Eastern Asia: Market for Plastics in Primary Forms 2024

Market Size for Plastics in Primary Forms in Eastern Asia

The East Asian plastics in primary forms market shrank modestly to $X in 2023, remaining constant against the previous year. Overall, consumption, however, recorded a relatively flat trend pattern. As a result, consumption attained 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 Eastern Asia

In value terms, plastics in primary forms production rose significantly 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 remained relatively stable, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, production attained the peak level of $X. From 2022 to 2023, production growth remained at a somewhat lower figure.

Exports of Plastics in Primary Forms

Exports in Eastern Asia

In 2023, plastics in primary forms exports in Eastern Asia expanded significantly to X tons, with an increase of X% on the previous year's figure. The total export volume increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by X%. As a result, the exports attained the peak of X tons. From 2022 to 2023, the growth of the exports remained at a somewhat lower figure.

In value terms, plastics in primary forms exports contracted 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 in certain years. The most prominent rate of growth was recorded in 2021 when exports increased by X%. As a result, the exports attained the peak of $X. From 2022 to 2023, the growth of the exports remained at a lower figure.

Exports by Country

South Korea (X tons) and China (X tons) were the largest exporters of plastics in primary formses in 2023, reaching near X% and X% of total exports, respectively. Taiwan (Chinese) (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Japan (X%). Hong Kong SAR (X tons) took a little share of total exports.

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

In value terms, South Korea ($X), China ($X) and Taiwan (Chinese) ($X) constituted the countries with the highest levels of exports in 2023, together comprising X% of total exports.

China, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2023, with a decrease of X% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the export price increased by X%. Over the period under review, the export prices attained the maximum at $X per ton in 2022, and then reduced in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($X per ton), while China ($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 export price figures.

Imports of Plastics in Primary Forms

Imports in Eastern Asia

In 2023, purchases abroad of plastics in primary formses decreased by X% to X tons, falling for the third consecutive year after four years of growth. Overall, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. The volume of import peaked at X tons in 2020; however, from 2021 to 2023, imports failed to regain momentum.

In value terms, plastics in primary forms imports fell remarkably to $X in 2023. Over the period under review, imports continue to indicate a noticeable decrease. The most prominent rate of growth was recorded in 2021 when imports increased by X%. As a result, imports reached the peak of $X. From 2022 to 2023, the growth of imports failed to regain momentum.

Imports by Country

In 2023, China (X tons) represented the major importer of plastics in primary formses, committing X% of total imports. It was distantly followed by Japan (X tons), South Korea (X tons) and Taiwan (Chinese) (X tons), together making up a X% share of total imports. Hong Kong SAR (X tons) held a minor share of total imports.

China experienced a relatively flat trend pattern with regard to volume of imports of plastics in primary formses. At the same time, Japan (X%) and South Korea (X%) displayed positive paces of growth. Moreover, Japan emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of X% from 2012-2023. Taiwan (Chinese) experienced a relatively flat trend pattern. By contrast, Hong Kong SAR (X%) illustrated a downward trend over the same period. China (X p.p.) and Japan (X p.p.) significantly strengthened its position in terms of the total imports, while Hong Kong SAR saw its share reduced by X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2012 to 2023, the average annual growth rate of value in China amounted to X%. In the other countries, the average annual rates were as follows: Japan (X% per year) and South Korea (X% per year).

Import Prices by Country

In 2023, the import price in Eastern Asia amounted to $X per ton, dropping by X% against the previous year. In general, the import price saw a mild setback. The most prominent rate of growth was recorded in 2021 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2014; however, from 2015 to 2023, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was South Korea ($X per ton), while China ($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