Luxembourg: Plastic Closure Market 2024

Plastic Closure Market Size in Luxembourg

For the seventh year in a row, the Luxembourg plastic closure market recorded growth in sales value, which increased by 11% to $X in 2022. Over the period under review, consumption continues to indicate a buoyant increase. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the immediate term.

Plastic Closure Production in Luxembourg

In value terms, plastic closure production reduced modestly to $X in 2022 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the production volume increased by 50%. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Plastic Closure Exports

Exports from Luxembourg

In 2022, shipments abroad of plastic stoppers, caps and closures decreased by -7.7% to X tons, falling for the fifth consecutive year after two years of growth. Overall, exports showed a pronounced slump. The pace of growth was the most pronounced in 2016 with an increase of 13%. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, plastic closure exports shrank to $X in 2022. Over the period under review, exports recorded a pronounced downturn. The pace of growth appeared the most rapid in 2016 with an increase of 13%. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

France (X tons), Belgium (X tons) and Germany (X tons) were the main destinations of plastic closure exports from Luxembourg, together comprising 74% of total exports. The UK, the Netherlands, Libya, Spain, Switzerland, the Czech Republic and Ireland lagged somewhat behind, together accounting for a further 19%.

From 2012 to 2022, the biggest increases were recorded for Ireland (with a CAGR of +29.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for plastic closure exported from Luxembourg were France ($X), Belgium ($X) and Germany ($X), together accounting for 71% of total exports. The UK, the Netherlands, Switzerland, Spain, Libya, the Czech Republic and Ireland lagged somewhat behind, together accounting for a further 20%.

Among the main countries of destination, Ireland, with a CAGR of +27.1%, saw the highest rates of growth with regard to 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, growing by 4.8% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.9%. The pace of growth was the most pronounced in 2020 an increase of 16% against the previous year. The export price peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Switzerland ($X per ton), while the average price for exports to France ($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 the Netherlands (+4.9%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Closure Imports

Imports into Luxembourg

Plastic closure imports into Luxembourg skyrocketed to X tons in 2022, jumping by 16% compared with the year before. Overall, total imports indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of +7.7% 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 +18.0% against 2019 indices. The most prominent rate of growth was recorded in 2013 with an increase of 82% against the previous year. Over the period under review, imports reached the maximum at X tons in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, plastic closure imports dropped to $X in 2022. Over the period under review, total imports indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -28.3% against 2019 indices. The pace of growth was the most pronounced in 2013 when imports increased by 52% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

Germany (X tons), France (X tons) and Spain (X tons) were the main suppliers of plastic closure imports to Luxembourg, with a combined 79% share of total imports. Belgium, Italy and Poland lagged somewhat behind, together accounting for a further 15%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Belgium (with a CAGR of +17.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of plastic stoppers, caps and closures to Luxembourg, comprising 44% of total imports. The second position in the ranking was taken by France ($X), with a 19% share of total imports. It was followed by Spain, with an 8.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany amounted to +10.5%. The remaining supplying countries recorded the following average annual rates of imports growth: France (-0.2% per year) and Spain (+5.3% per year).

Import Prices by Country

The average plastic closure import price stood at $X per ton in 2022, which is down by -17.6% against the previous year. Overall, the import price showed a perceptible slump. The pace of growth was the most pronounced in 2019 an increase of 51% against the previous year. As a result, import price reached the peak level of $X per ton. From 2020 to 2022, the average import prices remained 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 Italy ($X per ton), while the price for France ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+0.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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