Belgium: Base Metal Closure Market 2024

Base Metal Closure Market Size in Belgium

The Belgian base metal closure market skyrocketed to $X in 2021, increasing by 23% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, the total consumption indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +7.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +94.7% against 2018 indices. Base metal closure consumption peaked in 2021 and is expected to retain growth in the near future.

Base Metal Closure Exports

Exports from Belgium

In 2021, approx. X tons of base metal closures, stoppers, caps and lids were exported from Belgium; shrinking by -19.6% compared with the year before. In general, exports recorded a slight contraction. The most prominent rate of growth was recorded in 2020 when exports increased by 766% against the previous year. As a result, the exports attained the peak of X tons, and then contracted sharply in the following year.

In value terms, base metal closure exports reached $X in 2021. Over the period under review, exports, however, recorded a modest increase. The most prominent rate of growth was recorded in 2020 when exports increased by 248%. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

The Netherlands (X tons) was the main destination for base metal closure exports from Belgium, accounting for a 59% share of total exports. Moreover, base metal closure exports to the Netherlands exceeded the volume sent to the second major destination, France (X tons), twofold. The third position in this ranking was held by Spain (X tons), with a 2.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the Netherlands stood at -2.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (-0.1% per year) and Spain (+28.9% per year).

In value terms, the largest markets for base metal closure exported from Belgium were France ($X), the Netherlands ($X) and Italy ($X), with a combined 71% share of total exports. Spain and Russia lagged somewhat behind, together accounting for a further 7.1%.

Russia, with a CAGR of +44.0%, saw the highest rates of growth with regard to 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

The average base metal closure export price stood at $X per ton in 2021, growing by 24% against the previous year. In general, the export price showed a tangible increase. The pace of growth was the most pronounced in 2019 when the average export price increased by 46% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2020 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Italy ($X per ton), while the average price for exports to the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+27.3%), while the prices for the other major destinations experienced mixed trend patterns.

Base Metal Closure Imports

Imports into Belgium

In 2021, purchases abroad of base metal closures, stoppers, caps and lids increased by 12% to X tons, rising for the fifth year in a row after three years of decline. Over the period under review, imports recorded resilient growth. The pace of growth was the most pronounced in 2020 with an increase of 78% against the previous year. Imports peaked in 2021 and are expected to retain growth in the near future.

In value terms, base metal closure imports skyrocketed to $X in 2021. Overall, imports recorded a resilient expansion. The pace of growth appeared the most rapid in 2020 when imports increased by 85%. Imports peaked in 2021 and are likely to see gradual growth in years to come.

Imports by Country

The Netherlands (X tons), France (X tons) and Italy (X tons) were the main suppliers of base metal closure imports to Belgium, together comprising 55% of total imports. These countries were followed by Germany, the Czech Republic, Poland, China, the UK and the United States, which together accounted for a further 37%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Czech Republic (with a CAGR of +88.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest base metal closure suppliers to Belgium were the Netherlands ($X), France ($X) and Germany ($X), together comprising 58% of total imports. Poland, Italy, China, the Czech Republic, the UK and the United States lagged somewhat behind, together comprising a further 34%.

The Czech Republic, with a CAGR of +64.2%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average base metal closure import price amounted to $X per ton, rising by 5.7% against the previous year. In general, the import price, however, saw a abrupt curtailment. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the UK ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+3.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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