United Arab Emirates: Plastic Closure Market 2024

Plastic Closure Market Size in the United Arab Emirates

After two years of growth, the plastic closure market in the United Arab Emirates decreased by -5.7% to $X in 2022. Over the period under review, consumption saw a relatively flat trend pattern. Plastic closure consumption peaked at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Plastic Closure Production in the United Arab Emirates

In value terms, plastic closure production shrank modestly to $X in 2022 estimated in export price. Over the period under review, production saw a noticeable descent. The growth pace was the most rapid in 2014 with an increase of 13%. Plastic closure production peaked at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

Plastic Closure Exports

Exports from the United Arab Emirates

In 2022, overseas shipments of plastic stoppers, caps and closures increased by 9.4% to X tons for the first time since 2019, thus ending a two-year declining trend. In general, exports recorded a pronounced increase. The pace of growth appeared the most rapid in 2019 when exports increased by 38%. As a result, the exports reached the peak of X tons. From 2020 to 2022, the growth of the exports remained at a lower figure.

In value terms, plastic closure exports dropped modestly to $X in 2022. Over the period under review, exports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of 19%. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Mozambique (X tons), Bahrain (X tons) and the United States (X tons) were the main destinations of plastic closure exports from the United Arab Emirates, together comprising 60% of total exports. Egypt, Jordan, Morocco, Poland, the Netherlands, Zimbabwe, the UK and Qatar lagged somewhat behind, together accounting for a further 25%.

From 2012 to 2022, the biggest increases were recorded for Morocco (with a CAGR of +288.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for plastic closure exported from the United Arab Emirates were the United States ($X), Egypt ($X) and Mozambique ($X), with a combined 55% share of total exports. Bahrain, Jordan, Morocco, Poland, the UK, Zimbabwe, the Netherlands and Qatar lagged somewhat behind, together accounting for a further 27%.

Morocco, with a CAGR of +235.8%, recorded 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

In 2022, the average plastic closure export price amounted to $X per ton, dropping by -10.1% against the previous year. Over the period under review, the export price saw a mild curtailment. The growth pace was the most rapid in 2021 an increase of 33% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

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 Jordan ($X per ton), while the average price for exports to Qatar ($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 Jordan (+5.5%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Closure Imports

Imports into the United Arab Emirates

In 2022, imports of plastic stoppers, caps and closures into the United Arab Emirates shrank to X tons, falling by -10.3% compared with 2021 figures. In general, total imports indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of +8.0% 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 +20.4% against 2017 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 37% against the previous year. Imports peaked at X tons in 2021, and then declined in the following year.

In value terms, plastic closure imports fell to $X in 2022. Over the period under review, total imports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +6.6% 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 +35.1% against 2016 indices. The pace of growth was the most pronounced in 2014 when imports increased by 28% against the previous year. Over the period under review, imports attained the maximum at $X in 2021, and then fell in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest plastic closure supplier to the United Arab Emirates, accounting for a 47% share of total imports. Moreover, plastic closure imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), threefold. Italy (X tons) ranked third in terms of total imports with a 6.8% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +10.8%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+7.7% per year) and Italy (+20.8% per year).

In value terms, China ($X) constituted the largest supplier of plastic stoppers, caps and closures to the United Arab Emirates, comprising 52% of total imports. The second position in the ranking was held by India ($X), with an 11% share of total imports. It was followed by Italy, with a 6.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +7.2%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+9.2% per year) and Italy (+18.4% per year).

Import Prices by Country

In 2022, the average plastic closure import price amounted to $X per ton, flattening at the previous year. In general, the import price, however, saw a mild reduction. The most prominent rate of growth was recorded in 2014 an increase of 12% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat 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 France ($X per ton), while the price for Bahrain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+3.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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