Portugal: Aluminium Foil Market 2024

Aluminium Foil Market Size in Portugal

In 2022, the Portuguese aluminium foil market increased by 25% to $X, rising for the second consecutive year after two years of decline. In general, consumption, however, posted a strong increase. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the immediate term.

Aluminium Foil Exports

Exports from Portugal

For the fourth year in a row, Portugal recorded growth in shipments abroad of aluminium foil, which increased by 1.6% to X tons in 2022. Overall, exports, however, showed a abrupt decrease. The growth pace was the most rapid in 2017 with an increase of 115%. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, aluminium foil exports expanded remarkably to $X in 2022. Over the period under review, exports, however, recorded a perceptible contraction. The most prominent rate of growth was recorded in 2017 when exports increased by 109%. Over the period under review, the exports reached the maximum at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

The UK (X tons) was the main destination for aluminium foil exports from Portugal, with a 57% share of total exports. Moreover, aluminium foil exports to the UK exceeded the volume sent to the second major destination, Angola (X tons), threefold. Spain (X tons) ranked third in terms of total exports with an 8.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the UK stood at +199.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Angola (+3.0% per year) and Spain (-28.0% per year).

In value terms, the UK ($X) remains the key foreign market for aluminium foil exports from Portugal, comprising 42% of total exports. The second position in the ranking was taken by Angola ($X), with a 19% share of total exports. It was followed by Spain, with a 14% share.

From 2012 to 2022, the average annual growth rate of value to the UK amounted to +192.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Angola (-0.0% per year) and Spain (-17.8% per year).

Export Prices by Country

The average aluminium foil export price stood at $X per ton in 2022, rising by 3.9% against the previous year. Overall, export price indicated a buoyant expansion from 2012 to 2022: its price increased at an average annual rate of +6.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, aluminium foil export price increased by +24.4% against 2018 indices. The most prominent rate of growth was recorded in 2014 an increase of 42%. Over the period under review, the average export prices hit record highs in 2022 and is likely to see steady growth in years to come.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Spain ($X per ton), while the average price for exports to the UK ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+14.2%), while the prices for the other major destinations experienced more modest paces of growth.

Aluminium Foil Imports

Imports into Portugal

After two years of growth, purchases abroad of aluminium foil decreased by -2.1% to X tons in 2022. Overall, total imports indicated resilient growth from 2012 to 2022: its volume increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +27.2% against 2019 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 25% against the previous year. As a result, imports reached the peak of X tons, and then shrank slightly in the following year.

In value terms, aluminium foil imports soared to $X in 2022. In general, total imports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +9.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +89.0% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 40%. Imports peaked in 2022 and are likely to continue growth in the immediate term.

Imports by Country

Italy (X tons), Spain (X tons) and China (X tons) were the main suppliers of aluminium foil imports to Portugal, together accounting for 54% of total imports. Germany, Turkey, Sweden, France and Belgium lagged somewhat behind, together accounting for a further 39%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of +39.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Italy ($X) and Spain ($X) were the largest aluminium foil suppliers to Portugal, with a combined 62% share of total imports.

China, with a CAGR of +46.7%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average aluminium foil import price stood at $X per ton in 2022, picking up by 38% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.4%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 China ($X per ton), while the price for Sweden ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+14.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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