Middle East: Metal Crown Cork Market 2024

Metal Crown Cork Market Size in the Middle East

The Middle Eastern metal crown cork market stood at $X in 2022, leveling off at the previous year. Overall, consumption showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a somewhat lower figure.

Metal Crown Cork Production in the Middle East

In value terms, metal crown cork production reduced to $X in 2022 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the production volume increased by 16%. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

Metal Crown Cork Exports

Exports in the Middle East

Metal crown cork exports reduced remarkably to X units in 2022, waning by -96.7% compared with the previous year's figure. Overall, exports showed a abrupt slump. The most prominent rate of growth was recorded in 2020 when exports increased by 199% against the previous year. As a result, the exports attained the peak of X units. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, metal crown cork exports fell significantly to $X in 2022. Over the period under review, exports, however, enjoyed a strong expansion. The pace of growth was the most pronounced in 2014 with an increase of 201% against the previous year. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Turkey was the major exporting country with an export of around X units, which resulted at 73% of total exports. It was distantly followed by the United Arab Emirates (X units), comprising a 16% share of total exports. Iran (X units) and Jordan (X units) followed a long way behind the leaders.

Exports from Turkey increased at an average annual rate of +15.2% from 2012 to 2022. At the same time, Iran (+37.3%) displayed positive paces of growth. Moreover, Iran emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +37.3% from 2012-2022. By contrast, the United Arab Emirates (-8.7%) and Jordan (-25.2%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Turkey and Iran increased by +63 and +3.9 percentage points, respectively.

In value terms, Turkey ($X) remains the largest metal crown cork supplier in the Middle East, comprising 94% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 4.2% share of total exports. It was followed by Jordan, with a 0.8% share.

In Turkey, metal crown cork exports increased at an average annual rate of +17.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United Arab Emirates (-11.0% per year) and Jordan (-23.9% per year).

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per thousand units, rising by 151% against the previous year. In general, the export price posted prominent growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Turkey ($X per thousand units), while Iran ($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 Turkey (+2.2%), while the other leaders experienced mixed trends in the export price figures.

Metal Crown Cork Imports

Imports in the Middle East

In 2022, after two years of growth, there was decline in purchases abroad of iron or steel crown corks, when their volume decreased by -0.1% to X units. The total import volume increased at an average annual rate of +1.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2015 with an increase of 18%. As a result, imports reached the peak of X units. From 2016 to 2022, the growth of imports remained at a lower figure.

In value terms, metal crown cork imports soared to $X in 2022. Total imports indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -13.2% against 2019 indices. The pace of growth appeared the most rapid in 2017 when imports increased by 61%. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Israel (X units) and Lebanon (X units) represented the major importers of iron or steel crown corks in the Middle East, together accounting for approx. 46% of total imports. The United Arab Emirates (X units) held a 13% share (based on physical terms) of total imports, which put it in second place, followed by Turkey (12%), Iraq (9.9%), Yemen (6.5%) and Jordan (4.8%).

From 2012 to 2022, the biggest increases were recorded for Iraq (with a CAGR of +24.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), Israel ($X) and Lebanon ($X) constituted the countries with the highest levels of imports in 2022, together accounting for 56% of total imports. These countries were followed by the United Arab Emirates, Iraq, Yemen and Jordan, which together accounted for a further 18%.

In terms of the main importing countries, Iraq, with a CAGR of +33.7%, saw the highest growth rate of 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 2022, the import price in the Middle East amounted to $X per thousand units, increasing by 39% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the import price increased by 66% against the previous year. The level of import peaked at $X per thousand units in 2019; however, from 2020 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Turkey ($X per thousand units), while Jordan ($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 Yemen (+12.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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