Singapore: Base Metal Closure Market 2025

Base Metal Closure Market Size in Singapore

The Singaporean base metal closure market was finally on the rise to reach $X in 2021, after two years of decline. Over the period under review, the total consumption indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +5.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Base Metal Closure Production in Singapore

In value terms, base metal closure production reached $X in 2021 estimated in export price. Overall, production, however, continues to indicate a slight reduction. The pace of growth appeared the most rapid in 2017 with an increase of 6.7% against the previous year. Over the period under review, production reached the peak level at $X in 2015; however, from 2016 to 2021, production remained at a lower figure.

Base Metal Closure Exports

Exports from Singapore

In 2021, the amount of base metal closures, stoppers, caps and lids exported from Singapore declined modestly to X tons, approximately equating the previous year's figure. Over the period under review, exports recorded a noticeable reduction. The pace of growth appeared the most rapid in 2017 when exports increased by 11% against the previous year. The exports peaked at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, base metal closure exports rose rapidly to $X in 2021. Overall, exports saw a perceptible shrinkage. The pace of growth appeared the most rapid in 2014 when exports increased by 14% against the previous year. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Malaysia (X tons), Canada (X tons) and Indonesia (X tons) were the main destinations of base metal closure exports from Singapore, with a combined 45% share of total exports. Australia, South Africa, Ghana, Nigeria, Thailand, Malta, Yemen and Vietnam lagged somewhat behind, together accounting for a further 45%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Australia (with a CAGR of +49.7%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for base metal closure exported from Singapore were Malaysia ($X), Canada ($X) and Indonesia ($X), with a combined 49% share of total exports.

Among the main countries of destination, Canada, with a CAGR of +47.1%, saw 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, growing by 13% against the previous year. Over the period under review, the export price, however, saw a slight reduction. The export price peaked at $X per ton in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Thailand ($X per ton), while the average price for exports to Yemen ($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 South Africa (+3.5%), while the prices for the other major destinations experienced more modest paces of growth.

Base Metal Closure Imports

Imports into Singapore

In 2021, base metal closure imports into Singapore rose notably to X tons, picking up by 13% on the year before. Overall, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 19%. Over the period under review, imports reached the peak figure at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, base metal closure imports surged to $X in 2021. Over the period under review, imports continue to indicate a relatively flat trend pattern. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

China (X tons), Malaysia (X tons) and the United States (X tons) were the main suppliers of base metal closure imports to Singapore, with a combined 69% share of total imports. These countries were followed by India, Indonesia, the Netherlands, Taiwan (Chinese) and the UK, which together accounted for a further 23%.

From 2012 to 2021, the biggest increases were recorded for Indonesia (with a CAGR of +31.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), China ($X) and Malaysia ($X) appeared to be the largest base metal closure suppliers to Singapore, with a combined 64% share of total imports. These countries were followed by India, the Netherlands, Indonesia, Taiwan (Chinese) and the UK, which together accounted for a further 20%.

In terms of the main suppliers, Indonesia, with a CAGR of +30.8%, saw the highest rates of growth with regard to the value of imports, 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, increasing by 6.1% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the average import price increased by 11%. The import price peaked at $X per ton in 2017; however, from 2018 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the UK ($X per ton), while the price for Indonesia ($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 UK (+32.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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