New Zealand: Plastic Closure Market 2024

Plastic Closure Market Size in New Zealand

After two years of growth, the New Zealand plastic closure market decreased by -7.8% to $X in 2022. Overall, the total consumption indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +98.1% against 2015 indices. As a result, consumption attained the peak level of $X, and then declined in the following year.

Plastic Closure Exports

Exports from New Zealand

In 2022, approx. X tons of plastic stoppers, caps and closures were exported from New Zealand; surging by 13% on 2021. In general, total exports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of +7.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +37.6% against 2020 indices. The most prominent rate of growth was recorded in 2013 when exports increased by 24%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, plastic closure exports soared to $X in 2022. The total export value increased at an average annual rate of +3.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when exports increased by 31%. The exports peaked in 2022 and are likely to continue growth in years to come.

Exports by Country

Australia (X tons) was the main destination for plastic closure exports from New Zealand, with a 65% share of total exports. Moreover, plastic closure exports to Australia exceeded the volume sent to the second major destination, the United States (X tons), sixfold. The third position in this ranking was taken by Fiji (X tons), with a 9.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Australia stood at +5.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+12.6% per year) and Fiji (+14.3% per year).

In value terms, Australia ($X) remains the key foreign market for plastic stoppers, caps and closures exports from New Zealand, comprising 65% of total exports. The second position in the ranking was taken by the United States ($X), with a 10% share of total exports. It was followed by Fiji, with a 9.9% share.

From 2012 to 2022, the average annual growth rate of value to Australia stood at +1.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+10.7% per year) and Fiji (+12.5% per year).

Export Prices by Country

In 2022, the average plastic closure export price amounted to $X per ton, growing by 11% against the previous year. In general, the export price, however, saw a perceptible descent. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Australia ($X per ton) and the United States ($X per ton), while the average price for exports to Thailand ($X per ton) and the UK ($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 Fiji (-1.6%), while the prices for the other major destinations experienced a decline.

Plastic Closure Imports

Imports into New Zealand

In 2022, approx. X tons of plastic stoppers, caps and closures were imported into New Zealand; waning by -13.6% against the year before. In general, total imports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of +5.3% 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 +14.5% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 33%. As a result, imports reached the peak of X tons, and then declined in the following year.

In value terms, plastic closure imports expanded to $X in 2022. Over the period under review, total imports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +6.8% 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 +38.0% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 34%. Imports peaked in 2022 and are likely to continue growth in the near future.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of plastic closure to New Zealand, with a 41% share of total imports. Moreover, plastic closure imports from China exceeded the figures recorded by the second-largest supplier, Australia (X tons), twofold. Italy (X tons) ranked third in terms of total imports with a 6.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +20.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (-5.7% per year) and Italy (+31.6% per year).

In value terms, China ($X) constituted the largest supplier of plastic stoppers, caps and closures to New Zealand, comprising 42% of total imports. The second position in the ranking was taken by Australia ($X), with a 19% share of total imports. It was followed by Italy, with a 6.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +22.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (-3.3% per year) and Italy (+34.0% per year).

Import Prices by Country

The average plastic closure import price stood at $X per ton in 2022, growing by 19% against the previous year. Over the last decade, it increased at an average annual rate of +1.4%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Malaysia ($X per ton) and Australia ($X per ton), while the price for Italy ($X per ton) and Taiwan (Chinese) ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+2.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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