Europe: Plastic Closure Market 2024

Plastic Closure Market Size in Europe

In 2022, the Europe plastic closure market increased by 1.4% to $X, rising for the sixth year in a row after two years of decline. The market value increased at an average annual rate of +1.5% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. Over the period under review, the market attained the peak level in 2022 and is expected to retain growth in years to come.

Plastic Closure Production in Europe

In value terms, plastic closure production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.2% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 with an increase of 8.4% against the previous year. Over the period under review, production reached the maximum level at $X in 2020; afterwards, it flattened through to 2022.

Plastic Closure Exports

Exports in Europe

In 2022, overseas shipments of plastic stoppers, caps and closures decreased by -4.8% to X tons for the first time since 2019, thus ending a two-year rising trend. The total export volume increased at an average annual rate of +2.2% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2018 with an increase of 11% against the previous year. As a result, the exports reached the peak of X tons. From 2019 to 2022, the growth of the exports remained at a lower figure.

In value terms, plastic closure exports reduced slightly to $X in 2022. The total export value increased at an average annual rate of +3.0% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 15% against the previous year. As a result, the exports reached the peak of $X, and then fell modestly 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) and the Netherlands (X tons) were the largest exporters of plastic stoppers, caps and closures, together constituting 65% of total exports. The UK (X tons), Belgium (X tons), Austria (X tons), Switzerland (X tons), the Czech Republic (X tons) and Belarus (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to plastic closure exports from Germany stood at +1.0%. At the same time, Austria (+7.7%), the Czech Republic (+7.6%), Poland (+7.2%), Switzerland (+3.5%), Belgium (+2.8%), Belarus (+2.6%), Spain (+2.4%), Italy (+2.4%), France (+1.9%), the UK (+1.1%) and Hungary (+1.0%) displayed positive paces of growth. Moreover, Austria emerged as the fastest-growing exporter exported in Europe, with a CAGR of +7.7% from 2012-2022. By contrast, the Netherlands (-1.1%) illustrated a downward trend over the same period. Poland (+2.4 p.p.) and Austria (+1.5 p.p.) significantly strengthened its position in terms of the total exports, while the Netherlands and Germany saw its share reduced by -1.9% and -2.5% 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 Italy ($X) appeared to be the countries with the highest levels of exports in 2022, together accounting for 47% of total exports. Spain, Poland, the Netherlands, the UK, Belgium, Hungary, Switzerland, Austria, the Czech Republic and Belarus lagged somewhat behind, together accounting for a further 41%.

Poland, with a CAGR of +8.2%, 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 Europe stood at $X per ton in 2022, rising by 3.1% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the export price increased by 12%. The level of export peaked in 2022 and is likely to continue growth in the near future.

Prices varied noticeably by country of origin: 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 Europe

In 2022, the amount of plastic stoppers, caps and closures imported in Europe stood at X tons, surging by 3% compared with the previous year's figure. The total import volume increased at an average annual rate of +3.5% 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 2014 with an increase of 10% against the previous year. The volume of import peaked in 2022 and is expected to retain growth in years to come.

In value terms, plastic closure imports reached $X in 2022. The total import value increased at an average annual rate of +3.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when imports increased by 16% against the previous year. The level of import peaked in 2022 and is 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. It was distantly followed by the UK (X tons), Poland (X tons) and Belgium (X tons), together committing a 15% share of total imports. Russia (X tons), Sweden (X tons), Ireland (X tons), Austria (X tons) and Hungary (X tons) took a relatively small share of total imports.

From 2012 to 2022, the biggest increases were recorded for Italy (with a CAGR of +9.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest plastic closure importing markets in Europe were France ($X), Germany ($X) and Italy ($X), together comprising 36% of total imports. The UK, Spain, the Netherlands, Poland, Belgium, Russia, Austria, Sweden, Hungary and Ireland lagged somewhat behind, together comprising a further 45%.

In terms of the main importing countries, Spain, with a CAGR of +7.5%, recorded the highest growth rate of 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

The import price in Europe stood at $X per ton in 2022, declining by -1.9% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 9.6%. The level of import peaked at $X per ton in 2013; however, from 2014 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 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 the UK (+4.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform