Middle East: Glass Closure Market 2024

Glass Closure Market Size in the Middle East

The Middle Eastern glass closure market was estimated at $X in 2022, surging by 1.6% against the previous year. The market value increased at an average annual rate of +2.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Glass Closure Production in the Middle East

In value terms, glass closure production totaled $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.2% 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 when the production volume increased by 19% 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 the Middle East

In 2022, shipments abroad of glass stoppers, lids and other closures increased by 34% to X tons, rising for the second year in a row after two years of decline. In general, exports continue to indicate notable growth. The pace of growth appeared the most rapid in 2021 when exports increased by 128% against the previous year. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, glass closure exports skyrocketed to $X in 2022. Over the period under review, exports, however, showed a noticeable decline. The growth pace was the most rapid in 2018 when exports increased by 108% against the previous year. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Turkey (X tons) represented the key exporter of glass stoppers, lids and other closures, constituting 75% of total exports. It was distantly followed by Iran (X tons), mixing up an 18% share of total exports. The following exporters - the United Arab Emirates (X tons) and Oman (X tons) - each finished at 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 the Middle East, 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 -9.2% from 2012 to 2022, respectively.

In value terms, Turkey ($X) remains the largest glass closure supplier in the Middle East, comprising 82% of total exports. The second position in the ranking was taken by Oman ($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 stood at +13.0%. In the other countries, the average annual rates were as follows: Oman (+25.9% per year) and the United Arab Emirates (-8.6% per year).

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2022, growing by 5.5% against the previous year. In general, the export price, however, saw a drastic downturn. The most prominent rate of growth was recorded in 2016 an increase of 30% against the previous year. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: 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 the Middle East

In 2022, approx. X tons of glass stoppers, lids and other closures were imported in the Middle East; with a decrease of -5.8% compared with the previous year's figure. In general, imports saw a deep downturn. The most prominent rate of growth was recorded in 2020 when imports increased by 71% against the previous year. Over the period under review, imports reached the maximum at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, glass closure imports shrank to $X in 2022. Over the period under review, imports continue to indicate a noticeable shrinkage. The growth pace was the most rapid in 2020 when imports increased by 87% against the previous year. Over the period under review, imports reached the maximum at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Turkey represented the largest importing country with an import of around X tons, which finished at 34% of total imports. Syrian Arab Republic (X tons) took the second position in the ranking, followed by the United Arab Emirates (X tons), Qatar (X tons), Iran (X tons) and Israel (X tons). All these countries together took approx. 57% share of total imports. Iraq (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Syrian Arab Republic (with a CAGR of +28.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest glass closure importing markets in the Middle East were the United Arab Emirates ($X), Turkey ($X) and Qatar ($X), with a combined 59% share of total imports.

Qatar, with a CAGR of +24.0%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per ton, declining by -2.1% against the previous year. Import price indicated a pronounced increase from 2012 to 2022: its price increased at an average annual rate of +4.2% 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 +17.4% against 2018 indices. The pace of growth appeared the most rapid in 2021 when the import price increased by 36% against the previous year. As a result, import price reached the peak level of $X per ton, and then reduced slightly in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Iraq ($X per ton), while Syrian Arab Republic ($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

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