Pakistan: Plastic Reservoir Market 2024

Plastic Reservoir Market Size in Pakistan

The Pakistani plastic reservoir market expanded remarkably to $X in 2022, growing by 8.7% against the previous year. Over the period under review, consumption posted a resilient expansion. Plastic reservoir consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Plastic Reservoir Production in Pakistan

In value terms, plastic reservoir production rose significantly to $X in 2022 estimated in export price. Over the period under review, production enjoyed prominent growth. The most prominent rate of growth was recorded in 2019 with an increase of 73%. Plastic reservoir production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Plastic Reservoir Exports

Exports from Pakistan

After four years of growth, overseas shipments of plastic reservoirs, tanks and vats decreased by -36.2% to X tons in 2022. In general, exports showed a sharp decrease. The pace of growth was the most pronounced in 2021 when exports increased by 265%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, plastic reservoir exports contracted rapidly to $X in 2022. Overall, exports showed a significant decrease. The pace of growth appeared the most rapid in 2021 with an increase of 225% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Saudi Arabia (X tons) was the main destination for plastic reservoir exports from Pakistan, accounting for a 72% share of total exports. Moreover, plastic reservoir exports to Saudi Arabia exceeded the volume sent to the second major destination, Bangladesh (X kg), sixfold. Afghanistan (X kg) ranked third in terms of total exports with a 7.9% share.

From 2012 to 2022, the average annual growth rate of volume to Saudi Arabia totaled +15.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bangladesh (-21.9% per year) and Afghanistan (-36.8% per year).

In value terms, the UK ($X), Afghanistan ($X) and Bangladesh ($X) constituted the largest markets for plastic reservoir exported from Pakistan worldwide, together comprising 77% of total exports. Saudi Arabia, Oman, Malaysia and the United Arab Emirates lagged somewhat behind, together accounting for a further 23%.

Saudi Arabia, with a CAGR of +7.9%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average plastic reservoir export price stood at $X per ton in 2022, picking up by 2.5% against the previous year. In general, export price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, plastic reservoir export price decreased by -8.6% against 2020 indices. The pace of growth appeared the most rapid in 2019 when the average export price increased by 59%. The export price peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Oman ($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 UK (+19.2%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Reservoir Imports

Imports into Pakistan

In 2022, purchases abroad of plastic reservoirs, tanks and vats increased by 32% to X tons, rising for the second year in a row after two years of decline. Over the period under review, imports, however, saw a abrupt shrinkage. The pace of growth appeared the most rapid in 2021 when imports increased by 3,893% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, plastic reservoir imports soared to $X in 2022. Overall, imports posted a mild expansion. The pace of growth appeared the most rapid in 2021 with an increase of 3,988%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest plastic reservoir supplier to Pakistan, accounting for a 62% share of total imports. Moreover, plastic reservoir imports from China exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), fivefold. Sweden (X tons) ranked third in terms of total imports with an 8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +10.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+22.8% per year) and Sweden (+37.2% per year).

In value terms, China ($X) constituted the largest supplier of plastic reservoirs, tanks and vats to Pakistan, comprising 73% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 5.6% share of total imports. It was followed by Sweden, with a 4.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +19.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+18.0% per year) and Sweden (+37.4% per year).

Import Prices by Country

In 2022, the average plastic reservoir import price amounted to $X per ton, jumping by 22% against the previous year. Over the period under review, import price indicated a resilient expansion from 2012 to 2022: its price increased at an average annual rate of +7.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, plastic reservoir import price increased by +92.7% against 2018 indices. The most prominent rate of growth was recorded in 2013 when the average import price increased by 31% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is likely to see steady growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Bahrain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+13.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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