Estonia: Glass Closure Market 2024

Glass Closure Market Size in Estonia

The Estonian glass closure market totaled $X in 2022, with an increase of 12% against the previous year. Over the period under review, the total consumption indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +4.8% 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 +68.5% against 2014 indices. Glass closure consumption peaked in 2022 and is expected to retain growth in the near future.

Glass Closure Production in Estonia

In value terms, glass closure production skyrocketed to $X in 2022 estimated in export price. Overall, production saw a strong increase. The pace of growth was the most pronounced in 2019 when the production volume increased by 125% against the previous year. Glass closure production peaked in 2022 and is likely to see steady growth in the near future.

Glass Closure Exports

Exports from Estonia

In 2022, approx. X kg of glass stoppers, lids and other closures were exported from Estonia; which is down by -46.2% compared with the previous year's figure. Overall, exports continue to indicate a deep slump. The pace of growth was the most pronounced in 2013 with an increase of 387%. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, glass closure exports declined markedly to $X in 2022. Over the period under review, exports continue to indicate a abrupt downturn. The pace of growth was the most pronounced in 2013 when exports increased by 138% against the previous year. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Lithuania (X kg) and Latvia (X kg) were the main destinations of glass closure exports from Estonia.

From 2012 to 2022, the biggest increases were recorded for Lithuania (with a CAGR of +80.8%).

In value terms, the largest markets for glass closure exported from Estonia were Lithuania ($X) and Latvia ($X).

Lithuania, with a CAGR of +133.1%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review.

Export Prices by Country

The average glass closure export price stood at $X per ton in 2022, approximately reflecting the previous year. Overall, the export price showed a temperate increase. The most prominent rate of growth was recorded in 2020 when the average export price increased by 121% against the previous year. Over the period under review, the average export prices reached the maximum in 2022 and is expected to retain growth in years to come.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Latvia ($X per ton), while the average price for exports to Lithuania totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Lithuania (+29.0%), while the prices for the other major destinations experienced more modest paces of growth.

Glass Closure Imports

Imports into Estonia

In 2022, purchases abroad of glass stoppers, lids and other closures increased by 13% to X tons, rising for the third year in a row after four years of decline. In general, imports continue to indicate a strong expansion. The growth pace was the most rapid in 2015 when imports increased by 94%. As a result, imports reached the peak of X tons. From 2016 to 2022, the growth of imports failed to regain momentum.

In value terms, glass closure imports reached $X in 2022. Overall, imports continue to indicate a tangible increase. The pace of growth was the most pronounced in 2015 when imports increased by 105%. Imports peaked at $X in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of glass closure to Estonia, with a 52% share of total imports. Moreover, glass closure imports from China exceeded the figures recorded by the second-largest supplier, Poland (X tons), threefold. The Czech Republic (X tons) ranked third in terms of total imports with an 8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +45.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+72.0% per year) and the Czech Republic (+174.4% per year).

In value terms, China ($X) constituted the largest supplier of glass stoppers, lids and other closures to Estonia, comprising 47% of total imports. The second position in the ranking was taken by Slovakia ($X), with a 12% share of total imports. It was followed by Poland, with a 10% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +48.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Slovakia (+76.6% per year) and Poland (+44.9% per year).

Import Prices by Country

In 2022, the average glass closure import price amounted to $X per ton, flattening at the previous year. Over the period under review, the import price saw a pronounced decline. The most prominent rate of growth was recorded in 2016 an increase of 31%. The import price peaked at $X per ton in 2012; however, from 2013 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 Slovakia ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Slovakia (+9.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform