Asia: Metal Crown Cork Market 2024

Metal Crown Cork Market Size in Asia

The Asian metal crown cork market contracted to $X in 2022, which is down by -2% against the previous year. Over the period under review, consumption showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the market value increased by 9.9% against the previous year. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Metal Crown Cork Production in Asia

In value terms, metal crown cork production fell modestly to $X in 2022 estimated in export price. Overall, production recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the production volume increased by 13% against the previous year. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Metal Crown Cork Exports

Exports in Asia

In 2022, after two years of growth, there was significant decline in shipments abroad of iron or steel crown corks, when their volume decreased by -18.9% to X units. In general, exports saw a perceptible contraction. The growth pace was the most rapid in 2017 with an increase of 11% against the previous year. As a result, the exports reached the peak of X units. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, metal crown cork exports reduced markedly to $X in 2022. Over the period under review, exports recorded a perceptible curtailment. The most prominent rate of growth was recorded in 2020 with an increase of 27%. The level of export peaked at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, India (X units) was the major exporter of iron or steel crown corks, achieving 40% of total exports. Thailand (X units) took the second position in the ranking, followed by China (X units) and Kazakhstan (X units). All these countries together took near 51% share of total exports. South Korea (X units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +3.3%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, China ($X), India ($X) and Thailand ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined 84% share of total exports. These countries were followed by Kazakhstan and South Korea, which together accounted for a further 6.7%.

In terms of the main exporting countries, South Korea, with a CAGR of +0.5%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in Asia amounted to $X per thousand units, remaining constant against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the export price increased by 27%. Over the period under review, the export prices hit record highs at $X per thousand units in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was China ($X per thousand units), while Kazakhstan ($X per thousand units) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+2.7%), while the other leaders experienced mixed trends in the export price figures.

Metal Crown Cork Imports

Imports in Asia

In 2022, overseas purchases of iron or steel crown corks were finally on the rise to reach X units for the first time since 2018, thus ending a three-year declining trend. Overall, imports, however, continue to indicate a mild slump. The pace of growth appeared the most rapid in 2016 when imports increased by 28% against the previous year. As a result, imports reached the peak of X units. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, metal crown cork imports soared to $X in 2022. Over the period under review, imports, however, recorded a relatively flat trend pattern. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Lao People's Democratic Republic (X units), Israel (X units), Vietnam (X units), Nepal (X units), Uzbekistan (X units), Lebanon (X units), Sri Lanka (X units), Armenia (X units), Myanmar (X units), the United Arab Emirates (X units), Turkey (X units) and Indonesia (X units) was the major importer of iron or steel crown corks in Asia, committing 77% of total import. The Philippines (X units) held a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Armenia (with a CAGR of +17.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), Israel ($X) and Vietnam ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for 27% of total imports. Sri Lanka, Uzbekistan, Nepal, Lao People's Democratic Republic, Myanmar, the Philippines, Lebanon, Indonesia, the United Arab Emirates and Armenia lagged somewhat behind, together accounting for a further 39%.

In terms of the main importing countries, Uzbekistan, with a CAGR of +14.7%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia stood at $X per thousand units in 2022, with an increase of 15% against the previous year. Over the last decade, it increased at an average annual rate of +1.4%. The pace of growth appeared the most rapid in 2017 when the import price increased by 51%. Over the period under review, import prices attained the peak figure at $X per thousand units in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Turkey ($X per thousand units), while Armenia ($X per thousand units) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+6.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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