Singapore: Plastic Box Market 2024

Plastic Box Market Size in Singapore

The Singaporean plastic box market amounted to $X in 2022, increasing by X% against the previous year. Overall, the total consumption indicated a prominent 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 increased by X% against 2017 indices. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the immediate term.

Plastic Box Production in Singapore

In value terms, plastic box production contracted modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2019 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Plastic Box Exports

Exports from Singapore

In 2022, approx. X tons of plastic boxes, cases, crates and similar packing articles were exported from Singapore; waning by X% compared with the year before. The total export volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2019 with an increase of X%. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, plastic box exports contracted to $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of X%. As a result, the exports attained the peak of $X, and then shrank in the following year.

Exports by Country

Malaysia (X tons) was the main destination for plastic box exports from Singapore, with a X% share of total exports. Moreover, plastic box exports to Malaysia exceeded the volume sent to the second major destination, Vietnam (X tons), threefold. The third position in this ranking was held by Indonesia (X tons), with an X% share.

From 2012 to 2022, the average annual growth rate of volume to Malaysia totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (X% per year) and Indonesia (X% per year).

In value terms, Malaysia ($X) remains the key foreign market for plastic boxes, cases, crates and similar packing articles exports from Singapore, comprising X% of total exports. The second position in the ranking was held by Indonesia ($X), with a X% share of total exports. It was followed by Vietnam, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Malaysia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (X% per year) and Vietnam (X% per year).

Export Prices by Country

In 2022, the average plastic box export price amounted to $X per ton, shrinking by X% against the previous year. Overall, the export price saw 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, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the Philippines ($X per ton), while the average price for exports to Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (X%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Box Imports

Imports into Singapore

After two years of growth, supplies from abroad of plastic boxes, cases, crates and similar packing articles decreased by X% to X tons in 2022. In general, total imports indicated strong growth 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 2017 indices. The pace of growth was the most pronounced in 2015 when imports increased by X%. Over the period under review, imports attained the peak figure at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, plastic box imports shrank to $X in 2022. Over the period under review, total imports indicated a buoyant 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, imports increased by X% against 2017 indices. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of $X, leveling off in the following year.

Imports by Country

Japan (X tons), Malaysia (X tons) and China (X tons) were the main suppliers of plastic box imports to Singapore, with a combined X% share of total imports. Germany, the United States, Taiwan (Chinese), Thailand and Switzerland lagged somewhat behind, together comprising a further X%.

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

In value terms, the largest plastic box suppliers to Singapore were Malaysia ($X), Japan ($X) and China ($X), with a combined X% share of total imports. Germany, the United States, Taiwan (Chinese), Switzerland and Thailand lagged somewhat behind, together comprising a further X%.

Germany, with a CAGR of X%, recorded the highest rates of growth with regard to 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

The average plastic box import price stood at $X per ton in 2022, jumping by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Malaysia ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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