Southern Asia: Plastic Household Articles Market 2024

Plastic Household Articles Market Size in Southern Asia

In 2022, the South Asian plastic household articles market decreased by -0.1% to $X, falling for the second year in a row after nine years of growth. The total consumption indicated buoyant growth 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, consumption decreased by -1.3% against 2020 indices. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Plastic Household Articles Production in Southern Asia

In value terms, plastic household articles production totaled $X in 2022 estimated in export price. The total production indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -0.5% against 2020 indices. The pace of growth was the most pronounced in 2013 with an increase of 12%. The level of production peaked at $X in 2020; afterwards, it flattened through to 2022.

Plastic Household Articles Exports

Exports in Southern Asia

In 2022, shipments abroad of household articles and toilet articles of plastics increased by 1% to X tons, rising for the third year in a row after three years of decline. Total exports indicated a tangible expansion from 2012 to 2022: its volume increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +80.3% against 2019 indices. The pace of growth was the most pronounced in 2021 when exports increased by 34%. The volume of export peaked in 2022 and is likely to see steady growth in the immediate term.

In value terms, plastic household articles exports skyrocketed to $X in 2022. In general, exports continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2021 with an increase of 52%. The level of export peaked in 2022 and is expected to retain growth in years to come.

Exports by Country

India represented the largest exporting country with an export of around X tons, which finished at 50% of total exports. Pakistan (X tons) held a 27% share (based on physical terms) of total exports, which put it in second place, followed by Bangladesh (15%) and Sri Lanka (8.3%).

From 2012 to 2022, the biggest increases were recorded for Sri Lanka (with a CAGR of +29.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, India ($X) remains the largest plastic household articles supplier in Southern Asia, comprising 56% of total exports. The second position in the ranking was held by Pakistan ($X), with a 22% share of total exports. It was followed by Bangladesh, with a 15% share.

In India, plastic household articles exports increased at an average annual rate of +7.9% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Pakistan (-1.7% per year) and Bangladesh (+23.4% per year).

Export Prices by Country

In 2022, the export price in Southern Asia amounted to $X per ton, with an increase of 17% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.4%. The pace of growth was the most pronounced in 2013 an increase of 18% against the previous year. The level of export peaked in 2022 and is likely to see gradual growth in the near future.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in India ($X per ton) and Bangladesh ($X per ton), while Pakistan ($X per ton) and Sri Lanka ($X per ton) were amongst the lowest.

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

Plastic Household Articles Imports

Imports in Southern Asia

Plastic household articles imports reduced markedly to X tons in 2022, waning by -20.1% against the previous year's figure. Total imports indicated modest growth from 2012 to 2022: its volume increased at an average annual rate of +1.7% 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 +18.6% against 2020 indices. The pace of growth was the most pronounced in 2018 with an increase of 65% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2022, the growth of imports remained at a lower figure.

In value terms, plastic household articles imports shrank to $X in 2022. Total imports indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +4.7% 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 +34.6% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 38% against the previous year. The level of import peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

India (X tons), Bangladesh (X tons), Afghanistan (X tons) and Sri Lanka (X tons) represented roughly 93% of total imports in 2022. Maldives (X tons), Nepal (X tons) and Pakistan (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Bangladesh (with a CAGR of +16.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest plastic household articles importing markets in Southern Asia were India ($X), Bangladesh ($X) and Sri Lanka ($X), with a combined 80% share of total imports.

Bangladesh, with a CAGR of +22.5%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2022, rising by 22% against the previous year. Over the last decade, it increased at an average annual rate of +3.0%. The most prominent rate of growth was recorded in 2013 when the import price increased by 32%. Over the period under review, import prices hit record highs in 2022 and is likely to continue growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Maldives (+7.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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