Peru: Metal Crown Cork Market 2024

Metal Crown Cork Market Size in Peru

The Peruvian metal crown cork market reduced to $X in 2022, shrinking by -3.3% against the previous year. Overall, consumption saw a pronounced descent. The most prominent rate of growth was recorded in 2021 with an increase of 7.1%. Metal crown cork consumption peaked at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Metal Crown Cork Production in Peru

In value terms, metal crown cork production dropped to $X in 2022 estimated in export price. Overall, production saw a perceptible setback. The most prominent rate of growth was recorded in 2019 with an increase of 17% against the previous year. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Metal Crown Cork Exports

Exports from Peru

In 2022, after five years of growth, there was decline in overseas shipments of iron or steel crown corks, when their volume decreased by -4.8% to X units. Overall, exports, however, posted a tangible expansion. The most prominent rate of growth was recorded in 2019 with an increase of 75% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2021, and then shrank modestly in the following year.

In value terms, metal crown cork exports fell to $X in 2022. Over the period under review, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 70%. The exports peaked at $X in 2021, and then contracted in the following year.

Exports by Country

Brazil (X units) was the main destination for metal crown cork exports from Peru, accounting for a 81% share of total exports. Moreover, metal crown cork exports to Brazil exceeded the volume sent to the second major destination, Bolivia (X units), tenfold. Chile (X units) ranked third in terms of total exports with a 7% share.

From 2012 to 2022, the average annual growth rate of volume to Brazil totaled +28.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bolivia (+6.3% per year) and Chile (+39.1% per year).

In value terms, Brazil ($X) remains the key foreign market for iron or steel crown corks exports from Peru, comprising 75% of total exports. The second position in the ranking was held by Chile ($X), with an 11% share of total exports. It was followed by Bolivia, with a 9% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Brazil stood at +28.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (+45.7% per year) and Bolivia (+6.0% per year).

Export Prices by Country

The average metal crown cork export price stood at $X per thousand units in 2022, declining by -7.9% against the previous year. In general, the export price showed a pronounced descent. The most prominent rate of growth was recorded in 2021 an increase of 20%. The export price peaked at $X per thousand units in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Chile ($X per thousand units), while the average price for exports to Brazil ($X per thousand units) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Chile (+4.7%), while the prices for the other major destinations experienced mixed trend patterns.

Metal Crown Cork Imports

Imports into Peru

In 2022, after two years of growth, there was decline in supplies from abroad of iron or steel crown corks, when their volume decreased by -4.3% to X units. In general, imports, however, saw strong growth. The pace of growth appeared the most rapid in 2017 with an increase of 896%. Imports peaked at X units in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, metal crown cork imports shrank modestly to $X in 2022. Over the period under review, imports, however, showed prominent growth. The growth pace was the most rapid in 2017 when imports increased by 662% against the previous year. Imports peaked at $X in 2021, and then fell in the following year.

Imports by Country

In 2022, Colombia (X units) was the main supplier of metal crown cork to Peru, with a 96% share of total imports. Moreover, metal crown cork imports from Colombia exceeded the figures recorded by the second-largest supplier, Mexico (X units), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from Colombia amounted to +252.7%.

In value terms, Colombia ($X) constituted the largest supplier of iron or steel crown corks to Peru, comprising 97% of total imports. The second position in the ranking was taken by Mexico ($X), with a 2.7% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Colombia amounted to +204.5%.

Import Prices by Country

In 2022, the average metal crown cork import price amounted to $X per thousand units, flattening at the previous year. Over the period under review, the import price, however, recorded a mild reduction. The pace of growth was the most pronounced in 2020 when the average import price increased by 20% against the previous year. The import price peaked at $X per thousand units in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Colombia ($X per thousand units), while the price for Mexico amounted to $X per thousand units.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Honduras (+19.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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