South-Eastern Asia: Glass Closure Market 2024

Glass Closure Market Size in South-Eastern Asia

The Southeast Asian glass closure market amounted to $X in 2022, remaining relatively unchanged against the previous year. The total consumption indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +4.8% 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 2020; afterwards, it flattened through to 2022.

Glass Closure Production in South-Eastern Asia

In value terms, glass closure production reached $X in 2022 estimated in export price. The total production indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +5.2% 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 -0.3% against 2020 indices. The growth pace was the most rapid in 2018 when the production volume increased by 21%. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Glass Closure Exports

Exports in South-Eastern Asia

In 2022, overseas shipments of glass stoppers, lids and other closures were finally on the rise to reach X tons after two years of decline. In general, exports enjoyed resilient growth. The growth pace was the most rapid in 2019 with an increase of 94%. As a result, the exports reached the peak of X tons. From 2020 to 2022, the growth of the exports failed to regain momentum.

In value terms, glass closure exports skyrocketed to $X in 2022. Over the period under review, exports recorded resilient growth. The most prominent rate of growth was recorded in 2017 when exports increased by 112%. The level of export peaked at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Vietnam dominates exports structure, recording X tons, which was near 92% of total exports in 2022. Singapore (X tons) and Thailand (X tons) took a relatively small share of total exports.

Vietnam was also the fastest-growing in terms of the glass stoppers, lids and other closures exports, with a CAGR of +15.6% from 2012 to 2022. At the same time, Thailand (+6.3%) and Singapore (+2.1%) displayed positive paces of growth. While the share of Vietnam (+44 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Singapore (-3.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) remains the largest glass closure supplier in South-Eastern Asia, comprising 85% of total exports. The second position in the ranking was taken by Singapore ($X), with an 11% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Vietnam amounted to +17.5%. In the other countries, the average annual rates were as follows: Singapore (+11.9% per year) and Thailand (+8.1% per year).

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per ton, picking up by 14% against the previous year. In general, the export price showed a temperate expansion. The most prominent rate of growth was recorded in 2018 when the export price increased by 58% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2022, the export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+9.7%), while the other leaders experienced more modest paces of growth.

Glass Closure Imports

Imports in South-Eastern Asia

After two years of growth, supplies from abroad of glass stoppers, lids and other closures decreased by -1.8% to X tons in 2022. Overall, imports, however, continue to indicate prominent growth. The pace of growth was the most pronounced in 2017 when imports increased by 77%. The volume of import peaked at X tons in 2021, and then declined modestly in the following year.

In value terms, glass closure imports reduced slightly to $X in 2022. Over the period under review, imports, however, posted strong growth. The growth pace was the most rapid in 2013 with an increase of 47%. The level of import peaked at $X in 2021, and then fell in the following year.

Imports by Country

Vietnam was the key importer of glass stoppers, lids and other closures in South-Eastern Asia, with the volume of imports reaching X tons, which was near 75% of total imports in 2022. Indonesia (X tons) took a 14% share (based on physical terms) of total imports, which put it in second place, followed by Thailand (5.3%). Malaysia (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to glass closure imports into Vietnam stood at +17.8%. At the same time, Indonesia (+20.6%) and Thailand (+7.7%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +20.6% from 2012-2022. By contrast, Malaysia (-1.5%) illustrated a downward trend over the same period. While the share of Vietnam (+15 p.p.) and Indonesia (+5.1 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Thailand (-5.2 p.p.) and Malaysia (-12 p.p.) displayed negative dynamics.

In value terms, Vietnam ($X) constitutes the largest market for imported glass stoppers, lids and other closures in South-Eastern Asia, comprising 53% of total imports. The second position in the ranking was held by Indonesia ($X), with a 21% share of total imports. It was followed by Thailand, with a 13% share.

In Vietnam, glass closure imports expanded at an average annual rate of +14.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Indonesia (+25.0% per year) and Thailand (+15.6% per year).

Import Prices by Country

In 2022, the import price in South-Eastern Asia amounted to $X per ton, approximately mirroring the previous year. Overall, the import price recorded a mild curtailment. The growth pace was the most rapid in 2015 when the import price increased by 18% against the previous year. As a result, import price attained the peak level of $X per ton. From 2016 to 2022, the import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+7.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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