MERCOSUR: Plastic Closure Market 2024

Plastic Closure Market Size in MERCOSUR

For the third year in a row, the MERCOSUR plastic closure market recorded growth in sales value, which increased by less than 0.1% to $X in 2022. The market value increased at an average annual rate of +2.1% from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being observed in certain years. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Plastic Closure Production in MERCOSUR

In value terms, plastic closure production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.1% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 9.3% against the previous year. The level of production peaked at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

Plastic Closure Exports

Exports in MERCOSUR

Plastic closure exports rose significantly to X tons in 2022, surging by 9.2% compared with 2021 figures. Overall, exports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when exports increased by 18%. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, plastic closure exports soared to $X in 2022. In general, exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of 22% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

In 2022, Brazil (X tons), distantly followed by Colombia (X tons), Argentina (X tons) and Peru (X tons) represented the key exporters of plastic stoppers, caps and closures, together comprising 88% of total exports. Ecuador (X tons), Chile (X tons) and Paraguay (X tons) took a little share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Brazil (with a CAGR of +6.2%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Brazil ($X), Colombia ($X) and Argentina ($X) constituted the countries with the highest levels of exports in 2022, with a combined 79% share of total exports.

Brazil, with a CAGR of +4.4%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in MERCOSUR stood at $X per ton in 2022, increasing by 6.1% against the previous year. Overall, the export price showed a relatively flat trend pattern. Over the period under review, the export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Chile ($X per ton), while Ecuador ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Chile (+3.2%), while the other leaders experienced more modest paces of growth.

Plastic Closure Imports

Imports in MERCOSUR

In 2022, the amount of plastic stoppers, caps and closures imported in MERCOSUR dropped to X tons, which is down by -1.6% against 2021. Over the period under review, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 15% against the previous year. Over the period under review, imports attained the maximum at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, plastic closure imports stood at $X in 2022. The total import value increased at an average annual rate of +1.4% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. The pace of growth was the most pronounced in 2021 when imports increased by 25% against the previous year. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Chile (X tons), Brazil (X tons), Colombia (X tons), Argentina (X tons) and Peru (X tons) represented the largest importer of plastic stoppers, caps and closures in MERCOSUR, comprising 84% of total import. It was distantly followed by Ecuador (X tons), comprising a 6% share of total imports. Paraguay (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Chile (with a CAGR of +10.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest plastic closure importing markets in MERCOSUR were Brazil ($X), Chile ($X) and Argentina ($X), together accounting for 62% of total imports.

Among the main importing countries, Chile, with a CAGR of +10.3%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in MERCOSUR amounted to $X per ton, with an increase of 5% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 8.9%. The level of import peaked in 2022 and is expected to retain growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Colombia (+3.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform