Canada: Base Metal Closure Market 2024

Base Metal Closure Market Size in Canada

In 2021, the Canadian base metal closure market was finally on the rise to reach $X for the first time since 2017, thus ending a three-year declining trend. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market remained at a lower figure.

Base Metal Closure Production in Canada

In value terms, base metal closure production dropped to $X in 2021 estimated in export price. In general, production continues to indicate a abrupt slump. The pace of growth appeared the most rapid in 2017 when the production volume increased by 63% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2021, production growth failed to regain momentum.

Base Metal Closure Exports

Exports from Canada

For the fifth year in a row, Canada recorded growth in shipments abroad of base metal closures, stoppers, caps and lids, which increased by 7.7% to X tons in 2021. The total export volume increased at an average annual rate of +5.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 with an increase of 22%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in years to come.

In value terms, base metal closure exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +4.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for base metal closure exports from Canada, with a approx. 98% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to the United States stood at +5.2%.

In value terms, the United States ($X) also remains the key foreign market for base metal closures, stoppers, caps and lids exports from Canada.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States amounted to +5.0%.

Export Prices by Country

The average base metal closure export price stood at $X per ton in 2021, surging by 12% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. Over the period under review, the average export prices attained the maximum at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2012 to 2021, the rate of growth in terms of prices for the United States amounted to -0.2% per year.

Base Metal Closure Imports

Imports into Canada

In 2021, approx. X tons of base metal closures, stoppers, caps and lids were imported into Canada; jumping by 54% against the previous year's figure. Overall, imports continue to indicate a strong increase. The most prominent rate of growth was recorded in 2019 when imports increased by 82%. Imports peaked in 2021 and are expected to retain growth in years to come.

In value terms, base metal closure imports surged to $X in 2021. The total import value increased at an average annual rate of +3.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2020 with an increase of 18%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the near future.

Imports by Country

In 2021, the United States (X tons) constituted the largest base metal closure supplier to Canada, with a 85% share of total imports. Moreover, base metal closure imports from the United States exceeded the figures recorded by the second-largest supplier, China (X tons), more than tenfold. Mexico (X tons) ranked third in terms of total imports with a 2.2% share.

From 2012 to 2021, the average annual growth rate of volume from the United States amounted to +10.8%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+17.7% per year) and Mexico (+24.7% per year).

In value terms, the United States ($X) constituted the largest supplier of base metal closures, stoppers, caps and lids to Canada, comprising 79% of total imports. The second position in the ranking was taken by China ($X), with a 10% share of total imports. It was followed by France, with a 2.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States amounted to +2.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+15.2% per year) and France (+1.9% per year).

Import Prices by Country

The average base metal closure import price stood at $X per ton in 2021, waning by -24.1% against the previous year. Overall, the import price continues to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2020 when the average import price increased by 56% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was China ($X per ton), while the price for Mexico ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (-2.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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