Luxembourg: Glass Closure Market 2024

Glass Closure Market Size in Luxembourg

The Luxembourg glass closure market amounted to $X in 2022, with an increase of 4.8% against the previous year. Overall, the total consumption indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +5.1% 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 -4.4% against 2020 indices. Glass closure consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Glass Closure Production in Luxembourg

In value terms, glass closure production expanded notably to $X in 2022 estimated in export price. In general, the total production indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +5.4% 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 -5.7% against 2020 indices. The pace of growth was the most pronounced in 2018 when the production volume increased by 36% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Glass Closure Exports

Exports from Luxembourg

Glass closure exports from Luxembourg skyrocketed to X kg in 2022, picking up by 79% against 2021. Over the period under review, exports continue to indicate a buoyant increase. The growth pace was the most rapid in 2017 when exports increased by 1,584% against the previous year. Over the period under review, the exports hit record highs at X kg in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, glass closure exports expanded markedly to $X in 2022. In general, exports posted notable growth. The pace of growth was the most pronounced in 2017 when exports increased by 860% against the previous year. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Belgium (X kg) was the main destination for glass closure exports from Luxembourg, with a 67% share of total exports. Moreover, glass closure exports to Belgium exceeded the volume sent to the second major destination, Germany (X kg), twofold.

From 2012 to 2022, the average annual growth rate of volume to Belgium totaled +38.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-2.5% per year) and France (-25.7% per year).

In value terms, Belgium ($X) remains the key foreign market for glass stoppers, lids and other closures exports from Luxembourg, comprising 67% of total exports. The second position in the ranking was held by Germany ($X), with a 28% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Belgium amounted to +20.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+1.0% per year) and France (-17.4% per year).

Export Prices by Country

The average glass closure export price stood at $X per ton in 2022, falling by -40.4% against the previous year. In general, the export price showed a pronounced setback. The most prominent rate of growth was recorded in 2013 an increase of 127%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Germany ($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 France (+11.2%), while the prices for the other major destinations experienced mixed trend patterns.

Glass Closure Imports

Imports into Luxembourg

Glass closure imports into Luxembourg rose to X tons in 2022, with an increase of 3.2% on 2021 figures. In general, imports showed resilient growth. The pace of growth was the most pronounced in 2020 when imports increased by 129%. As a result, imports attained 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 dropped to $X in 2022. Overall, imports saw moderate growth. The most prominent rate of growth was recorded in 2020 with an increase of 150% against the previous year. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports failed to regain momentum.

Imports by Country

China (X tons), Belgium (X tons) and France (X kg) were the main suppliers of glass closure imports to Luxembourg, with a combined 91% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +43.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest glass closure suppliers to Luxembourg were Belgium ($X), China ($X) and Germany ($X), together comprising 78% of total imports.

China, with a CAGR of +43.4%, recorded the highest growth rate of the value of imports, in terms of 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, shrinking by -10.1% against the previous year. In general, the import price showed a abrupt shrinkage. The growth pace was the most rapid in 2018 when the average import price increased by 24%. Over the period under review, average import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Switzerland (+3.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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