South-Eastern Asia: Plastic Bag Market 2024

Plastic Bag Market Size in South-Eastern Asia

The Southeast Asian plastic bag market totaled $X in 2022, approximately mirroring the previous year. The market value increased at an average annual rate of +2.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when the market value increased by 8.8%. The level of consumption peaked at $X in 2020; afterwards, it flattened through to 2022.

Plastic Bag Production in South-Eastern Asia

In value terms, plastic bag production totaled $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.5% over the period from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The growth pace was the most rapid in 2018 with an increase of 8.3%. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Plastic Bag Exports

Exports in South-Eastern Asia

In 2022, the amount of plastic sacks and bags exported in South-Eastern Asia expanded modestly to X tons, surging by 3% against 2021. The total export volume increased at an average annual rate of +2.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2019 when exports increased by 16% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, plastic bag exports amounted to $X in 2022. The total export value increased at an average annual rate of +3.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2019 when exports increased by 15% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

Exports by Country

In 2022, Vietnam (X tons) represented the largest exporter of plastic sacks and bags, creating 47% of total exports. It was distantly followed by Thailand (X tons), Malaysia (X tons) and Indonesia (X tons), together constituting a 48% share of total exports. The following exporters - the Philippines (X tons) and Singapore (X tons) - each recorded a 3.4% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Vietnam (with a CAGR of +11.7%), while the other leaders experienced mixed trends in the exports figures.

In value terms, the largest plastic bag supplying countries in South-Eastern Asia were Vietnam ($X), Thailand ($X) and Malaysia ($X), with a combined 86% share of total exports.

Vietnam, with a CAGR of +11.4%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per ton, with a decrease of -2% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 15% against the previous year. As a result, the export price reached the peak level of $X per ton, and then contracted in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+4.1%), while the other leaders experienced more modest paces of growth.

Plastic Bag Imports

Imports in South-Eastern Asia

In 2022, supplies from abroad of plastic sacks and bags increased by 6.6% to X tons, rising for the third consecutive year after two years of decline. Total imports indicated buoyant growth from 2012 to 2022: its volume increased at an average annual rate of +7.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +29.0% against 2019 indices. The most prominent rate of growth was recorded in 2017 with an increase of 21% against the previous year. The volume of import peaked in 2022 and is likely to see gradual growth in the immediate term.

In value terms, plastic bag imports amounted to $X in 2022. Total imports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +71.2% against 2012 indices. The growth pace was the most rapid in 2017 with an increase of 13% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Imports by Country

In 2022, Thailand (X tons), distantly followed by Vietnam (X tons), Singapore (X tons), the Philippines (X tons), Indonesia (X tons), Malaysia (X tons) and Cambodia (X tons) were the major importers of plastic sacks and bags, together comprising 91% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Thailand (with a CAGR of +13.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), Singapore ($X) and Vietnam ($X) constituted the countries with the highest levels of imports in 2022, with a combined 57% share of total imports. Indonesia, Malaysia, the Philippines and Cambodia lagged somewhat behind, together accounting for a further 38%.

In terms of the main importing countries, the Philippines, with a CAGR of +12.3%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in South-Eastern Asia amounted to $X per ton, reducing by -2.1% against the previous year. Overall, the import price recorded a pronounced shrinkage. The pace of growth was the most pronounced in 2018 when the import price increased by 8.6%. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+1.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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