ASEAN: Base Metal Closure Market 2024

Base Metal Closure Market Size in ASEAN

In 2022, the ASEAN base metal closure market increased by X% to $X, rising for the second year in a row after two years of decline. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Base Metal Closure Production in ASEAN

In value terms, base metal closure production declined to $X in 2022 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Base Metal Closure Exports

Exports in ASEAN

After two years of growth, overseas shipments of base metal closures, stoppers, caps and lids decreased by X% to X tons in 2022. The total export volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. The volume of export peaked at X tons in 2021, and then contracted modestly in the following year.

In value terms, base metal closure exports soared to $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2022, Thailand (X tons), distantly followed by Malaysia (X tons), Vietnam (X tons), Singapore (X tons), Cambodia (X tons) and the Philippines (X tons) were the largest exporters of base metal closures, stoppers, caps and lids, together comprising X% of total exports. Indonesia (X tons) took a minor share of total exports.

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

In value terms, the largest base metal closure supplying countries in ASEAN were Thailand ($X), Vietnam ($X) and Malaysia ($X), with a combined X% share of total exports.

Vietnam, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, with an increase of X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while Malaysia ($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.

Base Metal Closure Imports

Imports in ASEAN

In 2022, the amount of base metal closures, stoppers, caps and lids imported in ASEAN expanded significantly to X tons, surging by X% against 2021. Overall, imports continue to indicate a prominent expansion. The pace of growth appeared the most rapid in 2019 when imports increased by X% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, base metal closure imports surged to $X in 2022. Total imports indicated a measured 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, imports increased by X% against 2013 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X%. The level of import peaked in 2022 and is likely to see steady growth in the immediate term.

Imports by Country

The purchases of the seven major importers of base metal closures, stoppers, caps and lids, namely Thailand, the Philippines, Indonesia, Vietnam, Malaysia, Cambodia and Myanmar, represented more than two-thirds of total import.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main 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 base metal closure importing markets in ASEAN were Thailand ($X), Vietnam ($X) and the Philippines ($X), with a combined X% share of total imports. Indonesia, Cambodia, Malaysia and Myanmar lagged somewhat behind, together comprising a further X%.

Myanmar, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of 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, growing by X% against the previous year. Overall, the import price, however, showed a slight downturn. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Vietnam ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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