Asia: Market for Plastics in Primary Forms 2024

Market Size for Plastics in Primary Forms in Asia

The Asian plastics in primary forms market reduced to $X in 2023, remaining stable against the previous year. The market value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2022 to 2023, the growth of the market remained at a lower figure.

Production of Plastics in Primary Forms in Asia

In value terms, plastics in primary forms production rose sharply to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2022 to 2023, production growth failed to regain momentum.

Exports of Plastics in Primary Forms

Exports in Asia

In 2023, the amount of plastics in primary formses exported in Asia skyrocketed to X tons, surging by X% compared with the year before. The total export volume increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. Over the period under review, the exports attained the maximum at X tons in 2021; however, from 2022 to 2023, the exports failed to regain momentum.

In value terms, plastics in primary forms exports expanded notably to $X in 2023. The total export value increased at an average annual rate of X% from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2022 to 2023, the growth of the exports remained at a lower figure.

Exports by Country

In 2023, Saudi Arabia (X tons), South Korea (X tons) and China (X tons) was the main exporter of plastics in primary formses in Asia, generating X% of total export. Taiwan (Chinese) (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by the United Arab Emirates (X%), Thailand (X%), Singapore (X%) and Malaysia (X%).

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by China (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X), China ($X) and Saudi Arabia ($X) constituted the countries with the highest levels of exports in 2023, together accounting for X% of total exports.

In terms of the main exporting countries, China, with a CAGR of X%, saw 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

In 2023, the export price in Asia amounted to $X per ton, shrinking by X% against the previous year. Overall, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the export price increased by X% against the previous year. Over the period under review, the export prices reached the maximum at $X per ton in 2022, and then shrank in the following year.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Saudi Arabia (X%), while the other leaders experienced more modest paces of growth.

Imports of Plastics in Primary Forms

Imports in Asia

In 2023, after two years of decline, there was growth in purchases abroad of plastics in primary formses, when their volume increased by X% to X tons. The total import volume increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained consistent, with only minor fluctuations in certain years. The pace of growth was the most pronounced in 2017 with an increase of X%. Over the period under review, imports reached the maximum at X tons in 2020; however, from 2021 to 2023, imports failed to regain momentum.

In value terms, plastics in primary forms imports declined to $X in 2023. Overall, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2022 to 2023, the growth of imports failed to regain momentum.

Imports by Country

In 2023, China (X tons), distantly followed by India (X tons), Turkey (X tons), Vietnam (X tons) and Indonesia (X tons) were the key importers of plastics in primary formses, together mixing up X% of total imports. Japan (X tons), Malaysia (X tons), Thailand (X tons), Singapore (X tons), South Korea (X tons), Bangladesh (X tons), Pakistan (X tons) and Taiwan (Chinese) (X tons) followed a long way behind the leaders.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by India (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constitutes the largest market for imported plastics in primary formses in Asia, comprising X% of total imports. The second position in the ranking was held by India ($X), with a X% share of total imports. It was followed by Turkey, with an X% share.

In China, plastics in primary forms imports declined by an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: India (X% per year) and Turkey (X% per year).

Import Prices by Country

In 2023, the import price in Asia amounted to $X per ton, waning by X% against the previous year. Over the period under review, the import price continues to indicate a slight contraction. The growth pace was the most rapid in 2021 an increase of X% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2014; however, from 2015 to 2023, import prices failed to regain momentum.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform