United Kingdom: Plastic Ornamental Articles Market 2024

Plastic Ornamental Articles Market Size in the UK

In 2022, the UK plastic ornamental articles market decreased by -9.8% to $X for the first time since 2016, thus ending a five-year rising trend. Over the period under review, consumption, however, showed buoyant growth. As a result, consumption reached the peak level of $X, and then declined in the following year.

Plastic Ornamental Articles Production in the UK

In value terms, plastic ornamental articles production dropped slightly to $X in 2022 estimated in export price. In general, production, however, showed a abrupt descent. The pace of growth was the most pronounced in 2018 with an increase of 135% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Plastic Ornamental Articles Exports

Exports from the UK

For the fourth consecutive year, the UK recorded decline in overseas shipments of statuettes and other ornamental articles of plastic, which decreased by -17.5% to X tons in 2022. In general, exports, however, enjoyed mild growth. The growth pace was the most rapid in 2016 with an increase of 51% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, plastic ornamental articles exports rose notably to $X in 2022. The total export value increased at an average annual rate of +3.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 when exports increased by 27%. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Germany (X tons), Ireland (X tons) and France (X tons) were the main destinations of plastic ornamental articles exports from the UK, with a combined 47% share of total exports. The Netherlands, the United States, Belgium, Spain, China, Italy, South Africa and the United Arab Emirates lagged somewhat behind, together comprising a further 34%.

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +24.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for plastic ornamental articles exported from the UK were Germany ($X), France ($X) and the United States ($X), with a combined 44% share of total exports. The Netherlands, Ireland, Belgium, Spain, Italy, the United Arab Emirates, China and South Africa lagged somewhat behind, together comprising a further 35%.

In terms of the main countries of destination, the United Arab Emirates, with a CAGR of +15.4%, 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

The average plastic ornamental articles export price stood at $X per ton in 2022, increasing by 30% against the previous year. Over the period under review, the export price recorded a modest expansion. The growth pace was the most rapid in 2021 an increase of 48% against the previous year. Over the period under review, the average export prices attained the peak figure in 2022 and is likely to see gradual growth in years to come.

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 ($X per ton), while the average price for exports to China ($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 the United States (+7.7%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Ornamental Articles Imports

Imports into the UK

After six years of growth, overseas purchases of statuettes and other ornamental articles of plastic decreased by -28% to X tons in 2022. Over the period under review, total imports indicated slight growth from 2012 to 2022: its volume increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when imports increased by 21% against the previous year. As a result, imports attained the peak of X tons, and then fell dramatically in the following year.

In value terms, plastic ornamental articles imports contracted to $X in 2022. Overall, imports, however, enjoyed a strong expansion. The most prominent rate of growth was recorded in 2021 with an increase of 38% against the previous year. As a result, imports attained the peak of $X, and then dropped in the following year.

Imports by Country

In 2022, China (X tons) was the main plastic ornamental articles supplier to the UK, accounting for a 93% share of total imports. It was followed by Vietnam (X tons), with a 0.8% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from China stood at +2.5%.

In value terms, China ($X) constituted the largest supplier of statuettes and other ornamental articles of plastic to the UK, comprising 90% of total imports. The second position in the ranking was held by Vietnam ($X), with a 0.7% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China totaled +9.3%.

Import Prices by Country

In 2022, the average plastic ornamental articles import price amounted to $X per ton, increasing by 31% against the previous year. Overall, import price indicated a remarkable increase from 2012 to 2022: its price increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, plastic ornamental articles import price increased by +49.6% against 2020 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while the price for Vietnam totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+10.8%).

Source: IndexBox Platform

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