MENA: Glass Closure Market 2024

Glass Closure Market Size in MENA

The MENA's glass closure market totaled $X in 2022, remaining stable against the previous year. The market value increased at an average annual rate of +2.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Glass Closure Production in MENA

In value terms, glass closure production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2017 with an increase of 18% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Glass Closure Exports

Exports in MENA

In 2022, overseas shipments of glass stoppers, lids and other closures were finally on the rise to reach X tons for the first time since 2018, thus ending a three-year declining trend. Over the period under review, exports enjoyed a moderate expansion. The pace of growth appeared the most rapid in 2017 with an increase of 901% against the previous year. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, glass closure exports soared to $X in 2022. In general, exports, however, continue to indicate a perceptible shrinkage. The pace of growth was the most pronounced in 2017 when exports increased by 536%. Over the period under review, the exports attained the maximum at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Turkey represented the largest exporting country with an export of around X tons, which amounted to 75% of total exports. It was distantly followed by Iran (X tons), comprising an 18% share of total exports. The following exporters - the United Arab Emirates (X tons) and Oman (X tons) - each reached a 5.9% share of total exports.

Exports from Turkey increased at an average annual rate of +14.3% from 2012 to 2022. At the same time, Iran (+66.0%) and Oman (+14.7%) displayed positive paces of growth. Moreover, Iran emerged as the fastest-growing exporter exported in MENA, with a CAGR of +66.0% from 2012-2022. By contrast, the United Arab Emirates (-11.0%) illustrated a downward trend over the same period. Turkey (+50 p.p.), Iran (+18 p.p.) and Oman (+2 p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates saw its share reduced by -9% from 2012 to 2022, respectively.

In value terms, Turkey ($X) remains the largest glass closure supplier in MENA, comprising 82% of total exports. The second position in the ranking was taken by Oman ($X), with a 6.9% share of total exports. It was followed by the United Arab Emirates, with a 4.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Turkey totaled +13.0%. The remaining exporting countries recorded the following average annual rates of exports growth: Oman (+25.9% per year) and the United Arab Emirates (-8.6% per year).

Export Prices by Country

In 2022, the export price in MENA amounted to $X per ton, therefore, remained relatively stable against the previous year. Overall, the export price, however, continues to indicate a drastic downturn. The growth pace was the most rapid in 2021 when the export price increased by 107%. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Oman ($X per ton), while Iran ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (+9.8%), while the other leaders experienced mixed trends in the export price figures.

Glass Closure Imports

Imports in MENA

In 2022, approx. X tons of glass stoppers, lids and other closures were imported in MENA; reducing by -8.5% compared with 2021. Overall, imports recorded a deep contraction. The pace of growth was the most pronounced in 2013 with an increase of 30%. Over the period under review, imports attained the peak figure at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, glass closure imports dropped to $X in 2022. Over the period under review, imports showed a pronounced reduction. The most prominent rate of growth was recorded in 2013 with an increase of 26% against the previous year. Over the period under review, imports reached the peak figure at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Algeria (X tons) and Turkey (X tons) were the key importers of glass stoppers, lids and other closures in 2022, amounting to approx. 25% and 18% of total imports, respectively. Tunisia (X tons) held an 11% share (based on physical terms) of total imports, which put it in second place, followed by Syrian Arab Republic (9.8%), Morocco (9.3%), the United Arab Emirates (7.1%), Qatar (5.7%) and Iran (4.5%).

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Syrian Arab Republic (with a CAGR of +28.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Algeria ($X) constitutes the largest market for imported glass stoppers, lids and other closures in MENA, comprising 29% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 12% share of total imports. It was followed by Turkey, with a 12% share.

In Algeria, glass closure imports increased at an average annual rate of +19.7% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (-6.9% per year) and Turkey (-8.7% per year).

Import Prices by Country

In 2022, the import price in MENA amounted to $X per ton, approximately reflecting the previous year. Over the last decade, it increased at an average annual rate of +3.1%. The most prominent rate of growth was recorded in 2019 an increase of 29%. As a result, import price attained the peak level of $X per ton. From 2020 to 2022, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while Syrian Arab Republic ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform