Jordan: Plastic Closure Market 2024

Plastic Closure Market Size in Jordan

The Jordanian plastic closure market reached $X in 2022, surging by 1.7% against the previous year. Over the period under review, consumption, however, posted a buoyant increase. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Plastic Closure Production in Jordan

In value terms, plastic closure production reached $X in 2022 estimated in export price. Overall, production, however, enjoyed resilient growth. The pace of growth appeared the most rapid in 2014 with an increase of 51%. Plastic closure production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Plastic Closure Exports

Exports from Jordan

In 2022, shipments abroad of plastic stoppers, caps and closures decreased by -4.8% to X tons, falling for the third consecutive year after three years of growth. Overall, exports recorded a deep setback. The growth pace was the most rapid in 2014 when exports increased by 339% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, plastic closure exports expanded sharply to $X in 2022. In general, exports showed a slight setback. The pace of growth appeared the most rapid in 2014 when exports increased by 342%. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Qatar (X tons), Iraq (X tons) and Syrian Arab Republic (X tons) were the main destinations of plastic closure exports from Jordan, with a combined 64% share of total exports. Palestine, Saudi Arabia, Egypt and Lebanon lagged somewhat behind, together accounting for a further 31%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Lebanon (with a CAGR of +44.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for plastic closure exported from Jordan were Qatar ($X), Iraq ($X) and Syrian Arab Republic ($X), together comprising 64% of total exports.

Qatar, with a CAGR of +50.8%, saw the highest rates of growth with regard to the value of exports, among 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

In 2022, the average plastic closure export price amounted to $X per ton, growing by 11% against the previous year. Overall, the export price enjoyed a strong increase. The most prominent rate of growth was recorded in 2020 when the average export price increased by 64% against the previous year. Over the period under review, the average export prices reached the maximum in 2022 and is likely to see steady 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 Iraq ($X per ton) and Lebanon ($X per ton), while the average price for exports to Qatar ($X per ton) and Syrian Arab Republic ($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 Saudi Arabia (+11.0%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Closure Imports

Imports into Jordan

For the fourth consecutive year, Jordan recorded decline in purchases abroad of plastic stoppers, caps and closures, which decreased by -34.4% to X tons in 2022. In general, imports showed a deep setback. The pace of growth appeared the most rapid in 2014 with an increase of 11% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, plastic closure imports shrank rapidly to $X in 2022. Over the period under review, imports continue to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2018 when imports increased by 20%. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Turkey (X tons), Saudi Arabia (X tons) and China (X tons) were the main suppliers of plastic closure imports to Jordan, with a combined 42% share of total imports. France, the United Arab Emirates, Italy, Bahrain, Germany and the United States lagged somewhat behind, together comprising a further 42%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +5.9%), while imports for the other leaders experienced a decline.

In value terms, the largest plastic closure suppliers to Jordan were Turkey ($X), Saudi Arabia ($X) and China ($X), with a combined 42% share of total imports. France, the United Arab Emirates, Italy, Bahrain, Germany and the United States lagged somewhat behind, together comprising a further 42%.

Italy, with a CAGR of +4.7%, 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 a decline.

Import Prices by Country

In 2022, the average plastic closure import price amounted to $X per ton, surging by 12% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.8%. The pace of growth was the most pronounced in 2020 an increase of 19% against the previous year. Over the period under review, average import prices reached the maximum in 2022 and is likely to see gradual growth in the near future.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were the United Arab Emirates ($X per ton) and the United States ($X per ton), while the price for Italy ($X per ton) and France ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+10.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform