Latin America and the Caribbean: Base Metal Closure Market 2025

Base Metal Closure Market Size in Latin America and the Caribbean

The Latin American base metal closure market dropped modestly to $X in 2021, falling by -4.4% against the previous year. The total consumption indicated a tangible increase from 2012 to 2021: its value increased at an average annual rate of +4.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -9.1% against 2018 indices. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

Base Metal Closure Production in Latin America and the Caribbean

In value terms, base metal closure production declined to $X in 2021 estimated in export price. The total production indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -3.2% against 2018 indices. The pace of growth was the most pronounced in 2018 when the production volume increased by 47%. As a result, production reached the peak level of $X. From 2019 to 2021, production growth remained at a lower figure.

Base Metal Closure Exports

Exports in Latin America and the Caribbean

Base metal closure exports soared to X tons in 2021, with an increase of 36% on the previous year. In general, exports continue to indicate a remarkable increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, base metal closure exports expanded significantly to $X in 2021. Overall, exports continue to indicate buoyant growth. The growth pace was the most rapid in 2018 when exports increased by 29% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to see steady growth in the near future.

Exports by Country

Mexico represented the key exporter of base metal closures, stoppers, caps and lids in Latin America and the Caribbean, with the volume of exports reaching X tons, which was approx. 67% of total exports in 2021. It was distantly followed by Brazil (X tons), Costa Rica (X tons) and Peru (X tons), together creating a 21% share of total exports. The following exporters - Paraguay (X tons), the Dominican Republic (X tons) and Chile (X tons) - together made up 8% of total exports.

From 2012 to 2021, average annual rates of growth with regard to base metal closure exports from Mexico stood at +10.3%. At the same time, Paraguay (+173.3%), Peru (+35.8%), the Dominican Republic (+25.6%), Chile (+6.5%), Brazil (+3.7%) and Costa Rica (+3.3%) displayed positive paces of growth. Moreover, Paraguay emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +173.3% from 2012-2021. From 2012 to 2021, the share of Mexico, Peru, Paraguay and the Dominican Republic increased by +4.8, +4.1, +3.6 and +1.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) remains the largest base metal closure supplier in Latin America and the Caribbean, comprising 57% of total exports. The second position in the ranking was held by Brazil ($X), with a 19% share of total exports. It was followed by Paraguay, with a 6.3% share.

From 2012 to 2021, the average annual growth rate of value in Mexico totaled +8.8%. In the other countries, the average annual rates were as follows: Brazil (+6.5% per year) and Paraguay (+134.1% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2021, waning by -18.5% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of 23% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Chile ($X per ton), while Peru ($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 Dominican Republic (+6.1%), while the other leaders experienced more modest paces of growth.

Base Metal Closure Imports

Imports in Latin America and the Caribbean

Base metal closure imports amounted to X tons in 2021, surging by 6.8% against 2020. The total import volume increased at an average annual rate of +5.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 22%. The volume of import peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, base metal closure imports soared to $X in 2021. The total import value increased at an average annual rate of +2.8% from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The countries with the highest levels of base metal closure imports in 2021 were Mexico (X tons), Chile (X tons), Peru (X tons), Argentina (X tons), Brazil (X tons), Guatemala (X tons), Colombia (X tons) and Ecuador (X tons), together resulting at 82% of total import.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Chile (with a CAGR of +9.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest base metal closure importing markets in Latin America and the Caribbean were Mexico ($X), Argentina ($X) and Chile ($X), with a combined 44% share of total imports.

Argentina, with a CAGR of +10.4%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2021, increasing by 8.5% against the previous year. In general, the import price, however, saw a noticeable setback. Over the period under review, import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Argentina ($X per ton), while Ecuador ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Argentina (+1.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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