Spain: Plastic Closure Market 2024

Plastic Closure Market Size in Spain

The Spanish plastic closure market reached $X in 2023, almost unchanged from the previous year. Over the period under review, the total consumption indicated a tangible 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 2015 indices. Over the period under review, the market attained the maximum level in 2023 and is expected to retain growth in the immediate term.

Plastic Closure Production in Spain

In value terms, plastic closure production shrank to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2020 with an increase of X%. Over the period under review, production reached the maximum level at $X in 2022, and then dropped slightly in the following year.

Plastic Closure Exports

Exports from Spain

After three years of decline, overseas shipments of plastic stoppers, caps and closures increased by X% to X tons in 2023. The total export volume increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2023, the exports remained at a lower figure.

In value terms, plastic closure exports reduced to $X in 2023. The total export value increased at an average annual rate of X% from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2022, and then contracted modestly in the following year.

Exports by Country

France (X tons), Portugal (X tons) and Morocco (X tons) were the main destinations of plastic closure exports from Spain, together comprising X% of total exports. Italy, Germany, South Africa, the UK, the Netherlands, Poland, the United States, Mexico, Belgium and Algeria lagged somewhat behind, together comprising a further X%.

From 2012 to 2023, 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, France ($X) remains the key foreign market for plastic stoppers, caps and closures exports from Spain, comprising X% of total exports. The second position in the ranking was taken by Portugal ($X), with an X% share of total exports. It was followed by Italy, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value to France totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Portugal (X% per year) and Italy (X% per year).

Export Prices by Country

In 2023, the average plastic closure export price amounted to $X per ton, dropping by X% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 an increase of X% against the previous year. The export price peaked at $X per ton in 2022, and then reduced in the following year.

There were significant differences in the average prices for the major export markets. In 2023, amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to Portugal ($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 Belgium (X%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Closure Imports

Imports into Spain

In 2023, overseas purchases 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, imports showed a strong increase. The pace of growth was the most pronounced in 2018 when imports increased by X% against the previous year. Imports peaked in 2023 and are likely to see gradual growth in the immediate term.

In value terms, plastic closure imports reached $X in 2023. Overall, total imports indicated a buoyant expansion 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, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. Over the period under review, imports hit record highs in 2023 and are expected to retain growth in the immediate term.

Imports by Country

In 2023, Portugal (X tons) constituted the largest plastic closure supplier to Spain, accounting for a X% share of total imports. Moreover, plastic closure imports from Portugal exceeded the figures recorded by the second-largest supplier, Italy (X tons), threefold. The third position in this ranking was taken by Germany (X tons), with a X% share.

From 2012 to 2023, the average annual growth rate of volume from Portugal amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (X% per year) and Germany (X% per year).

In value terms, France ($X), Germany ($X) and Italy ($X) were the largest plastic closure suppliers to Spain, together accounting for X% of total imports. Portugal, the Netherlands, Belgium and the UK lagged somewhat behind, together comprising a further X%.

The Netherlands, with a CAGR of X%, recorded 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, rising by X% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2016; however, from 2017 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 ($X per ton), while the price for Portugal ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform