Ukraine: Plastic Closure Market 2024

Plastic Closure Market Size in Ukraine

The Ukrainian plastic closure market was estimated at $X in 2022, picking up by 5% against the previous year. Over the period under review, the total consumption indicated mild growth from 2012 to 2022: its value increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -4.7% against 2020 indices. As a result, consumption reached the peak level of $X; afterwards, it flattened through to 2022.

Plastic Closure Production in Ukraine

In value terms, plastic closure production rose rapidly to $X in 2022 estimated in export price. Over the period under review, the total production indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -4.7% against 2020 indices. The pace of growth was the most pronounced in 2019 with an increase of 24%. Over the period under review, production reached the maximum level at $X in 2020; afterwards, it flattened through to 2022.

Plastic Closure Exports

Exports from Ukraine

After six years of growth, shipments abroad of plastic stoppers, caps and closures decreased by -53.5% to X tons in 2022. Over the period under review, exports recorded a slight descent. The pace of growth appeared the most rapid in 2019 when exports increased by 43%. The exports peaked at X tons in 2021, and then declined remarkably in the following year.

In value terms, plastic closure exports reduced remarkably to $X in 2022. Overall, exports, however, posted a perceptible increase. The pace of growth was the most pronounced in 2019 when exports increased by 77% against the previous year. The exports peaked at $X in 2021, and then dropped sharply in the following year.

Exports by Country

Russia (X tons), Romania (X tons) and Italy (X tons) were the main destinations of plastic closure exports from Ukraine, with a combined 34% share of total exports. Belarus, Georgia, Moldova, Lithuania, Latvia, Poland, Chile, Mexico, the UK and Kazakhstan lagged somewhat behind, together comprising a further 45%.

From 2012 to 2022, the biggest increases were recorded for the UK (with a CAGR of +213.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X), Italy ($X) and Romania ($X) appeared to be the largest markets for plastic closure exported from Ukraine worldwide, with a combined 33% share of total exports. Latvia, Georgia, Belarus, Mexico, Lithuania, Moldova, the UK, Chile, Poland and Kazakhstan lagged somewhat behind, together accounting for a further 43%.

In terms of the main countries of destination, Mexico, with a CAGR of +200.8%, recorded 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, surging by 29% against the previous year. Over the period under review, export price indicated a remarkable increase from 2012 to 2022: its price increased at an average annual rate of +5.0% 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 +66.3% against 2016 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Latvia ($X per ton), while the average price for exports to Kazakhstan ($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 Lithuania (+10.2%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Closure Imports

Imports into Ukraine

After six years of growth, supplies from abroad of plastic stoppers, caps and closures decreased by -38.6% to X tons in 2022. Overall, imports recorded a deep setback. The growth pace was the most rapid in 2020 with an increase of 8%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, plastic closure imports reduced sharply to $X in 2022. In general, imports showed a deep setback. The pace of growth appeared the most rapid in 2021 with an increase of 16%. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

Poland (X tons), Belarus (X tons) and Turkey (X tons) were the main suppliers of plastic closure imports to Ukraine, with a combined 44% share of total imports. Romania, Germany, Russia, Italy, France, Bulgaria, Hungary and China lagged somewhat behind, together comprising a further 44%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Romania (with a CAGR of +67.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Belarus ($X), Poland ($X) and Germany ($X) appeared to be the largest plastic closure suppliers to Ukraine, with a combined 44% share of total imports. Italy, China, Turkey, France, Romania, Russia, Hungary and Bulgaria lagged somewhat behind, together accounting for a further 42%.

Romania, with a CAGR of +54.4%, saw the highest growth rate of the value of imports, among the main suppliers 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, with an increase of 10% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. Over the period under review, average import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per ton), while the price for Romania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belarus (+2.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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