Peru: Plastic Closure Market 2024

Plastic Closure Market Size in Peru

The Peruvian plastic closure market stood at $X in 2022, approximately mirroring the previous year. The market value increased at an average annual rate of +4.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Plastic Closure Production in Peru

In value terms, plastic closure production totaled $X in 2022 estimated in export price. The total output value increased at an average annual rate of +4.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 when the production volume increased by 23%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Plastic Closure Exports

Exports from Peru

In 2022, the amount of plastic stoppers, caps and closures exported from Peru declined to X tons, with a decrease of -3.9% against 2021 figures. Over the period under review, exports saw a pronounced downturn. The most prominent rate of growth was recorded in 2021 with an increase of 8.4% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, plastic closure exports reduced to $X in 2022. In general, exports continue to indicate a noticeable setback. The most prominent rate of growth was recorded in 2021 when exports increased by 34% against the previous year. Over the period under review, the exports attained the maximum at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Bolivia (X tons) was the main destination for plastic closure exports from Peru, accounting for a 35% share of total exports. Moreover, plastic closure exports to Bolivia exceeded the volume sent to the second major destination, Chile (X tons), threefold. Colombia (X tons) ranked third in terms of total exports with an 8.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Bolivia stood at -1.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (+11.7% per year) and Colombia (-11.8% per year).

In value terms, Colombia ($X), Bolivia ($X) and the United States ($X) were the largest markets for plastic closure exported from Peru worldwide, together accounting for 59% of total exports. Chile, Mexico, Ecuador, Brazil, Argentina, Guatemala, Haiti, the Dominican Republic and El Salvador lagged somewhat behind, together comprising a further 37%.

Guatemala, with a CAGR of +65.1%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination 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, with a decrease of -9.1% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the average export price increased by 24%. Over the period under review, the average export prices attained the maximum at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Colombia ($X per ton), while the average price for exports to Argentina ($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 United States (+9.0%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Closure Imports

Imports into Peru

Plastic closure imports into Peru contracted to X tons in 2022, with a decrease of -10.3% against the previous year's figure. Overall, total imports indicated a notable increase from 2012 to 2022: its volume increased at an average annual rate of +3.3% 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 +13.0% against 2020 indices. The pace of growth was the most pronounced in 2019 with an increase of 36% against the previous year. As a result, imports reached the peak of X tons. From 2020 to 2022, the growth of imports failed to regain momentum.

In value terms, plastic closure imports declined to $X in 2022. Over the period under review, total imports indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +4.5% 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 +15.1% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 30%. As a result, imports attained the peak of $X, and then shrank in the following year.

Imports by Country

Mexico (X tons), China (X tons) and Colombia (X tons) were the main suppliers of plastic closure imports to Peru, with a combined 50% share of total imports. Ecuador, Brazil, Spain, the United States, Poland, Germany, Canada, Chile, Italy and the UK lagged somewhat behind, together comprising a further 43%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the UK (with a CAGR of +72.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Mexico ($X) and Colombia ($X) were the largest plastic closure suppliers to Peru, with a combined 50% share of total imports. Brazil, Germany, Spain, Ecuador, the United States, Italy, the UK, Poland, Chile and Canada lagged somewhat behind, together comprising a further 41%.

In terms of the main suppliers, the UK, with a CAGR of +58.3%, recorded the highest growth rate of 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

The average plastic closure import price stood at $X per ton in 2022, approximately mirroring the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.3%. The most prominent rate of growth was recorded in 2015 an increase of 17%. As a result, import price reached the peak level of $X per ton. From 2016 to 2022, the average 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 Italy ($X per ton), while the price for Ecuador ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+5.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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