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Indonesia Plastics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Indonesia Plastics Market is segmented by Type (Acrylonitrile butadiene styrene (ABS)/ Styrene acrylonitrile (SAN), Liquid Crystal Polymer (LCP), Polyamide (PA), Polybutylene Terephthalate (PBT), Polycarbonates (PC), Polyether Ether Ketone (PEEK), Polyethylene (PE), Polyethylene Terephthalate (PET), Polyimide (PI), Polymethyl methacrylate (PMMA), Polyoxymethylene (POM), Polypropylene (PP), Polystyrene (PS), Polytetrafluoroethylene (PTFE), Polyvinyl Chloride (PVC), and Other Types), Technology (Blow Molding, Extrusion Molding, Injection Molding, and Other Technologies), Application (Packaging, Electrical and Electronics, Building and Construction, Automotive and Transportation, Furniture, and Other Applications).

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Market Snapshot

Indonesia Plastics Market Bar Graph
Study Period: 2016 - 2026
Base Year: 2020
CAGR: >5 %

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Market Overview

The Indonesian plastics market was valued at over USD 7.5 billion in 2020, and the market is projected to register a CAGR of more than 5% during the forecast period (2021-2026).

COVID-19 has largely affected the raw material import, as the Indonesian plastic market mostly relies on imported raw materials for plastic production. The packaging industry was highly impacted, and this was due to prime concern about the hygiene and safety of reusable packaging. This can act as a barrier to the Indonesian plastics market.

  • Over the medium term, growing demand from the end-user industries such as packaging, electrical, and electronics, as well as the construction industry, is expected to drive the market growth.
  • Over-reliance on the imports of raw materials is expected to hinder the growth of the market.
  • Waste management will be one of the drawbacks, as there is about 200,000 ton of waste is produced every day in Indonesia.
  • Innovative applications such as eco-friendly products are expected to offer various opportunities for the growth of the market.

Scope of the Report

A polymer that can be shaped when soft and then molded into shape while soft and then set into a rigid or slightly elastic form. The Indonesian plastics market is segmented by types such as acrylonitrile butadiene styrene (ABS)/ styrene acrylonitrile (SAN), liquid crystal polymer (LCP), polyamide (PA), polybutylene terephthalate (PBT), polycarbonates (PC), polyether ether ketone (PEEK), polyethylene (PE), polyethylene terephthalate (PET), polyimide (PI), polymethyl methacrylate (PMMA), polyoxymethylene (POM), polypropylene (PP), polystyrene (PS), polytetrafluoroethylene (PTFE), polyvinyl chloride (PVC), and other types. The market is segmented by technology like blow molding, extrusion, injection molding, and other technologies. The market is segmented by applications such as packaging, electrical and electronics, building and construction, automotive and transportation, housewares, furniture and bedding, and other applications. For each segment, the market sizing and forecasts have been done on the basis of revenue (USD million).

Type
Acrylonitrile Butadiene Styrene (ABS)/ Styrene Acrylonitrile (SAN)
Liquid Crystal Polymer (LCP)
Polyamide (PA)
Polybutylene Terephthalate (PBT)
Polycarbonates (PC)
Polyether Ether Ketone (PEEK)
Polyethylene (PE)
Polyethylene Terephthalate (PET)
Polyimide (PI)
Polymethyl Methacrylate (PMMA)
Polypropylene (PP)
Polyoxymethylene (POM)
Polystyrene (PS)
Polyvinyl Chloride (PVC)
Polytetrafluoroethylene (PTFE)
Other Types
Technology
Injection Molding
Extrusion Molding
Blow Molding
Other Technologies
Application
Packaging
Electrical and Electronics
Building and Construction
Automotive and Transportation
Furniture and Bedding
Other Applications

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Key Market Trends

Injection Molding Technology to Dominate the Market

  • Injection molding is mostly done using virgin or high-quality processing resins. High-performance plastic pallets are usually injection molded. Injection molding is a relatively capital-consuming process but offers the advantage of high-speed processes.
  • Therefore, injection molding is found to be beneficial in the bulk production of plastic pallets. Injection molding processes are used in wire spools, packaging, bottle caps, automotive dashboards, pocket combs, etc.
  • The explosive growth of local automotive, packaging, and chemical processing industries across the world is expected to provide a favorable market for injection molding.
  • The investment in the Indonesian manufacturing sector increased from around USD 7.3 billion in the first quarter of 2019 to around USD 9.1 billion during the first quarter of 2020, reaching a 23.9% growth rate.
  • Owing to the increasing demand from various end-user industries, the market for injection molding is projected to increase over the forecast period.
Indonesia Plastics Market Share

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Increasing Demand from the Packaging Industry

  • Packaging accounts for the largest application segment in the Indonesian market. The prime reasons for the growing application of engineering plastics in the packaging segment are better wear and chemical resistance, ease of molding, recyclability, puncture resistance, and high mechanical strength.
  • Some of the major applications of engineering plastics in the packaging segment are as follows: packaging of bottled water, flexible packaging, such as sausage skin, flexible foils, such as shopping bags.
  • Polyethylene terephthalate (PET) is one of the plastics majorly used for packaging purposes in Indonesia, mostly in the food and beverage industry. Portability, design flexibility, ease of cleaning, lightweight, and protection against moisture are a few properties of PET, which makes it suitable for packaging purposes. In addition, low handling hazards, low toxicity, and absence of bisphenol A (BPA) and heavy metals are some of the other factors that allow PET to be used for food packaging.
  • PETs are used for making clamshells, bakery and take-out containers, microwaveable food trays, carbonated soft drink bottles, and other packages. Other applications include packaging materials for cooking oils, shampoo, hand wash, and more products.
  • Among all the industries, the food and packaging industry consumes around 70% of the total packaging industry supplies.
  • The packaging industry in Indonesia was valued at USD 9.6 billion in 2020.
  • Polyamide is another major engineering plastic that finds major application in the packaging sector. Bi-axially oriented and non-oriented polyamide films are used in medical and food packaging, owing to the former’s high impact strength and good heat resistance.
  • Increasing household and commercial applications for containers, plastic bags, canisters, and tableware, among others, are expected to drive the consumption demand for plastics in the packaging sector during the forecast period.
  • The usage of plastics for packaging products is expected to experience fairly steady demand during the forecast period. Requirements for rubber gloves in the healthcare sector, stretch films, garbage bags, and other medical devices are anticipated to witness greater demand in the coming years.
Indonesia Plastics Market Growth By Region

Competitive Landscape

The Indonesia plastics market is consolidated with the top five players accounting for a major share of the market. The prominent players in the market include PT LOTTE CHEMICAL TITAN Tbk, TORAY INDUSTRIES INC., PT Polychem Indonesia Tbk, BASF SE, and PTT Global Chemical Public Company Limited, among others.

Indonesia Plastics Market Analysis

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Growing Demand from the End-user Industries

      2. 4.1.2 Rapid Increase in the Downstream Processing Capacity Additions

      3. 4.1.3 Other Drivers

    2. 4.2 Restraints

      1. 4.2.1 Over-reliance on the Imports of Raw Materials

      2. 4.2.2 Unfavorable Conditions Due to the Impact of COVID-19

      3. 4.2.3 Other Restraints

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Type

      1. 5.1.1 Acrylonitrile Butadiene Styrene (ABS)/ Styrene Acrylonitrile (SAN)

      2. 5.1.2 Liquid Crystal Polymer (LCP)

      3. 5.1.3 Polyamide (PA)

      4. 5.1.4 Polybutylene Terephthalate (PBT)

      5. 5.1.5 Polycarbonates (PC)

      6. 5.1.6 Polyether Ether Ketone (PEEK)

      7. 5.1.7 Polyethylene (PE)

      8. 5.1.8 Polyethylene Terephthalate (PET)

      9. 5.1.9 Polyimide (PI)

      10. 5.1.10 Polymethyl Methacrylate (PMMA)

      11. 5.1.11 Polypropylene (PP)

      12. 5.1.12 Polyoxymethylene (POM)

      13. 5.1.13 Polystyrene (PS)

      14. 5.1.14 Polyvinyl Chloride (PVC)

      15. 5.1.15 Polytetrafluoroethylene (PTFE)

      16. 5.1.16 Other Types

    2. 5.2 Technology

      1. 5.2.1 Injection Molding

      2. 5.2.2 Extrusion Molding

      3. 5.2.3 Blow Molding

      4. 5.2.4 Other Technologies

    3. 5.3 Application

      1. 5.3.1 Packaging

      2. 5.3.2 Electrical and Electronics

      3. 5.3.3 Building and Construction

      4. 5.3.4 Automotive and Transportation

      5. 5.3.5 Furniture and Bedding

      6. 5.3.6 Other Applications

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Asahimas Chemical Company

      2. 6.4.2 BASF SE

      3. 6.4.3 PT LOTTE CHEMICAL TITAN Tbk

      4. 6.4.4 PT. INNAN

      5. 6.4.5 PT Pertamina(Persero)

      6. 6.4.6 PT Polychem Indonesia Tbk

      7. 6.4.7 Premier Global Partners

      8. 6.4.8 Chandra Asri Petrochemical

      9. 6.4.9 LyondellBasell Industries Holdings BV

      10. 6.4.10 PT. Standard Toyo Polymer (Tosoh Corporation)

      11. 6.4.11 Sulfindo Adiusaha

      12. 6.4.12 PTT Global Chemical Public Company Limited

      13. 6.4.13 P.T. Solvay Chemicals Indonesia

      14. 6.4.14 TORAY INDUSTRIES INC.

      5. *List Not Exhaustive

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Eco-friendly Products

    2. 7.2 Other Opportunities

**Subject to Availability

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Frequently Asked Questions

The Indonesia Plastics Market market is studied from 2016 - 2026.

The Indonesia Plastics Market is growing at a CAGR of >5% over the next 5 years.

The Indonesia Plastics Market is valued at 7 Billion USD in 2016.

PT LOTTE CHEMICAL TITAN Tbk, PTT Global Chemical Public Company Limited, BASF SE, PT Polychem Indonesia Tbk, TORAY INDUSTRIES, INC. are the major companies operating in Indonesia Plastics Market.

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