Southern Asia: Plastic Ornamental Articles Market 2023

Plastic Ornamental Articles Market Size in Southern Asia

The South Asian plastic ornamental articles market shrank modestly to $X in 2022, with a decrease of -2.9% against the previous year. The market value increased at an average annual rate of +1.7% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X, and then reduced modestly in the following year.

Plastic Ornamental Articles Production in Southern Asia

In value terms, plastic ornamental articles production totaled $X in 2022 estimated in export price. Over the period under review, production, however, recorded a slight downturn. The pace of growth was the most pronounced in 2020 with an increase of 22%. The level of production peaked at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Plastic Ornamental Articles Exports

Exports in Southern Asia

After five years of growth, overseas shipments of statuettes and other ornamental articles of plastic decreased by -26.6% to X tons in 2022. Overall, exports, however, showed a resilient expansion. The growth pace was the most rapid in 2013 with an increase of 166%. Over the period under review, the exports hit record highs at X tons in 2021, and then dropped significantly in the following year.

In value terms, plastic ornamental articles exports fell significantly to $X in 2022. Over the period under review, exports, however, enjoyed a strong expansion. The most prominent rate of growth was recorded in 2013 with an increase of 286% against the previous year. The level of export peaked at $X in 2021, and then contracted significantly in the following year.

Exports by Country

In 2022, India (X tons) was the major exporter of statuettes and other ornamental articles of plastic, comprising 56% of total exports. It was distantly followed by Pakistan (X tons), comprising a 36% share of total exports. Bangladesh (X tons) and Sri Lanka (X tons) held a relatively small share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Pakistan (with a CAGR of +40.1%), while the other leaders experienced more modest paces of growth.

In value terms, India ($X) remains the largest plastic ornamental articles supplier in Southern Asia, comprising 62% of total exports. The second position in the ranking was held by Pakistan ($X), with a 17% share of total exports. It was followed by Bangladesh, with a 14% share.

In India, plastic ornamental articles exports expanded at an average annual rate of +4.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Pakistan (+34.7% per year) and Bangladesh (+47.5% per year).

Export Prices by Country

In 2022, the export price in Southern Asia amounted to $X per ton, waning by -21.8% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the export price increased by 45%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the export prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bangladesh (+14.0%), while the other leaders experienced more modest paces of growth.

Plastic Ornamental Articles Imports

Imports in Southern Asia

In 2022, the amount of statuettes and other ornamental articles of plastic imported in Southern Asia contracted to X tons, shrinking by -14.9% against 2021. Over the period under review, imports, however, recorded a buoyant increase. The growth pace was the most rapid in 2021 with an increase of 75% against the previous year. As a result, imports attained the peak of X tons, and then fell in the following year.

In value terms, plastic ornamental articles imports dropped rapidly to $X in 2022. Total imports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +6.8% 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 +21.5% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 49% against the previous year. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, India (X tons) was the key importer of statuettes and other ornamental articles of plastic, constituting 76% of total imports. Pakistan (X tons) held a 14% share (based on physical terms) of total imports, which put it in second place, followed by Bangladesh (5.7%). Afghanistan (X tons) followed a long way behind the leaders.

Imports into India increased at an average annual rate of +10.2% from 2012 to 2022. At the same time, Afghanistan (+21.0%), Pakistan (+18.9%) and Bangladesh (+18.2%) displayed positive paces of growth. Moreover, Afghanistan emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +21.0% from 2012-2022. From 2012 to 2022, the share of Pakistan, Bangladesh and Afghanistan increased by +7, +2.7 and +1.8 percentage points, respectively.

In value terms, India ($X) constitutes the largest market for imported statuettes and other ornamental articles of plastic in Southern Asia, comprising 62% of total imports. The second position in the ranking was taken by Bangladesh ($X), with a 19% share of total imports. It was followed by Pakistan, with a 10% share.

In India, plastic ornamental articles imports expanded at an average annual rate of +5.6% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Bangladesh (+26.9% per year) and Pakistan (+13.5% per year).

Import Prices by Country

In 2022, the import price in Southern Asia amounted to $X per ton, declining by -3.9% against the previous year. Over the period under review, the import price continues to indicate a perceptible shrinkage. The most prominent rate of growth was recorded in 2014 when the import price increased by 19%. The level of import peaked at $X per ton in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

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 Bangladesh ($X per ton), while Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bangladesh (+7.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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