Africa: Glass Closure Market 2024

Glass Closure Market Size in Africa

The African glass closure market was estimated at $X in 2022, surging by 1.7% against the previous year. Overall, consumption continues to indicate a buoyant expansion. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Glass Closure Production in Africa

In value terms, glass closure production totaled $X in 2022 estimated in export price. Over the period under review, production continues to indicate a resilient increase. The pace of growth was the most pronounced in 2017 with an increase of 22%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Glass Closure Exports

Exports in Africa

In 2022, overseas shipments of glass stoppers, lids and other closures were finally on the rise to reach X tons for the first time since 2018, thus ending a three-year declining trend. Overall, exports, however, continue to indicate a pronounced decrease. The pace of growth appeared the most rapid in 2015 when exports increased by 10,084%. The volume of export peaked at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, glass closure exports surged to $X in 2022. Over the period under review, exports, however, saw a abrupt contraction. The pace of growth was the most pronounced in 2015 when exports increased by 3,666%. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Benin was the major exporter of glass stoppers, lids and other closures in Africa, with the volume of exports recording X tons, which was approx. 83% of total exports in 2022. It was distantly followed by South Africa (X tons), comprising a 16% share of total exports.

Benin was also the fastest-growing in terms of the glass stoppers, lids and other closures exports, with a CAGR of +85.4% from 2012 to 2022. South Africa (-2.2%) illustrated a downward trend over the same period. Benin (+83 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest glass closure supplying countries in Africa were Benin ($X) and South Africa ($X).

Benin, with a CAGR of +117.1%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review.

Export Prices by Country

In 2022, the export price in Africa amounted to $X per ton, waning by -64.7% against the previous year. In general, the export price showed a noticeable decrease. The most prominent rate of growth was recorded in 2014 an increase of 287%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was South Africa ($X per ton), while Benin stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Benin (+17.0%).

Glass Closure Imports

Imports in Africa

In 2022, purchases abroad of glass stoppers, lids and other closures decreased by -27.2% to X tons, falling for the second consecutive year after four years of growth. In general, imports, however, showed a prominent expansion. The pace of growth appeared the most rapid in 2018 with an increase of 94%. Over the period under review, imports hit record highs at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, glass closure imports reduced notably to $X in 2022. Overall, imports, however, saw a buoyant increase. The most prominent rate of growth was recorded in 2018 when imports increased by 136%. Over the period under review, imports reached the peak figure at $X in 2021, and then shrank notably in the following year.

Imports by Country

Nigeria was the major importer of glass stoppers, lids and other closures in Africa, with the volume of imports recording X tons, which was approx. 45% of total imports in 2022. Algeria (X tons) took the second position in the ranking, distantly followed by Tunisia (X tons), Benin (X tons) and Morocco (X tons). All these countries together took approx. 39% share of total imports. The following importers - Cote d'Ivoire (X tons) and Ghana (X tons) - together made up 5.1% of total imports.

From 2012 to 2022, average annual rates of growth with regard to glass closure imports into Nigeria stood at +22.5%. At the same time, Benin (+77.0%), Cote d'Ivoire (+58.7%), Ghana (+36.2%), Morocco (+20.0%), Algeria (+15.7%) and Tunisia (+7.0%) displayed positive paces of growth. Moreover, Benin emerged as the fastest-growing importer imported in Africa, with a CAGR of +77.0% from 2012-2022. While the share of Nigeria (+29 p.p.), Algeria (+6.8 p.p.), Benin (+6.8 p.p.), Morocco (+3.8 p.p.), Cote d'Ivoire (+2.6 p.p.) and Ghana (+2.1 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Tunisia (-2.6 p.p.) displayed negative dynamics.

In value terms, the largest glass closure importing markets in Africa were Nigeria ($X), Algeria ($X) and Tunisia ($X), together accounting for 71% of total imports. Morocco, Cote d'Ivoire, Ghana and Benin lagged somewhat behind, together comprising a further 15%.

Among the main importing countries, Cote d'Ivoire, with a CAGR of +52.2%, 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 import price in Africa stood at $X per ton in 2022, reducing by -14.8% against the previous year. In general, the import price saw a noticeable decrease. The most prominent rate of growth was recorded in 2021 when the import price increased by 84%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Cote d'Ivoire ($X per ton), while Benin ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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