Saudi Arabia: Plastic Closure Market 2024

Plastic Closure Market Size in Saudi Arabia

The Saudi plastic closure market amounted to $X in 2023, picking up by X% against the previous year. Over the period under review, the total consumption indicated a prominent increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2021 indices. Over the period under review, the market reached the peak level at $X in 2017; however, from 2018 to 2023, consumption stood at a somewhat lower figure.

Plastic Closure Production in Saudi Arabia

In value terms, plastic closure production rose significantly to $X in 2023 estimated in export price. Overall, production enjoyed a strong expansion. The growth pace was the most rapid in 2015 when the production volume increased by X% against the previous year. Plastic closure production peaked at $X in 2017; however, from 2018 to 2023, production failed to regain momentum.

Plastic Closure Exports

Exports from Saudi Arabia

In 2023, after two years of decline, there was significant growth in overseas shipments of plastic stoppers, caps and closures, when their volume increased by X% to X tons. Over the period under review, exports, however, showed a relatively flat trend pattern. The exports peaked at X tons in 2020; however, from 2021 to 2023, the exports stood at a somewhat lower figure.

In value terms, plastic closure exports soared to $X in 2023. In general, exports, however, saw a pronounced slump. Over the period under review, the exports hit record highs at $X in 2020; however, from 2021 to 2023, the exports failed to regain momentum.

Exports by Country

Yemen (X tons), Sudan (X tons) and the United Arab Emirates (X tons) were the main destinations of plastic closure exports from Saudi Arabia, with a combined X% share of total exports. Spain, Iraq, Kuwait, Somalia, Egypt, Bahrain, Oman, Algeria, Jordan and Morocco lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the biggest increases were recorded for Spain (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

It was followed by the United Arab Emirates, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value to Yemen amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sudan (X% per year) and the United Arab Emirates (X% per year).

Export Prices by Country

In 2023, the average plastic closure export price amounted to $X per ton, approximately reflecting the previous year. Overall, the export price, however, continues to indicate a mild slump. 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 2012; however, from 2013 to 2023, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2023, amid the top suppliers, the country with the highest price was Algeria ($X per ton), while the average price for exports to Spain ($X per ton) was amongst the lowest.

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

Plastic Closure Imports

Imports into Saudi Arabia

In 2023, overseas purchases of plastic stoppers, caps and closures decreased by X% to X tons, falling for the fourth year in a row after three years of growth. In general, imports saw a abrupt decrease. The pace of growth appeared the most rapid in 2017 when imports increased by X% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2023, imports failed to regain momentum.

In value terms, plastic closure imports totaled $X in 2023. Overall, imports continue to indicate a abrupt slump. The pace of growth appeared the most rapid in 2018 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2023, imports stood at a somewhat lower figure.

Imports by Country

The United Arab Emirates (X tons), China (X tons) and Bahrain (X tons) were the main suppliers of plastic closure imports to Saudi Arabia, with a combined X% share of total imports. Spain, Germany, Egypt, Italy, Taiwan (Chinese), India, Jordan and France lagged somewhat behind, together comprising a further X%.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (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 Saudi Arabia were China ($X), the United Arab Emirates ($X) and Bahrain ($X), together comprising X% of total imports. Germany, Spain, Italy, Egypt, France, Jordan, Taiwan (Chinese) and India lagged somewhat behind, together comprising a further X%.

Spain, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the average plastic closure import price amounted to $X per ton, remaining relatively unchanged against the previous year. Over the period under review, the import price continues to indicate a slight descent. The growth pace was the most rapid in 2018 when the average import price increased by X%. The import price peaked at $X per ton in 2013; however, from 2014 to 2023, import prices failed to regain momentum.

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 ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform