Canada: Plastic Ornamental Articles Market 2024

Plastic Ornamental Articles Market Size in Canada

In 2022, the Canadian plastic ornamental articles market increased by 14% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption, however, saw a noticeable curtailment. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Plastic Ornamental Articles Production in Canada

In value terms, plastic ornamental articles production expanded modestly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a pronounced slump. The most prominent rate of growth was recorded in 2020 when the production volume increased by 19%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Plastic Ornamental Articles Exports

Exports from Canada

In 2022, exports of statuettes and other ornamental articles of plastic from Canada soared to X tons, with an increase of 60% on the year before. Over the period under review, total exports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the exports hit record highs at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, plastic ornamental articles exports soared to $X in 2022. In general, total exports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +6.9% 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 +39.9% against 2020 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for plastic ornamental articles exports from Canada, accounting for a 90% share of total exports. Moreover, plastic ornamental articles exports to the United States exceeded the volume sent to the second major destination, Egypt (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to the United States totaled +5.1%.

In value terms, the United States ($X) remains the key foreign market for statuettes and other ornamental articles of plastic exports from Canada, comprising 90% of total exports. The second position in the ranking was taken by Egypt ($X), with a 7% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to +6.4%.

Export Prices by Country

In 2022, the average plastic ornamental articles export price amounted to $X per ton, shrinking by -15.4% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.3%. The growth pace was the most rapid in 2021 an increase of 24%. As a result, the export price reached the peak level of $X per ton, and then contracted rapidly in the following year.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Egypt stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Egypt (+3.1%).

Plastic Ornamental Articles Imports

Imports into Canada

In 2022, overseas purchases of statuettes and other ornamental articles of plastic increased by 41% to X tons, rising for the second year in a row after three years of decline. Over the period under review, imports saw a relatively flat trend pattern. Over the period under review, imports attained the peak figure at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, plastic ornamental articles imports skyrocketed to $X in 2022. Overall, total imports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +5.3% 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 +95.5% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X tons) constituted the largest plastic ornamental articles supplier to Canada, with a 82% share of total imports. Moreover, plastic ornamental articles imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), more than tenfold. The third position in this ranking was taken by Vietnam (X tons), with a 4.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-8.0% per year) and Vietnam (+22.5% per year).

In value terms, China ($X) constituted the largest supplier of statuettes and other ornamental articles of plastic to Canada, comprising 82% of total imports. The second position in the ranking was taken by the United States ($X), with a 6.5% share of total imports. It was followed by Vietnam, with a 4.1% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +5.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-3.5% per year) and Vietnam (+28.4% per year).

Import Prices by Country

In 2022, the average plastic ornamental articles import price amounted to $X per ton, with an increase of 6.7% against the previous year. Overall, import price indicated a notable increase from 2012 to 2022: its price 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, plastic ornamental articles import price increased by +61.0% against 2012 indices. The growth pace was the most rapid in 2021 when the average import price increased by 21% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the near future.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Vietnam ($X per ton) and the United States ($X per ton), while the price for China ($X per ton) and Taiwan (Chinese) ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+4.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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