Republic of Korea - Base Metal Closures, Stoppers, Caps And Lids - Market Analysis, Forecast, Size, Trends And Insights
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View PricingBase Metal Closure Price in South Korea - 2022
Contents:
- Base Metal Closure Price in South Korea (FOB) - 2022
- Base Metal Closure Price in South Korea (CIF) - 2022
- Base Metal Closure Exports in South Korea
- Base Metal Closure Imports in South Korea
Base Metal Closure Price in South Korea (FOB) - 2022
The average base metal closure export price stood at $5,462 per ton in December 2022, with a decrease of -9.6% against the previous month. In general, the export price, however, continues to indicate mild growth. The most prominent rate of growth was recorded in June 2022 an increase of 22% month-to-month. As a result, the export price reached the peak level of $6,095 per ton. From July 2022 to December 2022, the the average export prices remained at a somewhat lower figure.
There were significant differences in the average prices for the major foreign markets. In December 2022, the country with the highest price was China ($15,750 per ton), while the average price for exports to Vietnam ($2,223 per ton) was amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was recorded for supplies to Papua New Guinea (+4.6%), while the prices for the other major destinations experienced more modest paces of growth.
Base Metal Closure Price in South Korea (CIF) - 2022
In 2022, the average base metal closure import price amounted to $8,305 per ton, reducing by -5.3% against the previous year. Over the last decade, it increased at an average annual rate of +4.8%. The most prominent rate of growth was recorded in 2013 when the average import price increased by 20% against the previous year. The import price peaked at $8,766 per ton in 2021, and then shrank in the following year.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($24,515 per ton), while the price for Indonesia ($2,864 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+3.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Base Metal Closure Exports in South Korea
In 2022, approx. 20K tons of base metal closures, stoppers, caps and lids were exported from South Korea; growing by 5% on the previous year. The total export volume increased at an average annual rate of +2.9% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 with an increase of 14% against the previous year. As a result, the exports attained the peak of 21K tons. From 2021 to 2022, the growth of the exports failed to regain momentum.
In value terms, base metal closure exports fell slightly to $81M in 2022. The total export value increased at an average annual rate of +3.3% over the period from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2020 when exports increased by 9% against the previous year.
| Export of Base Metal Closure in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| New Zealand | 19.4 | 15.8 | 11.5 | 14.1 | -10.1% |
| Philippines | 12.2 | 14.7 | 12.3 | 11.9 | -0.8% |
| Samoa | 10.9 | 14.2 | 12.8 | 11.8 | 2.7% |
| United States | 2.0 | 2.6 | 11.3 | 10.4 | 73.2% |
| Papua New Guinea | 5.2 | 5.2 | 7.0 | 6.5 | 7.7% |
| Vietnam | 4.6 | 5.4 | 4.9 | 4.5 | -0.7% |
| Peru | 1.5 | 3.1 | 3.2 | 2.9 | 24.6% |
| Others | 18.0 | 19.5 | 19.1 | 19.1 | 2.0% |
| Total | 73.8 | 80.4 | 82.0 | 81.2 | 3.2% |
Top Export Markets for Base Metal Closure from South Korea in 2022:
- Samoa (4.2K tons)
- Philippines (3.1K tons)
- Papua New Guinea (2.3K tons)
- New Zealand (2.3K tons)
- Vietnam (1.7K tons)
- United States (1.6K tons)
- Peru (1.1K tons)
Base Metal Closure Imports in South Korea
In 2022, after three years of growth, there was significant decline in supplies from abroad of base metal closures, stoppers, caps and lids, when their volume decreased by -7.9% to 4.7K tons. The total import volume increased at an average annual rate of +6.1% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of 19%. As a result, imports attained the peak of 5.1K tons, and then shrank in the following year.
In value terms, base metal closure imports fell to $39M in 2022. In general, total imports indicated a resilient increase from 2019 to 2022: its value increased at an average annual rate of +9.7% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +31.9% against 2019 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 34%. As a result, imports reached the peak of $45M, and then contracted in the following year.
| Import of Base Metal Closure in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 6.9 | 9.3 | 12.6 | 10.9 | 16.5% |
| India | 7.1 | 6.4 | 8.8 | 7.6 | 2.3% |
| Japan | 3.2 | 3.9 | 8.7 | 7.5 | 32.8% |
| Hungary | 5.1 | 6.1 | 6.2 | 5.3 | 1.3% |
| United States | 3.2 | 2.9 | 3.2 | 2.7 | -5.5% |
| France | 1.2 | 0.9 | 1.3 | 1.1 | -2.9% |
| Netherlands | 0.5 | 0.7 | 0.6 | 0.6 | 6.3% |
| Others | 2.4 | 3.3 | 3.7 | 3.6 | 14.5% |
| Total | 29.8 | 33.5 | 45.0 | 39.3 | 9.7% |
Top Suppliers of Base Metal Closure to South Korea in 2022:
- India (1967.8 tons)
- China (1412.3 tons)
- Hungary (460.2 tons)
- Japan (305.3 tons)
- France (115.0 tons)
- Netherlands (80.0 tons)
- United States (60.9 tons)
This report provides an in-depth analysis of the base metal closure market in Republic of Korea. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 25921370 - Base metal closures, stoppers, caps and lids (excluding of lead, crown corks, aluminium closures, stoppers, caps and lids of a diameter > .21 mm)
Country coverage:
- South Korea
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Republic of Korea
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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