South-Eastern Asia: Plastic Closure Market 2024

Plastic Closure Market Size in South-Eastern Asia

The Southeast Asian plastic closure market was estimated at $X in 2022, with an increase of 8.6% against the previous year. Overall, consumption enjoyed a prominent increase. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Plastic Closure Production in South-Eastern Asia

In value terms, plastic closure production rose rapidly to $X in 2022 estimated in export price. In general, production saw buoyant growth. The pace of growth appeared the most rapid in 2020 with an increase of 37%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Plastic Closure Exports

Exports in South-Eastern Asia

In 2022, after six years of growth, there was decline in shipments abroad of plastic stoppers, caps and closures, when their volume decreased by -3.6% to X tons. Total exports indicated a buoyant expansion from 2012 to 2022: its volume increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 with an increase of 16% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2021, and then reduced modestly in the following year.

In value terms, plastic closure exports amounted to $X in 2022. Total exports indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by +0.4% against 2019 indices. The most prominent rate of growth was recorded in 2019 when exports increased by 13% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the near future.

Exports by Country

In 2022, Thailand (X tons), distantly followed by Malaysia (X tons), Vietnam (X tons), Singapore (X tons) and Indonesia (X tons) were the main exporters of plastic stoppers, caps and closures, together comprising 97% of total exports. The Philippines (X tons) held a relatively small share of total exports.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +15.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), Malaysia ($X) and Vietnam ($X) appeared to be the countries with the highest levels of exports in 2022, together comprising 75% of total exports.

Vietnam, with a CAGR of +14.2%, saw the highest growth rate of 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, increasing by 4.1% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the export price increased by 9.7%. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while Malaysia ($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 (+3.3%), while the other leaders experienced more modest paces of growth.

Plastic Closure Imports

Imports in South-Eastern Asia

For the fifth year in a row, South-Eastern Asia recorded growth in supplies from abroad of plastic stoppers, caps and closures, which increased by 11% to X tons in 2022. Total imports indicated a prominent increase from 2012 to 2022: its volume increased at an average annual rate of +7.3% 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 +85.6% against 2015 indices. The most prominent rate of growth was recorded in 2016 with an increase of 43% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are likely to continue growth in years to come.

In value terms, plastic closure imports expanded sharply to $X in 2022. Total imports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +5.7% 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 +68.7% against 2015 indices. The most prominent rate of growth was recorded in 2016 with an increase of 38%. The level of import peaked in 2022 and is likely to continue growth in the near future.

Imports by Country

The countries with the highest levels of plastic closure imports in 2022 were Indonesia (X tons), Thailand (X tons), Vietnam (X tons), Malaysia (X tons), the Philippines (X tons) and Singapore (X tons), together recording 94% of total import. Myanmar (X tons) took a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for Myanmar (with a CAGR of +42.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest plastic closure importing markets in South-Eastern Asia were Thailand ($X), Indonesia ($X) and Vietnam ($X), with a combined 62% share of total imports. Singapore, Malaysia, the Philippines and Myanmar lagged somewhat behind, together comprising a further 35%.

In terms of the main importing countries, Myanmar, with a CAGR of +22.6%, saw 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, therefore, remained relatively stable against the previous year. Over the period under review, the import price recorded a mild descent. The most prominent rate of growth was recorded in 2017 an increase of 4.7%. Over the period under review, import prices reached the maximum at $X per ton in 2013; however, from 2014 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 ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+2.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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