Pakistan: Plastic Closure Market 2024

Plastic Closure Market Size in Pakistan

In 2022, the Pakistani plastic closure market increased by 49% to $X, rising for the second consecutive year after two years of decline. Overall, consumption recorded prominent growth. Plastic closure consumption peaked in 2022 and is likely to continue growth in the near future.

Plastic Closure Exports

Exports from Pakistan

In 2022, exports of plastic stoppers, caps and closures from Pakistan contracted remarkably to X tons, which is down by -27.4% on 2021 figures. Overall, exports, however, showed a measured increase. The most prominent rate of growth was recorded in 2014 with an increase of 166% against the previous year. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, plastic closure exports expanded significantly to $X in 2022. Over the period under review, exports, however, recorded a remarkable increase. The pace of growth was the most pronounced in 2016 when exports increased by 184%. As a result, the exports attained the peak of $X. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Afghanistan (X tons), the United Arab Emirates (X tons) and the UK (X tons) were the main destinations of plastic closure exports from Pakistan, with a combined 73% share of total exports. The United States, Australia, New Zealand, Qatar, the Philippines and South Africa lagged somewhat behind, together accounting for a further 24%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Australia (with a CAGR of +119.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for plastic closure exported from Pakistan were the United Arab Emirates ($X), Afghanistan ($X) and the UK ($X), with a combined 70% share of total exports. The United States, New Zealand, Australia, Qatar, South Africa and the Philippines lagged somewhat behind, together accounting for a further 27%.

In terms of the main countries of destination, Australia, with a CAGR of +147.5%, 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

The average plastic closure export price stood at $X per ton in 2022, increasing by 58% against the previous year. Over the period under review, the export price posted a prominent expansion. The most prominent rate of growth was recorded in 2021 when the average export price increased by 68% against the previous year. Over the period under review, the average export prices attained the maximum in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Afghanistan ($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 Thailand (+38.7%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Closure Imports

Imports into Pakistan

In 2022, purchases abroad of plastic stoppers, caps and closures increased by 72% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, total imports indicated a strong expansion from 2012 to 2022: its volume increased at an average annual rate of +7.1% 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 +103.4% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, plastic closure imports surged to $X in 2022. In general, total imports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +7.1% 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 +33.5% against 2020 indices. The pace of growth appeared the most rapid in 2014 with an increase of 33%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports by Country

The United Arab Emirates (X tons), France (X tons) and Turkey (X tons) were the main suppliers of plastic closure imports to Pakistan, with a combined 53% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by France (with a CAGR of +31.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest plastic closure suppliers to Pakistan were the United Arab Emirates ($X), China ($X) and France ($X), with a combined 48% share of total imports.

Among the main suppliers, France, with a CAGR of +32.2%, 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 average plastic closure import price amounted to $X per ton, declining by -29.6% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average import price increased by 21%. Over the period under review, average import prices hit record highs at $X per ton in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bahrain (+7.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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