New Zealand: Glass Closure Market 2024

Glass Closure Market Size in New Zealand

The New Zealand glass closure market reduced to $X in 2022, approximately reflecting the previous year. Overall, consumption saw a perceptible decrease. Over the period under review, the market attained the peak level at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Glass Closure Production in New Zealand

In value terms, glass closure production contracted to $X in 2022 estimated in export price. Overall, production continues to indicate a perceptible decrease. The pace of growth appeared the most rapid in 2014 with an increase of 50%. Glass closure production peaked at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Glass Closure Exports

Exports from New Zealand

In 2022, approx. X tons of glass stoppers, lids and other closures were exported from New Zealand; which is down by -73.2% against the year before. Over the period under review, exports, however, enjoyed a resilient increase. The growth pace was the most rapid in 2017 when exports increased by 796% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, glass closure exports shrank significantly to $X in 2022. Overall, exports, however, enjoyed resilient growth. The most prominent rate of growth was recorded in 2017 when exports increased by 510%. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for glass closure exports from New Zealand, accounting for a 75% share of total exports. Moreover, glass closure exports to the United States exceeded the volume sent to the second major destination, Australia (X kg), fourfold. Sri Lanka (X kg) ranked third in terms of total exports with a 4.4% share.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to +70.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+4.3% per year) and Sri Lanka (0.0% per year).

In value terms, the United States ($X) emerged as the key foreign market for glass stoppers, lids and other closures exports from New Zealand, comprising 75% of total exports. The second position in the ranking was taken by Australia ($X), with a 19% share of total exports. It was followed by Sri Lanka, with a 4.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at +68.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+2.3% per year) and Sri Lanka (0.0% per year).

Export Prices by Country

The average glass closure export price stood at $X per ton in 2022, dropping by -23.5% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the average export price increased by 33%. As a result, the export price reached the peak level of $X per ton, and then fell remarkably in the following year.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Fiji ($X per ton) and Australia ($X per ton), while the average price for exports to the United States ($X per ton) and Sri Lanka ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Samoa (+9.1%), while the prices for the other major destinations experienced a decline.

Glass Closure Imports

Imports into New Zealand

In 2022, the amount of glass stoppers, lids and other closures imported into New Zealand soared to X tons, increasing by 23% compared with the previous year. In general, imports continue to indicate buoyant growth. The pace of growth appeared the most rapid in 2014 when imports increased by 171% against the previous year. Imports peaked in 2022 and are likely to continue growth in years to come.

In value terms, glass closure imports surged to $X in 2022. Overall, imports recorded strong growth. The most prominent rate of growth was recorded in 2016 when imports increased by 125% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

Imports by Country

China (X tons), the Czech Republic (X tons) and Australia (X tons) were the main suppliers of glass closure imports to New Zealand, together comprising 90% of total imports. France, Germany, the UK, Mexico and the United States lagged somewhat behind, together comprising a further 8.2%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the UK (with a CAGR of +46.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest glass closure suppliers to New Zealand were China ($X), the Czech Republic ($X) and Australia ($X), together accounting for 90% of total imports. France, Germany, the UK, Mexico and the United States lagged somewhat behind, together comprising a further 8.2%.

Among the main suppliers, the UK, with a CAGR of +50.5%, recorded the highest growth rate of 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, rising by 22% against the previous year. In general, the import price, however, showed a pronounced descent. The pace of growth appeared the most rapid in 2013 an increase of 41%. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the average import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Mexico ($X per ton) and the UK ($X per ton), while the price for China ($X per ton) and France ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+6.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :