ASEAN: Market for Plastics in Primary Forms 2024

Market Size for Plastics in Primary Forms in ASEAN

In 2023, after two years of growth, there was decline in the ASEAN plastics in primary forms market, when its value decreased by X% to $X. The market value increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. Over the period under review, the market reached the peak level at $X in 2022, and then dropped slightly in the following year.

Production of Plastics in Primary Forms in ASEAN

In value terms, plastics in primary forms production amounted to $X in 2023 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The level of production peaked at $X in 2014; however, from 2015 to 2023, production remained at a lower figure.

Exports of Plastics in Primary Forms

Exports in ASEAN

For the fifth consecutive year, ASEAN recorded decline in shipments abroad of plastics in primary formses, which decreased by X% to X tons in 2023. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when exports increased by X%. The volume of export peaked at X tons in 2018; however, from 2019 to 2023, the exports remained at a lower figure.

In value terms, plastics in primary forms exports fell rapidly to $X in 2023. In general, exports showed a noticeable curtailment. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

The shipments of the three major exporters of plastics in primary formses, namely Thailand, Singapore and Malaysia, represented more than two-thirds of total export. Vietnam (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Indonesia (X%).

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

In value terms, the largest plastics in primary forms supplying countries in ASEAN were Thailand ($X), Singapore ($X) and Malaysia ($X), with a combined X% share of total exports. Vietnam and Indonesia lagged somewhat behind, together comprising a further X%.

In terms of the main exporting countries, Vietnam, 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 ASEAN amounted to $X per ton, reducing by X% against the previous year. Over the period under review, the export price showed a pronounced decrease. The most prominent rate of growth was recorded in 2021 when the export price increased by X%. The level of export peaked at $X per ton in 2014; however, from 2015 to 2023, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2023, major exporting countries recorded the following prices: in Vietnam ($X per ton) and Thailand ($X per ton), while Malaysia ($X per ton) and Indonesia ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Vietnam (X%), while the other leaders experienced a decline in the export price figures.

Imports of Plastics in Primary Forms

Imports in ASEAN

In 2023, imports of plastics in primary formses in ASEAN fell slightly to X tons, shrinking by X% on the previous year. The total import volume 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 pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. The volume of import peaked at X tons in 2021; however, from 2022 to 2023, imports failed to regain momentum.

In value terms, plastics in primary forms imports contracted to $X in 2023. The total import value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, imports reached the peak of $X. From 2022 to 2023, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2023, Vietnam (X tons), distantly followed by Indonesia (X tons), Malaysia (X tons), Thailand (X tons), Singapore (X tons) and the Philippines (X tons) were the key importers of plastics in primary formses, together constituting X% of total imports.

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

In value terms, Vietnam ($X), Indonesia ($X) and Thailand ($X) were the countries with the highest levels of imports in 2023, together accounting for X% of total imports.

Among the main importing countries, Vietnam, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2023, falling by X% against the previous year. Over the period under review, the import price saw a slight curtailment. The growth pace was the most rapid in 2021 an increase of X% against the previous year. The level of import peaked at $X per ton in 2013; however, from 2014 to 2023, import prices stood at a somewhat lower figure.

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

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

Source: IndexBox Platform