Lithuania: Glass Closure Market 2024

Glass Closure Market Size in Lithuania

The Lithuanian glass closure market surged to $X in 2022, increasing by 35% against the previous year. Overall, consumption enjoyed a pronounced increase. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Glass Closure Production in Lithuania

In value terms, glass closure production surged to $X in 2022 estimated in export price. Overall, production showed a temperate increase. The most prominent rate of growth was recorded in 2017 with an increase of 131% against the previous year. Glass closure production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Glass Closure Exports

Exports from Lithuania

In 2022, overseas shipments of glass stoppers, lids and other closures decreased by -48.6% to X tons for the first time since 2016, thus ending a five-year rising trend. In general, exports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when exports increased by 223% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then declined significantly in the following year.

In value terms, glass closure exports dropped dramatically to $X in 2022. Overall, exports, however, posted prominent growth. The most prominent rate of growth was recorded in 2017 when exports increased by 213% against the previous year. Over the period under review, the exports reached the maximum at $X in 2021, and then dropped rapidly in the following year.

Exports by Country

Latvia (X tons) was the main destination for glass closure exports from Lithuania, with a 82% share of total exports. Moreover, glass closure exports to Latvia exceeded the volume sent to the second major destination, Estonia (X tons), sevenfold. Russia (X kg) ranked third in terms of total exports with a 2.4% share.

From 2012 to 2022, the average annual growth rate of volume to Latvia totaled +41.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Estonia (+82.6% per year) and Russia (-30.1% per year).

In value terms, Latvia ($X) remains the key foreign market for glass stoppers, lids and other closures exports from Lithuania, comprising 83% of total exports. The second position in the ranking was taken by Estonia ($X), with a 5.8% share of total exports. It was followed by Kazakhstan, with a 5.2% share.

From 2012 to 2022, the average annual growth rate of value to Latvia stood at +41.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Estonia (+54.3% per year) and Kazakhstan (+45.8% per year).

Export Prices by Country

The average glass closure export price stood at $X per ton in 2022, waning by -9.9% against the previous year. In general, export price indicated resilient growth from 2012 to 2022: its price increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, glass closure export price increased by +9.6% against 2020 indices. The pace of growth appeared the most rapid in 2013 when the average export price increased by 40%. The export price peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Kazakhstan ($X per ton), while the average price for exports to Estonia ($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 Russia (+9.2%), while the prices for the other major destinations experienced more modest paces of growth.

Glass Closure Imports

Imports into Lithuania

In 2022, glass closure imports into Lithuania contracted sharply to X tons, waning by -28.8% compared with the year before. In general, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of 44%. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, glass closure imports shrank notably to $X in 2022. Overall, total imports indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when imports increased by 70%. Over the period under review, imports reached the peak figure at $X in 2021, and then declined sharply in the following year.

Imports by Country

France (X tons), Poland (X tons) and China (X tons) were the main suppliers of glass closure imports to Lithuania, together accounting for 61% of total imports. Italy, Germany, the Czech Republic, Latvia, Slovenia and Estonia lagged somewhat behind, together accounting for a further 36%.

From 2012 to 2022, the biggest increases were recorded for the Czech Republic (with a CAGR of +52.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest glass closure suppliers to Lithuania were Poland ($X), China ($X) and Italy ($X), with a combined 59% share of total imports. Germany, France, Slovenia, Latvia, the Czech Republic and Estonia lagged somewhat behind, together comprising a further 36%.

In terms of the main suppliers, the Czech Republic, with a CAGR of +58.1%, saw the highest rates of growth with regard to 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 average glass closure import price stood at $X per ton in 2022, surging by 5.9% against the previous year. Over the period under review, import price indicated a measured expansion from 2012 to 2022: its price increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, glass closure import price increased by +71.4% against 2017 indices. The most prominent rate of growth was recorded in 2021 when the average import price increased by 23% against the previous year. Over the period under review, average import prices attained the maximum in 2022 and is likely to see gradual growth in years to come.

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 Estonia ($X per ton), while the price for France ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Estonia (+30.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform