Australia: Plastic Closure Market 2024

Plastic Closure Market Size in Australia

The Australian plastic closure market expanded rapidly to $X in 2022, picking up by 8.4% 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). Over the period under review, consumption, however, showed prominent growth. Plastic closure consumption peaked in 2022 and is expected to retain growth in the near future.

Plastic Closure Exports

Exports from Australia

In 2022, exports of plastic stoppers, caps and closures from Australia shrank sharply to X tons, reducing by -17.3% against the year before. Over the period under review, exports recorded a perceptible contraction. The growth pace was the most rapid in 2021 when exports increased by 38%. Over the period under review, the exports attained the maximum at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, plastic closure exports shrank to $X in 2022. Overall, exports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when exports increased by 49%. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

New Zealand (X tons), the United States (X tons) and South Africa (X tons) were the main destinations of plastic closure exports from Australia, together accounting for 71% of total exports. Papua New Guinea, Switzerland, Thailand, Malaysia, China, Fiji, Turkey and Indonesia lagged somewhat behind, together comprising a further 20%.

From 2012 to 2022, the biggest increases were recorded for Switzerland (with a CAGR of +71.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for plastic closure exported from Australia were New Zealand ($X), the United States ($X) and South Africa ($X), with a combined 71% share of total exports. Papua New Guinea, Switzerland, Thailand, Malaysia, China, Fiji, Turkey and Indonesia lagged somewhat behind, together accounting for a further 20%.

Among the main countries of destination, Switzerland, with a CAGR of +50.3%, recorded the highest growth rate of the value of exports, 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, with an increase of 11% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.6%. The pace of growth was the most pronounced in 2018 when the average export price increased by 21%. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the near future.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to South Africa ($X per ton) and the United States ($X per ton), while the average price for exports to Malaysia ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to New Zealand (+4.6%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Closure Imports

Imports into Australia

In 2022, after ten years of growth, there was significant decline in overseas purchases of plastic stoppers, caps and closures, when their volume decreased by -7.1% to X tons. The total import volume increased at an average annual rate of +4.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 with an increase of 13%. Over the period under review, imports reached the maximum at X tons in 2021, and then fell in the following year.

In value terms, plastic closure imports expanded remarkably to $X in 2022. In general, total imports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +7.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +68.1% against 2014 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 14% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of plastic closure to Australia, with a 52% share of total imports. Moreover, plastic closure imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X tons), sevenfold. Germany (X tons) ranked third in terms of total imports with a 5.5% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +12.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+4.3% per year) and Germany (+5.8% per year).

In value terms, China ($X) constituted the largest supplier of plastic stoppers, caps and closures to Australia, comprising 47% of total imports. The second position in the ranking was held by the United States ($X), with a 9% share of total imports. It was followed by Germany, with a 7.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +15.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+1.4% per year) and Germany (+15.3% per year).

Import Prices by Country

The average plastic closure import price stood at $X per ton in 2022, growing by 17% against the previous year. Over the last decade, it increased at an average annual rate of +3.1%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+13.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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