Spain: Metal Crown Cork Market 2024

Metal Crown Cork Market Size in Spain

After four years of decline, the Spanish metal crown cork market increased by 64% to $X in 2022. Over the period under review, consumption, however, saw a noticeable descent. Metal crown cork consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Metal Crown Cork Production in Spain

In value terms, metal crown cork production contracted to $X in 2022 estimated in export price. In general, production, however, continues to indicate a perceptible decrease. The most prominent rate of growth was recorded in 2021 with an increase of 15% against the previous year. Metal crown cork production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Metal Crown Cork Exports

Exports from Spain

In 2022, shipments abroad of iron or steel crown corks increased by 18% to X units, rising for the second year in a row after two years of decline. Overall, exports, however, continue to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2021 when exports increased by 41%. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, metal crown cork exports surged to $X in 2022. Over the period under review, exports, however, recorded a abrupt shrinkage. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Portugal (X units) was the main destination for metal crown cork exports from Spain, with a 25% share of total exports. Moreover, metal crown cork exports to Portugal exceeded the volume sent to the second major destination, Belgium (X units), threefold. Burkina Faso (X units) ranked third in terms of total exports with a 7.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Portugal amounted to -10.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (+18.5% per year) and Burkina Faso (+12.0% per year).

In value terms, Portugal ($X), France ($X) and Belgium ($X) were the largest markets for metal crown cork exported from Spain worldwide, together comprising 46% of total exports. Burkina Faso, Democratic Republic of the Congo, Cameroon, Benin, Cote d'Ivoire, Togo, Congo, Chad, Cabo Verde and Angola lagged somewhat behind, together comprising a further 39%.

Among the main countries of destination, Benin, with a CAGR of +27.4%, 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 2022, the average metal crown cork export price amounted to $X per thousand units, surging by 9.7% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.3%. The pace of growth was the most pronounced in 2020 an increase of 11%. As a result, the export price attained the peak level of $X per thousand units. From 2021 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was France ($X per thousand units), while the average price for exports to Angola ($X per thousand units) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Cabo Verde (+2.3%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Crown Cork Imports

Imports into Spain

In 2022, metal crown cork imports into Spain soared to X units, rising by 36% compared with the previous year's figure. Over the period under review, imports saw a buoyant increase. The most prominent rate of growth was recorded in 2019 when imports increased by 117% against the previous year. As a result, imports reached the peak of X units. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, metal crown cork imports surged to $X in 2022. In general, imports posted a resilient increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Italy (X units), France (X units) and Poland (X units) were the main suppliers of metal crown cork imports to Spain, with a combined 90% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by France (with a CAGR of +43.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest metal crown cork suppliers to Spain were Italy ($X), France ($X) and Germany ($X), together comprising 91% of total imports.

France, with a CAGR of +36.4%, saw the highest growth rate of 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 2022, the average metal crown cork import price amounted to $X per thousand units, increasing by 20% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 an increase of 38%. The import price peaked at $X per thousand units in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 Germany ($X per thousand units), while the price for Greece ($X per thousand units) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+8.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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