Spain: Plastic Closure Market 2024

Plastic Closure Market Size in Spain

The Spanish plastic closure market totaled $X in 2022, with an increase of 12% against the previous year. Overall, consumption, however, showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2016 to 2022, the growth of the market remained at a somewhat lower figure.

Plastic Closure Production in Spain

In value terms, plastic closure production expanded slightly to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a noticeable shrinkage. The most prominent rate of growth was recorded in 2015 when the production volume increased by 39%. As a result, production reached the peak level of $X. From 2016 to 2022, production growth remained at a lower figure.

Plastic Closure Exports

Exports from Spain

In 2022, overseas shipments of plastic stoppers, caps and closures decreased by -3.2% to X tons, falling for the third year in a row after two years of growth. The total export volume increased at an average annual rate of +2.4% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2015 when exports increased by 10% against the previous year. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, plastic closure exports amounted to $X in 2022. The total export value increased at an average annual rate of +4.0% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 with an increase of 19% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Exports by Country

France (X tons) was the main destination for plastic closure exports from Spain, with a 24% share of total exports. Moreover, plastic closure exports to France exceeded the volume sent to the second major destination, Portugal (X tons), twofold. Italy (X tons) ranked third in terms of total exports with an 8.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to France stood at +1.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Portugal (-1.1% per year) and Italy (+5.3% per year).

In value terms, France ($X) remains the key foreign market for plastic stoppers, caps and closures exports from Spain, comprising 26% of total exports. The second position in the ranking was taken by Italy ($X), with an 8.5% share of total exports. It was followed by Portugal, with a 7.7% share.

From 2012 to 2022, the average annual growth rate of value to France stood at +3.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+8.2% per year) and Portugal (+1.6% per year).

Export Prices by Country

In 2022, the average plastic closure export price amounted to $X per ton, growing by 7.7% against the previous year. Over the last decade, it increased at an average annual rate of +1.5%. The most prominent rate of growth was recorded in 2020 when the average export price increased by 14%. Over the period under review, the average export prices hit record highs in 2022 and is likely to see gradual growth in the near future.

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 United States ($X per ton), while the average price for exports to Portugal ($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 Belgium (+7.2%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Closure Imports

Imports into Spain

In 2022, after two years of decline, there was significant growth in overseas purchases of plastic stoppers, caps and closures, when their volume increased by 18% to X tons. Over the period under review, imports saw a buoyant expansion. The pace of growth appeared the most rapid in 2014 when imports increased by 47%. Over the period under review, imports reached the maximum at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, plastic closure imports skyrocketed to $X in 2022. Overall, total imports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +7.5% 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 +37.0% against 2020 indices. The pace of growth appeared the most rapid in 2014 with an increase of 22% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the near future.

Imports by Country

Portugal (X tons), Italy (X tons) and Germany (X tons) were the main suppliers of plastic closure imports to Spain, together accounting for 71% of total imports. France, the Netherlands, Belgium, Poland and the UK lagged somewhat behind, together accounting for a further 23%.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +24.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest plastic closure suppliers to Spain were France ($X), Germany ($X) and Italy ($X), with a combined 61% share of total imports. Portugal, the Netherlands, Poland, Belgium and the UK lagged somewhat behind, together accounting for a further 19%.

In terms of the main suppliers, the Netherlands, with a CAGR of +23.0%, 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, stabilizing at the previous year. Over the period under review, the import price recorded a mild downturn. The most prominent rate of growth was recorded in 2021 when the average import price increased by 27% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2016; however, from 2017 to 2022, 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 the UK ($X per ton), while the price for Portugal ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+11.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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