Thailand: Glass Closure Market 2024

Glass Closure Market Size in Thailand

The Thai glass closure market fell slightly to $X in 2022, with a decrease of X% against the previous year. Over the period under review, the total consumption indicated a tangible increase 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 2019 indices. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Glass Closure Production in Thailand

In value terms, glass closure production fell to $X in 2022 estimated in export price. In general, the total production indicated a tangible increase 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 2019 indices. The pace of growth was the most pronounced in 2019 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Glass Closure Exports

Exports from Thailand

In 2022, the amount of glass stoppers, lids and other closures exported from Thailand surged to X tons, picking up by X% on the previous year. In general, exports recorded a remarkable increase. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, glass closure exports soared to $X in 2022. Overall, exports recorded a resilient increase. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

Myanmar (X tons), Lao People's Democratic Republic (X tons) and Hong Kong SAR (X tons) were the main destinations of glass closure exports from Thailand, together accounting for X% of total exports. Vietnam, Malaysia, Indonesia and Singapore lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Vietnam (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), Hong Kong SAR ($X) and Lao People's Democratic Republic ($X) were the largest markets for glass closure exported from Thailand worldwide, together comprising X% of total exports.

In terms of the main countries of destination, Vietnam, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average glass closure export price amounted to $X per ton, growing by X% against the previous year. Over the period under review, the export price showed a modest expansion. The pace of growth was the most pronounced in 2019 when the average export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2020 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (X%), while the prices for the other major destinations experienced more modest paces of growth.

Glass Closure Imports

Imports into Thailand

In 2022, approx. X tons of glass stoppers, lids and other closures were imported into Thailand; waning by X% on the year before. Overall, imports, however, recorded prominent growth. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, glass closure imports fell dramatically to $X in 2022. Over the period under review, imports, however, saw a resilient increase. The pace of growth appeared the most rapid in 2018 with an increase of X%. Over the period under review, imports hit record highs at $X in 2021, and then declined rapidly in the following year.

Imports by Country

In 2022, China (X tons) was the main supplier of glass closure to Thailand, accounting for a X% share of total imports. Moreover, glass closure imports from China exceeded the figures recorded by the second-largest supplier, France (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from China totaled X%.

In value terms, the largest glass closure suppliers to Thailand were France ($X) and China ($X).

France, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review.

Import Prices by Country

The average glass closure import price stood at $X per ton in 2022, reducing by X% against the previous year. Over the period under review, the import price, however, showed a strong expansion. The growth pace was the most rapid in 2021 an increase of X%. As a result, import price reached the peak level of $X per ton, and then contracted in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per ton), while the price for China stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (X%).

Source: IndexBox Platform

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