Asia: Plastic Closure Market 2024

Plastic Closure Market Size in Asia

The Asian plastic closure market amounted to $X in 2022, increasing by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the peak level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Plastic Closure Production in Asia

In value terms, plastic closure production amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Plastic Closure Exports

Exports in Asia

Plastic closure exports expanded notably to X tons in 2022, surging by X% compared with the previous year's figure. Total exports indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2012 indices. The most prominent rate of growth was recorded in 2016 with an increase of X%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the near future.

In value terms, plastic closure exports expanded significantly to $X in 2022. Total exports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2012 indices. The pace of growth was the most pronounced in 2021 with an increase of X%. The level of export peaked in 2022 and is likely to see gradual growth in the immediate term.

Exports by Country

In 2022, China (X tons) represented the major exporter of plastic stoppers, caps and closures, generating X% of total exports. Turkey (X tons) held the second position in the ranking, followed by Thailand (X tons), India (X tons) and Taiwan (Chinese) (X tons). All these countries together held near X% share of total exports. The following exporters - Malaysia (X tons), the United Arab Emirates (X tons), Saudi Arabia (X tons) and South Korea (X tons) - together made up X% of total exports.

From 2012 to 2022, average annual rates of growth with regard to plastic closure exports from China stood at X%. At the same time, Taiwan (Chinese) (X%), South Korea (X%), Malaysia (X%), Thailand (X%), Turkey (X%), the United Arab Emirates (X%), Saudi Arabia (X%) and India (X%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2022. While the share of China (X p.p.) and Taiwan (Chinese) (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest plastic closure supplier in Asia, comprising X% of total exports. The second position in the ranking was held by Turkey ($X), with a X% share of total exports. It was followed by Taiwan (Chinese), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China stood at X%. In the other countries, the average annual rates were as follows: Turkey (X% per year) and Taiwan (Chinese) (X% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2022, remaining relatively unchanged against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2017 when the export price increased by X% against the previous year. Over the period under review, the export prices hit record highs in 2022 and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was South Korea ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (X%), while the other leaders experienced more modest paces of growth.

Plastic Closure Imports

Imports in Asia

In 2022, approx. X tons of plastic stoppers, caps and closures were imported in Asia; picking up by X% against the year before. The total import volume increased at an average annual rate of X% 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 2013 when imports increased by X%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, plastic closure imports stood at $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Japan (X tons), Indonesia (X tons), the United Arab Emirates (X tons), Saudi Arabia (X tons), Thailand (X tons), Turkey (X tons), Malaysia (X tons), Vietnam (X tons), China (X tons), Iraq (X tons), the Philippines (X tons) and Israel (X tons) represented the major importer of plastic stoppers, caps and closures in Asia, achieving X% of total import. South Korea (X tons) followed a long way behind the leaders.

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

In value terms, Japan ($X), China ($X) and the United Arab Emirates ($X) constituted the countries with the highest levels of imports in 2022, with a combined X% share of total imports.

The United Arab Emirates, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Asia amounted to $X per ton, approximately reflecting the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2014 an increase of X% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while Iraq ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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