SADC: Plastic Closure Market 2024

Plastic Closure Market Size in SADC

The SADC plastic closure market was estimated at $X in 2022, surging by 2.7% against the previous year. The market value increased at an average annual rate of +3.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2020; afterwards, it flattened through to 2022.

Plastic Closure Production in SADC

In value terms, plastic closure production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.0% from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The growth pace was the most rapid in 2013 when the production volume increased by 16% against the previous year. Over the period under review, production reached the maximum level at $X in 2020; afterwards, it flattened through to 2022.

Plastic Closure Exports

Exports in SADC

In 2022, the amount of plastic stoppers, caps and closures exported in SADC fell modestly to X tons, stabilizing at the year before. The total export volume increased at an average annual rate of +2.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 with an increase of 40% against the previous year. As a result, the exports reached the peak of X tons. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, plastic closure exports declined to $X in 2022. The total export value increased at an average annual rate of +2.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 39% against the previous year. As a result, the exports attained the peak of $X, and then shrank in the following year.

Exports by Country

South Africa prevails in exports structure, accounting for X tons, which was near 80% of total exports in 2022. Botswana (X tons) ranks second in terms of the total exports with an 8.2% share, followed by Mauritius (5%). Tanzania (X tons) followed a long way behind the leaders.

South Africa experienced a relatively flat trend pattern with regard to volume of exports of plastic stoppers, caps and closures. At the same time, Botswana (+84.1%), Mauritius (+32.1%) and Tanzania (+17.4%) displayed positive paces of growth. Moreover, Botswana emerged as the fastest-growing exporter exported in SADC, with a CAGR of +84.1% from 2012-2022. While the share of Botswana (+8.2 p.p.), Mauritius (+4.6 p.p.) and Tanzania (+2.3 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of South Africa (-14.3 p.p.) displayed negative dynamics.

In value terms, South Africa ($X) remains the largest plastic closure supplier in SADC, comprising 86% of total exports. The second position in the ranking was taken by Mauritius ($X), with a 4.9% share of total exports. It was followed by Botswana, with a 4% share.

From 2012 to 2022, the average annual rate of growth in terms of value in South Africa stood at +1.1%. The remaining exporting countries recorded the following average annual rates of exports growth: Mauritius (+24.4% per year) and Botswana (+71.5% per year).

Export Prices by Country

In 2022, the export price in SADC amounted to $X per ton, reducing by -9.4% against the previous year. Overall, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the export price increased by 22% against the previous year. As a result, the export price reached the peak level of $X per ton, and then contracted in the following year.

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 South Africa ($X per ton), while Botswana ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Tanzania (+2.0%), while the other leaders experienced mixed trends in the export price figures.

Plastic Closure Imports

Imports in SADC

In 2022, plastic closure imports in SADC shrank modestly to X tons, leveling off at the year before. Total imports indicated buoyant growth from 2012 to 2022: its volume increased at an average annual rate of +5.5% 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 +7.2% against 2020 indices. The most prominent rate of growth was recorded in 2016 with an increase of 33%. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, plastic closure imports expanded to $X in 2022. The total import value increased at an average annual rate of +4.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 when imports increased by 28%. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

South Africa represented the largest importer of plastic stoppers, caps and closures in SADC, with the volume of imports finishing at X tons, which was near 39% of total imports in 2022. Angola (X tons) ranks second in terms of the total imports with a 12% share, followed by Zimbabwe (11%), Mozambique (7.1%), Tanzania (6.2%) and Zambia (6%). Namibia (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to plastic closure imports into South Africa stood at +6.1%. At the same time, Zimbabwe (+10.6%), Tanzania (+7.7%), Mozambique (+7.2%), Zambia (+4.3%), Angola (+3.5%) and Namibia (+1.9%) displayed positive paces of growth. Moreover, Zimbabwe emerged as the fastest-growing importer imported in SADC, with a CAGR of +10.6% from 2012-2022. While the share of Zimbabwe (+4.2 p.p.) and South Africa (+2 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Angola (-2.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) constitutes the largest market for imported plastic stoppers, caps and closures in SADC, comprising 51% of total imports. The second position in the ranking was taken by Zimbabwe ($X), with an 11% share of total imports. It was followed by Tanzania, with a 6.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value in South Africa amounted to +5.5%. In the other countries, the average annual rates were as follows: Zimbabwe (+11.2% per year) and Tanzania (+11.7% per year).

Import Prices by Country

In 2022, the import price in SADC amounted to $X per ton, with an increase of 5.8% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the import price increased by 13%. Over the period under review, import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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 South Africa ($X per ton), while Angola ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Tanzania (+3.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform