South-Eastern Asia: Plastic Ornamental Articles Market 2024

Plastic Ornamental Articles Market Size in South-Eastern Asia

The Southeast Asian plastic ornamental articles market reduced to $X in 2022, with a decrease of -5.1% against the previous year. Overall, consumption showed a perceptible decline. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Plastic Ornamental Articles Production in South-Eastern Asia

In value terms, plastic ornamental articles production fell to $X in 2022 estimated in export price. In general, production saw a perceptible shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of 25% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Plastic Ornamental Articles Exports

Exports in South-Eastern Asia

In 2022, approx. X tons of statuettes and other ornamental articles of plastic were exported in South-Eastern Asia; increasing by 13% against the previous year. Over the period under review, exports showed a relatively flat trend pattern. The growth pace was the most rapid in 2019 with an increase of 39% against the previous year. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, plastic ornamental articles exports rose sharply to $X in 2022. Total exports indicated a prominent increase from 2012 to 2022: its value 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. Based on 2022 figures, exports decreased by -7.9% against 2020 indices. The most prominent rate of growth was recorded in 2019 when exports increased by 41% against the previous year. The level of export peaked at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Vietnam was the major exporter of statuettes and other ornamental articles of plastic in South-Eastern Asia, with the volume of exports reaching X tons, which was approx. 54% of total exports in 2022. It was distantly followed by the Philippines (X tons), Indonesia (X tons), Thailand (X tons) and Malaysia (X tons), together making up a 37% share of total exports. The following exporters - Cambodia (X tons) and Singapore (X tons) - each resulted at a 6% share of total exports.

Exports from Vietnam increased at an average annual rate of +4.3% from 2012 to 2022. At the same time, Cambodia (+81.2%) and Indonesia (+2.2%) displayed positive paces of growth. Moreover, Cambodia emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +81.2% from 2012-2022. By contrast, Thailand (-2.4%), Singapore (-2.9%), the Philippines (-2.9%) and Malaysia (-10.8%) illustrated a downward trend over the same period. Vietnam (+16 p.p.) and Cambodia (+3.4 p.p.) significantly strengthened its position in terms of the total exports, while Thailand, the Philippines and Malaysia saw its share reduced by -1.8%, -9.1% and -11% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) remains the largest plastic ornamental articles supplier in South-Eastern Asia, comprising 54% of total exports. The second position in the ranking was taken by the Philippines ($X), with a 27% share of total exports. It was followed by Indonesia, with a 4.8% share.

From 2012 to 2022, the average annual growth rate of value in Vietnam totaled +8.1%. The remaining exporting countries recorded the following average annual rates of exports growth: the Philippines (+10.7% per year) and Indonesia (+5.0% per year).

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per ton, reducing by -5.4% against the previous year. Export price indicated a perceptible increase from 2012 to 2022: its price increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, plastic ornamental articles export price increased by +53.4% against 2016 indices. The growth pace was the most rapid in 2021 an increase of 20%. As a result, the export price reached the peak level of $X per ton, and then fell in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the Philippines ($X per ton), while Malaysia ($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 (+14.1%), while the other leaders experienced more modest paces of growth.

Plastic Ornamental Articles Imports

Imports in South-Eastern Asia

In 2022, approx. X tons of statuettes and other ornamental articles of plastic were imported in South-Eastern Asia; with a decrease of -3.3% on the previous year's figure. In general, imports, however, recorded buoyant growth. The growth pace was the most rapid in 2020 with an increase of 142% against the previous year. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, plastic ornamental articles imports skyrocketed to $X in 2022. Overall, imports, however, recorded resilient growth. The pace of growth was the most pronounced in 2020 with an increase of 106% against the previous year. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Vietnam was the major importing country with an import of around X tons, which resulted at 34% of total imports. Thailand (X tons) held the second position in the ranking, followed by Indonesia (X tons), the Philippines (X tons), Malaysia (X tons) and Singapore (X tons). All these countries together took near 62% share of total imports. Cambodia (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Vietnam (with a CAGR of +11.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X) constitutes the largest market for imported statuettes and other ornamental articles of plastic in South-Eastern Asia, comprising 56% of total imports. The second position in the ranking was taken by Singapore ($X), with an 11% share of total imports. It was followed by Thailand, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Vietnam stood at +12.3%. In the other countries, the average annual rates were as follows: Singapore (-0.8% per year) and Thailand (+6.9% per year).

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2022, growing by 26% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.0%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 Singapore (+6.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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