IndexBox has just published a new report: ‘U.S. – Plastic Sacks And Bags – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.
In 2020, American imports of plastic sacks and bags soared by +7.7% y-o-y to $3.2B, continuing a steady increase seen over the past decade. China, Canada and Thailand remain leading suppliers of plastic sacks and bags to the U.S., accounting for 55% of the American imports. Last year, purchases from China declined, while imports from Canada grew significantly. Germany emerged as the fastest-growing supplier of plastic sacks and bags to the U.S. The average plastic bag import price increased by +2.7% y-o-y to $3,284 per tonne in 2020.
US’s Imports of Plastic Sacks and Bags
In 2020, approx. 973K tonnes of plastic sacks and bags were imported into the U.S., surging by +4.9% on the year before. In value terms, plastic bag imports rose by +7.7% y-o-y to $3.2B (IndexBox estimates) in 2020. Over the past decade, American imports grew from 544K tonnes to 973K tonnes.
China (266K tonnes), Canada (184K tonnes) and Thailand (85K tonnes) were the main suppliers of plastic bag imports to the U.S., with a combined 55% share of total imports. Mexico, Viet Nam, Malaysia, Taiwan (Chinese), South Korea, India, Cambodia and Germany lagged somewhat behind, together comprising a further 35%.
In physical terms, purchases from China reduced by -16% y-o-y, while the imports from Canada boosted by +38% y-o-y. Among the main suppliers, Germany recorded the highest growth rate of the import volume. The supplies from Germany grew from 11K tonnes to 17K tonnes over the last year.
In value terms, the largest plastic bag suppliers to the U.S. were China ($844M), Canada ($583M) and Thailand ($267M), with a combined 53% share of total imports. Mexico, Viet Nam, Malaysia, South Korea, Taiwan (Chinese), India, Germany and Cambodia lagged somewhat behind, together comprising a further 35%.
The average plastic bag import price stood at $3,284 per tonne in 2020, rising by +2.7% against the previous year. Average prices varied somewhat amongst the major supplying countries. In 2020, the countries with the highest prices were South Korea ($3,862 per tonne) and Germany ($3,753 per tonne), while the price for India ($2,982 per tonne) and Cambodia ($3,085 per tonne) were amongst the lowest. In 2020, the most notable rate of growth in terms of prices was attained by Malaysia, while the prices for the other major suppliers experienced more modest paces of growth.
Source: IndexBox Platform