Southern Asia: Plastic Box Market 2024

Plastic Box Market Size in Southern Asia

The South Asian plastic box market totaled $X in 2022, growing by 2.2% against the previous year. The market value increased at an average annual rate of +2.0% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market remained at a somewhat lower figure.

Plastic Box Production in Southern Asia

In value terms, plastic box production expanded slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.7% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2016 when the production volume increased by 23%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Plastic Box Exports

Exports in Southern Asia

In 2022, after two years of growth, there was decline in overseas shipments of plastic boxes, cases, crates and similar packing articles, when their volume decreased by -2.7% to X tons. Total exports indicated a modest expansion from 2012 to 2022: its volume increased at an average annual rate of +1.0% 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 +40.3% against 2019 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 29%. As a result, the exports attained the peak of X tons, and then shrank modestly in the following year.

In value terms, plastic box exports totaled $X in 2022. Total exports indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +3.4% 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 +45.2% against 2019 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 40% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the near future.

Exports by Country

India dominates exports structure, amounting to X tons, which was near 89% of total exports in 2022. It was distantly followed by Pakistan (X tons), creating a 7.7% share of total exports. The following exporters - Sri Lanka (X tons) and Bangladesh (X tons) - each recorded a 3.8% share of total exports.

India experienced a relatively flat trend pattern with regard to volume of exports of plastic boxes, cases, crates and similar packing articles. At the same time, Pakistan (+7.9%) and Sri Lanka (+4.7%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing exporter exported in Southern Asia, with a CAGR of +7.9% from 2012-2022. By contrast, Bangladesh (-8.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Pakistan increased by +3.7 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) remains the largest plastic box supplier in Southern Asia, comprising 90% of total exports. The second position in the ranking was held by Pakistan ($X), with a 5.4% share of total exports. It was followed by Sri Lanka, with a 2.8% share.

In India, plastic box exports increased at an average annual rate of +3.4% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Pakistan (+7.4% per year) and Sri Lanka (+4.3% per year).

Export Prices by Country

In 2022, the export price in Southern Asia amounted to $X per ton, with an increase of 4.2% against the previous year. Over the last decade, it increased at an average annual rate of +2.3%. The pace of growth appeared the most rapid in 2021 an increase of 8.9%. Over the period under review, the export prices attained the peak figure in 2022 and is likely to see gradual growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Sri Lanka ($X per ton), while Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bangladesh (+4.4%), while the other leaders experienced mixed trends in the export price figures.

Plastic Box Imports

Imports in Southern Asia

Plastic box imports reduced to X tons in 2022, declining by -5.2% compared with the previous year's figure. In general, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 39% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, plastic box imports reached $X in 2022. Total imports indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +3.4% 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 +42.3% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 37%. The level of import peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

India represented the key importing country with an import of around X tons, which resulted at 67% of total imports. Bangladesh (X tons) took a 10% share (based on physical terms) of total imports, which put it in second place, followed by Nepal (7.2%) and Sri Lanka (7%). Pakistan (X tons), Maldives (X tons) and Afghanistan (X tons) followed a long way behind the leaders.

India was also the fastest-growing in terms of the plastic boxes, cases, crates and similar packing articles imports, with a CAGR of +3.5% from 2012 to 2022. At the same time, Bangladesh (+2.3%) displayed positive paces of growth. By contrast, Nepal (-1.9%), Maldives (-2.3%), Sri Lanka (-2.3%), Afghanistan (-3.4%) and Pakistan (-15.1%) illustrated a downward trend over the same period. While the share of India (+17 p.p.) and Bangladesh (+1.7 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Nepal (-1.9 p.p.), Sri Lanka (-2.2 p.p.) and Pakistan (-14.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported plastic boxes, cases, crates and similar packing articles in Southern Asia, comprising 74% of total imports. The second position in the ranking was taken by Bangladesh ($X), with an 8.7% share of total imports. It was followed by Sri Lanka, with a 6.4% share.

In India, plastic box imports expanded at an average annual rate of +5.7% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Bangladesh (+5.9% per year) and Sri Lanka (-1.0% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2022, rising by 9.2% against the previous year. Over the last decade, it increased at an average annual rate of +2.9%. The most prominent rate of growth was recorded in 2013 an increase of 16%. Over the period under review, import prices hit record highs in 2022 and is expected to retain growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bangladesh (+3.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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