Malaysia: Base Metal Closure Market 2024

Base Metal Closure Market Size in Malaysia

The Malaysian base metal closure market dropped to $X in 2021, which is down by -6.3% against the previous year. In general, the total consumption indicated a notable increase from 2012 to 2021: its value increased at an average annual rate of +2.2% 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 +6.0% against 2019 indices. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Base Metal Closure Production in Malaysia

In value terms, base metal closure production shrank to $X in 2021 estimated in export price. Over the period under review, the total production indicated measured growth from 2012 to 2021: its value increased at an average annual rate of +2.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +2.3% against 2019 indices. The most prominent rate of growth was recorded in 2015 with an increase of 36%. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Base Metal Closure Exports

Exports from Malaysia

Base metal closure exports from Malaysia surged to X tons in 2021, picking up by 28% compared with the year before. Overall, exports posted a prominent expansion. The growth pace was the most rapid in 2019 with an increase of 33%. As a result, the exports attained the peak of X tons. From 2020 to 2021, the growth of the exports remained at a lower figure.

In value terms, base metal closure exports skyrocketed to $X in 2021. In general, total exports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +7.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Vietnam (X tons), New Zealand (X tons) and Singapore (X tons) were the main destinations of base metal closure exports from Malaysia, with a combined 38% share of total exports. Thailand, Indonesia, the United States, Myanmar, Ghana, Brazil, Australia, China and Japan lagged somewhat behind, together accounting for a further 49%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Myanmar (with a CAGR of +146.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for base metal closure exported from Malaysia were Vietnam ($X), the United States ($X) and New Zealand ($X), together accounting for 37% of total exports. These countries were followed by Thailand, Singapore, Indonesia, Myanmar, Ghana, Brazil, Australia, Japan and China, which together accounted for a further 46%.

Among the main countries of destination, Myanmar, with a CAGR of +174.7%, recorded 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

The average base metal closure export price stood at $X per ton in 2021, picking up by 36% against the previous year. Overall, the export price, however, saw a slight slump. Over the period under review, the average export prices reached the maximum at $X per ton in 2017; however, from 2018 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was the United States ($X per ton), while the average price for exports to China ($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 Myanmar (+11.6%), while the prices for the other major destinations experienced more modest paces of growth.

Base Metal Closure Imports

Imports into Malaysia

In 2021, supplies from abroad of base metal closures, stoppers, caps and lids increased by 6.4% to X tons, rising for the third consecutive year after two years of decline. The total import volume increased at an average annual rate of +5.1% 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 2013 when imports increased by 29%. Imports peaked in 2021 and are expected to retain growth in years to come.

In value terms, base metal closure imports soared to $X in 2021. The total import value increased at an average annual rate of +3.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 with an increase of 28%. Over the period under review, imports attained the maximum in 2021 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest base metal closure supplier to Malaysia, with a 43% share of total imports. Moreover, base metal closure imports from China exceeded the figures recorded by the second-largest supplier, Singapore (X tons), threefold. The third position in this ranking was held by Vietnam (X tons), with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +16.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (-5.6% per year) and Vietnam (+70.8% per year).

In value terms, China ($X) constituted the largest supplier of base metal closures, stoppers, caps and lids to Malaysia, comprising 31% of total imports. The second position in the ranking was held by Vietnam ($X), with a 13% share of total imports. It was followed by Singapore, with a 12% share.

From 2012 to 2021, the average annual growth rate of value from China stood at +17.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+68.6% per year) and Singapore (-7.0% per year).

Import Prices by Country

In 2021, the average base metal closure import price amounted to $X per ton, rising by 9.4% against the previous year. In general, the import price, however, saw a slight decline. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the Philippines ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+1.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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