Russian Federation: Base Metal Closure Market 2024

Base Metal Closure Market Size in the Russian Federation

In 2021, after three years of growth, there was decline in the Russian base metal closure market, when its value decreased by -1.9% to $X. The market value increased at an average annual rate of +2.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2020, and then fell slightly in the following year.

Base Metal Closure Production in the Russian Federation

In value terms, base metal closure production shrank slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 when the production volume increased by 18%. Base metal closure production peaked at $X in 2020, and then contracted modestly in the following year.

Base Metal Closure Exports

Exports from the Russian Federation

In 2021, exports of base metal closures, stoppers, caps and lids from Russia reached X tons, growing by 7.6% compared with the previous year. Overall, exports posted prominent growth. The pace of growth appeared the most rapid in 2015 with an increase of 85%. The exports peaked in 2021 and are likely to see gradual growth in the immediate term.

In value terms, base metal closure exports skyrocketed to $X in 2021. In general, exports showed prominent growth. The pace of growth appeared the most rapid in 2013 with an increase of 105% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to see steady growth in the near future.

Exports by Country

Kazakhstan (X tons), Belarus (X tons) and Uzbekistan (X tons) were the main destinations of base metal closure exports from Russia, together comprising 50% of total exports. These countries were followed by Turkey, Armenia, Georgia, Turkmenistan, the United States, Tajikistan, Poland, Ukraine, Kyrgyzstan and Lithuania, which together accounted for a further 40%.

From 2012 to 2021, the biggest increases were recorded for Turkey (with a CAGR of +164.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Kazakhstan ($X), Belarus ($X) and the United States ($X) appeared to be the largest markets for base metal closure exported from Russia worldwide, with a combined 50% share of total exports. These countries were followed by Uzbekistan, Turkey, Armenia, Georgia, Poland, Ukraine, Lithuania, Kyrgyzstan, Turkmenistan and Tajikistan, which together accounted for a further 40%.

In terms of the main countries of destination, Turkey, with a CAGR of +146.3%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average base metal closure export price amounted to $X per ton, picking up by 31% against the previous year. Overall, the export price, however, recorded a mild shrinkage. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was the United States ($X per ton), while the average price for exports to Tajikistan ($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 the United States (+3.7%), while the prices for the other major destinations experienced more modest paces of growth.

Base Metal Closure Imports

Imports into the Russian Federation

In 2021, imports of base metal closures, stoppers, caps and lids into Russia expanded to X tons, increasing by 2.7% compared with the previous year's figure. The total import volume increased at an average annual rate of +2.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 with an increase of 21% against the previous year. Imports peaked in 2021 and are expected to retain growth in the near future.

In value terms, base metal closure imports rose rapidly to $X in 2021. In general, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 15%. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in the near future.

Imports by Country

Poland (X tons), Belarus (X tons) and China (X tons) were the main suppliers of base metal closure imports to Russia, together comprising 53% of total imports. These countries were followed by Italy, Turkey, Germany, the United Arab Emirates, Estonia, the Netherlands, the United States and France, which together accounted for a further 36%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United Arab Emirates (with a CAGR of +84.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X) constituted the largest supplier of base metal closures, stoppers, caps and lids to Russia, comprising 30% of total imports. The second position in the ranking was taken by Belarus ($X), with a 13% share of total imports. It was followed by China, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Poland amounted to +6.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Belarus (+49.0% per year) and China (+5.0% per year).

Import Prices by Country

The average base metal closure import price stood at $X per ton in 2021, increasing by 9.4% against the previous year. Over the period under review, the import price, however, saw a noticeable curtailment. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was the United States ($X per ton), while the price for Turkey ($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 (+21.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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