Scandinavia: Glass Closure Market 2024

Glass Closure Market Size in Scandinavia

The Scandinavia glass closure market reduced modestly to $X in 2022, approximately equating the previous year. The total consumption indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by +0.2% against 2020 indices. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Glass Closure Production in Scandinavia

In value terms, glass closure production declined slightly to $X in 2022 estimated in export price. The total production indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by +0.2% against 2020 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by 23% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Glass Closure Exports

Exports in Scandinavia

In 2022, overseas shipments of glass stoppers, lids and other closures increased by 4.4% to X tons, rising for the fifth consecutive year after two years of decline. Over the period under review, exports posted prominent growth. The most prominent rate of growth was recorded in 2020 when exports increased by 133%. The volume of export peaked in 2022 and is expected to retain growth in the near future.

In value terms, glass closure exports contracted to $X in 2022. Overall, exports enjoyed a prominent increase. The growth pace was the most rapid in 2020 when exports increased by 130% against the previous year. The level of export peaked at $X in 2021, and then fell modestly in the following year.

Exports by Country

Sweden dominates exports structure, accounting for X tons, which was approx. 92% of total exports in 2022. It was distantly followed by Norway (X tons), committing a 5.1% share of total exports. Finland (X kg) followed a long way behind the leaders.

Exports from Sweden increased at an average annual rate of +8.8% from 2012 to 2022. At the same time, Finland (+17.7%) and Norway (+14.5%) displayed positive paces of growth. Moreover, Finland emerged as the fastest-growing exporter exported in Scandinavia, with a CAGR of +17.7% from 2012-2022. While the share of Norway (+1.9 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Sweden (-3.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Sweden ($X) remains the largest glass closure supplier in Scandinavia, comprising 95% of total exports. The second position in the ranking was taken by Finland ($X), with a 4.2% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Sweden stood at +10.9%. In the other countries, the average annual rates were as follows: Finland (+17.5% per year) and Norway (+0.8% per year).

Export Prices by Country

In 2022, the export price in Scandinavia amounted to $X per ton, shrinking by -4.4% against the previous year. Export price indicated a modest increase from 2012 to 2022: its price 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, glass closure export price decreased by -12.9% against 2018 indices. The growth pace was the most rapid in 2013 an increase of 122% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the export prices remained at a somewhat 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 Finland ($X per ton), while Norway ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+2.0%), while the other leaders experienced a decline in the export price figures.

Glass Closure Imports

Imports in Scandinavia

In 2022, the amount of glass stoppers, lids and other closures imported in Scandinavia expanded significantly to X tons, with an increase of 6.9% on the previous year. Overall, imports posted a prominent increase. The most prominent rate of growth was recorded in 2018 when imports increased by 137% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the near future.

In value terms, glass closure imports expanded remarkably to $X in 2022. In general, imports continue to indicate resilient growth. The growth pace was the most rapid in 2018 with an increase of 75% against the previous year. The level of import peaked in 2022 and is likely to see steady growth in the immediate term.

Imports by Country

Sweden was the major importing country with an import of around X tons, which finished at 65% of total imports. Finland (X tons) held a 20% share (based on physical terms) of total imports, which put it in second place, followed by Norway (15%).

From 2012 to 2022, average annual rates of growth with regard to glass closure imports into Sweden stood at +6.3%. At the same time, Finland (+40.0%) and Norway (+3.4%) displayed positive paces of growth. Moreover, Finland emerged as the fastest-growing importer imported in Scandinavia, with a CAGR of +40.0% from 2012-2022. From 2012 to 2022, the share of Finland increased by +18 percentage points.

In value terms, Sweden ($X) constitutes the largest market for imported glass stoppers, lids and other closures in Scandinavia, comprising 54% of total imports. The second position in the ranking was held by Norway ($X), with a 26% share of total imports.

In Sweden, glass closure imports increased at an average annual rate of +16.8% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Norway (+7.6% per year) and Finland (+28.6% per year).

Import Prices by Country

The import price in Scandinavia stood at $X per ton in 2022, growing by 4.3% against the previous year. Import price indicated a strong increase from 2012 to 2022: its price increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2015 an increase of 61%. Over the period under review, import prices hit record highs at $X per ton in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Norway ($X per ton), while Sweden ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+9.9%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform