Glass Closure Market

The article analyzes the global glass closure market, highlighting the increasing demand for glass stoppers, lids, and other closures worldwide. The market is expected to see a growth in both volume and value by 2030, with a forecasted CAGR of +2.6% and +5.2% respectively. Key findings include insights on consumption, production, imports, and exports, with detailed information on top consuming, producing, importing, and exporting countries. Notable trends in market performance, consumption patterns, and price fluctuations from 2012 to 2022 are also discussed.

Market Forecast

Driven by increasing demand for glass stoppers, lids and other closures worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +2.6% for the period from 2022 to 2030, which is projected to bring the market volume to 94M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +5.2% for the period from 2022 to 2030, which is projected to bring the market value to $547.9B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Glass Stoppers, Lids and Other Closures

Global glass closure consumption expanded slightly to 76M tons in 2022, with an increase of 1.7% compared with 2021. The total consumption volume increased at an average annual rate of +3.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2019 with an increase of 9.4% against the previous year. Global consumption peaked at 78M tons in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

The global glass closure market size totaled $366.1B in 2022, increasing by 2.1% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +3.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Global consumption peaked at $370.1B in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were Russia (14M tons), China (12M tons) and the United States (4.5M tons), with a combined 40% share of global consumption. India, Indonesia, Brazil, Japan, Mexico, Bangladesh, Pakistan and Nigeria lagged somewhat behind, together comprising a further 22%.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by Nigeria (with a CAGR of +10.5%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($45.2B), Brazil ($40.4B) and Russia ($37.4B) were the countries with the highest levels of market value in 2022, together accounting for 34% of the global market. Japan, China, India, Mexico, Indonesia, Bangladesh, Pakistan and Nigeria lagged somewhat behind, together comprising a further 22%.

Nigeria, with a CAGR of +10.9%, recorded the highest growth rate of market size in terms of the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of glass closure per capita consumption was registered in Russia (96 kg per 1000 persons), followed by Japan (15 kg per 1000 persons), the United States (13 kg per 1000 persons) and Mexico (12 kg per 1000 persons), while the world average per capita consumption of glass closure was estimated at 9.7 kg per 1000 persons.

In Russia, glass closure per capita consumption remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Japan (+0.7% per year) and the United States (+3.2% per year).

Production

World Production of Glass Stoppers, Lids and Other Closures

Global glass closure production reached 76M tons in 2022, increasing by 1.7% against the year before. The total output volume increased at an average annual rate of +3.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2019 when the production volume increased by 9.4%. Global production peaked at 78M tons in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

In value terms, glass closure production expanded slightly to $371.6B in 2022 estimated in export price. The total output value increased at an average annual rate of +4.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2020 with an increase of 15% against the previous year. As a result, production reached the peak level of $385B. From 2021 to 2022, global production growth failed to regain momentum.

Production By Country

The countries with the highest volumes of production in 2022 were Russia (14M tons), China (12M tons) and the United States (4.5M tons), together comprising 40% of global production. India, Indonesia, Brazil, Japan, Mexico, Bangladesh, Pakistan and Nigeria lagged somewhat behind, together comprising a further 22%.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the leading producing countries, was attained by Nigeria (with a CAGR of +10.5%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Glass Stoppers, Lids and Other Closures

After five years of growth, supplies from abroad of glass stoppers, lids and other closures decreased by -23.9% to 84K tons in 2022. In general, imports, however, showed a buoyant increase. The pace of growth was the most pronounced in 2021 when imports increased by 25%. As a result, imports attained the peak of 110K tons, and then reduced notably in the following year.

In value terms, glass closure imports contracted remarkably to $234M in 2022. Overall, imports, however, recorded resilient growth. The most prominent rate of growth was recorded in 2021 when imports increased by 32%. As a result, imports reached the peak of $292M, and then dropped notably in the following year.

Imports By Country

In 2022, Italy (12K tons), the United States (8.5K tons), Brazil (7K tons), Romania (5.7K tons), South Korea (4.4K tons), Russia (4.3K tons), the Czech Republic (4K tons), France (3.5K tons), India (2.6K tons), Spain (2.6K tons), Germany (2.5K tons) and Colombia (2.4K tons) represented the largest importer of glass stoppers, lids and other closures in the world, constituting 71% of total import. The Netherlands (2.4K tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Romania (with a CAGR of +34.8%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, Italy ($26M), France ($22M) and the United States ($22M) appeared to be the countries with the highest levels of imports in 2022, together accounting for 30% of global imports. Germany, Brazil, Spain, the Netherlands, South Korea, the Czech Republic, Russia, Colombia, Romania and India lagged somewhat behind, together accounting for a further 37%.

Among the main importing countries, the Netherlands, with a CAGR of +29.3%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average glass closure import price stood at $2,800 per ton in 2022, picking up by 5.5% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 8.5%. Global import price peaked at $2,995 per ton in 2012; however, from 2013 to 2022, import prices remained at a 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 France ($6,406 per ton), while Romania ($774 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+7.1%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Glass Stoppers, Lids and Other Closures

In 2022, overseas shipments of glass stoppers, lids and other closures decreased by -33.2% to 63K tons for the first time since 2019, thus ending a two-year rising trend. Overall, total exports indicated a modest expansion from 2012 to 2022: its volume increased at an average annual rate of +1.7% 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 2020 when exports increased by 19%. The global exports peaked at 94K tons in 2021, and then shrank notably in the following year.

In value terms, glass closure exports dropped markedly to $189M in 2022. In general, total exports indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 28% against the previous year. As a result, the exports attained the peak of $253M, and then shrank dramatically in the following year.

Exports By Country

China dominates exports structure, recording 45K tons, which was near 71% of total exports in 2022. It was distantly followed by Austria (4.4K tons), making up a 7.1% share of total exports. The following exporters - France (2.6K tons), the Czech Republic (1.5K tons), Italy (1.3K tons) and Germany (1.3K tons) - together made up 11% of total exports.

From 2012 to 2022, average annual rates of growth with regard to glass closure exports from China stood at +1.8%. At the same time, the Czech Republic (+13.0%), Germany (+8.4%), Italy (+5.4%) and Austria (+1.0%) displayed positive paces of growth. Moreover, the Czech Republic emerged as the fastest-growing exporter exported in the world, with a CAGR of +13.0% from 2012-2022. By contrast, France (-2.9%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the Czech Republic increased by +1.6 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($106M) remains the largest glass closure supplier worldwide, comprising 56% of global exports. The second position in the ranking was held by the Czech Republic ($23M), with a 12% share of global exports. It was followed by Austria, with a 5.1% share.

From 2012 to 2022, the average annual growth rate of value in China amounted to +4.8%. 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 $3,008 per ton, increasing by 12% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.5%. 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 amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the Czech Republic ($15,076 per ton), while Austria ($2,152 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.

Source: IndexBox Market Intelligence Platform