Global Glass Closure Market 2024

Glass Closure Market Size

The global glass closure market expanded modestly to $X in 2022, with an increase of 1.8% against the previous year. The market value increased at an average annual rate of +3.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 when the market value increased by 7% against the previous year. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the global market failed to regain momentum.

Glass Closure Production

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 +4.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2016 with an increase of 9.4% against the previous year. Global production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Glass Closure Exports

Exports

In 2022, overseas shipments of glass stoppers, lids and other closures decreased by -34.7% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, total exports indicated a modest expansion from 2012 to 2022: its volume increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 30% against the previous year. The global exports peaked at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, glass closure exports plummeted to $X in 2022. Overall, total exports indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 26%. As a result, the exports attained the peak of $X, and then fell rapidly in the following year.

Exports by Country

China dominates exports structure, amounting to X tons, which was approx. 73% of total exports in 2022. It was distantly followed by Austria (X tons), making up a 7.3% share of total exports. France (X tons), the Czech Republic (X tons), Italy (X tons) and Vietnam (X tons) followed a long way behind the leaders.

Exports from China increased at an average annual rate of +1.8% from 2012 to 2022. At the same time, Vietnam (+15.6%), the Czech Republic (+13.0%), Italy (+4.8%) and Austria (+1.1%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in the world, with a CAGR of +15.6% from 2012-2022. By contrast, France (-3.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China and the Czech Republic increased by +3 and +1.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest glass closure supplier worldwide, comprising 56% of global exports. The second position in the ranking was taken by the Czech Republic ($X), with a 12% share of global exports. It was followed by Austria, with a 5.1% share.

In China, glass closure exports increased at an average annual rate of +4.8% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: the Czech Republic (+14.6% per year) and Austria (+8.1% per year).

Export Prices by Country

In 2022, the average glass closure export price amounted to $X per ton, growing by 14% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.7%. The pace of growth appeared the most rapid in 2019 an increase of 35% against the previous year. Over the period under review, the average export prices hit record highs 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 Czech Republic ($X per ton), while Austria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Austria (+7.0%), while the other global leaders experienced more modest paces of growth.

Glass Closure Imports

Imports

In 2022, after five years of growth, there was significant decline in supplies from abroad of glass stoppers, lids and other closures, when their volume decreased by -20.1% to X tons. Over the period under review, imports, however, saw a strong expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 30%. As a result, imports attained the peak of X tons, and then contracted dramatically in the following year.

In value terms, glass closure imports declined to $X in 2022. Overall, imports, however, showed a resilient expansion. The pace of growth was the most pronounced in 2021 when imports increased by 30% against the previous year. As a result, imports reached the peak of $X, and then declined in the following year.

Imports by Country

In 2022, Italy (X tons), distantly followed by the United States (X tons), Brazil (X tons), Vietnam (X tons), South Korea (X tons), Spain (X tons) and Russia (X tons) represented the largest importers of glass stoppers, lids and other closures, together creating 56% of total imports. The Czech Republic (X tons), Romania (X tons), France (X tons), India (X tons), Germany (X tons) and the UK (X tons) held a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to glass closure imports into Italy stood at +13.8%. At the same time, Romania (+28.8%), the Czech Republic (+28.1%), Vietnam (+17.8%), Spain (+17.3%), India (+14.7%), Brazil (+12.8%), South Korea (+9.0%), the UK (+8.8%), the United States (+4.2%) and France (+2.1%) displayed positive paces of growth. Moreover, Romania emerged as the fastest-growing importer imported in the world, with a CAGR of +28.8% from 2012-2022. Russia experienced a relatively flat trend pattern. By contrast, Germany (-5.0%) illustrated a downward trend over the same period. While the share of Italy (+8.7 p.p.), the Czech Republic (+3.6 p.p.), Romania (+3.4 p.p.), Vietnam (+3.2 p.p.), Brazil (+2.9 p.p.) and Spain (+2.7 p.p.) increased significantly in terms of the global imports from 2012-2022, the share of France (-2.6 p.p.), the United States (-3.3 p.p.), Russia (-5.2 p.p.) and Germany (-6.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Italy ($X) constitutes the largest market for imported glass stoppers, lids and other closures worldwide, comprising 19% of global imports. The second position in the ranking was held by France ($X), with an 8.8% share of global imports. It was followed by the United States, with an 8.7% share.

From 2012 to 2022, the average annual growth rate of value in Italy amounted to +14.9%. In the other countries, the average annual rates were as follows: France (+5.3% per year) and the United States (+1.0% per year).

Import Prices by Country

The average glass closure import price stood at $X per ton in 2022, surging by 9.3% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. Global import price peaked at $X per ton in 2012; however, from 2013 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 France ($X per ton), while Romania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+4.7%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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