United Kingdom - Plastic Sacks And Bags - Market Analysis, Forecast, Size, Trends and Insights
UK Plastic Bag Price Plummets to $3,996 per Ton, Fluctuating Wildly over 2022
United Kingdom Plastic Bag Import Price in September 2022
In September 2022, the plastic bag price amounted to $3,996 per ton (CIF, United Kingdom), reducing by -15.3% against the previous month. Over the period from January 2022 to September 2022, it increased at an average monthly rate of +2.4%. The pace of growth appeared the most rapid in August 2022 an increase of 21% against the previous month. As a result, import price attained the peak level of $4,720 per ton, and then declined markedly in the following month.
There were significant differences in the average prices amongst the major supplying countries. In September 2022, the country with the highest price was Portugal ($6,447 per ton), while the price for the United Arab Emirates ($479 per ton) was amongst the lowest.
From January 2022 to September 2022, the most notable rate of growth in terms of prices was attained by Qatar (+10.3%), while the prices for the other major suppliers experienced more modest paces of growth.
United Kingdom Plastic Bag Import Prices by Type
Average prices varied somewhat amongst the major supplied products. In September 2022, the product with the highest price was plastics ($4,569 per ton), while the price for sacks and bags of polymers of ethylene amounted to $3,537 per ton.
From January 2022 to September 2022, the most notable rate of growth in terms of prices was attained by ethylene polymer bag (+4.4%).
United Kingdom Plastic Bag Imports
In September 2022, approximately 2.3K tons of plastic sacks and bags were imported into the UK; shrinking by -26.8% compared with the previous month. In general, imports continue to indicate a abrupt descent. The pace of growth appeared the most rapid in July 2022 with an increase of 69% m-o-m. As a result, imports attained the peak of 8.1K tons. From August 2022 to September 2022, the growth of imports remained at a somewhat lower figure.
In value terms, plastic bag imports declined remarkably to $9M (IndexBox estimates) in September 2022. Overall, imports continue to indicate a deep setback. The growth pace was the most rapid in July 2022 with an increase of 98% m-o-m. As a result, imports reached the peak of $32M. From August 2022 to September 2022, the growth of imports remained at a somewhat lower figure.
United Kingdom Plastic Bag Imports by Type
Sacks and bags of polymers of ethylene (1.3K tons) and plastics (1K tons) were the main products of plastic bag imports to the UK.
From January 2022 to September 2022, the biggest increases were in plastics; sacks and bags (including cones), for the conveyance or packing of goods, of plastics other than ethylene polymers (with a CAGR of -10.5%).
In value terms, plastics ($4.6M) and sacks and bags of polymers of ethylene ($4.4M) appeared to be the most imported types of plastic sacks and bags in the UK.
United Kingdom Plastic Bag Imports by Country
Ireland (449 tons), France (340 tons) and Lithuania (232 tons) were the main suppliers of plastic bag imports to the UK, together comprising 45% of total imports. Belgium, the United Arab Emirates, Portugal, Italy, the Netherlands, Bulgaria, Qatar, Vietnam, New Zealand and India lagged somewhat behind, together accounting for a further 40%.
From January 2022 to September 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of +81.1%), while imports for the other leaders experienced more modest paces of growth.
In value terms, France ($1.7M), Belgium ($1.1M) and Lithuania ($885K) constituted the largest plastic bag suppliers to the UK, together comprising 41% of total imports. These countries were followed by Ireland, Portugal, Italy, Bulgaria, New Zealand, Vietnam, the Netherlands, India, Qatar and the United Arab Emirates, which together accounted for a further 38%.
In terms of the main suppliers, the Netherlands, with a CAGR of +51.6%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.
Plastic Bag Market Overview
The United Kingdom's plastic bag market is one of the most important in Europe. There are a number of factors that contribute to the UK's strong plastic bag market.
One of the key factors is the country's population density. With a population of over 65 million people, the UK is one of the most densely populated countries in Europe. This means that there is a large potential market for plastic bags.
Moreover, there has been a shift away from traditional materials such as paper and cloth bags, which are perceived to be less durable and more expensive. The plastic bags also offer a number of benefits over other types of packaging, including being lightweight, moisture-resistant and recyclable.
Finally, another important factor that has contributed to the success of the plastic bag market in the UK is the availability of raw materials. The country has a large number of companies that produce raw materials for plastic bags, such as polyethylene and polypropylene. This ensures that there is a constant supply of raw materials available for businesses to use, helping to keep costs down.
This report provides an in-depth analysis of the plastic bag market in the UK. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Making Data-Driven Decisions to Grow Your Business
A Quick Overview of Market Performance
Understanding the Current State of The Market and Its Prospects
Finding New Products to Diversify Your Business
Choosing the Best Countries to Establish Your Sustainable Supply Chain
Choosing the Best Countries to Boost Your Exports
The Latest Trends and Insights into The Industry
The Largest Import Supplying Countries
The Largest Destinations for Exports
The Largest Producers on The Market and Their Profiles
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