Canada: Plastic Closure Market 2024

Plastic Closure Market Size in Canada

The Canadian plastic closure market contracted modestly to $X in 2022, falling by -3.5% against the previous year. In general, consumption recorded a mild reduction. As a result, consumption attained the peak level of $X. From 2016 to 2022, the growth of the market failed to regain momentum.

Plastic Closure Production in Canada

In value terms, plastic closure production dropped to $X in 2022 estimated in export price. In general, production showed a pronounced decline. The most prominent rate of growth was recorded in 2015 with an increase of 26% against the previous year. As a result, production reached the peak level of $X. From 2016 to 2022, production growth remained at a somewhat lower figure.

Plastic Closure Exports

Exports from Canada

In 2022, the amount of plastic stoppers, caps and closures exported from Canada expanded rapidly to X tons, surging by 5.4% compared with the previous year's figure. The total export volume increased at an average annual rate of +2.3% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The pace of growth appeared the most rapid in 2014 with an increase of 10% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, plastic closure exports rose rapidly to $X in 2022. The total export value increased at an average annual rate of +3.4% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 18% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the near future.

Exports by Country

The United States (X tons) was the main destination for plastic closure exports from Canada, with a approx. 96% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at +2.8%.

In value terms, the United States ($X) also remains the key foreign market for plastic stoppers, caps and closures exports from Canada.

From 2012 to 2022, the average annual growth rate of value to the United States stood at +4.0%.

Export Prices by Country

In 2022, the average plastic closure export price amounted to $X per ton, rising by 4.6% against the previous year. Over the last decade, it increased at an average annual rate of +1.1%. The pace of growth appeared the most rapid in 2021 when the average export price increased by 15% against the previous year. The export price peaked in 2022 and is likely to continue growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to +1.1% per year.

Plastic Closure Imports

Imports into Canada

In 2022, the amount of plastic stoppers, caps and closures imported into Canada amounted to X tons, with an increase of 3.6% against 2021 figures. The total import volume increased at an average annual rate of +3.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 with an increase of 11%. Imports peaked in 2022 and are likely to see gradual growth in years to come.

In value terms, plastic closure imports skyrocketed to $X in 2022. Over the period under review, total imports indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +4.9% 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 +59.1% against 2015 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of plastic closure to Canada, with a 77% share of total imports. Moreover, plastic closure imports from the United States exceeded the figures recorded by the second-largest supplier, China (X tons), sevenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States stood at +2.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+6.7% per year) and Mexico (+11.8% per year).

In value terms, the United States ($X) constituted the largest supplier of plastic stoppers, caps and closures to Canada, comprising 77% of total imports. The second position in the ranking was taken by China ($X), with an 11% share of total imports.

From 2012 to 2022, the average annual growth rate of value from the United States stood at +4.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+8.7% per year) and Mexico (+13.8% per year).

Import Prices by Country

In 2022, the average plastic closure import price amounted to $X per ton, increasing by 11% against the previous year. Over the last decade, it increased at an average annual rate of +1.8%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Mexico ($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 (+1.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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