Ecuador: Glass Closure Market 2024

Glass Closure Market Size in Ecuador

The Ecuadorian glass closure market shrank modestly to $X in 2022, which is down by -2.1% against the previous year. Overall, consumption, however, enjoyed a prominent expansion. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Glass Closure Production in Ecuador

In value terms, glass closure production contracted to $X in 2022 estimated in export price. Over the period under review, production, however, enjoyed a prominent increase. The growth pace was the most rapid in 2019 when the production volume increased by 74% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Glass Closure Exports

Exports from Ecuador

After two years of growth, shipments abroad of glass stoppers, lids and other closures decreased by -4.3% to X kg in 2022. Overall, exports continue to indicate a significant curtailment. The pace of growth was the most pronounced in 2018 with an increase of 38%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, glass closure exports expanded sharply to $X in 2022. Over the period under review, exports recorded a sharp downturn. The pace of growth was the most pronounced in 2018 with an increase of 119%. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Peru (X kg) was the main destination for glass closure exports from Ecuador, with a 91% share of total exports. Moreover, glass closure exports to Peru exceeded the volume sent to the second major destination, France (X kg), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Peru stood at -27.4%.

In value terms, Peru ($X) remains the key foreign market for glass stoppers, lids and other closures exports from Ecuador, comprising 99% of total exports. The second position in the ranking was held by France ($X), with a 0.4% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Peru stood at -20.0%.

Export Prices by Country

The average glass closure export price stood at $X per ton in 2022, increasing by 10% against the previous year. Over the period under review, the export price posted strong growth. The pace of growth appeared the most rapid in 2017 an increase of 146% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat 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 Peru ($X per ton), while the average price for exports to France totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Peru (+10.1%).

Glass Closure Imports

Imports into Ecuador

In 2022, after three years of decline, there was growth in overseas purchases of glass stoppers, lids and other closures, when their volume increased by 4.1% to X tons. Over the period under review, imports recorded a prominent increase. The pace of growth appeared the most rapid in 2018 when imports increased by 73% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2022, the growth of imports remained at a lower figure.

In value terms, glass closure imports stood at $X in 2022. Overall, total imports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -38.5% against 2018 indices. The pace of growth appeared the most rapid in 2014 with an increase of 58% against the previous year. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) was the main supplier of glass closure to Ecuador, accounting for a 94% share of total imports. It was followed by Peru (X tons), with a 3% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +9.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Peru (+16.2% per year) and Italy (-19.3% per year).

In value terms, China ($X) constituted the largest supplier of glass stoppers, lids and other closures to Ecuador, comprising 91% of total imports. The second position in the ranking was held by Peru ($X), with a 0.7% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China stood at +8.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Peru (+0.7% per year) and Italy (-27.7% per year).

Import Prices by Country

In 2022, the average glass closure import price amounted to $X per ton, which is down by -3.6% against the previous year. Over the period under review, the import price showed a slight descent. The growth pace was the most rapid in 2017 an increase of 17%. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while the price for Peru ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Egypt (+1.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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