Thailand: Plastic Closure Market 2024

Plastic Closure Market Size in Thailand

The Thai plastic closure market amounted to $X in 2022, rising 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. Plastic closure consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Plastic Closure Production in Thailand

In value terms, plastic closure production expanded 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 pace of growth was the most pronounced in 2018 with an increase of X%. Plastic closure production peaked at $X in 2020; afterwards, it flattened through to 2022.

Plastic Closure Exports

Exports from Thailand

In 2022, shipments abroad of plastic stoppers, caps and closures decreased by X% to X tons for the first time since 2015, thus ending a six-year rising trend. Over the period under review, exports, however, showed a prominent increase. The pace of growth appeared the most rapid in 2019 when exports increased by X%. The exports peaked at X tons in 2021, and then contracted in the following year.

In value terms, plastic closure exports fell slightly to $X in 2022. In general, exports, however, posted a prominent increase. The pace of growth appeared the most rapid in 2019 when exports increased by X%. The exports peaked at $X in 2021, and then declined in the following year.

Exports by Country

Japan (X tons), the Philippines (X tons) and the United States (X tons) were the main destinations of plastic closure exports from Thailand, with a combined X% share of total exports. Vietnam, Australia, Indonesia, China, Malaysia, Lao People's Democratic Republic, Mexico, Cambodia, Myanmar and Singapore lagged somewhat behind, together accounting for a further X%.

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

In value terms, Japan ($X) emerged as the key foreign market for plastic stoppers, caps and closures exports from Thailand, comprising X% of total exports. The second position in the ranking was taken by the United States ($X), with an X% share of total exports. It was followed by the Philippines, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Japan stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and the Philippines (X% per year).

Export Prices by Country

In 2022, the average plastic closure export price amounted to $X per ton, with an increase of X% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Lao People's Democratic Republic ($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 Indonesia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Closure Imports

Imports into Thailand

In 2022, plastic closure imports into Thailand rose sharply to X tons, increasing by X% compared with 2021 figures. Overall, total imports indicated buoyant growth 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, imports increased by X% against 2017 indices. The pace of growth appeared the most rapid in 2020 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to see gradual growth in the near future.

In value terms, plastic closure imports declined modestly to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2020 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2021, and then shrank in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest plastic closure supplier to Thailand, with a X% share of total imports. Moreover, plastic closure imports from China exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), threefold. The third position in this ranking was taken by Germany (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (X% per year) and Germany (X% per year).

In value terms, China ($X) constituted the largest supplier of plastic stoppers, caps and closures to Thailand, comprising X% of total imports. The second position in the ranking was taken by Malaysia ($X), with a X% share of total imports. It was followed by Germany, with an X% share.

From 2012 to 2022, the average annual growth rate of value from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (X% per year) and Germany (X% per year).

Import Prices by Country

In 2022, the average plastic closure import price amounted to $X per ton, shrinking by X% against the previous year. In general, the import price recorded a pronounced decline. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 Taiwan (Chinese) ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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