Chile: Base Metal Closure Market 2024

Base Metal Closure Market Size in Chile

In 2022, the Chilean base metal closure market decreased by X% to $X for the first time since 2017, thus ending a four-year rising trend. Overall, the total consumption indicated a pronounced 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, consumption increased by X% against 2017 indices. As a result, consumption attained the peak level of $X, and then dropped notably in the following year.

Base Metal Closure Exports

Exports from Chile

Base metal closure exports from Chile fell rapidly to X tons in 2022, waning by X% against the year before. Over the period under review, total exports indicated a pronounced expansion from 2012 to 2022: its volume 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, exports decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, base metal closure exports dropped to $X in 2022. In general, total exports indicated a buoyant 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. The pace of growth was the most pronounced in 2017 when exports increased by X%. The exports peaked at $X in 2021, and then reduced in the following year.

Exports by Country

Spain (X tons) was the main destination for base metal closure exports from Chile, with a X% share of total exports. Moreover, base metal closure exports to Spain exceeded the volume sent to the second major destination, Brazil (X tons), twofold. The third position in this ranking was held by Argentina (X tons), with a X% share.

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

In value terms, the largest markets for base metal closure exported from Chile were Argentina ($X), Brazil ($X) and Spain ($X), together comprising X% of total exports. The United States, Mexico, Peru, Ecuador, Costa Rica, Bolivia, Paraguay, Colombia and Venezuela lagged somewhat behind, together accounting for a further X%.

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

Export Prices by Country

The average base metal closure export price stood at $X per ton in 2022, surging by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The growth pace was the most rapid in 2014 an increase of X% against the previous year. The export price peaked in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Spain ($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 the United States (X%), while the prices for the other major destinations experienced more modest paces of growth.

Base Metal Closure Imports

Imports into Chile

In 2022, overseas purchases of base metal closures, stoppers, caps and lids decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, imports, however, showed a buoyant expansion. 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 dropped sharply in the following year.

In value terms, base metal closure imports declined markedly to $X in 2022. Over the period under review, total imports indicated moderate growth 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 2015 indices. The growth pace was the most rapid in 2020 with an increase of X%. Imports peaked at $X in 2021, and then shrank markedly in the following year.

Imports by Country

China (X tons), Paraguay (X tons) and Mexico (X tons) were the main suppliers of base metal closure imports to Chile, with a combined X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Paraguay (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest base metal closure suppliers to Chile were Paraguay ($X), Brazil ($X) and China ($X), with a combined X% share of total imports.

Paraguay, 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 base metal closure import price stood at $X per ton in 2022, rising by X% against the previous year. In general, the import price, however, saw a mild downturn. Over the period under review, average import prices reached the maximum at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Paraguay ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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