Turkey: Plastic Closure Market 2024

Plastic Closure Market Size in Turkey

The Turkish plastic closure market reached $X in 2022, standing approx. at the previous year. Overall, the total consumption indicated prominent growth 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, consumption decreased by X% against 2020 indices. Over the period under review, the market reached the peak level at $X in 2020; afterwards, it flattened through to 2022.

Plastic Closure Production in Turkey

In value terms, plastic closure production stood at $X in 2022 estimated in export price. In general, the total production indicated buoyant growth 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, production decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2016 when the production volume increased by X%. Over the period under review, production reached the peak level at $X in 2020; afterwards, it flattened through to 2022.

Plastic Closure Exports

Exports from Turkey

In 2022, after five years of growth, there was decline in overseas shipments of plastic stoppers, caps and closures, when their volume decreased by X% to X tons. In general, total exports indicated strong 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, exports increased by X% against 2012 indices. The most prominent rate of growth was recorded in 2013 when exports increased by X%. Over the period under review, the exports reached the maximum at X tons in 2021, and then contracted in the following year.

In value terms, plastic closure exports expanded remarkably to $X in 2022. Overall, total exports indicated a prominent expansion 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 2016 indices. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. The exports peaked in 2022 and are likely to continue growth in years to come.

Exports by Country

Iraq (X tons), Germany (X tons) and Greece (X tons) were the main destinations of plastic closure exports from Turkey, with a combined X% share of total exports. Libya, Israel, the UK, Morocco, Lebanon, Bulgaria, Romania, Algeria, Poland and the United Arab Emirates lagged somewhat behind, together accounting for a further X%.

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

In value terms, Iraq ($X), Germany ($X) and Greece ($X) appeared to be the largest markets for plastic closure exported from Turkey worldwide, together accounting for X% of total exports. The UK, Libya, Israel, Morocco, Algeria, the United Arab Emirates, Poland, Lebanon, Bulgaria and Romania lagged somewhat behind, together comprising a further X%.

Poland, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among 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

The average plastic closure export price stood at $X per ton in 2022, picking up by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The growth pace was the most rapid in 2021 when the average export price increased by X% against the previous year. The export price peaked in 2022 and is expected to retain growth in years to come.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the United Arab Emirates ($X per ton) and Algeria ($X per ton), while the average price for exports to Greece ($X per ton) and Bulgaria ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Libya (X%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Closure Imports

Imports into Turkey

In 2022, supplies from abroad of plastic stoppers, caps and closures increased by X% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, total imports indicated a strong 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, imports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2013 when imports increased by X% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in years to come.

In value terms, plastic closure imports expanded notably to $X in 2022. In general, total imports indicated a strong expansion 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, imports increased by X% against 2015 indices. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, Germany (X tons) constituted the largest plastic closure supplier to Turkey, with a X% share of total imports. Moreover, plastic closure imports from Germany exceeded the figures recorded by the second-largest supplier, Italy (X tons), twofold. France (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Germany amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (X% per year) and France (X% per year).

In value terms, the largest plastic closure suppliers to Turkey were Germany ($X), Italy ($X) and China ($X), with a combined X% share of total imports. France, the UK, Poland, Spain, Switzerland, the Czech Republic, Hungary, Romania, Slovenia and Egypt lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, the Czech Republic, with a CAGR of X%, saw 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.

Import Prices by Country

The average plastic closure import price stood at $X per ton in 2022, increasing by X% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 an increase of X% against the previous year. The import price peaked in 2022 and is expected to retain growth in the near future.

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 China ($X per ton), while the price for Egypt ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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