Southern Asia: Glass Closure Market 2024

Glass Closure Market Size in Southern Asia

The South Asian glass closure market totaled $X in 2022, standing approx. at the previous year. The total consumption indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +5.5% 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 -1.3% against 2020 indices. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market remained at a lower figure.

Glass Closure Production in Southern 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 +5.3% 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 -1.1% against 2020 indices. The growth pace was the most rapid in 2017 with an increase of 38% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

Glass Closure Exports

Exports in Southern Asia

In 2022, the amount of glass stoppers, lids and other closures exported in Southern Asia skyrocketed to X tons, rising by 41% against the previous year. Over the period under review, exports posted a mild increase. The growth pace was the most rapid in 2017 when exports increased by 501% against the previous year. The volume of export peaked in 2022 and is likely to continue growth in years to come.

In value terms, glass closure exports soared to $X in 2022. In general, exports, however, recorded a slight decrease. The most prominent rate of growth was recorded in 2018 when exports increased by 223% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The shipments of the one major exporters of glass stoppers, lids and other closures, namely India, represented more than two-thirds of total export.

India was also the fastest-growing in terms of the glass stoppers, lids and other closures exports, with a CAGR of +1.2% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest glass closure supplier in Southern Asia.

In India, glass closure exports contracted by an average annual rate of -1.1% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Southern Asia amounted to $X per ton, approximately equating the previous year. Overall, the export price recorded a pronounced setback. The most prominent rate of growth was recorded in 2018 an increase of 129% against the previous year. The level of export peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for India.

From 2012 to 2022, the rate of growth in terms of prices for India amounted to -2.2% per year.

Glass Closure Imports

Imports in Southern Asia

In 2022, purchases abroad of glass stoppers, lids and other closures decreased by -20.3% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, imports, however, saw strong growth. The most prominent rate of growth was recorded in 2016 when imports increased by 145% against the previous year. As a result, imports attained the peak of X tons. From 2017 to 2022, the growth of imports failed to regain momentum.

In value terms, glass closure imports declined sharply to $X in 2022. Overall, imports, however, posted resilient growth. The pace of growth was the most pronounced in 2016 when imports increased by 68% against the previous year. The level of import peaked at $X in 2021, and then dropped notably in the following year.

Imports by Country

India (X tons) and Bangladesh (X tons) prevails in imports structure, together committing 91% of total imports. It was distantly followed by Pakistan (X tons), committing an 8.9% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Pakistan (with a CAGR of +34.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, India ($X), Bangladesh ($X) and Pakistan ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for 100% of total imports.

Pakistan, with a CAGR of +39.5%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Southern Asia amounted to $X per ton, remaining relatively unchanged against the previous year. Import price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, glass closure import price decreased by -7.9% against 2020 indices. The most prominent rate of growth was recorded in 2013 an increase of 43% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the import prices remained at a somewhat lower figure.

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 Pakistan ($X per ton), while Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bangladesh (+8.9%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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