ASEAN: Plastic Closure Market 2024

Plastic Closure Market Size in ASEAN

The ASEAN plastic closure market expanded notably to $X in 2022, surging by X% against the previous year. The total consumption indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by X% against 2020 indices. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Plastic Closure Production in ASEAN

In value terms, plastic closure production expanded rapidly to $X in 2022 estimated in export price. The total production indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Plastic Closure Exports

Exports in ASEAN

In 2022, overseas shipments of plastic stoppers, caps and closures decreased by X% to X tons for the first time since 2015, thus ending a six-year rising trend. Total exports indicated a strong expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2012 indices. The most prominent rate of growth was recorded in 2019 when exports increased by X%. The volume of export peaked at X tons in 2021, and then fell modestly in the following year.

In value terms, plastic closure exports dropped to $X in 2022. Total exports indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2015 indices. The most prominent rate of growth was recorded in 2019 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2021, and then shrank modestly in the following year.

Exports by Country

Thailand (X tons) and Malaysia (X tons) represented roughly X% of total exports in 2022. Vietnam (X tons) took the next position in the ranking, followed by Singapore (X tons). All these countries together held near X% share of total exports. Indonesia (X tons) and the Philippines (X tons) held a little share of total exports.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest plastic closure supplying countries in ASEAN were Thailand ($X), Malaysia ($X) and Vietnam ($X), together accounting for X% of total exports.

Vietnam, with a CAGR of X%, saw the highest growth rate of 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 ASEAN stood at $X per ton in 2022, approximately equating the previous year. Over the period under review, the export price, however, recorded a slight descent. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

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

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

Plastic Closure Imports

Imports in ASEAN

For the seventh consecutive year, ASEAN recorded growth in supplies from abroad of plastic stoppers, caps and closures, which increased by X% to X tons in 2022. Total imports indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2012 indices. The growth pace was the most rapid in 2016 when imports increased by X%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, plastic closure imports rose markedly to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, Indonesia (X tons), distantly followed by Thailand (X tons), Malaysia (X tons), Vietnam (X tons), the Philippines (X tons) and Singapore (X tons) represented the main importers of plastic stoppers, caps and closures, together constituting X% of total imports. Cambodia (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Cambodia (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest plastic closure importing markets in ASEAN were Thailand ($X), Vietnam ($X) and Indonesia ($X), together comprising X% of total imports. Malaysia, Singapore, the Philippines and Cambodia lagged somewhat behind, together comprising a further X%.

In terms of the main importing countries, Cambodia, with a CAGR of X%, recorded the highest growth rate of 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 2022, with a decrease of X% against the previous year. Overall, the import price saw a mild shrinkage. The pace of growth was the most pronounced in 2019 an increase of X%. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, 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 Vietnam (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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