CIS: Glass Closure Market 2024

Glass Closure Market Size in CIS

The CIS glass closure market totaled $X in 2022, surging by 2.3% against the previous year. The total consumption indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -2.2% against 2020 indices. Over the period under review, the market attained the peak level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Glass Closure Production in CIS

In value terms, glass closure production stood at $X in 2022 estimated in export price. The total production indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -1.0% against 2020 indices. The growth pace was the most rapid in 2018 with an increase of 66%. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Glass Closure Exports

Exports in CIS

In 2022, after three years of growth, there was decline in overseas shipments of glass stoppers, lids and other closures, when their volume decreased by -4.1% to X tons. In general, exports, however, saw a prominent increase. The pace of growth was the most pronounced in 2020 when exports increased by 71%. The volume of export peaked at X tons in 2021, and then shrank modestly in the following year.

In value terms, glass closure exports reduced to $X in 2022. Overall, exports, however, recorded a prominent increase. The most prominent rate of growth was recorded in 2021 with an increase of 52% against the previous year. As a result, the exports attained the peak of $X, and then dropped in the following year.

Exports by Country

The shipments of the two major exporters of glass stoppers, lids and other closures, namely Russia and Belarus, represented more than two-thirds of total export.

From 2012 to 2022, the biggest increases were recorded for Belarus (with a CAGR of +54.5%).

In value terms, Russia ($X) remains the largest glass closure supplier in the CIS, comprising 76% of total exports. The second position in the ranking was taken by Belarus ($X), with a 22% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Russia totaled +6.1%.

Export Prices by Country

In 2022, the export price in the CIS amounted to $X per ton, standing approx. at the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the export price increased by 29%. As a result, the export price attained the peak level of $X per ton. From 2019 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Russia ($X per ton), while Belarus totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+3.2%).

Glass Closure Imports

Imports in CIS

Glass closure imports amounted to X tons in 2022, rising by 4.6% compared with the previous year. Over the period under review, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 53%. Over the period under review, imports attained the maximum at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, glass closure imports contracted slightly to $X in 2022. Overall, imports recorded slight growth. The pace of growth was the most pronounced in 2017 with an increase of 47%. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Russia prevails in imports structure, accounting for X tons, which was approx. 88% of total imports in 2022. It was distantly followed by Belarus (X tons), mixing up a 7.5% share of total imports.

Russia experienced a relatively flat trend pattern with regard to volume of imports of glass stoppers, lids and other closures. At the same time, Belarus (+15.4%) displayed positive paces of growth. Moreover, Belarus emerged as the fastest-growing importer imported in the CIS, with a CAGR of +15.4% from 2012-2022. While the share of Belarus (+5.7 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Russia (-4.1 p.p.) displayed negative dynamics.

In value terms, Russia ($X) constitutes the largest market for imported glass stoppers, lids and other closures in the CIS, comprising 86% of total imports. The second position in the ranking was taken by Belarus ($X), with a 4.9% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in Russia amounted to +1.5%.

Import Prices by Country

In 2022, the import price in the CIS amounted to $X per ton, shrinking by -8.5% against the previous year. Over the last decade, it increased at an average annual rate of +1.4%. The most prominent rate of growth was recorded in 2018 an increase of 26% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2021, and then contracted in the following year.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Russia ($X per ton), while Belarus stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+1.8%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :