Lithuania: Glass Closure Market 2024

Glass Closure Market Size in Lithuania

In 2023, the Lithuanian glass closure market decreased by X% to $X for the first time since 2020, thus ending a two-year rising trend. Overall, consumption, however, recorded strong growth. Glass closure consumption peaked at $X in 2018; however, from 2019 to 2023, consumption stood at a somewhat lower figure.

Glass Closure Production in Lithuania

In value terms, glass closure production shrank to $X in 2023 estimated in export price. In general, production, however, saw a buoyant expansion. The most prominent rate of growth was recorded in 2017 with an increase of X%. Glass closure production peaked at $X in 2018; however, from 2019 to 2023, production stood at a somewhat lower figure.

Glass Closure Exports

Exports from Lithuania

In 2023, the amount of glass stoppers, lids and other closures exported from Lithuania soared to X tons, growing by X% against the previous year's figure. Overall, exports showed a prominent expansion. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, the exports hit record highs in 2023 and are likely to see gradual growth in the immediate term.

In value terms, glass closure exports surged to $X in 2023. In general, exports enjoyed resilient growth. The most prominent rate of growth was recorded in 2017 when exports increased by X%. The exports peaked in 2023 and are expected to retain growth in years to come.

Exports by Country

Hungary (X tons), Latvia (X tons) and Russia (X tons) were the main destinations of glass closure exports from Lithuania, with a combined X% share of total exports.

From 2012 to 2023, the biggest increases were recorded for Hungary (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Hungary ($X), Latvia ($X) and Russia ($X) appeared to be the largest markets for glass closure exported from Lithuania worldwide, together accounting for X% of total exports.

Among the main countries of destination, Hungary, with a CAGR of X.8%, 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

The average glass closure export price stood at $X per ton in 2023, increasing by X% against the previous year. Overall, export price indicated a strong expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, glass closure export price increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2013 an increase of X%. Over the period under review, the average export prices reached the maximum in 2023 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2023, amid the top suppliers, the country with the highest price was Poland ($X per ton), while the average price for exports to Estonia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Russia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Glass Closure Imports

Imports into Lithuania

In 2023, supplies from abroad of glass stoppers, lids and other closures increased by X% to X tons for the first time since 2020, thus ending a two-year declining trend. In general, total imports indicated temperate growth from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2020 when imports increased by X%. As a result, imports reached the peak of X tons. From 2021 to 2023, the growth of imports remained at a lower figure.

In value terms, glass closure imports skyrocketed to $X in 2023. Over the period under review, imports saw a strong expansion. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. Over the period under review, imports hit record highs in 2023 and are likely to continue growth in the immediate term.

Imports by Country

France (X tons), China (X tons) and Poland (X tons) were the main suppliers of glass closure imports to Lithuania, with a combined X% share of total imports. Slovenia, the Czech Republic, Germany, Latvia and Italy lagged somewhat behind, together comprising a further X%.

From 2012 to 2023, the biggest increases were recorded for the Czech Republic (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest glass closure suppliers to Lithuania were China ($X), France ($X) and Slovenia ($X), with a combined X% share of total imports. Poland, the Czech Republic, Germany, Italy and Latvia lagged somewhat behind, together accounting for a further X%.

The Czech Republic, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average glass closure import price stood at $X per ton in 2023, growing by X% against the previous year. Overall, import price indicated a pronounced increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, glass closure import price increased by X% against 2017 indices. The pace of growth was the most pronounced in 2021 when the average import price increased by X%. The import price peaked in 2023 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Slovenia ($X per ton), while the price for France ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the Czech Republic (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform