Hungary: Base Metal Closure Market 2024

Base Metal Closure Market Size in Hungary

In 2022, the Hungarian base metal closure market increased by X% to $X, rising for the third consecutive year after two years of decline. Overall, the total consumption indicated a prominent 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. Based on 2022 figures, consumption increased by X% against 2019 indices. Over the period under review, the market reached the peak level in 2022 and is likely to see gradual growth in the near future.

Base Metal Closure Production in Hungary

In value terms, base metal closure production expanded markedly to $X in 2022 estimated in export price. Overall, production recorded a significant increase. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Base metal closure production peaked in 2022 and is likely to see gradual growth in years to come.

Base Metal Closure Exports

Exports from Hungary

In 2022, the amount of base metal closures, stoppers, caps and lids exported from Hungary was estimated at X tons, picking up by X% compared with the year before. In general, exports recorded a prominent expansion. The pace of growth appeared the most rapid in 2016 with an increase of X%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the near future.

In value terms, base metal closure exports soared to $X in 2022. Overall, exports saw a buoyant expansion. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

Poland (X tons), Germany (X tons) and France (X tons) were the main destinations of base metal closure exports from Hungary, together comprising X% of total exports. Russia, South Korea, Austria, the UK, the Netherlands, Ukraine, Canada, Serbia and Romania lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Canada (with a CAGR of X.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), Germany ($X) and France ($X) appeared to be the largest markets for base metal closure exported from Hungary worldwide, together accounting for X% of total exports. South Korea, Russia, Austria, the UK, the Netherlands, Canada, Ukraine, Serbia and Romania lagged somewhat behind, together comprising a further X%.

Canada, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of 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

In 2022, the average base metal closure export price amounted to $X per ton, picking up by X% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to France ($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 Romania (X%), while the prices for the other major destinations experienced more modest paces of growth.

Base Metal Closure Imports

Imports into Hungary

In 2022, after two years of growth, there was decline in purchases abroad of base metal closures, stoppers, caps and lids, when their volume decreased by X% to X tons. The total import volume increased at an average annual rate of X% 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 2014 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, base metal closure imports rose rapidly to $X in 2022. The total import 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 most prominent rate of growth was recorded in 2014 with an increase of X%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

Imports by Country

Germany (X tons), Italy (X tons) and France (X tons) were the main suppliers of base metal closure imports to Hungary, together accounting for X% of total imports. The Czech Republic, Spain, Poland, Ukraine, Slovakia, Austria and the UK lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Ukraine (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 suppliers to Hungary were Germany ($X), Italy ($X) and France ($X), with a combined X% share of total imports. The Czech Republic, Poland, Spain, Slovakia, Ukraine, Austria and the UK lagged somewhat behind, together accounting for a further X%.

Ukraine, with a CAGR of X%, recorded the highest rates of growth with regard to 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, increasing by X% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat 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 the UK ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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