Bahrain: Plastic Closure Market 2024

Plastic Closure Market Size in Bahrain

The Bahraini plastic closure market was finally on the rise to reach $X in 2022, after two years of decline. The market value increased at an average annual rate of +1.7% from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. Plastic closure consumption peaked in 2022 and is expected to retain growth in the immediate term.

Plastic Closure Production in Bahrain

In value terms, plastic closure production amounted to $X in 2022 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the production volume increased by 24% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

Plastic Closure Exports

Exports from Bahrain

In 2022, after two years of growth, there was significant decline in shipments abroad of plastic stoppers, caps and closures, when their volume decreased by -12% to X tons. Over the period under review, exports recorded a abrupt setback. The most prominent rate of growth was recorded in 2013 when exports increased by 30%. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, plastic closure exports fell to $X in 2022. Overall, exports continue to indicate a deep setback. The pace of growth was the most pronounced in 2013 with an increase of 25%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Saudi Arabia (X tons) was the main destination for plastic closure exports from Bahrain, with a 55% share of total exports. Moreover, plastic closure exports to Saudi Arabia exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), fivefold. The third position in this ranking was held by Yemen (X tons), with an 11% share.

From 2012 to 2022, the average annual growth rate of volume to Saudi Arabia stood at -6.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+2.5% per year) and Yemen (+2.0% per year).

In value terms, Saudi Arabia ($X) remains the key foreign market for plastic stoppers, caps and closures exports from Bahrain, comprising 54% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 12% share of total exports. It was followed by Yemen, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Saudi Arabia totaled -8.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+1.8% per year) and Yemen (+1.8% per year).

Export Prices by Country

In 2022, the average plastic closure export price amounted to $X per ton, rising by 5.3% against the previous year. Overall, the export price, however, continues to indicate a mild decrease. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Qatar ($X per ton), while the average price for exports to Oman ($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 Qatar (+20.1%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Closure Imports

Imports into Bahrain

In 2022, overseas purchases of plastic stoppers, caps and closures increased by 15% to X tons, rising for the second year in a row after three years of decline. In general, imports, however, recorded a drastic downturn. The growth pace was the most rapid in 2017 with an increase of 54% against the previous year. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, plastic closure imports soared to $X in 2022. Over the period under review, imports, however, saw a deep contraction. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

The United Arab Emirates (X tons), Saudi Arabia (X tons) and China (X tons) were the main suppliers of plastic closure imports to Bahrain, with a combined 63% share of total imports. India, Turkey, Free Zones, Poland, Hungary and Spain lagged somewhat behind, together accounting for a further 28%.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +66.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), China ($X) and Saudi Arabia ($X) were the largest plastic closure suppliers to Bahrain, together accounting for 54% of total imports. Turkey, India, Free Zones, Poland, Hungary and Spain lagged somewhat behind, together accounting for a further 27%.

Poland, with a CAGR of +83.1%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average plastic closure import price stood at $X per ton in 2022, increasing by 17% against the previous year. Over the period under review, the import price, however, recorded a mild curtailment. The pace of growth was the most pronounced in 2018 when the average import price increased by 54% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 Poland ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+9.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform