Northern America: Glass Closure Market 2024

Glass Closure Market Size in Northern America

The North American glass closure market expanded remarkably to $X in 2022, picking up by 6.3% against the previous year. The market value increased at an average annual rate of +3.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Glass Closure Production in Northern America

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 +3.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 with an increase of 29% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Glass Closure Exports

Exports in Northern America

In 2022, the amount of glass stoppers, lids and other closures exported in Northern America reduced dramatically to X tons, which is down by -25.8% against the previous year's figure. In general, exports recorded a abrupt descent. The growth pace was the most rapid in 2017 when exports increased by 55% against the previous year. The volume of export peaked at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, glass closure exports declined to $X in 2022. Overall, exports, however, showed a mild increase. The most prominent rate of growth was recorded in 2021 with an increase of 75%. As a result, the exports attained the peak of $X, and then fell in the following year.

Exports by Country

In 2022, the United States (X tons) was the key exporter of glass stoppers, lids and other closures, comprising 58% of total exports. It was distantly followed by Canada (X tons), achieving a 42% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Canada (with a CAGR of +17.2%).

In value terms, the United States ($X) remains the largest glass closure supplier in Northern America, comprising 93% of total exports. The second position in the ranking was held by Canada ($X), with a 6.9% share of total exports.

From 2012 to 2022, the average annual growth rate of value in the United States was relatively modest.

Export Prices by Country

The export price in Northern America stood at $X per ton in 2022, surging by 26% against the previous year. In general, the export price enjoyed a significant expansion. The pace of growth was the most pronounced in 2021 an increase of 311% against the previous year. The level of export peaked in 2022 and is likely to see steady growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United States ($X per ton), while Canada amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+29.9%).

Glass Closure Imports

Imports in Northern America

In 2022, the amount of glass stoppers, lids and other closures imported in Northern America dropped markedly to X tons, falling by -28.5% on the previous year's figure. Total imports indicated a notable increase from 2012 to 2022: its volume increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +9.4% against 2020 indices. The most prominent rate of growth was recorded in 2015 with an increase of 70% against the previous year. As a result, imports attained the peak of X tons. From 2016 to 2022, the growth of imports remained at a lower figure.

In value terms, glass closure imports fell rapidly to $X in 2022. Total imports indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -32.7% against 2018 indices. The growth pace was the most rapid in 2015 when imports increased by 51% against the previous year. As a result, imports reached the peak of $X. From 2016 to 2022, the growth of imports failed to regain momentum.

Imports by Country

The United States prevails in imports structure, resulting at X tons, which was approx. 94% of total imports in 2022. It was distantly followed by Canada (X tons), comprising a 6.1% share of total imports.

Imports into the United States increased at an average annual rate of +4.2% from 2012 to 2022. At the same time, Canada (+10.7%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing importer imported in Northern America, with a CAGR of +10.7% from 2012-2022. From 2012 to 2022, the share of Canada increased by +2.6 percentage points.

In value terms, the United States ($X) constitutes the largest market for imported glass stoppers, lids and other closures in Northern America, comprising 91% of total imports. The second position in the ranking was taken by Canada ($X), with a 9.1% share of total imports.

From 2012 to 2022, the average annual growth rate of value in the United States was relatively modest.

Import Prices by Country

The import price in Northern America stood at $X per ton in 2022, growing by 18% against the previous year. Over the period under review, the import price, however, continues to indicate a pronounced downturn. Over the period under review, import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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 Canada ($X per ton), while the United States amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+1.2%).

Source: IndexBox Platform

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