Italy: Plastic Closure Market 2024

Plastic Closure Market Size in Italy

The Italian plastic closure market expanded to $X in 2022, picking up by 4.5% against the previous year. Over the period under review, consumption, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 7.9%. Plastic closure consumption peaked at $X in 2015; afterwards, it flattened through to 2022.

Plastic Closure Production in Italy

In value terms, plastic closure production totaled $X in 2022 estimated in export price. In general, production, however, recorded a mild curtailment. The growth pace was the most rapid in 2018 when the production volume increased by 7.8% against the previous year. Plastic closure production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Plastic Closure Exports

Exports from Italy

In 2022, the amount of plastic stoppers, caps and closures exported from Italy expanded remarkably to X tons, with an increase of 5.6% against 2021. The total export volume increased at an average annual rate of +2.4% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2015 when exports increased by 9.5% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, plastic closure exports rose notably to $X in 2022. The total export value increased at an average annual rate of +2.3% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2018 with an increase of 15%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in years to come.

Exports by Country

France (X tons), Spain (X tons) and Germany (X tons) were the main destinations of plastic closure exports from Italy, with a combined 40% share of total exports. Poland, the UK, the United States, the Netherlands, Greece, Turkey, Hungary, Belgium, Switzerland and Mexico lagged somewhat behind, together comprising a further 33%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Mexico (with a CAGR of +15.7%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for plastic closure exported from Italy were France ($X), Germany ($X) and Spain ($X), with a combined 36% share of total exports. The United States, the UK, Poland, the Netherlands, Greece, Mexico, Switzerland, Turkey, Belgium and Hungary lagged somewhat behind, together accounting for a further 36%.

In terms of the main countries of destination, Mexico, with a CAGR of +15.2%, 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 average plastic closure export price stood at $X per ton in 2022, rising by 4.8% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 9.4%. 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 stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Hungary ($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 Switzerland (+2.8%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Closure Imports

Imports into Italy

Plastic closure imports into Italy skyrocketed to X tons in 2022, growing by 24% against 2021. Overall, total imports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of +9.7% 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 +40.2% against 2018 indices. The pace of growth appeared the most rapid in 2014 with an increase of 30% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

In value terms, plastic closure imports soared to $X in 2022. Over the period under review, total imports indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +6.3% 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 +34.9% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

France (X tons), Germany (X tons) and Hungary (X tons) were the main suppliers of plastic closure imports to Italy, together comprising 64% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Hungary (with a CAGR of +25.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, France ($X), Germany ($X) and China ($X) constituted the largest plastic closure suppliers to Italy, together comprising 54% of total imports.

China, with a CAGR of +21.6%, recorded the highest growth rate of 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, which is down by -3.3% against the previous year. Overall, the import price continues to indicate a perceptible decrease. The growth pace was the most rapid in 2016 when the average import price increased by 19% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 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 China ($X per ton), while the price for Hungary ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+4.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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