Funneng Plastics Machinery Insights | Analysis of the Current State of China’s Plastic Machinery Export Market in 2023: Injection Molding Machines Account for the Largest Share of Exports

With the strategic goal of “establishing a leading position in China and expanding globally,” Funeng Precision Machinery has been actively developing the overseas market for high-speed PET injection molding machines. In 2023, its high-speed injection molding systems won favor in international markets thanks to their stability, energy efficiency, high performance, excellent cost-effectiveness, and comprehensive after-sales service. Meanwhile, to meet the evolving demands of foreign markets, Funeng closely monitors trends in China’s plastics machinery import and export sector. The following is an analysis of the current state of China’s plastics machinery export market in 2023:

— The plastic machinery industry’s export volume peaked in 2021.

From January to April 2018–2023, according to data from the General Administration of Customs, China’s plastic machinery exports peaked in 2021, with a total of 4.8708 million units valued at RMB 35.808 billion. In 2022, export volume declined to 2.8677 million units, down 41.38% year on year, while the total value fell slightly to RMB 34.35 billion. The concurrent decline in export volume and relatively muted fluctuations in value suggest that China’s plastic machinery export mix is shifting from mid- to low-end products toward higher‑end segments.

— After a decline, the average export price of plastic machinery has stabilized and begun to rebound.

Since 2018, the average export price of plastic machinery has followed a trend of initial decline, followed by stabilization and recovery. From January to April 2023, the average export price rebounded to RMB 14,219 per unit, essentially returning to the 2018 level. This shift is primarily attributable to the transformation underway in China’s plastic machinery industry, which has led to changes in the structure of exported product categories.

— Injection molding machines account for the largest share of exports.

According to data from the General Administration of Customs, in 2022, injection molding machines were the largest category in China’s plastic machinery exports, accounting for 31.80% of the total. In addition, other extruders and other molding or forming machines also represented significant shares, comprising 10.96% and 5.03% of the total, respectively.

— Vietnam is a major destination for plastic machinery exports.

According to data from the General Administration of Customs, in 2022, Vietnam was the primary destination for China’s plastic machinery exports, with export value reaching RMB 4.519 billion, accounting for 10% of the total. India ranked second, with exports totaling RMB 3.263 billion, or 8%. China’s plastic machinery is exported to numerous destinations, and other regions also represent a significant share, collectively accounting for 48%.

— Outlook for the Export Prospects of China’s Plastics Machinery Industry

At present, China’s plastics machinery industry is at a critical juncture of transformation, undergoing the painful process of phasing out outdated production capacity. As a major exporter of plastics machinery, Chinese manufacturers have largely captured the mid- and low-end markets and are now advancing into the high-end segment. Amidst the gradual recovery of the international economic environment amid volatility, China’s plastics machinery exports are expected to expand steadily, with average unit prices remaining on a steady upward trajectory. However, it should be noted that as the sector increasingly shifts toward a technology‑driven model, its export performance may face heightened challenges from foreign trade protectionism.

Source: Qianzhan.com