Chile: Plastic Closure Market 2024

Plastic Closure Market Size in Chile

In 2023, the Chilean plastic closure market decreased by X% to $X for the first time since 2020, thus ending a two-year rising trend. In general, consumption, however, recorded a noticeable increase. As a result, consumption reached the peak level of $X, and then dropped remarkably in the following year.

Plastic Closure Production in Chile

In value terms, plastic closure production contracted to $X in 2023 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2022 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X, and then dropped in the following year.

Plastic Closure Exports

Exports from Chile

After seven years of decline, overseas shipments of plastic stoppers, caps and closures increased by X% to X tons in 2023. Overall, exports, however, continue to indicate a deep contraction. The most prominent rate of growth was recorded in 2013 when exports increased by X%. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2023, the exports stood at a somewhat lower figure.

In value terms, plastic closure exports dropped to $X in 2023. Over the period under review, exports, however, recorded a abrupt curtailment. The pace of growth was the most pronounced in 2013 with an increase of X%. Over the period under review, the exports attained the peak figure at $X in 2015; however, from 2016 to 2023, the exports failed to regain momentum.

Exports by Country

Argentina (X tons), Colombia (X tons) and Paraguay (X tons) were the main destinations of plastic closure exports from Chile, together accounting for X% of total exports. Peru, Costa Rica, Uruguay, Panama, Ecuador, Bolivia, Guatemala and Brazil lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Guatemala (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Colombia ($X), Argentina ($X) and Paraguay ($X) constituted the largest markets for plastic closure exported from Chile worldwide, together comprising X% of total exports. Peru, Costa Rica, Uruguay, Ecuador, Panama, Bolivia, Guatemala and Brazil lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, Guatemala, with a CAGR of X%, saw the highest growth rate of the value of exports, 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 2023, therefore, remained relatively stable against the previous year. Over the period under review, export price indicated a moderate increase from 2012 to 2023: its price 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, plastic closure export price increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 an increase of X%. The export price peaked at $X per ton in 2022, and then fell in the following year.

Average prices varied somewhat for the major overseas markets. In 2023, amid the top suppliers, the countries with the highest prices were Costa Rica ($X per ton) and Colombia ($X per ton), while the average price for exports to Paraguay ($X per ton) and Argentina ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Colombia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Closure Imports

Imports into Chile

After three years of growth, supplies from abroad of plastic stoppers, caps and closures decreased by X% to X tons in 2023. Over the period under review, imports, however, posted a remarkable increase. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2022, and then declined significantly in the following year.

In value terms, plastic closure imports fell sharply to $X in 2023. In general, imports, however, enjoyed strong growth. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2022, and then shrank rapidly in the following year.

Imports by Country

China (X tons), Argentina (X tons) and Brazil (X tons) were the main suppliers of plastic closure imports to Chile, with a combined X% share of total imports. The United States, Mexico, Peru, Colombia, Germany, Italy, South Korea and France lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by South Korea (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest plastic closure suppliers to Chile were China ($X), Argentina ($X) and Brazil ($X), together comprising X% of total imports. Mexico, the United States, Germany, France, Colombia, Italy, South Korea and Peru lagged somewhat behind, together comprising a further X%.

Among the main suppliers, South Korea, 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 2023, reducing by X% against the previous year. Over the period under review, the import price saw a deep downturn. The pace of growth appeared the most rapid in 2013 an increase of X%. The import price peaked at $X per ton in 2014; however, from 2015 to 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was France ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by France (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform