Vietnam: Glass Closure Market 2024

Glass Closure Market Size in Vietnam

The Vietnamese glass closure market reduced slightly to $X in 2022, remaining relatively unchanged against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. Over the period under review, the market attained the maximum level at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Glass Closure Production in Vietnam

In value terms, glass closure production shrank to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2022, production growth failed to regain momentum.

Glass Closure Exports

Exports from Vietnam

Glass closure exports from Vietnam contracted slightly to X tons in 2022, waning by X% against 2021. Over the period under review, exports, however, continue to indicate significant growth. The pace of growth appeared the most rapid in 2016 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, glass closure exports fell to $X in 2022. Overall, exports, however, saw a significant expansion. The growth pace was the most rapid in 2016 when exports increased by X% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

France (X tons) was the main destination for glass closure exports from Vietnam, accounting for a X% share of total exports. Moreover, glass closure exports to France exceeded the volume sent to the second major destination, Spain (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to France amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (X% per year) and the Netherlands (X% per year).

In value terms, France ($X) remains the key foreign market for glass stoppers, lids and other closures exports from Vietnam, comprising X% of total exports. The second position in the ranking was taken by Spain ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to France totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (X% per year) and the Netherlands (X% per year).

Export Prices by Country

The average glass closure export price stood at $X per ton in 2022, approximately equating the previous year. In general, the export price, however, saw a mild contraction. The most prominent rate of growth was recorded in 2019 an increase of X%. As a result, the export price reached the peak level of $X per ton. From 2020 to 2022, the average export prices failed to regain momentum.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to France ($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 Germany (X%), while the prices for the other major destinations experienced a decline.

Glass Closure Imports

Imports into Vietnam

In 2022, after two years of growth, there was significant decline in purchases abroad of glass stoppers, lids and other closures, when their volume decreased by X% to X tons. In general, imports, however, continue to indicate a buoyant increase. The pace of growth was the most pronounced in 2020 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2021, and then contracted notably in the following year.

In value terms, glass closure imports contracted rapidly to $X in 2022. Over the period under review, imports, however, saw a significant increase. The pace of growth appeared the most rapid in 2020 when imports increased by X% against the previous year. Imports peaked at $X in 2021, and then declined rapidly in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest glass closure supplier to Vietnam, accounting for a X% share of total imports. Moreover, glass closure imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), fivefold.

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

In value terms, China ($X) constituted the largest supplier of glass stoppers, lids and other closures to Vietnam, comprising X% of total imports. The second position in the ranking was taken by Japan ($X), with a X% share of total imports.

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

Import Prices by Country

The average glass closure import price stood at $X per ton in 2022, growing by X% against the previous year. In general, import price indicated moderate growth 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. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per ton), while the price for China totaled $X per ton.

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

Source: IndexBox Platform

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