Thailand: Plastic Bag Market 2024

Plastic Bag Market Size in Thailand

The Thai plastic bag market reduced slightly to $X in 2022, falling by -4.8% against the previous year. Overall, the total consumption indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +9.3% against 2020 indices. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Plastic Bag Production in Thailand

In value terms, plastic bag production fell to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.9% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2019 with an increase of 15%. As a result, production attained the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Plastic Bag Exports

Exports from Thailand

In 2022, exports of plastic sacks and bags from Thailand rose notably to X tons, increasing by 5.6% compared with the year before. The total export volume increased at an average annual rate of +2.0% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2020 when exports increased by 34%. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports failed to regain momentum.

In value terms, plastic bag exports expanded sharply to $X in 2022. The total export value increased at an average annual rate of +3.5% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons), Japan (X tons) and Australia (X tons) were the main destinations of plastic bag exports from Thailand, together comprising 70% of total exports. The UK, Cambodia, Lao People's Democratic Republic, Switzerland and New Zealand lagged somewhat behind, together comprising a further 15%.

From 2012 to 2022, the biggest increases were recorded for Lao People's Democratic Republic (with a CAGR of +20.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for plastic bag exported from Thailand were the United States ($X), Japan ($X) and Australia ($X), together accounting for 69% of total exports. The UK, Cambodia, Lao People's Democratic Republic, Switzerland and New Zealand lagged somewhat behind, together comprising a further 12%.

In terms of the main countries of destination, Lao People's Democratic Republic, with a CAGR of +17.6%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average plastic bag export price stood at $X per ton in 2022, increasing by 5.8% against the previous year. Over the last decade, it increased at an average annual rate of +1.4%. The most prominent rate of growth was recorded in 2019 when the average export price increased by 22%. As a result, the export price reached the peak level of $X per ton. From 2020 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Lao People's Democratic Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to New Zealand (+2.8%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Bag Imports

Imports into Thailand

In 2022, approx. X tons of plastic sacks and bags were imported into Thailand; rising by 23% on the previous year. Over the period under review, imports posted a prominent increase. The pace of growth was the most pronounced in 2020 with an increase of 29%. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

In value terms, plastic bag imports expanded slightly to $X in 2022. Overall, total imports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +6.6% 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 +91.3% against 2013 indices. The pace of growth appeared the most rapid in 2020 when imports increased by 19% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of plastic bag to Thailand, with a 75% share of total imports. Moreover, plastic bag imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), more than tenfold. Malaysia (X tons) ranked third in terms of total imports with a 6.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +24.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+45.7% per year) and Malaysia (-0.9% per year).

In value terms, China ($X) constituted the largest supplier of plastic sacks and bags to Thailand, comprising 50% of total imports. The second position in the ranking was held by Malaysia ($X), with a 10% share of total imports. It was followed by Japan, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +15.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+1.0% per year) and Japan (-0.9% per year).

Import Prices by Country

The average plastic bag import price stood at $X per ton in 2022, with a decrease of -17.7% against the previous year. Overall, the import price continues to indicate a deep downturn. The most prominent rate of growth was recorded in 2015 an increase of 4.1% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was South Korea ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+2.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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