Eastern Asia: Plastic Ornamental Articles Market 2024

Plastic Ornamental Articles Market Size in Eastern Asia

The East Asian plastic ornamental articles market amounted to $X in 2022, growing by 15% against the previous year. Overall, consumption, however, continues to indicate a mild reduction. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Plastic Ornamental Articles Production in Eastern Asia

In value terms, plastic ornamental articles production shrank modestly to $X in 2022 estimated in export price. Overall, production showed a noticeable decline. The pace of growth appeared the most rapid in 2019 when the production volume increased by 6.3% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Plastic Ornamental Articles Exports

Exports in Eastern Asia

Plastic ornamental articles exports contracted modestly to X tons in 2022, waning by -4.7% compared with 2021 figures. In general, exports recorded a pronounced downturn. The pace of growth appeared the most rapid in 2017 when exports increased by 42% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, plastic ornamental articles exports expanded markedly to $X in 2022. Over the period under review, exports showed a mild slump. The growth pace was the most rapid in 2021 when exports increased by 51%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, China (X tons) was the major exporter of statuettes and other ornamental articles of plastic in Eastern Asia, committing 99% of total export.

China was also the fastest-growing in terms of the statuettes and other ornamental articles of plastic exports, with a CAGR of -4.5% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, China ($X) also remains the largest plastic ornamental articles supplier in Eastern Asia.

In China, plastic ornamental articles exports shrank by an average annual rate of -1.2% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, with an increase of 17% against the previous year. Export price indicated a tangible increase from 2012 to 2022: its price increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, plastic ornamental articles export price increased by +79.3% against 2017 indices. The growth pace was the most rapid in 2021 when the export price increased by 26% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the near future.

As there is only one major export destination, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to +3.4% per year.

Plastic Ornamental Articles Imports

Imports in Eastern Asia

Plastic ornamental articles imports surged to X tons in 2022, growing by 121% against 2021. In general, imports enjoyed a strong increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, plastic ornamental articles imports surged to $X in 2022. Over the period under review, imports enjoyed a strong increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Hong Kong SAR was the major importing country with an import of about X tons, which resulted at 77% of total imports. It was distantly followed by Japan (X tons), constituting a 13% share of total imports. The following importers - South Korea (X tons), Macao SAR (X tons), Taiwan (Chinese) (X tons) and China (X tons) - together made up 9.5% of total imports.

From 2012 to 2022, average annual rates of growth with regard to plastic ornamental articles imports into Hong Kong SAR stood at +11.5%. At the same time, Macao SAR (+17.3%), South Korea (+12.8%) and China (+1.0%) displayed positive paces of growth. Moreover, Macao SAR emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +17.3% from 2012-2022. By contrast, Japan (-2.1%) and Taiwan (Chinese) (-6.3%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Hong Kong SAR and Macao SAR increased by +25 and +1.5 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Hong Kong SAR ($X) constitutes the largest market for imported statuettes and other ornamental articles of plastic in Eastern Asia, comprising 69% of total imports. The second position in the ranking was held by Japan ($X), with a 22% share of total imports. It was followed by South Korea, with a 3.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Hong Kong SAR totaled +17.7%. The remaining importing countries recorded the following average annual rates of imports growth: Japan (-2.5% per year) and South Korea (+15.1% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, declining by -2.7% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2020 an increase of 9.8%. Over the period under review, import prices hit record highs at $X per ton in 2021, and then fell modestly in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Japan ($X per ton), while Macao SAR ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Macao SAR (+8.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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