Canada: Plastic Closure Market 2024

Plastic Closure Market Size in Canada

The Canadian plastic closure market rose sharply to $X in 2023, with an increase of X% against the previous year. Over the period under review, the total consumption indicated a buoyant expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption increased by X% against 2020 indices. Over the period under review, the market reached the peak level in 2023 and is expected to retain growth in the immediate term.

Plastic Closure Production in Canada

In value terms, plastic closure production soared to $X in 2023 estimated in export price. In general, production posted strong growth. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. Plastic closure production peaked in 2023 and is likely to continue growth in the immediate term.

Plastic Closure Exports

Exports from Canada

After two years of growth, overseas shipments of plastic stoppers, caps and closures decreased by X% to X tons in 2023. Overall, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 when exports increased by X%. As a result, the exports reached the peak of X tons, and then fell markedly in the following year.

In value terms, plastic closure exports contracted to $X in 2023. The total export value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2022, and then fell in the following year.

Exports by Country

The United States (X tons) was the main destination for plastic closure exports from Canada, accounting for a approx. X% share of total exports.

From 2012 to 2023, the average annual growth rate of volume to the United States amounted to X%.

In value terms, the United States ($X) also remains the key foreign market for plastic stoppers, caps and closures exports from Canada.

From 2012 to 2023, the average annual growth rate of value to the United States stood at X%.

Export Prices by Country

The average plastic closure export price stood at $X per ton in 2023, picking up by X% against the previous year. Over the last eleven-year period, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs in 2023 and is expected to retain growth in the near future.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2012 to 2023, the rate of growth in terms of prices for the United States amounted to X% per year.

Plastic Closure Imports

Imports into Canada

In 2023, after two years of growth, there was significant decline in overseas purchases of plastic stoppers, caps and closures, when their volume decreased by X% to X tons. The total import volume increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2019 with an increase of X%. Over the period under review, imports attained the peak figure at X tons in 2022, and then dropped in the following year.

In value terms, plastic closure imports dropped to $X in 2023. In general, total imports indicated noticeable growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2015 indices. The pace of growth was the most pronounced in 2022 with an increase of X%. As a result, imports attained the peak of $X, and then reduced in the following year.

Imports by Country

In 2023, the United States (X tons) constituted the largest plastic closure supplier to Canada, with a X% share of total imports. Moreover, plastic closure imports from the United States exceeded the figures recorded by the second-largest supplier, China (X tons), sevenfold. The third position in this ranking was held by Mexico (X tons), with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume from the United States was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Mexico (X% per year).

In value terms, the United States ($X) constituted the largest supplier of plastic stoppers, caps and closures to Canada, comprising X% of total imports. The second position in the ranking was held by China ($X), with a X% share of total imports. It was followed by Mexico, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value from the United States totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Mexico (X% per year).

Import Prices by Country

The average plastic closure import price stood at $X per ton in 2023, surging by X% against the previous year. Over the last eleven-year period, it increased at an average annual rate of X%. The growth pace was the most rapid in 2022 when the average import price increased by X%. Over the period under review, average import prices hit record highs in 2023 and is likely to continue growth in the near future.

Average prices varied noticeably amongst the major supplying countries. In 2023, amid the top importers, the countries with the highest prices were Mexico ($X per ton) and the United States ($X per ton), while the price for Germany ($X per ton) and Spain ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the United States (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform