Europe: Base Metal Closure Market 2024

Base Metal Closure Market Size in Europe

In 2021, the Europe base metal closure market was finally on the rise to reach $X after two years of decline. Overall, consumption showed a significant expansion. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Base Metal Closure Production in Europe

In value terms, base metal closure production expanded notably to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.7% over the period from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when the production volume increased by 14%. Over the period under review, production reached the maximum level in 2021 and is expected to retain growth in the immediate term.

Base Metal Closure Exports

Exports in Europe

In 2021, the amount of base metal closures, stoppers, caps and lids exported in Europe rose remarkably to X tons, increasing by 7.6% on the year before. The total export volume increased at an average annual rate of +3.8% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2020 with an increase of 11% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in the immediate term.

In value terms, base metal closure exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +3.7% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The biggest shipments were from Italy (X tons), Poland (X tons), Spain (X tons), France (X tons), Germany (X tons) and the Czech Republic (X tons), together accounting for 71% of total export. It was distantly followed by the Netherlands (X tons), creating a 5.3% share of total exports. The UK (X tons), Ireland (X tons), Ukraine (X tons), Hungary (X tons), Greece (X tons) and Russia (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Hungary (with a CAGR of +14.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest base metal closure supplying countries in Europe were Poland ($X), Germany ($X) and Spain ($X), with a combined 43% share of total exports.

Among the main exporting countries, Poland, with a CAGR of +13.8%, recorded the highest growth rate of 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 2021, the export price in Europe amounted to $X per ton, rising by 9.2% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the export price increased by 9.5%. Over the period under review, the export prices hit record highs at $X per ton in 2012; afterwards, it flattened through to 2021.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was the UK ($X per ton), while the Czech Republic ($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 Netherlands (+3.5%), while the other leaders experienced more modest paces of growth.

Base Metal Closure Imports

Imports in Europe

For the fifth year in a row, Europe recorded growth in purchases abroad of base metal closures, stoppers, caps and lids, which increased by 0.9% to X tons in 2021. The total import volume increased at an average annual rate of +3.7% 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 2020 with an increase of 8.2%. The volume of import peaked in 2021 and is likely to see gradual growth in the near future.

In value terms, base metal closure imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +3.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

France (X tons), Germany (X tons), the Netherlands (X tons), Belgium (X tons), the UK (X tons), Spain (X tons), Poland (X tons), Russia (X tons), Austria (X tons), Italy (X tons), Greece (X tons) and Hungary (X tons) represented roughly 83% of total imports in 2021.

From 2012 to 2021, the biggest increases were recorded for Belgium (with a CAGR of +13.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, France ($X), Germany ($X) and the Netherlands ($X) appeared to be the countries with the highest levels of imports in 2021, together accounting for 36% of total imports. These countries were followed by the UK, Spain, Italy, Austria, Poland, Russia, Belgium, Hungary and Greece, which together accounted for a further 44%.

Among the main importing countries, Greece, with a CAGR of +8.9%, 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

In 2021, the import price in Europe amounted to $X per ton, rising by 14% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. Over the period under review, import prices reached the maximum at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Italy ($X per ton), while Belgium ($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 Netherlands (+4.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform