Ethiopia: Plastic Closure Market 2024

Plastic Closure Market Size in Ethiopia

In 2022, the Ethiopian plastic closure market decreased by -0.1% to $X, falling for the third year in a row after two years of growth. In general, consumption, however, recorded strong growth. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

Plastic Closure Exports

Exports from Ethiopia

Plastic closure exports from Ethiopia reduced markedly to X kg in 2022, which is down by -21.8% compared with 2021 figures. In general, exports faced a dramatic descent. The most prominent rate of growth was recorded in 2015 when exports increased by 752% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, plastic closure exports contracted notably to $X in 2022. Over the period under review, exports continue to indicate a precipitous curtailment. The most prominent rate of growth was recorded in 2015 with an increase of 814%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Hong Kong SAR (X kg), Yemen (X kg) and India (X kg) were the main destinations of plastic closure exports from Ethiopia, together comprising 83% of total exports. Thailand, the Netherlands and Tanzania lagged somewhat behind, together comprising a further 16%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Netherlands (with a CAGR of +19.6%), while the other leaders experienced mixed trend patterns.

In value terms, the largest markets for plastic closure exported from Ethiopia were Thailand ($X), Hong Kong SAR ($X) and Yemen ($X), together accounting for 84% of total exports. India, the Netherlands and Tanzania lagged somewhat behind, together comprising a further 15%.

Among the main countries of destination, the Netherlands, with a CAGR of +1.6%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average plastic closure export price stood at $X per ton in 2022, approximately mirroring the previous year. Overall, the export price continues to indicate a mild reduction. The most prominent rate of growth was recorded in 2019 when the average export price increased by 71% against the previous year. The export price peaked at $X per ton in 2015; however, from 2016 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 Thailand ($X per ton), while the average price for exports to Tanzania ($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 Somalia (+39.0%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Closure Imports

Imports into Ethiopia

In 2022, purchases abroad of plastic stoppers, caps and closures decreased by -4.6% to X tons, falling for the third consecutive year after three years of growth. In general, imports, however, enjoyed a prominent increase. The growth pace was the most rapid in 2014 with an increase of 297% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2022, the growth of imports failed to regain momentum.

In value terms, plastic closure imports reached $X in 2022. Overall, imports, however, enjoyed a prominent expansion. The growth pace was the most rapid in 2014 with an increase of 271%. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of plastic closure to Ethiopia, accounting for a 39% share of total imports. Moreover, plastic closure imports from China exceeded the figures recorded by the second-largest supplier, Kenya (X tons), twofold. The third position in this ranking was taken by India (X tons), with a 14% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +20.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Kenya (+52.5% per year) and India (+6.6% per year).

In value terms, China ($X) constituted the largest supplier of plastic stoppers, caps and closures to Ethiopia, comprising 46% of total imports. The second position in the ranking was held by Kenya ($X), with a 15% share of total imports. It was followed by India, with a 10% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to +23.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Kenya (+52.3% per year) and India (+4.3% per year).

Import Prices by Country

The average plastic closure import price stood at $X per ton in 2022, growing by 5.3% against the previous year. Overall, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of 8.4% against the previous year. The import price peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per ton), while the price for Tunisia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+2.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform