Malaysia: Plastic Ornamental Articles Market 2024

Plastic Ornamental Articles Market Size in Malaysia

After two years of growth, the Malaysian plastic ornamental articles market decreased by -3.4% to $X in 2022. Overall, consumption recorded a perceptible reduction. Plastic ornamental articles consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Plastic Ornamental Articles Production in Malaysia

In value terms, plastic ornamental articles production stood at $X in 2022 estimated in export price. Over the period under review, production, however, saw a deep setback. The most prominent rate of growth was recorded in 2018 with an increase of 35%. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Plastic Ornamental Articles Exports

Exports from Malaysia

In 2022, shipments abroad of statuettes and other ornamental articles of plastic increased by 209% to X tons for the first time since 2019, thus ending a two-year declining trend. In general, exports, however, continue to indicate a abrupt descent. The growth pace was the most rapid in 2018 with an increase of 437%. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, plastic ornamental articles exports skyrocketed to $X in 2022. Overall, exports, however, continue to indicate a abrupt setback. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X tons), Australia (X tons) and Singapore (X tons) were the main destinations of plastic ornamental articles exports from Malaysia, with a combined 46% share of total exports. The UK, Italy, Germany, Spain, India, Papua New Guinea, Japan, Mexico, Kuwait and Ireland lagged somewhat behind, together comprising a further 37%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Kuwait (with a CAGR of +34.8%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) emerged as the key foreign market for statuettes and other ornamental articles of plastic exports from Malaysia, comprising 28% of total exports. The second position in the ranking was held by Singapore ($X), with an 11% share of total exports. It was followed by Italy, with a 9.4% share.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to -17.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (-13.9% per year) and Italy (+37.1% per year).

Export Prices by Country

The average plastic ornamental articles export price stood at $X per ton in 2022, with an increase of 50% against the previous year. In general, the export price, however, showed a pronounced setback. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 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 Kuwait ($X per ton), while the average price for exports to Ireland ($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 Italy (+19.3%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Ornamental Articles Imports

Imports into Malaysia

In 2022, supplies from abroad of statuettes and other ornamental articles of plastic increased by 20% to X tons, rising for the second consecutive year after three years of decline. In general, imports, however, showed a abrupt downturn. The most prominent rate of growth was recorded in 2015 when imports increased by 94% against the previous year. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, plastic ornamental articles imports reduced to $X in 2022. Overall, imports, however, recorded a abrupt curtailment. The growth pace was the most rapid in 2015 when imports increased by 80% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of plastic ornamental articles to Malaysia, with a 82% share of total imports. Moreover, plastic ornamental articles imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), eightfold.

From 2012 to 2022, the average annual growth rate of volume from China totaled -5.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+16.7% per year) and Japan (-9.9% per year).

In value terms, China ($X) constituted the largest supplier of statuettes and other ornamental articles of plastic to Malaysia, comprising 73% of total imports. The second position in the ranking was held by Vietnam ($X), with a 4.8% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled -7.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+9.6% per year) and Japan (-21.2% per year).

Import Prices by Country

In 2022, the average plastic ornamental articles import price amounted to $X per ton, declining by -16.9% against the previous year. Overall, the import price recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2020 when the average import price increased by 44%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Vietnam ($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 (-2.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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