Asia: Plastic Bag Market 2024

Plastic Bag Market Size in Asia

In 2022, the Asian plastic bag market decreased by X% to $X, falling for the third year in a row after two years of growth. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Plastic Bag Production in Asia

In value terms, plastic bag production declined to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Plastic Bag Exports

Exports in Asia

Plastic bag exports reached X tons in 2022, therefore, remained relatively stable against 2021. The total export volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. The volume of export peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, plastic bag exports rose notably to $X in 2022. The total export value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Exports by Country

China represented the largest exporter of plastic sacks and bags in Asia, with the volume of exports finishing at X tons, which was near X% of total exports in 2022. Thailand (X tons) held the second position in the ranking, followed by India (X tons), Vietnam (X tons), Malaysia (X tons) and Turkey (X tons). All these countries together took near X% share of total exports. Indonesia (X tons) followed a long way behind the leaders.

Exports from China increased at an average annual rate of X% from 2012 to 2022. At the same time, Turkey (X%), Vietnam (X%), India (X%) and Thailand (X%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2022. By contrast, Indonesia (X%) and Malaysia (X%) illustrated a downward trend over the same period. While the share of Turkey (X p.p.), Vietnam (X p.p.) and India (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of China (X p.p.) and Malaysia (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest plastic bag supplier in Asia, comprising X% of total exports. The second position in the ranking was held by Vietnam ($X), with a X% share of total exports. It was followed by Thailand, with a X% share.

From 2012 to 2022, the average annual growth rate of value in China amounted to X%. In the other countries, the average annual rates were as follows: Vietnam (X% per year) and Thailand (X% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2022, growing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2014 an increase of X%. Over the period under review, the export prices reached the peak figure in 2022 and is likely to see steady growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

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

Plastic Bag Imports

Imports in Asia

In 2022, after three years of decline, there was growth in overseas purchases of plastic sacks and bags, when their volume increased by X% to X tons. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2016 when imports increased by X%. The volume of import peaked at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, plastic bag imports rose significantly to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Japan (X tons) was the key importer of plastic sacks and bags, mixing up X% of total imports. Hong Kong SAR (X tons) ranks second in terms of the total imports with a X% share, followed by Thailand (X%). The following importers - Iraq (X tons), Kazakhstan (X tons), Indonesia (X tons), the Philippines (X tons), Vietnam (X tons), Singapore (X tons), South Korea (X tons), Saudi Arabia (X tons), Malaysia (X tons) and the United Arab Emirates (X tons) - together made up X% of total imports.

Japan experienced a relatively flat trend pattern with regard to volume of imports of plastic sacks and bags. At the same time, Thailand (X%), Saudi Arabia (X%), the Philippines (X%), South Korea (X%), Malaysia (X%), Iraq (X%), Vietnam (X%), Indonesia (X%) and Kazakhstan (X%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing importer imported in Asia, with a CAGR of X% from 2012-2022. The United Arab Emirates experienced a relatively flat trend pattern. By contrast, Singapore (X%) and Hong Kong SAR (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Thailand and the Philippines increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) constitutes the largest market for imported plastic sacks and bags in Asia, comprising X% of total imports. The second position in the ranking was held by Thailand ($X), with a X% share of total imports. It was followed by Singapore, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Japan was relatively modest. The remaining importing countries recorded the following average annual rates of imports growth: Thailand (X% per year) and Singapore (X% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, surging by X% against the previous year. In general, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the import price increased by X%. The level of import peaked in 2022 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 ($X per ton), while Kazakhstan ($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 (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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