Israel: Plastic Closure Market 2024

Plastic Closure Market Size in Israel

In 2022, the Israeli plastic closure market decreased by -20.1% to $X for the first time since 2019, thus ending a two-year rising trend. Over the period under review, consumption showed a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Plastic Closure Exports

Exports from Israel

In 2022, plastic closure exports from Israel soared to X tons, growing by 21% compared with the previous year's figure. In general, exports continue to indicate a buoyant increase. The growth pace was the most rapid in 2017 when exports increased by 93%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the near future.

In value terms, plastic closure exports skyrocketed to $X in 2022. Overall, exports enjoyed a strong increase. The pace of growth was the most pronounced in 2017 when exports increased by 94%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

Exports by Country

The United States (X tons) was the main destination for plastic closure exports from Israel, accounting for a 30% share of total exports. Moreover, plastic closure exports to the United States exceeded the volume sent to the second major destination, Peru (X tons), threefold. The third position in this ranking was taken by the Netherlands (X tons), with a 6.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States amounted to +14.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Peru (+154.3% per year) and the Netherlands (+46.4% per year).

In value terms, the United States ($X) remains the key foreign market for plastic stoppers, caps and closures exports from Israel, comprising 30% of total exports. The second position in the ranking was taken by Peru ($X), with an 11% share of total exports. It was followed by the Netherlands, with a 6.7% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled +15.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Peru (+157.5% per year) and the Netherlands (+48.0% per year).

Export Prices by Country

The average plastic closure export price stood at $X per ton in 2022, growing by 4.6% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.1%. The growth pace was the most rapid in 2020 when the average export price increased by 12%. The export price peaked in 2022 and is expected to retain growth in the immediate term.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Guatemala ($X per ton) and Australia ($X per ton), while the average price for exports to Germany ($X per ton) and Italy ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Peru (+1.2%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Closure Imports

Imports into Israel

In 2022, purchases abroad of plastic stoppers, caps and closures increased by 1.5% to X tons, rising for the third year in a row after two years of decline. The total import volume increased at an average annual rate of +3.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 with an increase of 20%. Imports peaked in 2022 and are likely to continue growth in the near future.

In value terms, plastic closure imports amounted to $X in 2022. Overall, total imports indicated prominent growth from 2012 to 2022: its value 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 +80.7% against 2013 indices. The most prominent rate of growth was recorded in 2021 with an increase of 24% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in years to come.

Imports by Country

The United States (X tons), Turkey (X tons) and China (X tons) were the main suppliers of plastic closure imports to Israel, together accounting for 46% of total imports. Germany, Spain, Italy, France, Belgium, Hungary, Switzerland, the UK, Ukraine and Canada lagged somewhat behind, together comprising a further 43%.

From 2012 to 2022, the biggest increases were recorded for Ukraine (with a CAGR of +65.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest plastic closure suppliers to Israel were the United States ($X), Turkey ($X) and China ($X), together accounting for 46% of total imports. Germany, Spain, Italy, France, Belgium, Hungary, Switzerland, the UK, Ukraine and Canada lagged somewhat behind, together accounting for a further 43%.

Ukraine, with a CAGR of +68.5%, saw the highest rates of growth with regard to the value of imports, among 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, with an increase of 11% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.8%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Ukraine ($X per ton) and the United States ($X per ton), while the price for Hungary ($X per ton) and the UK ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ukraine (+1.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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