EU: Market for Plastic or Non-Precious Metal Watches 2024

Market Size for Plastic or Non-Precious Metal Watches in the EU

In 2022, the EU market for plastic or non-precious metal watches increased by 12% to $X, rising for the second year in a row after six years of decline. Over the period under review, consumption, however, continues to indicate a pronounced setback. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Production of Plastic or Non-Precious Metal Watches in the EU

In value terms, plastic or non-precious metal watch production totaled $X in 2022 estimated in export price. Overall, production, however, recorded a noticeable downturn. The growth pace was the most rapid in 2020 with an increase of 85%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Exports of Plastic or Non-Precious Metal Watches

Exports in the EU

Plastic or non-precious metal watch exports shrank to X units in 2022, which is down by -13.1% compared with the previous year. The total export volume increased at an average annual rate of +1.3% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2015 with an increase of 11% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, plastic or non-precious metal watch exports contracted modestly to $X in 2022. The total export value increased at an average annual rate of +2.9% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when exports increased by 25% against the previous year. As a result, the exports reached the peak of $X, and then dropped modestly in the following year.

Exports by Country

In 2022, Germany (X units) was the main exporter of plastic or non-precious metal watches, achieving 34% of total exports. It was distantly followed by the Netherlands (X units), France (X units), Spain (X units), Belgium (X units) and Poland (X units), together mixing up a 44% share of total exports. Italy (X units), Austria (X units), the Czech Republic (X units), Portugal (X units), Denmark (X units), Slovakia (X units) and Sweden (X units) held a minor share of total exports.

From 2012 to 2022, average annual rates of growth with regard to plastic or non-precious metal watch exports from Germany stood at +7.6%. At the same time, Portugal (+15.5%), Slovakia (+13.1%), Poland (+9.4%), the Czech Republic (+8.3%), the Netherlands (+5.0%) and Denmark (+1.6%) displayed positive paces of growth. Moreover, Portugal emerged as the fastest-growing exporter exported in the European Union, with a CAGR of +15.5% from 2012-2022. By contrast, Austria (-1.2%), Sweden (-2.6%), Italy (-4.8%), Spain (-5.0%), France (-5.7%) and Belgium (-7.4%) illustrated a downward trend over the same period. Germany (+16 p.p.), the Netherlands (+4.9 p.p.) and Poland (+2.7 p.p.) significantly strengthened its position in terms of the total exports, while Italy, Spain, France and Belgium saw its share reduced by -3.1%, -6.9%, -8.6% and -9.5% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($X), France ($X) and the Netherlands ($X) were the countries with the highest levels of exports in 2022, together accounting for 65% of total exports. Italy, Spain, Austria, Poland, Belgium, the Czech Republic, Sweden, Portugal, Denmark and Slovakia lagged somewhat behind, together accounting for a further 27%.

In terms of the main exporting countries, Poland, with a CAGR of +26.4%, recorded 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

The export price in the European Union stood at $X per unit in 2022, surging by 13% against the previous year. Over the last decade, it increased at an average annual rate of +1.6%. The growth pace was the most rapid in 2021 when the export price increased by 13% against the previous year. The level of export peaked in 2022 and is likely to see gradual growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+15.5%), while the other leaders experienced more modest paces of growth.

Imports of Plastic or Non-Precious Metal Watches

Imports in the EU

Plastic or non-precious metal watch imports dropped to X units in 2022, with a decrease of -5.7% compared with the year before. Over the period under review, imports showed a noticeable decrease. The most prominent rate of growth was recorded in 2021 when imports increased by 11% against the previous year. Over the period under review, imports reached the peak figure at X units in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, plastic or non-precious metal watch imports totaled $X in 2022. The total import value increased at an average annual rate of +2.0% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 23%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, Germany (X units), distantly followed by the Netherlands (X units), France (X units), Spain (X units), Italy (X units) and Poland (X units) represented the major importers of plastic or non-precious metal watches, together committing 76% of total imports. Belgium (X units), Portugal (X units), Austria (X units), the Czech Republic (X units) and Sweden (X units) took a relatively small share of total imports.

Imports into Germany decreased at an average annual rate of -1.6% from 2012 to 2022. At the same time, Poland (+4.8%), the Netherlands (+2.5%), Portugal (+2.2%) and the Czech Republic (+2.0%) displayed positive paces of growth. Moreover, Poland emerged as the fastest-growing importer imported in the European Union, with a CAGR of +4.8% from 2012-2022. By contrast, Sweden (-4.9%), Austria (-5.8%), Italy (-6.1%), Spain (-6.2%), Belgium (-8.0%) and France (-8.7%) illustrated a downward trend over the same period. While the share of the Netherlands (+5.9 p.p.), Germany (+4.4 p.p.) and Poland (+2.9 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Belgium (-2.5 p.p.), Italy (-2.7 p.p.), Spain (-3.6 p.p.) and France (-8.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest plastic or non-precious metal watch importing markets in the European Union were France ($X), Germany ($X) and Italy ($X), together comprising 60% of total imports. The Netherlands, Spain, Austria, Poland, the Czech Republic, Belgium, Portugal and Sweden lagged somewhat behind, together accounting for a further 29%.

Poland, with a CAGR of +12.1%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in the European Union amounted to $X per unit, picking up by 14% against the previous year. Import price indicated a buoyant increase from 2012 to 2022: its price increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, plastic or non-precious metal watch import price increased by +65.4% against 2016 indices. The growth pace was the most rapid in 2020 when the import price increased by 16%. The level of import peaked in 2022 and is expected to retain growth in the near future.

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 France ($X per unit), while Belgium ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+11.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform