Singapore: Glass Closure Market 2025

Glass Closure Market Size in Singapore

The Singaporean glass closure market contracted slightly to $X in 2022, shrinking by -2.2% against the previous year. In general, the total consumption indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +3.4% 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 -6.1% against 2019 indices. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Glass Closure Production in Singapore

In value terms, glass closure production contracted slightly to $X in 2022 estimated in export price. Overall, the total production indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +3.6% 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 -6.7% against 2019 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by 24% against the previous year. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Glass Closure Exports

Exports from Singapore

For the third year in a row, Singapore recorded growth in overseas shipments of glass stoppers, lids and other closures, which increased by 66% to X tons in 2022. Over the period under review, exports showed temperate growth. The most prominent rate of growth was recorded in 2021 when exports increased by 89% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, glass closure exports surged to $X in 2022. Overall, exports posted resilient growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China (X tons) was the main destination for glass closure exports from Singapore, with a 75% share of total exports. Moreover, glass closure exports to China exceeded the volume sent to the second major destination, the United States (X tons), fourfold. The third position in this ranking was taken by Malaysia (X tons), with a 4.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China amounted to +269.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-8.1% per year) and Malaysia (-10.1% per year).

In value terms, China ($X) emerged as the key foreign market for glass stoppers, lids and other closures exports from Singapore, comprising 89% of total exports. The second position in the ranking was held by the United States ($X), with a 6.6% share of total exports. It was followed by Malaysia, with a 1.6% share.

From 2012 to 2022, the average annual growth rate of value to China amounted to +335.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-9.9% per year) and Malaysia (-11.8% per year).

Export Prices by Country

In 2022, the average glass closure export price amounted to $X per ton, rising by 189% against the previous year. Overall, the export price saw a buoyant increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+17.8%), while the prices for the other major destinations experienced a decline.

Glass Closure Imports

Imports into Singapore

In 2022, approx. X tons of glass stoppers, lids and other closures were imported into Singapore; dropping by -56.5% against the previous year's figure. Over the period under review, imports continue to indicate a noticeable setback. The most prominent rate of growth was recorded in 2021 with an increase of 118%. Imports peaked at X tons in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, glass closure imports declined remarkably to $X in 2022. In general, imports showed a pronounced descent. The pace of growth appeared the most rapid in 2021 with an increase of 114%. Imports peaked at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The UK (X tons), the United States (X tons) and China (X tons) were the main suppliers of glass closure imports to Singapore, with a combined 60% share of total imports. South Korea, Japan, Vietnam, Italy and Malaysia lagged somewhat behind, together comprising a further 28%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Vietnam (with a CAGR of +24.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest glass closure suppliers to Singapore were China ($X), the UK ($X) and the United States ($X), together comprising 64% of total imports. South Korea, Japan, Vietnam, Italy and Malaysia lagged somewhat behind, together comprising a further 24%.

Vietnam, with a CAGR of +25.5%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average glass closure import price amounted to $X per ton, with an increase of 16% against the previous year. Over the last decade, it increased at an average annual rate of +2.2%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+6.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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