Saudi Arabia: Base Metal Closure Market 2024

Base Metal Closure Market Size in Saudi Arabia

The Saudi base metal closure market expanded remarkably to $X in 2021, picking up by 14% against the previous year. In general, consumption showed a buoyant increase. As a result, consumption reached the peak level of $X. From 2020 to 2021, the growth of the market failed to regain momentum.

Base Metal Closure Production in Saudi Arabia

In value terms, base metal closure production surged to $X in 2021 estimated in export price. Overall, the total production indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +4.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -15.4% against 2019 indices. The pace of growth was the most pronounced in 2015 when the production volume increased by 40%. Base metal closure production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Base Metal Closure Exports

Exports from Saudi Arabia

In 2021, approx. X tons of base metal closures, stoppers, caps and lids were exported from Saudi Arabia; jumping by 63% compared with the year before. Over the period under review, exports recorded a relatively flat trend pattern. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, base metal closure exports surged to $X in 2021. Overall, exports recorded a relatively flat trend pattern. The exports peaked at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

Exports by Country

Egypt (X tons) was the main destination for base metal closure exports from Saudi Arabia, accounting for a 25% share of total exports. Moreover, base metal closure exports to Egypt exceeded the volume sent to the second major destination, Jordan (X tons), twofold. Tunisia (X tons) ranked third in terms of total exports with a 7.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Egypt stood at +3.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Jordan (+42.5% per year) and Tunisia (+11.8% per year).

In value terms, Egypt ($X) remains the key foreign market for base metal closures, stoppers, caps and lids exports from Saudi Arabia, comprising 26% of total exports. The second position in the ranking was held by Jordan ($X), with an 11% share of total exports. It was followed by Tunisia, with a 6.8% share.

From 2012 to 2021, the average annual growth rate of value to Egypt amounted to +2.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Jordan (+49.4% per year) and Tunisia (+9.2% per year).

Export Prices by Country

The average base metal closure export price stood at $X per ton in 2021, picking up by 7.1% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the average export price increased by 9.3%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Brazil ($X per ton), while the average price for exports to the United Arab Emirates ($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 Brazil (+45.0%), while the prices for the other major destinations experienced more modest paces of growth.

Base Metal Closure Imports

Imports into Saudi Arabia

In 2021, overseas purchases of base metal closures, stoppers, caps and lids increased by 23% to X tons, rising for the fourth year in a row after two years of decline. Over the period under review, imports posted a prominent expansion. The pace of growth appeared the most rapid in 2014 when imports increased by 49% against the previous year. Imports peaked in 2021 and are likely to continue growth in years to come.

In value terms, base metal closure imports soared to $X in 2021. Overall, imports posted prominent growth. The most prominent rate of growth was recorded in 2014 when imports increased by 66% against the previous year. Imports peaked in 2021 and are expected to retain growth in years to come.

Imports by Country

The United Arab Emirates (X tons), China (X tons) and Italy (X tons) were the main suppliers of base metal closure imports to Saudi Arabia, together accounting for 80% of total imports. The Netherlands, India, Poland, France and South Korea lagged somewhat behind, together accounting for a further 13%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of +55.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), the United Arab Emirates ($X) and Italy ($X) appeared to be the largest base metal closure suppliers to Saudi Arabia, with a combined 74% share of total imports. These countries were followed by the Netherlands, Poland, France, India and South Korea, which together accounted for a further 17%.

The Netherlands, with a CAGR of +40.4%, saw 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

In 2021, the average base metal closure import price amounted to $X per ton, remaining relatively unchanged against the previous year. Over the period under review, the import price, however, saw a pronounced downturn. The growth pace was the most rapid in 2014 an increase of 11% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Poland ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+8.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :