Slovakia: Plastic Closure Market 2024

Plastic Closure Market Size in Slovakia

After two years of growth, the Slovak plastic closure market decreased by -21.7% to $X in 2022. Over the period under review, the total consumption indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Plastic closure consumption peaked at $X in 2021, and then dropped significantly in the following year.

Plastic Closure Production in Slovakia

In value terms, plastic closure production declined modestly to $X in 2022 estimated in export price. In general, production showed a dramatic curtailment. The most prominent rate of growth was recorded in 2021 when the production volume increased by 11%. Plastic closure production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Plastic Closure Exports

Exports from Slovakia

In 2022, shipments abroad of plastic stoppers, caps and closures increased by 15% to X tons, rising for the second year in a row after two years of decline. In general, exports saw a resilient expansion. The growth pace was the most rapid in 2016 when exports increased by 139% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, plastic closure exports expanded slightly to $X in 2022. Overall, exports recorded a prominent expansion. The most prominent rate of growth was recorded in 2016 when exports increased by 132%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in years to come.

Exports by Country

Spain (X tons), Germany (X tons) and France (X tons) were the main destinations of plastic closure exports from Slovakia, together comprising 56% of total exports. The Czech Republic, Lithuania, Denmark, the UK, Poland, Italy, Portugal, Belgium, Egypt and Turkey lagged somewhat behind, together comprising a further 34%.

From 2012 to 2022, the biggest increases were recorded for Lithuania (with a CAGR of +229.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for plastic closure exported from Slovakia were Spain ($X), France ($X) and the Czech Republic ($X), with a combined 54% share of total exports. Germany, Denmark, Italy, the UK, Lithuania, Portugal, Belgium, Poland, Egypt and Turkey lagged somewhat behind, together comprising a further 32%.

Lithuania, with a CAGR of +207.6%, saw the highest growth rate of 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, falling by -11.3% against the previous year. In general, export price indicated a slight expansion from 2012 to 2022: its price increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, plastic closure export price increased by +63.9% against 2013 indices. The most prominent rate of growth was recorded in 2017 when the average export price increased by 24% against the previous year. The export price peaked at $X per ton in 2021, and then shrank in the following year.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the Czech Republic ($X per ton), while the average price for exports to Turkey ($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 France (+3.4%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Closure Imports

Imports into Slovakia

In 2022, purchases abroad of plastic stoppers, caps and closures decreased by -22.8% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, total imports indicated strong growth from 2012 to 2022: its volume increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 with an increase of 39%. Imports peaked at X tons in 2021, and then shrank rapidly in the following year.

In value terms, plastic closure imports soared to $X in 2022. Over the period under review, imports, however, continue to indicate a resilient increase. The pace of growth appeared the most rapid in 2021 when imports increased by 27%. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

Slovenia (X tons), the UK (X tons) and the Czech Republic (X tons) were the main suppliers of plastic closure imports to Slovakia, together comprising 50% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Slovenia (with a CAGR of +18.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Slovenia ($X) and the Czech Republic ($X) constituted the largest plastic closure suppliers to Slovakia, with a combined 55% share of total imports.

Among the main suppliers, Slovenia, with a CAGR of +26.6%, saw 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

The average plastic closure import price stood at $X per ton in 2022, jumping by 52% against the previous year. In general, import price indicated a mild expansion from 2012 to 2022: its price increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, plastic closure import price increased by +80.5% against 2020 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 France ($X per ton), while the price for the UK ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+19.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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