Sweden: Plastic Closure Market 2024

Plastic Closure Market Size in Sweden

The Swedish plastic closure market rose rapidly to $X in 2022, with an increase of 11% against the previous year. The market value increased at an average annual rate of +2.7% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. Plastic closure consumption peaked in 2022 and is expected to retain growth in the near future.

Plastic Closure Production in Sweden

In value terms, plastic closure production fell to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the production volume increased by 19%. As a result, production reached the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Plastic Closure Exports

Exports from Sweden

In 2022, overseas shipments of plastic stoppers, caps and closures decreased by -12.1% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports showed a pronounced contraction. The most prominent rate of growth was recorded in 2017 when exports increased by 27%. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, plastic closure exports dropped to $X in 2022. Overall, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 33%. Over the period under review, the exports hit record highs at $X in 2021, and then contracted in the following year.

Exports by Country

Norway (X tons) was the main destination for plastic closure exports from Sweden, accounting for a 26% share of total exports. Moreover, plastic closure exports to Norway exceeded the volume sent to the second major destination, Finland (X tons), twofold. The third position in this ranking was taken by Denmark (X tons), with a 12% share.

From 2012 to 2022, the average annual growth rate of volume to Norway totaled +5.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Finland (+6.3% per year) and Denmark (+5.7% per year).

In value terms, the largest markets for plastic closure exported from Sweden were Norway ($X), Finland ($X) and Denmark ($X), together comprising 47% of total exports. Germany, Hungary, the UK, Poland, the Netherlands, China, Belgium, Estonia, Spain and Ireland lagged somewhat behind, together accounting for a further 36%.

In terms of the main countries of destination, Ireland, with a CAGR of +49.6%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average plastic closure export price amounted to $X per ton, almost unchanged from the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.6%. The growth pace was the most rapid in 2021 an increase of 12% against the previous year. As a result, the export price attained the peak level of $X per ton, leveling off in the following year.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to China ($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 Ireland (+7.3%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Closure Imports

Imports into Sweden

In 2022, overseas purchases of plastic stoppers, caps and closures increased by 44% to X tons, rising for the second year in a row after two years of decline. Overall, imports continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 49%. Over the period under review, imports reached the peak figure in 2022 and are likely to see gradual growth in years to come.

In value terms, plastic closure imports stood at $X in 2022. Over the period under review, total imports indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +3.8% 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 +36.1% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 35% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2022, Germany (X tons) constituted the largest plastic closure supplier to Sweden, accounting for a 66% share of total imports. Moreover, plastic closure imports from Germany exceeded the figures recorded by the second-largest supplier, Finland (X tons), more than tenfold. The third position in this ranking was held by Denmark (X tons), with a 4.1% share.

From 2012 to 2022, the average annual growth rate of volume from Germany amounted to +16.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Finland (+6.8% per year) and Denmark (-9.3% per year).

In value terms, Germany ($X) constituted the largest supplier of plastic stoppers, caps and closures to Sweden, comprising 34% of total imports. The second position in the ranking was held by Italy ($X), with a 9.3% share of total imports. It was followed by China, with a 6.4% share.

From 2012 to 2022, the average annual growth rate of value from Germany totaled +8.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+2.6% per year) and China (+21.8% per year).

Import Prices by Country

In 2022, the average plastic closure import price amounted to $X per ton, with a decrease of -30% against the previous year. In general, the import price saw a perceptible decline. The growth pace was the most rapid in 2013 an increase of 48% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the average import prices failed to regain momentum.

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 Czech Republic ($X per ton), while the price for Germany ($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 Czech Republic (+11.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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