MENA: Base Metal Closure Market 2024

Base Metal Closure Market Size in MENA

The MENA's base metal closure market was estimated at $X in 2021, surging by 8.6% against the previous year. The total consumption indicated measured growth from 2012 to 2021: its value increased at an average annual rate of +4.8% 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 decreased by -8.0% against 2019 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Base Metal Closure Production in MENA

In value terms, base metal closure production soared to $X in 2021 estimated in export price. The total production indicated a notable expansion from 2012 to 2021: its value increased at an average annual rate of +4.0% 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 decreased by -12.5% against 2019 indices. The pace of growth was the most pronounced in 2017 when the production volume increased by 28%. The level of production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Base Metal Closure Exports

Exports in MENA

After two years of decline, overseas shipments of base metal closures, stoppers, caps and lids increased by 62% to X tons in 2021. In general, exports continue to indicate a resilient increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, base metal closure exports skyrocketed to $X in 2021. Total exports indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +7.0% 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

Turkey was the main exporting country with an export of about X tons, which accounted for 51% of total exports. The United Arab Emirates (X tons) held a 30% share (based on physical terms) of total exports, which put it in second place, followed by Saudi Arabia (17%).

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Turkey (with a CAGR of +21.9%), while the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), Turkey ($X) and Saudi Arabia ($X) constituted the countries with the highest levels of exports in 2021, together accounting for 99% of total exports.

Turkey, with a CAGR of +20.1%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries 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 MENA amounted to $X per ton, rising by 11% against the previous year. Overall, the export price, however, recorded a pronounced shrinkage. The pace of growth was the most pronounced in 2019 when the export price increased by 12%. The level of export peaked at $X per ton in 2012; however, from 2013 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 Saudi Arabia ($X per ton), while Turkey ($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 United Arab Emirates (-0.2%), while the other leaders experienced a decline in the export price figures.

Base Metal Closure Imports

Imports in MENA

In 2021, imports of base metal closures, stoppers, caps and lids in MENA expanded remarkably to X tons, surging by 15% on 2020 figures. The total import volume increased at an average annual rate of +5.7% over the period from 2012 to 2021; however, the trend pattern 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 skyrocketed to $X in 2021. The total import value increased at an average annual rate of +4.9% over the period 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

The countries with the highest levels of base metal closure imports in 2021 were Turkey (X tons), Saudi Arabia (X tons), Morocco (X tons), the United Arab Emirates (X tons), Egypt (X tons), Tunisia (X tons), Iraq (X tons), Oman (X tons), Jordan (X tons), Algeria (X tons), Israel (X tons) and Lebanon (X tons), together recording 93% of total import.

From 2012 to 2021, the biggest increases were recorded for Iraq (with a CAGR of +33.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), Morocco ($X) and Saudi Arabia ($X) were the countries with the highest levels of imports in 2021, together accounting for 44% of total imports. These countries were followed by Egypt, the United Arab Emirates, Jordan, Israel, Tunisia, Iraq, Algeria, Oman and Lebanon, which together accounted for a further 49%.

Among the main importing countries, Iraq, with a CAGR of +29.7%, saw the highest rates of growth with regard to 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 MENA amounted to $X per ton, growing by 7% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Morocco (+1.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform