Malaysia: Metal Crown Cork Market 2024

Metal Crown Cork Market Size in Malaysia

The Malaysian metal crown cork market contracted to $X in 2022, with a decrease of -2.8% against the previous year. Overall, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Metal Crown Cork Production in Malaysia

In value terms, metal crown cork production reduced modestly to $X in 2022 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the production volume increased by 17% against the previous year. Metal crown cork production peaked at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Metal Crown Cork Exports

Exports from Malaysia

In 2022, the amount of iron or steel crown corks exported from Malaysia shrank to X units, waning by -12.5% on the previous year. In general, exports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 340%. Over the period under review, the exports hit record highs at X units in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, metal crown cork exports fell rapidly to $X in 2022. Over the period under review, exports, however, recorded a notable increase. The most prominent rate of growth was recorded in 2013 with an increase of 449% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Cambodia (X units) was the main destination for metal crown cork exports from Malaysia, with a 74% share of total exports. Moreover, metal crown cork exports to Cambodia exceeded the volume sent to the second major destination, Singapore (X units), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Cambodia amounted to -14.9%.

In value terms, Cambodia ($X) remains the key foreign market for iron or steel crown corks exports from Malaysia, comprising 70% of total exports. The second position in the ranking was taken by Singapore ($X), with a 30% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Cambodia totaled -12.6%.

Export Prices by Country

The average metal crown cork export price stood at $X per thousand units in 2022, shrinking by -7.1% against the previous year. In general, export price indicated a measured increase from 2012 to 2022: its price increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, metal crown cork export price decreased by -25.0% against 2017 indices. The most prominent rate of growth was recorded in 2017 when the average export price increased by 75%. As a result, the export price attained the peak level of $X per thousand units. From 2018 to 2022, the average export prices remained at a lower figure.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per thousand units), while the average price for exports to Cambodia stood at $X per thousand units.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (+20.0%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Crown Cork Imports

Imports into Malaysia

Metal crown cork imports into Malaysia dropped to X units in 2022, reducing by -10.3% compared with the year before. In general, imports saw a abrupt downturn. The most prominent rate of growth was recorded in 2018 with an increase of 276% against the previous year. Over the period under review, imports hit record highs at X units in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, metal crown cork imports plummeted to $X in 2022. Overall, imports saw a abrupt setback. The most prominent rate of growth was recorded in 2021 with an increase of 119% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

Japan (X units), Thailand (X units) and Indonesia (X units) were the main suppliers of metal crown cork imports to Malaysia, together comprising 94% of total imports.

From 2012 to 2022, the biggest increases were recorded for Japan (with a CAGR of +19.0%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Japan ($X) constituted the largest supplier of iron or steel crown corks to Malaysia, comprising 57% of total imports. The second position in the ranking was held by China ($X), with an 18% share of total imports. It was followed by Thailand, with a 17% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Japan stood at +23.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+3.9% per year) and Thailand (+5.3% per year).

Import Prices by Country

The average metal crown cork import price stood at $X per thousand units in 2022, which is down by -18.9% against the previous year. In general, the import price showed a pronounced decrease. The pace of growth was the most pronounced in 2021 when the average import price increased by 88% against the previous year. The import price peaked at $X per thousand units in 2017; however, from 2018 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per thousand units), while the price for Thailand ($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 China (+12.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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