Bahrain: Glass Closure Market 2024

Glass Closure Market Size in Bahrain

The Bahraini glass closure market dropped modestly to $X in 2022, shrinking by -2.4% against the previous year. Overall, consumption, however, enjoyed a resilient increase. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Glass Closure Production in Bahrain

In value terms, glass closure production dropped modestly to $X in 2022 estimated in export price. Overall, production, however, saw a strong increase. The most prominent rate of growth was recorded in 2019 when the production volume increased by 97%. As a result, production attained the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Glass Closure Exports

Exports from Bahrain

In 2022, the amount of glass stoppers, lids and other closures exported from Bahrain reduced dramatically to X kg, waning by -34.3% against 2021. Overall, exports faced a dramatic curtailment. The growth pace was the most rapid in 2021 with an increase of 198%. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, glass closure exports declined significantly to $X in 2022. In general, exports showed a dramatic decline. The most prominent rate of growth was recorded in 2021 when exports increased by 243% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Kuwait (X kg) was the main destination for glass closure exports from Bahrain, accounting for a 96% share of total exports. Moreover, glass closure exports to Kuwait exceeded the volume sent to the second major destination, Saudi Arabia (X kg), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Kuwait totaled +4.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (-24.3% per year) and the United Arab Emirates (-54.7% per year).

In value terms, Kuwait ($X) remains the key foreign market for glass stoppers, lids and other closures exports from Bahrain, comprising 70% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a 23% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Kuwait was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (-12.8% per year) and the United Arab Emirates (-42.9% per year).

Export Prices by Country

In 2022, the average glass closure export price amounted to $X per ton, declining by -1.7% against the previous year. Over the period under review, the export price showed a pronounced setback. The most prominent rate of growth was recorded in 2020 an increase of 30%. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Kuwait ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+26.1%), while the prices for the other major destinations experienced mixed trend patterns.

Glass Closure Imports

Imports into Bahrain

Glass closure imports into Bahrain dropped notably to X kg in 2022, declining by -36.8% compared with the previous year's figure. In general, imports faced a abrupt decline. The pace of growth appeared the most rapid in 2014 when imports increased by 3,222%. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, glass closure imports declined remarkably to $X in 2022. Overall, imports showed a sharp decline. The most prominent rate of growth was recorded in 2014 when imports increased by 2,812%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The UK (X kg), the United Arab Emirates (X kg) and China (X kg) were the main suppliers of glass closure imports to Bahrain, with a combined 85% share of total imports.

From 2012 to 2022, the biggest increases were recorded for the UK (with a CAGR of +54.8%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, China ($X), the UK ($X) and Germany ($X) constituted the largest glass closure suppliers to Bahrain, together accounting for 81% of total imports.

Germany, with a CAGR of +25.6%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average glass closure import price stood at $X per ton in 2022, declining by -37.2% against the previous year. In general, the import price continues to indicate a perceptible decline. The growth pace was the most rapid in 2021 an increase of 202% against the previous year. As a result, import price attained the peak level of $X per ton, and then shrank remarkably in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+9.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform