Portugal: Base Metal Closure Market 2025

Base Metal Closure Market Size in Portugal

In 2021, after two years of growth, there was significant decline in the Portuguese base metal closure market, when its value decreased by -52.6% to $X. In general, consumption showed a drastic downturn. Base metal closure consumption peaked at $X in 2020, and then declined significantly in the following year.

Base Metal Closure Production in Portugal

In value terms, base metal closure production dropped slightly to $X in 2021 estimated in export price. Over the period under review, the total production indicated moderate growth from 2012 to 2021: its value increased at an average annual rate of +2.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +77.2% against 2018 indices. The most prominent rate of growth was recorded in 2019 with an increase of 72% against the previous year. Base metal closure production peaked at $X in 2020, and then shrank modestly in the following year.

Base Metal Closure Exports

Exports from Portugal

In 2021, exports of base metal closures, stoppers, caps and lids from Portugal surged to X tons, with an increase of 138% against the previous year's figure. Over the period under review, exports saw a buoyant expansion. 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 soared to $X in 2021. In general, exports saw a prominent expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Spain (X tons) was the main destination for base metal closure exports from Portugal, with a 69% share of total exports. Moreover, base metal closure exports to Spain exceeded the volume sent to the second major destination, the UK (X tons), sevenfold. The third position in this ranking was taken by France (X tons), with an 8.6% share.

From 2012 to 2021, the average annual growth rate of volume to Spain totaled +15.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+13.0% per year) and France (+22.3% per year).

In value terms, Spain ($X) remains the key foreign market for base metal closures, stoppers, caps and lids exports from Portugal, comprising 43% of total exports. The second position in the ranking was taken by France ($X), with a 13% share of total exports. It was followed by the UK, with a 12% share.

From 2012 to 2021, the average annual growth rate of value to Spain stood at +10.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+9.5% per year) and the UK (+7.2% per year).

Export Prices by Country

In 2021, the average base metal closure export price amounted to $X per ton, waning by -14.3% against the previous year. In general, the export price saw a perceptible decrease. The most prominent rate of growth was recorded in 2014 when the average export price increased by 20%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was France ($X per ton), while the average price for exports to Spain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Morocco (-0.8%), while the prices for the other major destinations experienced a decline.

Base Metal Closure Imports

Imports into Portugal

After four years of growth, purchases abroad of base metal closures, stoppers, caps and lids decreased by -1.8% to X tons in 2021. In general, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when imports increased by 35%. As a result, imports attained the peak of X tons, and then fell in the following year.

In value terms, base metal closure imports rose remarkably to $X in 2021. Over the period under review, total imports indicated a measured expansion from 2012 to 2021: its value increased at an average annual rate of +2.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +127.6% against 2016 indices. The pace of growth appeared the most rapid in 2020 with an increase of 27% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, Spain (X tons) constituted the largest base metal closure supplier to Portugal, with a 73% share of total imports. Moreover, base metal closure imports from Spain exceeded the figures recorded by the second-largest supplier, Italy (X tons), sixfold. The third position in this ranking was held by France (X tons), with a 4.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Spain totaled +3.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+3.9% per year) and France (-15.5% per year).

In value terms, Spain ($X) constituted the largest supplier of base metal closures, stoppers, caps and lids to Portugal, comprising 70% of total imports. The second position in the ranking was held by Italy ($X), with a 12% share of total imports. It was followed by France, with a 6.3% share.

From 2012 to 2021, the average annual growth rate of value from Spain totaled +5.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+5.8% per year) and France (-8.0% per year).

Import Prices by Country

The average base metal closure import price stood at $X per ton in 2021, surging by 14% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.4%. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Germany ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+8.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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