Malaysia: Plastic Closure Market 2024

Plastic Closure Market Size in Malaysia

The Malaysian plastic closure market declined slightly to $X in 2022, stabilizing at the previous year. Overall, the total consumption indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -5.6% against 2019 indices. Plastic closure consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Plastic Closure Production in Malaysia

In value terms, plastic closure production reduced slightly to $X in 2022 estimated in export price. Overall, the total production indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +6.7% 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 -7.0% against 2019 indices. The growth pace was the most rapid in 2018 when the production volume increased by 22% against the previous year. Plastic closure production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Plastic Closure Exports

Exports from Malaysia

In 2022, after seven years of growth, there was decline in shipments abroad of plastic stoppers, caps and closures, when their volume decreased by -3.3% to X tons. Overall, exports, however, recorded strong growth. The most prominent rate of growth was recorded in 2017 with an increase of 38%. Over the period under review, the exports reached the maximum at X tons in 2021, and then reduced slightly in the following year.

In value terms, plastic closure exports totaled $X in 2022. Over the period under review, exports, however, continue to indicate a prominent expansion. The pace of growth was the most pronounced in 2016 with an increase of 32%. Over the period under review, the exports reached the peak figure at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Australia (X tons), Singapore (X tons) and the United States (X tons) were the main destinations of plastic closure exports from Malaysia, together accounting for 57% of total exports. China, the Philippines, India, Togo, Brunei Darussalam, New Zealand, Hong Kong SAR and the Netherlands lagged somewhat behind, together comprising a further 25%.

From 2012 to 2022, the biggest increases were recorded for Togo (with a CAGR of +50.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for plastic closure exported from Malaysia were the United States ($X), Singapore ($X) and Australia ($X), together accounting for 58% of total exports. China, the Philippines, India, New Zealand, Hong Kong SAR, the Netherlands, Brunei Darussalam and Togo lagged somewhat behind, together comprising a further 21%.

Among the main countries of destination, Togo, with a CAGR of +45.6%, saw 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

The average plastic closure export price stood at $X per ton in 2022, surging by 3.5% against the previous year. Over the last decade, it increased at an average annual rate of +2.0%. The pace of growth appeared the most rapid in 2013 an increase of 37% against the previous year. The export price peaked at $X per ton in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Togo ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (+8.2%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Closure Imports

Imports into Malaysia

In 2022, approx. X tons of plastic stoppers, caps and closures were imported into Malaysia; surging by 12% on the previous year's figure. Over the period under review, imports saw a resilient increase. The pace of growth was the most pronounced in 2019 when imports increased by 71% against the previous year. Imports peaked in 2022 and are likely to continue growth in the near future.

In value terms, plastic closure imports expanded modestly to $X in 2022. Overall, total imports indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -2.8% against 2020 indices. The most prominent rate of growth was recorded in 2019 with an increase of 22%. Imports peaked at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Myanmar (X tons) was the main plastic closure supplier to Malaysia, with a approx. 100% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from Myanmar stood at +1,169.8%.

In value terms, Myanmar ($X) constituted the largest supplier of plastic stoppers, caps and closures to Malaysia.

From 2012 to 2022, the average annual growth rate of value from Myanmar totaled +1,372.8%.

Import Prices by Country

The average plastic closure import price stood at $X per ton in 2022, dropping by -7.9% against the previous year. In general, the import price continues to indicate a mild decline. The pace of growth was the most pronounced in 2017 an increase of 40%. As a result, import price reached the peak level of $X per ton. From 2018 to 2022, the average import prices remained at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for Myanmar.

From 2012 to 2022, the rate of growth in terms of prices for Myanmar amounted to +16.0% per year.

Source: IndexBox Platform

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