China: Market for Plastics in Primary Forms 2024

Market Size for Plastics in Primary Forms in China

The Chinese plastics in primary forms market dropped to $X in 2023, leveling off at the previous year. In general, consumption, however, recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2022 to 2023, the growth of the market failed to regain momentum.

Production of Plastics in Primary Forms in China

In value terms, plastics in primary forms production rose remarkably to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2023; however, 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 from China

In 2023, shipments abroad of plastics in primary formses increased by X% to X tons, rising for the sixth year in a row after three years of decline. Over the period under review, exports showed a strong increase. The most prominent rate of growth was recorded in 2021 when exports increased by X%. Over the period under review, the exports reached the peak figure in 2023 and are likely to see steady growth in the immediate term.

In value terms, plastics in primary forms exports dropped to $X in 2023. In general, exports posted a prominent expansion. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2022, and then dropped in the following year.

Exports by Country

India (X tons), Vietnam (X tons) and Russia (X tons) were the main destinations of plastics in primary forms exports from China, together comprising X% of total exports. South Korea, Thailand, the United States, Indonesia, Brazil, Malaysia, Turkey, Bangladesh, the United Arab Emirates and Japan lagged somewhat behind, together accounting for a further X%.

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

In value terms, India ($X), Vietnam ($X) and Russia ($X) were the largest markets for plastics in primary forms exported from China worldwide, together comprising X% of total exports. South Korea, the United States, Thailand, Indonesia, Japan, Brazil, Malaysia, Turkey, the United Arab Emirates and Bangladesh lagged somewhat behind, together comprising a further X%.

Bangladesh, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average plastics in primary forms export price stood at $X per ton in 2023, falling by X% against the previous year. Overall, the export price showed a slight shrinkage. The growth pace was the most rapid in 2021 when the average export price increased by X%. Over the period under review, the average export prices attained the maximum at $X per ton in 2022, and then reduced sharply in the following year.

There were significant differences in the average prices for the major overseas markets. In 2023, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Japan (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Plastics in Primary Forms

Imports into China

In 2023, overseas purchases of plastics in primary formses decreased by X% to X tons, falling for the third consecutive year after four years of growth. In general, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. Imports peaked at X tons in 2020; however, from 2021 to 2023, imports remained at a lower figure.

In value terms, plastics in primary forms imports declined markedly to $X in 2023. Over the period under review, imports saw a pronounced curtailment. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2022 to 2023, the growth of imports remained at a lower figure.

Imports by Country

South Korea (X tons), Taiwan (Chinese) (X tons) and the United States (X tons) were the main suppliers of plastics in primary forms imports to China, with a combined X% share of total imports. Saudi Arabia, the United Arab Emirates, Japan, Malaysia, Thailand, Iran, Singapore, Qatar and Germany lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the biggest increases were recorded for Malaysia (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X), the United States ($X) and Taiwan (Chinese) ($X) were the largest plastics in primary forms suppliers to China, together comprising X% of total imports. Japan, Saudi Arabia, the United Arab Emirates, Thailand, Singapore, Malaysia, Germany, Iran and Qatar lagged somewhat behind, together accounting for a further X%.

The United Arab Emirates, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the average plastics in primary forms import price amounted to $X per ton, falling by X% against the previous year. Overall, the import price showed a mild decline. The pace of growth appeared the most rapid in 2021 an increase of X%. Over the period under review, average import prices reached the maximum at $X per ton in 2014; however, from 2015 to 2023, import prices stood at a somewhat lower figure.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Germany (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform