China: Metal Crown Cork Market 2024

Metal Crown Cork Market Size in China

The Chinese metal crown cork market fell modestly to $X in 2022, approximately equating the previous year. In general, consumption showed a mild reduction. Metal crown cork consumption peaked at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Metal Crown Cork Production in China

In value terms, metal crown cork production declined modestly to $X in 2022 estimated in export price. Over the period under review, production saw a slight shrinkage. The growth pace was the most rapid in 2017 with an increase of 29%. 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 from China

In 2022, shipments abroad of iron or steel crown corks increased by 22% to X units, rising for the third consecutive year after three years of decline. In general, exports, however, recorded a perceptible downturn. The most prominent rate of growth was recorded in 2016 with an increase of 23% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, metal crown cork exports surged to $X in 2022. Over the period under review, exports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when exports increased by 37%. The exports peaked in 2022 and are likely to continue growth in years to come.

Exports by Country

Myanmar (X units) was the main destination for metal crown cork exports from China, with a 35% share of total exports. Moreover, metal crown cork exports to Myanmar exceeded the volume sent to the second major destination, the United States (X units), fourfold. The third position in this ranking was held by Vietnam (X units), with an 8.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Myanmar totaled +67.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-11.2% per year) and Vietnam (+15.7% per year).

In value terms, the largest markets for metal crown cork exported from China were the United States ($X), France ($X) and Myanmar ($X), together comprising 37% of total exports.

Among the main countries of destination, Myanmar, with a CAGR of +60.3%, saw the highest rates of growth with regard to the value of exports, 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 metal crown cork export price amounted to $X per thousand units, almost unchanged from the previous year. Over the last decade, it increased at an average annual rate of +2.6%. The pace of growth was the most pronounced in 2019 when the average export price increased by 21% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per thousand units in 2021, and then dropped in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was France ($X per thousand units), while the average price for exports to Myanmar ($X per thousand units) 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 (+11.6%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Crown Cork Imports

Imports into China

In 2022, imports of iron or steel crown corks into China shrank significantly to X units, dropping by -24.6% compared with 2021 figures. Overall, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when imports increased by 136%. As a result, imports reached the peak of X units. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, metal crown cork imports dropped slightly to $X in 2022. In general, imports, however, showed a modest expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 100% against the previous year. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Italy (X units) constituted the largest supplier of metal crown cork to China, with a 79% share of total imports. Moreover, metal crown cork imports from Italy exceeded the figures recorded by the second-largest supplier, Germany (X units), fourfold. Japan (X units) ranked third in terms of total imports with a 2% share.

From 2012 to 2022, the average annual growth rate of volume from Italy totaled +6.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-5.3% per year) and Japan (-10.2% per year).

In value terms, Italy ($X) constituted the largest supplier of iron or steel crown corks to China, comprising 69% of total imports. The second position in the ranking was held by Germany ($X), with a 26% share of total imports. It was followed by Japan, with a 3.2% share.

From 2012 to 2022, the average annual growth rate of value from Italy stood at +20.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-4.7% per year) and Japan (-4.8% per year).

Import Prices by Country

The average metal crown cork import price stood at $X per thousand units in 2022, growing by 28% against the previous year. In general, the import price posted modest growth. The most prominent rate of growth was recorded in 2021 an increase of 64%. The import price peaked 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 supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per thousand units), while the price for Italy ($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 United States (+37.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :