India: Base Metal Closure Market 2024

Base Metal Closure Market Size in India

After seven years of growth, the Indian base metal closure market decreased by -6.5% to $X in 2021. Overall, the total consumption indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +5.8% 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 +67.2% against 2013 indices. Base metal closure consumption peaked at $X in 2020, and then declined in the following year.

Base Metal Closure Production in India

In value terms, base metal closure production fell to $X in 2021 estimated in export price. In general, the total production indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +5.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +68.0% against 2013 indices. The most prominent rate of growth was recorded in 2020 when the production volume increased by 14% against the previous year. As a result, production attained the peak level of $X, and then contracted in the following year.

Base Metal Closure Exports

Exports from India

In 2021, after two years of decline, there was significant growth in shipments abroad of base metal closures, stoppers, caps and lids, when their volume increased by 39% to X tons. Overall, total exports indicated measured growth from 2012 to 2021: its volume increased at an average annual rate of +4.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 43% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are likely to see gradual growth in the immediate term.

In value terms, base metal closure exports surged to $X in 2021. In general, total exports indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +7.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +90.8% against 2015 indices. The growth pace was the most rapid in 2014 with an increase of 54%. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in years to come.

Exports by Country

The United States (X tons) was the main destination for base metal closure exports from India, accounting for a 26% share of total exports. Moreover, base metal closure exports to the United States exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), threefold. The third position in this ranking was taken by Germany (X tons), with a 6.6% share.

From 2012 to 2021, the average annual growth rate of volume to the United States stood at +11.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+6.3% per year) and Germany (+6.3% per year).

In value terms, the United States ($X) remains the key foreign market for base metal closures, stoppers, caps and lids exports from India, comprising 29% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 6.4% share of total exports. It was followed by South Korea, with a 6.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States totaled +15.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+5.5% per year) and South Korea (+12.8% per year).

Export Prices by Country

The average base metal closure export price stood at $X per ton in 2021, rising by 2.8% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.9%. The pace of growth was the most pronounced in 2019 an increase of 22% against the previous year. The export price peaked in 2021 and is expected to retain growth in years to come.

Prices varied noticeably country of destination: the country with the highest price was Singapore ($X per ton), while the average price for exports to the United Arab Emirates ($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 Singapore (+12.2%), while the prices for the other major destinations experienced more modest paces of growth.

Base Metal Closure Imports

Imports into India

In 2021, supplies from abroad of base metal closures, stoppers, caps and lids increased by 58% to X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, total imports indicated a prominent expansion from 2012 to 2021: its volume increased at an average annual rate of +9.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, base metal closure imports soared to $X in 2021. In general, total imports indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +6.4% over the last nine years. The trend pattern, however, 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

China (X tons), the United Arab Emirates (X tons) and Poland (X tons) were the main suppliers of base metal closure imports to India, together comprising 78% of total imports.

From 2012 to 2021, the biggest increases were recorded for Poland (with a CAGR of +77.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest base metal closure suppliers to India were the United Arab Emirates ($X), China ($X) and Poland ($X), together comprising 64% of total imports.

Poland, with a CAGR of +80.4%, recorded the highest growth rate of 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, declining by -8% against the previous year. Over the period under review, the import price showed a perceptible shrinkage. The growth pace was the most rapid in 2018 an increase of 9.1%. 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 Italy ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+9.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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