Plastic Bottle Market

The global market for carboys, bottles, and similar plastic articles is projected to increase steadily over the next eight years. Market performance is forecasted to expand with a CAGR of 4.6% in terms of volume and 5.9% in value from 2022 to 2030. Consumption of plastic bottles declined in 2022 but showed resilient growth overall from 2012 to 2022. Countries like Turkey, China, and the United States lead in both consumption and production of plastic bottles. Import and export trends also indicate steady growth, with China and Belgium being major exporters. Prices of plastic bottle imports and exports vary by country, with the United States having the highest export price and Canada the highest import price. Overall, the global market for carboys, bottles, and similar plastic articles is expected to continue its upward trend in the coming years.

Market Forecast

Driven by increasing demand for carboys, bottles and similar articles of plastics worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +4.6% for the period from 2022 to 2030, which is projected to bring the market volume to 69M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +5.9% for the period from 2022 to 2030, which is projected to bring the market value to $266.6B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Carboys, Bottles and Similar Articles of Plastics

In 2022, global consumption of carboys, bottles and similar articles of plastics declined to 48M tons, which is down by -12.8% compared with the previous year's figure. Overall, the total consumption indicated resilient growth from 2012 to 2022: its volume increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +17.0% against 2020 indices. As a result, consumption reached the peak volume of 55M tons, and then dropped in the following year.

The global plastic bottle market value fell modestly to $169B in 2022, reducing by -2.5% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +3.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Global consumption peaked at $173.2B in 2021, and then fell slightly in the following year.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were Turkey (12M tons), China (6.8M tons) and the United States (2.8M tons), together accounting for 45% of global consumption.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by Turkey (with a CAGR of +26.1%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, China ($44.1B) led the market, alone. The second position in the ranking was held by Turkey ($17B). It was followed by the United States.

In China, the plastic bottle market expanded at an average annual rate of +4.6% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of market growth: Turkey (+22.3% per year) and the United States (-0.1% per year).

In 2022, the highest levels of plastic bottle per capita consumption was registered in Turkey (142 kg per person), followed by the United States (8.3 kg per person), Mexico (6.4 kg per person) and China (4.8 kg per person), while the world average per capita consumption of plastic bottle was estimated at 0.1 kg per person.

In Turkey, plastic bottle per capita consumption increased at an average annual rate of +24.4% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: the United States (+0.2% per year) and Mexico (+3.2% per year).

Production

World Production of Carboys, Bottles and Similar Articles of Plastics

In 2022, the amount of carboys, bottles and similar articles of plastics produced worldwide shrank to 48M tons, falling by -12.8% on 2021 figures. Overall, the total production indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +17.1% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 34% against the previous year. As a result, production attained the peak volume of 55M tons, and then shrank in the following year.

In value terms, plastic bottle production rose to $160.9B in 2022 estimated in export price. The total output value increased at an average annual rate of +3.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 16%. Global production peaked at $168.8B in 2019; however, from 2020 to 2022, production failed to regain momentum.

Production By Country

The countries with the highest volumes of production in 2022 were Turkey (12M tons), China (7M tons) and the United States (2.6M tons), together accounting for 46% of global production.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +25.6%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Carboys, Bottles and Similar Articles of Plastics

In 2022, global imports of carboys, bottles and similar articles of plastics rose to 3M tons, picking up by 2.3% against the previous year. The total import volume increased at an average annual rate of +3.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 12%. Global imports peaked in 2022 and are likely to see gradual growth in the immediate term.

In value terms, plastic bottle imports reached $11B in 2022. The total import value increased at an average annual rate of +3.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 with an increase of 11% against the previous year. Global imports peaked in 2022 and are likely to see steady growth in years to come.

Imports By Country

Belgium (264K tons), the United States (232K tons) and Germany (229K tons) represented roughly 24% of total imports in 2022. It was followed by France (149K tons), generating a 5% share of total imports. The following importers - the Netherlands (133K tons), Brazil (109K tons), Canada (83K tons), Italy (79K tons), the UK (75K tons), Spain (73K tons), Japan (55K tons), Poland (51K tons) and Iraq (48K tons) - together made up 23% of total imports.

From 2012 to 2022, the biggest increases were recorded for Belgium (with a CAGR of +13.6%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest plastic bottle importing markets worldwide were the United States ($1.3B), Germany ($805M) and France ($713M), together comprising 25% of global imports. Canada, Belgium, the Netherlands, the UK, Italy, Japan, Spain, Brazil, Poland and Iraq lagged somewhat behind, together accounting for a further 31%.

Italy, with a CAGR of +6.2%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average plastic bottle import price stood at $3,645 per ton in 2022, increasing by 5.8% 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 6.6%. Global import price peaked at $3,796 per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Canada ($6,673 per ton), while Iraq ($1,426 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+3.4%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Carboys, Bottles and Similar Articles of Plastics

In 2022, approx. 2.8M tons of carboys, bottles and similar articles of plastics were exported worldwide; growing by 4.7% compared with the previous year. The total export volume increased at an average annual rate of +2.8% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2018 with an increase of 9.2%. Over the period under review, the global exports hit record highs in 2022 and are likely to continue growth in the near future.

In value terms, plastic bottle exports expanded rapidly to $11.9B in 2022. The total export value increased at an average annual rate of +3.6% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2018 with an increase of 14%. The global exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports By Country

China (278K tons) and Belgium (240K tons) represented the major exporters of carboys, bottles and similar articles of plastics in 2022, resulting at approx. 10% and 8.6% of total exports, respectively. It was followed by Germany (146K tons), creating a 5.2% share of total exports. The following exporters - the Netherlands (125K tons), Turkey (108K tons), Lithuania (108K tons), El Salvador (87K tons), Luxembourg (87K tons), Uruguay (84K tons), the United States (83K tons), Mexico (81K tons), France (81K tons) and Spain (74K tons) - together made up 33% of total exports.

From 2012 to 2022, the biggest increases were recorded for Belgium (with a CAGR of +13.1%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, China ($2.5B) remains the largest plastic bottle supplier worldwide, comprising 21% of global exports. The second position in the ranking was taken by Germany ($868M), with a 7.3% share of global exports. It was followed by the United States, with a 7% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China totaled +11.4%. In the other countries, the average annual rates were as follows: Germany (+1.2% per year) and the United States (+0.8% per year).

Export Prices By Country

The average plastic bottle export price stood at $4,254 per ton in 2022, picking up by 1.8% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 7.2% against the previous year. The global export price peaked in 2022 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United States ($10,010 per ton), while Belgium ($1,957 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+7.5%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform