Japan: Plastic Closure Market 2024

Plastic Closure Market Size in Japan

The Japanese plastic closure market reached $X in 2022, remaining constant against the previous year. The market value increased at an average annual rate of +2.1% from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Plastic Closure Production in Japan

In value terms, plastic closure production contracted slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.1% over the period from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2014 with an increase of 17% against the previous year. Plastic closure production peaked at $X in 2015; however, from 2016 to 2022, production failed to regain momentum.

Plastic Closure Exports

Exports from Japan

In 2022, after seven years of growth, there was significant decline in overseas shipments of plastic stoppers, caps and closures, when their volume decreased by -14.5% to X tons. In general, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when exports increased by 12%. Over the period under review, the exports attained the peak figure at X tons in 2021, and then reduced in the following year.

In value terms, plastic closure exports dropped rapidly to $X in 2022. Overall, exports continue to indicate a slight decrease. The most prominent rate of growth was recorded in 2016 when exports increased by 8.9% against the previous year. The exports peaked at $X in 2021, and then reduced remarkably in the following year.

Exports by Country

The United States (X tons), China (X tons) and Thailand (X tons) were the main destinations of plastic closure exports from Japan, with a combined 53% share of total exports. Vietnam, Hong Kong SAR, South Korea, Taiwan (Chinese), Singapore, Malaysia, France, Indonesia, the Philippines and Mexico lagged somewhat behind, together comprising a further 38%.

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 +34.9%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), China ($X) and Thailand ($X) constituted the largest markets for plastic closure exported from Japan worldwide, with a combined 56% share of total exports. Vietnam, South Korea, Taiwan (Chinese), France, Hong Kong SAR, Singapore, Mexico, Indonesia, Malaysia and the Philippines lagged somewhat behind, together comprising a further 34%.

Mexico, with a CAGR of +24.3%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination 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, falling by -3.3% against the previous year. Over the period under review, the export price continues to indicate a mild curtailment. The pace of growth appeared the most rapid in 2016 when the average export price increased by 7.8% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Hong Kong SAR ($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 Indonesia (+5.4%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Closure Imports

Imports into Japan

In 2022, approx. X tons of plastic stoppers, caps and closures were imported into Japan; with an increase of 7.2% compared with the previous year's figure. Over the period under review, total imports indicated a buoyant expansion from 2012 to 2022: its volume increased at an average annual rate of +5.6% 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 +8.8% against 2020 indices. The most prominent rate of growth was recorded in 2016 with an increase of 16%. Imports peaked at X tons in 2019; afterwards, it flattened through to 2022.

In value terms, plastic closure imports rose slightly to $X in 2022. Overall, total imports indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +4.6% 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 +13.0% against 2020 indices. The growth pace was the most rapid in 2018 with an increase of 16%. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of plastic closure to Japan, accounting for a 67% share of total imports. Moreover, plastic closure imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X tons), sixfold. South Korea (X tons) ranked third in terms of total imports with a 6.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +3.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+24.6% per year) and South Korea (+12.0% per year).

In value terms, China ($X) constituted the largest supplier of plastic stoppers, caps and closures to Japan, comprising 56% of total imports. The second position in the ranking was taken by Thailand ($X), with a 12% share of total imports. It was followed by South Korea, with a 7.3% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to +2.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+18.2% per year) and South Korea (+8.1% per year).

Import Prices by Country

In 2022, the average plastic closure import price amounted to $X per ton, with a decrease of -2.5% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the average import price increased by 6.6%. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+9.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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