Cameroon: Plastic Closure Market 2024

Plastic Closure Market Size in Cameroon

In 2022, the Cameroonian plastic closure market decreased by -1.8% to $X for the first time since 2017, thus ending a four-year rising trend. Overall, consumption showed prominent growth. Plastic closure consumption peaked at $X in 2021, and then declined slightly in the following year.

Plastic Closure Exports

Exports from Cameroon

In 2022, approx. X tons of plastic stoppers, caps and closures were exported from Cameroon; picking up by 200% against the year before. In general, exports, however, recorded a deep reduction. The pace of growth appeared the most rapid in 2016 when exports increased by 342% against the previous year. As a result, the exports attained the peak of X tons. From 2017 to 2022, the growth of the exports failed to regain momentum.

In value terms, plastic closure exports skyrocketed to $X in 2022. Overall, exports, however, continue to indicate a abrupt shrinkage. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Benin (X kg), Central African Republic (X kg) and Gabon (X kg) were the main destinations of plastic closure exports from Cameroon, with a combined 87% share of total exports. The United States, Cote d'Ivoire, Chad, Congo and Canada lagged somewhat behind, together accounting for a further 11%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Canada (with a CAGR of +41.9%), while the other leaders experienced more modest paces of growth.

In value terms, Central African Republic ($X), Cote d'Ivoire ($X) and the United States ($X) constituted the largest markets for plastic closure exported from Cameroon worldwide, with a combined 62% share of total exports. Benin, Canada, Gabon, Congo and Chad lagged somewhat behind, together comprising a further 20%.

In terms of the main countries of destination, Canada, with a CAGR of +57.1%, saw 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, falling by -32.1% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 73%. The export price peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per ton), while the average price for exports to Benin ($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 Congo (+16.1%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Closure Imports

Imports into Cameroon

In 2022, approx. X tons of plastic stoppers, caps and closures were imported into Cameroon; surging by 7.5% compared with 2021. Overall, imports saw a resilient expansion. The pace of growth was the most pronounced in 2016 when imports increased by 60% against the previous year. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, plastic closure imports shrank to $X in 2022. In general, imports continue to indicate a strong increase. The pace of growth was the most pronounced in 2016 with an increase of 57% against the previous year. Imports peaked at $X in 2021, and then fell in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest plastic closure supplier to Cameroon, with a 41% share of total imports. Moreover, plastic closure imports from China exceeded the figures recorded by the second-largest supplier, Spain (X tons), fourfold. Turkey (X tons) ranked third in terms of total imports with an 8.6% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +25.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+0.7% per year) and Turkey (+8.4% per year).

In value terms, China ($X) constituted the largest supplier of plastic stoppers, caps and closures to Cameroon, comprising 45% of total imports. The second position in the ranking was held by Spain ($X), with a 10% share of total imports. It was followed by Egypt, with a 9.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +29.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (-1.3% per year) and Egypt (+10.3% per year).

Import Prices by Country

The average plastic closure import price stood at $X per ton in 2022, waning by -10.1% against the previous year. Over the period under review, the import price recorded a mild decrease. The growth pace was the most rapid in 2021 when the average import price increased by 23%. Over the period under review, average import prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

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 France ($X per ton), while the price for South Korea ($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 Arab Emirates (+6.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform