MERCOSUR: Glass Closure Market 2024

Glass Closure Market Size in MERCOSUR

The MERCOSUR glass closure market shrank to $X in 2022, reducing by -2.3% against the previous year. The market value increased at an average annual rate of +4.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Glass Closure Production in MERCOSUR

In value terms, glass closure production dropped modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +4.2% 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 2014 when the production volume increased by 23%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Glass Closure Exports

Exports in MERCOSUR

In 2022, overseas shipments of glass stoppers, lids and other closures increased by 11% to X tons, rising for the fourth year in a row after four years of decline. Over the period under review, exports, however, recorded a pronounced decrease. The growth pace was the most rapid in 2019 with an increase of 348%. The volume of export peaked at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, glass closure exports declined to $X in 2022. Overall, exports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when exports increased by 287%. Over the period under review, the exports reached the maximum at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Colombia (X tons) represented the key exporter of glass stoppers, lids and other closures, creating 60% of total exports. It was distantly followed by Brazil (X tons), comprising a 32% share of total exports. The following exporters - Peru (X kg) and Chile (X kg) - each amounted to a 6.3% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Brazil (with a CAGR of +58.2%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, Brazil ($X), Colombia ($X) and Chile ($X) appeared to be the countries with the highest levels of exports in 2022, together comprising 96% of total exports.

Among the main exporting countries, Brazil, with a CAGR of +59.5%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in MERCOSUR stood at $X per ton in 2022, dropping by -11.8% against the previous year. In general, the export price, however, continues to indicate a noticeable expansion. The most prominent rate of growth was recorded in 2015 an increase of 1,331%. As a result, the export price attained the peak level of $X per ton. From 2016 to 2022, the export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Brazil ($X per ton), while Peru ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Chile (+20.2%), while the other leaders experienced more modest paces of growth.

Glass Closure Imports

Imports in MERCOSUR

After five years of growth, purchases abroad of glass stoppers, lids and other closures decreased by -48.6% to X tons in 2022. In general, imports, however, continue to indicate a strong expansion. The growth pace was the most rapid in 2015 when imports increased by 90% against the previous year. The volume of import peaked at X tons in 2021, and then dropped significantly in the following year.

In value terms, glass closure imports shrank rapidly to $X in 2022. Over the period under review, imports, however, enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2021 with an increase of 69% against the previous year. As a result, imports reached the peak of $X, and then fell sharply in the following year.

Imports by Country

Brazil represented the major importing country with an import of around X tons, which resulted at 75% of total imports. It was distantly followed by Colombia (X tons), achieving a 20% share of total imports. Ecuador (X tons) followed a long way behind the leaders.

Brazil was also the fastest-growing in terms of the glass stoppers, lids and other closures imports, with a CAGR of +12.8% from 2012 to 2022. At the same time, Ecuador (+7.5%) and Colombia (+7.0%) displayed positive paces of growth. Brazil (+11 p.p.) significantly strengthened its position in terms of the total imports, while Colombia saw its share reduced by -8.8% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) constitutes the largest market for imported glass stoppers, lids and other closures in MERCOSUR, comprising 78% of total imports. The second position in the ranking was taken by Colombia ($X), with a 16% share of total imports.

In Brazil, glass closure imports increased at an average annual rate of +10.9% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Colombia (+5.8% per year) and Ecuador (+5.5% per year).

Import Prices by Country

In 2022, the import price in MERCOSUR amounted to $X per ton, growing by 4.1% against the previous year. In general, the import price, however, continues to indicate a slight downturn. The growth pace was the most rapid in 2021 when the import price increased by 32%. Over the period under review, import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Brazil ($X per ton), while Ecuador ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Colombia (-1.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform