Scandinavia: Plastic Closure Market 2024

Plastic Closure Market Size in Scandinavia

The Scandinavia plastic closure market rose notably to $X in 2022, growing by 13% against the previous year. The market value increased at an average annual rate of +2.1% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Plastic Closure Production in Scandinavia

In value terms, plastic closure production fell to $X in 2022 estimated in export price. Overall, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 18%. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

Plastic Closure Exports

Exports in Scandinavia

In 2022, after two years of growth, there was significant decline in overseas shipments of plastic stoppers, caps and closures, when their volume decreased by -23.9% to X tons. Overall, exports recorded a slight curtailment. The growth pace was the most rapid in 2021 when exports increased by 32% against the previous year. As a result, the exports reached the peak of X tons, and then declined rapidly in the following year.

In value terms, plastic closure exports dropped markedly to $X in 2022. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when exports increased by 34%. As a result, the exports reached the peak of $X, and then shrank notably in the following year.

Exports by Country

Sweden was the major exporting country with an export of about X tons, which reached 81% of total exports. Norway (X tons) ranks second in terms of the total exports with an 11% share, followed by Finland (8.2%).

Exports from Sweden decreased at an average annual rate of -2.5% from 2012 to 2022. At the same time, Norway (+9.6%) displayed positive paces of growth. Moreover, Norway emerged as the fastest-growing exporter exported in Scandinavia, with a CAGR of +9.6% from 2012-2022. Finland experienced a relatively flat trend pattern. Norway (+7 p.p.) significantly strengthened its position in terms of the total exports, while Sweden saw its share reduced by -8.3% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Sweden ($X) remains the largest plastic closure supplier in Scandinavia, comprising 82% of total exports. The second position in the ranking was held by Finland ($X), with an 11% share of total exports.

In Sweden, plastic closure exports remained relatively stable over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Finland (+1.2% per year) and Norway (+6.5% per year).

Export Prices by Country

The export price in Scandinavia stood at $X per ton in 2022, with an increase of 7.9% against the previous year. Over the last decade, it increased at an average annual rate of +2.0%. The most prominent rate of growth was recorded in 2013 an increase of 11%. Over the period under review, the export prices hit record highs in 2022 and is expected to retain growth in the near future.

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 Finland ($X per ton), while Norway ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+2.6%), while the other leaders experienced mixed trends in the export price figures.

Plastic Closure Imports

Imports in Scandinavia

In 2022, purchases abroad of plastic stoppers, caps and closures increased by 25% to X tons, rising for the second consecutive year after two years of decline. Total imports indicated a resilient expansion 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 +54.8% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, plastic closure imports reached $X in 2022. The total import value increased at an average annual rate of +2.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 21% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in years to come.

Imports by Country

Sweden represented the major importer of plastic stoppers, caps and closures in Scandinavia, with the volume of imports amounting to X tons, which was near 65% of total imports in 2022. Norway (X tons) took the second position in the ranking, followed by Finland (X tons). All these countries together took approx. 35% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to plastic closure imports into Sweden stood at +7.0%. At the same time, Finland (+7.2%) displayed positive paces of growth. Moreover, Finland emerged as the fastest-growing importer imported in Scandinavia, with a CAGR of +7.2% from 2012-2022. Norway experienced a relatively flat trend pattern. Sweden (+8.6 p.p.) and Finland (+2.5 p.p.) significantly strengthened its position in terms of the total imports, while Norway saw its share reduced by -11.1% from 2012 to 2022, respectively.

In value terms, Sweden ($X) constitutes the largest market for imported plastic stoppers, caps and closures in Scandinavia, comprising 51% of total imports. The second position in the ranking was held by Norway ($X), with a 26% share of total imports.

From 2012 to 2022, the average annual growth rate of value in Sweden totaled +3.8%. In the other countries, the average annual rates were as follows: Norway (+0.7% per year) and Finland (+2.3% per year).

Import Prices by Country

The import price in Scandinavia stood at $X per ton in 2022, falling by -19.6% against the previous year. Overall, the import price continues to indicate a noticeable slump. The most prominent rate of growth was recorded in 2013 when the import price increased by 17% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Norway ($X per ton), while Sweden ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Norway (+0.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform