ASEAN: Glass Closure Market 2024

Glass Closure Market Size in ASEAN

The ASEAN glass closure market amounted to $X in 2022, flattening at the previous year. The total consumption indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2020 indices. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Glass Closure Production in ASEAN

In value terms, glass closure production reached $X in 2022 estimated in export price. The total production indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2020 indices. The pace of growth appeared the most rapid in 2019 when the production volume increased by X% against the previous year. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Glass Closure Exports

Exports in ASEAN

In 2022, after two years of growth, there was decline in shipments abroad of glass stoppers, lids and other closures, when their volume decreased by X% to X tons. Overall, exports, however, showed a remarkable increase. The most prominent rate of growth was recorded in 2016 with an increase of X%. The volume of export peaked at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, glass closure exports expanded sharply to $X in 2022. Over the period under review, exports, however, enjoyed prominent growth. The pace of growth appeared the most rapid in 2017 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Vietnam prevails in exports structure, amounting to X tons, which was near X% of total exports in 2022. It was distantly followed by Singapore (X tons), comprising a X% share of total exports. The following exporters - Thailand (X tons) and Indonesia (X tons) - together made up X% of total exports.

Vietnam was also the fastest-growing in terms of the glass stoppers, lids and other closures exports, with a CAGR of X% from 2012 to 2022. At the same time, Thailand (X%) and Singapore (X%) displayed positive paces of growth. By contrast, Indonesia (X%) illustrated a downward trend over the same period. While the share of Vietnam (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Singapore (X p.p.) and Indonesia (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) remains the largest glass closure supplier in ASEAN, comprising X% of total exports. The second position in the ranking was taken by Singapore ($X), with a X% share of total exports. It was followed by Thailand, with a X% share.

In Vietnam, glass closure exports expanded at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Singapore (X% per year) and Thailand (X% per year).

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, surging by X% against the previous year. Overall, the export price continues to indicate a prominent expansion. The pace of growth was the most pronounced in 2017 when the export price increased by X% against the previous year. Over the period under review, the export prices reached the maximum at $X per ton in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

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 Singapore ($X per ton), while Indonesia ($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 (X%), while the other leaders experienced more modest paces of growth.

Glass Closure Imports

Imports in ASEAN

In 2022, after two years of growth, there was significant decline in supplies from abroad of glass stoppers, lids and other closures, when their volume decreased by X% to X tons. In general, imports, however, saw a strong expansion. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then dropped sharply in the following year.

In value terms, glass closure imports declined to $X in 2022. Over the period under review, imports, however, enjoyed a strong increase. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2021, and then shrank in the following year.

Imports by Country

In 2022, Indonesia (X tons) and Vietnam (X tons) represented the key importers of glass stoppers, lids and other closures in ASEAN, together committing X% of total imports. It was distantly followed by Thailand (X tons), Malaysia (X tons) and Myanmar (X tons), together committing a X% share of total imports. The following importers - the Philippines (X tons) and Singapore (X tons) - each recorded a X% 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 Myanmar (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest glass closure importing markets in ASEAN were Vietnam ($X), Indonesia ($X) and Thailand ($X), together comprising X% of total imports.

Indonesia, with a CAGR of X%, recorded 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 ASEAN amounted to $X per ton, picking up by X% against the previous year. Import price indicated a tangible increase from 2012 to 2022: its price increased at an average annual rate of X% 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 increased by X% against 2016 indices. The pace of growth was the most pronounced in 2019 when the import price increased by X% against the previous year. Over the period under review, import prices reached the maximum in 2022 and is likely to continue growth in the immediate term.

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 Thailand ($X per ton), while Myanmar ($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 (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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