Argentina: Plastic Closure Market 2024

Plastic Closure Market Size in Argentina

The Argentinian plastic closure market expanded sharply to $X in 2022, surging by 13% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, continues to indicate a noticeable setback. As a result, consumption reached the peak level of $X. From 2016 to 2022, the growth of the market remained at a lower figure.

Plastic Closure Exports

Exports from Argentina

In 2022, the amount of plastic stoppers, caps and closures exported from Argentina rose to X tons, surging by 1.5% against the year before. Over the period under review, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 19%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, plastic closure exports rose notably to $X in 2022. Overall, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 26% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Chile (X tons), Paraguay (X tons) and Uruguay (X tons) were the main destinations of plastic closure exports from Argentina, with a combined 68% share of total exports. Brazil, Bolivia, the United States and Peru lagged somewhat behind, together comprising a further 26%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of +18.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for plastic closure exported from Argentina were Chile ($X), Uruguay ($X) and Paraguay ($X), together comprising 60% of total exports. Brazil, the United States, Bolivia and Peru lagged somewhat behind, together comprising a further 31%.

The United States, with a CAGR of +20.4%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average plastic closure export price amounted to $X per ton, surging by 6.8% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of 8.5% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2016 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Paraguay ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+1.9%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Closure Imports

Imports into Argentina

For the third consecutive year, Argentina recorded growth in overseas purchases of plastic stoppers, caps and closures, which increased by 2.2% to X tons in 2022. Over the period under review, imports, however, showed a slight setback. The most prominent rate of growth was recorded in 2015 with an increase of 22% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, plastic closure imports expanded sharply to $X in 2022. Overall, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 17%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Brazil (X tons) constituted the largest supplier of plastic closure to Argentina, with a 55% share of total imports. Moreover, plastic closure imports from Brazil exceeded the figures recorded by the second-largest supplier, China (X tons), sixfold. The third position in this ranking was held by Mexico (X tons), with a 6.6% share.

From 2012 to 2022, the average annual growth rate of volume from Brazil amounted to +6.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+9.1% per year) and Mexico (-5.0% per year).

In value terms, Brazil ($X) constituted the largest supplier of plastic stoppers, caps and closures to Argentina, comprising 46% of total imports. The second position in the ranking was held by China ($X), with a 12% share of total imports. It was followed by Germany, with a 7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Brazil stood at +5.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+10.7% per year) and Germany (+8.1% per year).

Import Prices by Country

In 2022, the average plastic closure import price amounted to $X per ton, picking up by 10% against the previous year. Over the last decade, it increased at an average annual rate of +1.2%. The most prominent rate of growth was recorded in 2021 when the average import price increased by 17% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Free Zones ($X per ton), while the price for Chile ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Free Zones (+11.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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