Rubber and Plastic in Asia Pacific

November 2021

With production of USD967 billion, Asia Pacific was the largest rubber and plastic producer globally in 2020. Regional production of rubber and plastic products remains highly concentrated in China, Japan and South Korea. Over 2021-2030, Asia Pacific is projected to be the second fastest growing region, driven by a strong economic recovery from the Coronavirus pandemic, rapidly growing manufacturing and construction sectors, and relatively low production costs.

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Key findings

Asia Pacific is forecast to lead global industry recovery

Asia Pacific is the leading region in the global rubber and plastic industry, accounting for over half of global output. Thanks to a strong economic rebound, a rapidly growing manufacturing base and pent-up demand, Asia Pacific is forecast to reach pre-pandemic levels in 2021 and drive global industry recovery in coming years. However, rising costs of raw materials, supply chain disruptions as well as increasing concerns over environmental issues will continue to pose challenges for rubber and plastic producers in the future.

China to remain the largest regional producer

China is expected to lead the region’s growth in absolute terms and remain the largest rubber and plastic goods producer by 2030. The structural reforms and investment projects planned during China's 14th Five-Year Plan period (2021-25) are expected to boost domestic market development and bolster its economic self-reliance, as China faces an increasingly challenging external environment.

Rubber production is more concentrated than plastic products manufacturing

Although the rubber and plastic industry in Asia Pacific is dominated by small companies, large- and medium-sized companies lead in terms of revenue generation. While the plastic products industry is heavily fragmented in the region, rubber production is more concentrated, especially in India and Japan.

Vietnam sees rapid growth in exports

Exports from Vietnam nearly doubled over the 2016-2020 period, as the country’s role as a global manufacturing hub is rising, thanks to economic liberalisation, low production costs, as well as geopolitical tensions and supply chain disruptions.

Trade ties to strengthen across Asia Pacific countries

The Regional Comprehensive Economic Partnership – one of the world's largest free-trade deals – coupled with rising global protectionism and supply chain vulnerabilities are anticipated to boost regional cooperation and trade flows.


Key findings

Production Outlook

Asia Pacific remains the dominant rubber and plastic producer globally
Asia Pacific is set to drive industry recovery from COVID-19
China and Japan to remain the largest regional producers
Emerging and developing countries to witness fastest growth
China will dominate in terms of absolute growth
Asian producers are expected to continue to focus on plastic products

Competitive Landscape

The industry in Asia Pacific is dominated by small companies
Large- and medium-sized companies lead in revenue distribution

Foreign Trade

Vietnam’s exports see double-digit growth
Intra-regional trade ties are expected to strengthen

Country Snapshots

China: Production Context
China: Foreign Trade Landscape
Japan: Production Context
Japan: Foreign Trade Landscape
South Korea: Production Context
South Korea: Foreign Trade Landscape
India : Production Context
India : Foreign Trade Landscape
Thailand: Production Context
Thailand: Foreign Trade Landscape
Taiwan: Production Context
Taiwan: Foreign Trade Landscape
Vietnam: Production Context
Vietnam: Foreign Trade Landscape
Malaysia: Production Context
Malaysia: Foreign Trade Landscape
Indonesia: Production Context
Indonesia: Foreign Trade Landscape
Philippines: Production Context
Philippines: Foreign Trade Landscape
Bangladesh: Production Context
Bangladesh: Foreign Trade Landscape
Pakistan: Production Context
Pakistan: Foreign Trade Landscape
Singapore: Production Context
Singapore: Foreign Trade Landscape
Sri Lanka: Production Context
Sri Lanka: Foreign Trade Landscape
Kazakhstan: Production Context
Kazakhstan: Foreign Trade Landscape
Uzbekistan: Production Context
Uzbekistan: Foreign Trade Landscape
Hong Kong, China: Production Context
Hong Kong, China: Foreign Trade Landscape
Azerbaijan: Production Context
Azerbaijan: Foreign Trade Landscape
Cambodia: Production Context
Cambodia: Foreign Trade Landscape


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