Greece: Plastic Closure Market 2024

Plastic Closure Market Size in Greece

In 2022, the Greek plastic closure market increased by 10% to $X, rising for the second year in a row after two years of decline. Overall, consumption, however, continues to indicate a noticeable reduction. Over the period under review, the market attained the maximum level at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Plastic Closure Exports

Exports from Greece

In 2022, shipments abroad of plastic stoppers, caps and closures increased by 36% to X tons, rising for the third year in a row after two years of decline. Over the period under review, exports recorded a strong increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, plastic closure exports surged to $X in 2022. Overall, exports showed a remarkable increase. The most prominent rate of growth was recorded in 2021 with an increase of 31% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the near future.

Exports by Country

Cyprus (X tons), Romania (X tons) and Austria (X tons) were the main destinations of plastic closure exports from Greece, together accounting for 35% of total exports. Spain, the UK, Ireland, Italy, Bulgaria, Germany, Hungary, Belgium, France and Switzerland lagged somewhat behind, together comprising a further 49%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Ireland (with a CAGR of +304.1%), while the other leaders experienced more modest paces of growth.

In value terms, Romania ($X), Cyprus ($X) and Austria ($X) were the largest markets for plastic closure exported from Greece worldwide, together comprising 33% of total exports. Ireland, Italy, Spain, the UK, Germany, Bulgaria, Hungary, Belgium, France and Switzerland lagged somewhat behind, together comprising a further 49%.

In terms of the main countries of destination, Ireland, with a CAGR of +352.5%, saw 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

In 2022, the average plastic closure export price amounted to $X per ton, dropping by -3.9% against the previous year. In general, the export price saw a mild contraction. The pace of growth was the most pronounced in 2018 when the average export price increased by 40% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Switzerland ($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 Ireland (+12.0%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Closure Imports

Imports into Greece

In 2022, purchases abroad of plastic stoppers, caps and closures increased by 29% to X tons, rising for the second consecutive year after two years of decline. In general, total imports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of +5.3% 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 +81.8% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 41%. Over the period under review, imports attained the peak figure at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, plastic closure imports rose remarkably to $X in 2022. The total import value increased at an average annual rate of +4.7% 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 2013 with an increase of 18%. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the near future.

Imports by Country

Bulgaria (X tons), Italy (X tons) and Turkey (X tons) were the main suppliers of plastic closure imports to Greece, with a combined 62% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Bulgaria (with a CAGR of +30.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), Turkey ($X) and Germany ($X) constituted the largest plastic closure suppliers to Greece, with a combined 56% share of total imports. France, Bulgaria, Poland, Spain and the UK lagged somewhat behind, together comprising a further 25%.

Poland, with a CAGR of +22.2%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average plastic closure import price stood at $X per ton in 2022, reducing by -15.7% against the previous year. Overall, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the average import price increased by 20% against the previous year. The import price peaked at $X per ton in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+5.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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