Nepal: Plastic Closure Market 2024

Plastic Closure Market Size in Nepal

The Nepalese plastic closure market expanded significantly to $X in 2022, growing by 9.3% against the previous year. In general, the total consumption indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -7.8% against 2020 indices. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Plastic Closure Production in Nepal

In value terms, plastic closure production expanded notably to $X in 2022 estimated in export price. Over the period under review, the total production indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -7.9% against 2020 indices. The pace of growth was the most pronounced in 2020 with an increase of 46% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Plastic Closure Exports

Exports from Nepal

In 2022, the amount of plastic stoppers, caps and closures exported from Nepal reduced sharply to X tons, declining by -34.1% compared with 2021. Over the period under review, exports recorded a pronounced decrease. The pace of growth was the most pronounced in 2021 with an increase of 214%. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, plastic closure exports dropped rapidly to $X in 2022. In general, exports continue to indicate a perceptible descent. The pace of growth appeared the most rapid in 2021 with an increase of 96%. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

India (X tons) was the main destination for plastic closure exports from Nepal, with a approx. 99.9% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to India stood at -3.0%.

In value terms, India ($X) also remains the key foreign market for plastic stoppers, caps and closures exports from Nepal.

From 2012 to 2022, the average annual growth rate of value to India stood at -3.0%.

Export Prices by Country

In 2022, the average plastic closure export price amounted to $X per ton, rising by 15% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the average export price increased by 17% against the previous year. The export price peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for India.

From 2012 to 2022, the rate of growth in terms of prices for India amounted to -0.0% per year.

Plastic Closure Imports

Imports into Nepal

In 2022, supplies from abroad of plastic stoppers, caps and closures decreased by -11.2% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, imports, however, enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2016 with an increase of 77%. As a result, imports attained the peak of X tons. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, plastic closure imports shrank to $X in 2022. In general, imports, however, posted a buoyant expansion. The most prominent rate of growth was recorded in 2013 when imports increased by 89%. Over the period under review, imports attained the peak figure at $X in 2021, and then contracted in the following year.

Imports by Country

In 2022, India (X tons) constituted the largest supplier of plastic closure to Nepal, with a 64% share of total imports. Moreover, plastic closure imports from India exceeded the figures recorded by the second-largest supplier, Germany (X tons), eightfold. The third position in this ranking was taken by China (X tons), with a 5.9% share.

From 2012 to 2022, the average annual growth rate of volume from India stood at +6.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+110.5% per year) and China (+37.9% per year).

In value terms, India ($X) constituted the largest supplier of plastic stoppers, caps and closures to Nepal, comprising 57% of total imports. The second position in the ranking was held by Germany ($X), with a 9.1% share of total imports. It was followed by China, with an 8.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from India stood at +8.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+97.0% per year) and China (+40.7% per year).

Import Prices by Country

The average plastic closure import price stood at $X per ton in 2022, remaining stable against the previous year. Over the period under review, import price indicated notable growth from 2012 to 2022: its price increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, plastic closure import price decreased by -13.6% against 2019 indices. The pace of growth appeared the most rapid in 2018 when the average import price increased by 37%. The import price peaked at $X per ton in 2019; however, from 2020 to 2022, import prices remained at a 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 China ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+3.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform