. The level of export peaked in 2022 and is likely to see steady growth in the immediate term.

Exports by Country

China dominates exports structure, resulting at X tons, which was near 81% of total exports in 2022. It was distantly followed by South Korea (X tons) and Taiwan (Chinese) (X tons), together creating a 16% share of total exports. The following exporters - Hong Kong SAR (X tons) and Japan (X tons) - each reached a 3.5% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to plastic support exports from China stood at +7.0%. At the same time, Taiwan (Chinese) (+8.1%), South Korea (+5.5%) and Japan (+1.7%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +8.1% from 2012-2022. By contrast, Hong Kong SAR (-11.9%) illustrated a downward trend over the same period. China (+8.8 p.p.) significantly strengthened its position in terms of the total exports, while Hong Kong SAR saw its share reduced by -9.3% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest plastic support supplier in Eastern Asia, comprising 82% of total exports. The second position in the ranking was taken by South Korea ($X), with an 8.2% share of total exports. It was followed by Taiwan (Chinese), with a 5.2% share.

In China, plastic support exports expanded at an average annual rate of +9.1% over the period from 2012-2022. In the other countries, the average annual rates were as follows: South Korea (+7.2% per year) and Taiwan (Chinese) (+6.8% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, rising by 3.4% against the previous year. Over the last decade, it increased at an average annual rate of +1.6%. The growth pace was the most rapid in 2017 when the export price increased by 19%. The level of export peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: 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 (+2.0%), while the other leaders experienced more modest paces of growth.

Plastic Support Imports

Imports in Eastern Asia

In 2022, plastic support imports in Eastern Asia dropped to X tons, falling by -11.5% against the previous year. The total import volume increased at an average annual rate of +1.8% 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 18%. As a result, imports attained the peak of X tons, and then fell in the following year.

In value terms, plastic support imports fell to $X in 2022. The total import value increased at an average annual rate of +2.5% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 17%. As a result, imports reached the peak of $X, and then reduced in the following year.

Imports by Country

The countries with the highest levels of plastic support imports in 2022 were Japan (X tons), South Korea (X tons) and China (X tons), together accounting for 81% of total import. Taiwan (Chinese) (X tons) ranks next in terms of the total imports with a 12% share, followed by Hong Kong SAR (6.3%).

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Taiwan (Chinese) (with a CAGR of +4.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest plastic support importing markets in Eastern Asia were Japan ($X), China ($X) and South Korea ($X), together comprising 88% of total imports.

South Korea, with a CAGR of +6.4%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, rising by 4.8% against the previous year. In general, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the import price increased by 6.3%. The level of import peaked in 2022 and is likely to see steady growth in years to come.

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 China ($X per ton), while Taiwan (Chinese) ($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 (+2.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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