Brazil: Plastic Closure Market 2024

Plastic Closure Market Size in Brazil

The Brazilian plastic closure market stood at $X in 2022, flattening at the previous year. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the market value increased by 8.1%. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market remained at a lower figure.

Plastic Closure Production in Brazil

In value terms, plastic closure production reached $X in 2022 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the production volume increased by 8.3%. As a result, production attained the peak level of $X. From 2017 to 2022, production growth remained at a somewhat lower figure.

Plastic Closure Exports

Exports from Brazil

In 2022, the amount of plastic stoppers, caps and closures exported from Brazil expanded notably to X tons, growing by 8.6% against the previous year's figure. In general, total exports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +103.1% against 2016 indices. The growth pace was the most rapid in 2020 with an increase of 18% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to see steady growth in the near future.

In value terms, plastic closure exports surged to $X in 2022. Over the period under review, total exports indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +91.4% against 2016 indices. The most prominent rate of growth was recorded in 2021 with an increase of 25%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in years to come.

Exports by Country

Argentina (X tons) was the main destination for plastic closure exports from Brazil, accounting for a 31% share of total exports. Moreover, plastic closure exports to Argentina exceeded the volume sent to the second major destination, the United States (X tons), twofold. The third position in this ranking was taken by Chile (X tons), with an 11% share.

From 2012 to 2022, the average annual growth rate of volume to Argentina stood at +1.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+14.4% per year) and Chile (+13.8% per year).

In value terms, Argentina ($X) remains the key foreign market for plastic stoppers, caps and closures exports from Brazil, comprising 31% of total exports. The second position in the ranking was held by the United States ($X), with a 14% share of total exports. It was followed by Chile, with a 12% share.

From 2012 to 2022, the average annual growth rate of value to Argentina stood at +2.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+11.0% per year) and Chile (+10.5% per year).

Export Prices by Country

The average plastic closure export price stood at $X per ton in 2022, growing by 9.4% against the previous year. In general, the export price, however, saw a mild reduction. The pace of growth was the most pronounced in 2021 when the average export price increased by 11% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Paraguay ($X per ton), while the average price for exports to the Dominican Republic ($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 Paraguay (+0.8%), while the prices for the other major destinations experienced mixed trend patterns.

Plastic Closure Imports

Imports into Brazil

In 2022, imports of plastic stoppers, caps and closures into Brazil declined slightly to X tons, waning by -3.7% compared with the previous year's figure. Over the period under review, imports showed a mild setback. The most prominent rate of growth was recorded in 2013 with an increase of 18%. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, plastic closure imports expanded sharply to $X in 2022. Overall, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when imports increased by 21% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

China (X tons), Germany (X tons) and Paraguay (X tons) were the main suppliers of plastic closure imports to Brazil, with a combined 50% share of total imports. The United States, Mexico, France, Spain, Argentina, Slovenia, Italy, Colombia, India and Thailand lagged somewhat behind, together accounting for a further 43%.

From 2012 to 2022, the biggest increases were recorded for Slovenia (with a CAGR of +48.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest plastic closure suppliers to Brazil were Germany ($X), China ($X) and the United States ($X), with a combined 55% share of total imports. France, Mexico, Italy, Argentina, Paraguay, Spain, India, Colombia, Thailand and Slovenia lagged somewhat behind, together accounting for a further 35%.

In terms of the main suppliers, Slovenia, with a CAGR of +49.9%, saw the highest growth rate of the value of imports, 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, rising by 11% against the previous year. Over the last decade, it increased at an average annual rate of +1.1%. 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 ($X per ton), while the price for Paraguay ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+6.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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