CIS: Plastic Closure Market 2024

Plastic Closure Market Size in CIS

The CIS plastic closure market reduced to $X in 2022, approximately mirroring the previous year. The market value increased at an average annual rate of +4.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2019; afterwards, it flattened through to 2022.

Plastic Closure Production in CIS

In value terms, plastic closure production declined to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +4.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 with an increase of 26%. The level of production peaked at $X in 2019; afterwards, it flattened through to 2022.

Plastic Closure Exports

Exports in CIS

Plastic closure exports rose modestly to X tons in 2022, surging by 3.5% compared with 2021. The total export volume increased at an average annual rate of +2.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 with an increase of 13%. The volume of export peaked in 2022 and is likely to see gradual growth in years to come.

In value terms, plastic closure exports rose markedly to $X in 2022. Total exports indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +3.2% 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 +84.1% against 2015 indices. The most prominent rate of growth was recorded in 2021 with an increase of 18%. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Exports by Country

Belarus (X tons) and Russia (X tons) represented roughly 70% of total exports in 2022. Moldova (X tons) ranks next in terms of the total exports with a 16% share, followed by Kazakhstan (11%). Uzbekistan (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Uzbekistan (with a CAGR of +64.9%), while the other leaders experienced more modest paces of growth.

In value terms, Belarus ($X), Russia ($X) and Moldova ($X) constituted the countries with the highest levels of exports in 2022, together comprising 89% of total exports. Kazakhstan and Uzbekistan lagged somewhat behind, together comprising a further 11%.

Uzbekistan, with a CAGR of +67.3%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in the CIS stood at $X per ton in 2022, surging by 6.4% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.1%. The growth pace was the most rapid in 2013 when the export price increased by 15% against the previous year. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Belarus ($X per ton), while Kazakhstan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+4.1%), while the other leaders experienced more modest paces of growth.

Plastic Closure Imports

Imports in CIS

For the seventh year in a row, the CIS recorded growth in overseas purchases of plastic stoppers, caps and closures, which increased by 6.6% to X tons in 2022. Total imports indicated buoyant growth from 2012 to 2022: its volume increased at an average annual rate of +6.0% 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 +48.7% against 2015 indices. The most prominent rate of growth was recorded in 2013 with an increase of 34% against the previous year. The volume of import peaked in 2022 and is likely to see steady growth in the immediate term.

In value terms, plastic closure imports expanded slightly to $X in 2022. The total import value increased at an average annual rate of +4.6% 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 2013 when imports increased by 27%. Over the period under review, imports attained the maximum in 2022 and are likely to see steady growth in years to come.

Imports by Country

Russia was the major importing country with an import of around X tons, which recorded 56% of total imports. It was distantly followed by Kazakhstan (X tons), Belarus (X tons), Uzbekistan (X tons) and Armenia (X tons), together comprising a 32% share of total imports. The following importers - Azerbaijan (X tons) and Kyrgyzstan (X tons) - each accounted for an 8.4% share of total imports.

Imports into Russia increased at an average annual rate of +5.4% from 2012 to 2022. At the same time, Uzbekistan (+21.8%), Armenia (+16.3%), Kyrgyzstan (+9.7%), Belarus (+9.0%) and Azerbaijan (+2.1%) displayed positive paces of growth. Moreover, Uzbekistan emerged as the fastest-growing importer imported in the CIS, with a CAGR of +21.8% from 2012-2022. Kazakhstan experienced a relatively flat trend pattern. From 2012 to 2022, the share of Uzbekistan, Armenia and Belarus increased by +7.4, +2.7 and +2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) constitutes the largest market for imported plastic stoppers, caps and closures in the CIS, comprising 62% of total imports. The second position in the ranking was taken by Kazakhstan ($X), with a 12% share of total imports. It was followed by Belarus, with a 9.1% share.

From 2012 to 2022, the average annual growth rate of value in Russia amounted to +4.1%. In the other countries, the average annual rates were as follows: Kazakhstan (+0.7% per year) and Belarus (+7.3% per year).

Import Prices by Country

In 2022, the import price in the CIS amounted to $X per ton, which is down by -3.4% against the previous year. Overall, the import price saw a slight contraction. The pace of growth appeared the most rapid in 2021 an increase of 13% against the previous year. The level of import peaked 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 importing countries. In 2022, amid the top importers, the country with the highest price was Belarus ($X per ton), while Kyrgyzstan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Azerbaijan (+2.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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