EU: Plastic Closure Market 2024

Plastic Closure Market Size in the EU

In 2022, the EU plastic closure market increased by 2.1% to $X, rising for the fifth year in a row after two years of decline. In general, consumption saw a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

Plastic Closure Production in the EU

In value terms, plastic closure production stood at $X in 2022 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the production volume increased by 5.2%. Over the period under review, production attained the peak level at $X in 2015; however, from 2016 to 2022, production stood at a somewhat lower figure.

Plastic Closure Exports

Exports in the EU

After two years of growth, overseas shipments of plastic stoppers, caps and closures decreased by -3.9% to X tons in 2022. The total export volume increased at an average annual rate of +2.2% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when exports increased by 12%. As a result, the exports reached the peak of X tons. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, plastic closure exports shrank modestly to $X in 2022. The total export value increased at an average annual rate of +3.1% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when exports increased by 15%. As a result, the exports attained the peak of $X, and then contracted in the following year.

Exports by Country

In 2022, Germany (X tons), distantly followed by France (X tons), Italy (X tons), Spain (X tons), Poland (X tons), Hungary (X tons), the Netherlands (X tons) and Belgium (X tons) represented the major exporters of plastic stoppers, caps and closures, together mixing up 80% of total exports.

Exports from Germany increased at an average annual rate of +1.0% from 2012 to 2022. At the same time, Poland (+7.2%), Belgium (+2.8%), Spain (+2.4%), Italy (+2.4%), France (+1.9%) and Hungary (+1.0%) displayed positive paces of growth. Moreover, Poland emerged as the fastest-growing exporter exported in the European Union, with a CAGR of +7.2% from 2012-2022. By contrast, the Netherlands (-1.1%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Poland increased by +2.8 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest plastic closure supplying countries in the European Union were Germany ($X), France ($X) and Italy ($X), together accounting for 54% of total exports. Spain, Poland, the Netherlands, Belgium and Hungary lagged somewhat behind, together comprising a further 30%.

Poland, with a CAGR of +8.2%, saw the highest rates of growth with regard to 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 European Union stood at $X per ton in 2022, picking up by 2.2% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the export price increased by 14% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was France ($X per ton), while Hungary ($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 Netherlands (+5.2%), while the other leaders experienced more modest paces of growth.

Plastic Closure Imports

Imports in the EU

For the third year in a row, the European Union recorded growth in supplies from abroad of plastic stoppers, caps and closures, which increased by 6.2% to X tons in 2022. The total import volume increased at an average annual rate of +4.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2014 when imports increased by 12% against the previous year. The volume of import peaked in 2022 and is likely to see gradual growth in the near future.

In value terms, plastic closure imports expanded modestly to $X in 2022. The total import value increased at an average annual rate of +4.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when imports increased by 17% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in years to come.

Imports by Country

The purchases of the five major importers of plastic stoppers, caps and closures, namely Spain, Germany, the Netherlands, France and Italy, represented more than half of total import. Poland (X tons) took a 6% share (based on physical terms) of total imports, which put it in second place, followed by Belgium (5.9%). The following importers - Sweden (X tons), Ireland (X tons), Austria (X tons), Hungary (X tons), the Czech Republic (X tons) and Greece (X tons) - together made up 15% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Italy (with a CAGR of +9.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest plastic closure importing markets in the European Union were France ($X), Germany ($X) and Italy ($X), with a combined 44% share of total imports. Spain, the Netherlands, Poland, Belgium, Austria, Sweden, the Czech Republic, Hungary, Ireland and Greece lagged somewhat behind, together accounting for a further 45%.

Among the main importing countries, Spain, with a CAGR of +7.5%, recorded the highest rates of growth with regard to the value of imports, 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 ton, with a decrease of -4.3% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the import price increased by 11% against the previous year. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was France ($X per ton), while Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+3.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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