Thailand: Base Metal Closure Market 2024

Base Metal Closure Market Size in Thailand

The Thai base metal closure market soared to $X in 2021, surging by 37% against the previous year. Overall, the total consumption indicated a tangible increase from 2012 to 2021: its value increased at an average annual rate of +2.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -8.4% against 2019 indices. Base metal closure consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Base Metal Closure Production in Thailand

In value terms, base metal closure production skyrocketed to $X in 2021 estimated in export price. Over the period under review, the total production indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +5.1% 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 -17.9% against 2018 indices. The pace of growth was the most pronounced in 2018 with an increase of 35% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2021, production growth remained at a somewhat lower figure.

Base Metal Closure Exports

Exports from Thailand

In 2021, the amount of base metal closures, stoppers, caps and lids exported from Thailand contracted to X tons, falling by -6.6% compared with the previous year's figure. Overall, total exports indicated a strong increase from 2012 to 2021: its volume increased at an average annual rate of +8.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +38.2% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 48% against the previous year. As a result, the exports attained the peak of X tons, and then fell in the following year.

In value terms, base metal closure exports rose slightly to $X in 2021. Over the period under review, total exports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +8.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +3.5% against 2018 indices. The most prominent rate of growth was recorded in 2013 when exports increased by 36% against the previous year. The exports peaked in 2021 and are likely to continue growth in years to come.

Exports by Country

Indonesia (X tons), Vietnam (X tons) and the Philippines (X tons) were the main destinations of base metal closure exports from Thailand, together comprising 58% of total exports. Mauritius, Myanmar, the United States, Malaysia, Papua New Guinea, Solomon Islands, Nigeria and China lagged somewhat behind, together comprising a further 34%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of +54.5%), while the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Vietnam ($X) and the Philippines ($X) constituted the largest markets for base metal closure exported from Thailand worldwide, with a combined 51% share of total exports. The United States, Myanmar, Mauritius, Malaysia, Papua New Guinea, Solomon Islands, China and Nigeria lagged somewhat behind, together accounting for a further 30%.

In terms of the main countries of destination, the United States, with a CAGR of +39.5%, recorded the highest growth rate of 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

The average base metal closure export price stood at $X per ton in 2021, rising by 11% against the previous year. In general, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2019 an increase of 16%. As a result, the export price reached the peak level of $X per ton. From 2020 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was the United States ($X per ton), while the average price for exports to Nigeria ($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 China (+3.7%), while the prices for the other major destinations experienced more modest paces of growth.

Base Metal Closure Imports

Imports into Thailand

In 2021, purchases abroad of base metal closures, stoppers, caps and lids increased by 24% to X tons, rising for the fifth consecutive year after four years of decline. Overall, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 89% 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 soared to $X in 2021. Over the period under review, imports, however, saw a perceptible contraction. The pace of growth was the most pronounced in 2020 with an increase of 49%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of base metal closure to Thailand, with a 75% share of total imports. Moreover, base metal closure imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), ninefold. Malaysia (X tons) ranked third in terms of total imports with a 4.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+37.6% per year) and Malaysia (+22.1% per year).

In value terms, China ($X) constituted the largest supplier of base metal closures, stoppers, caps and lids to Thailand, comprising 59% of total imports. The second position in the ranking was taken by Vietnam ($X), with an 11% share of total imports. It was followed by Malaysia, with a 4.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled -5.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+37.5% per year) and Malaysia (+22.0% per year).

Import Prices by Country

The average base metal closure import price stood at $X per ton in 2021, rising by 7.1% against the previous year. In general, the import price, however, showed a noticeable setback. The most prominent rate of growth was recorded in 2019 an increase of 17% against the previous year. 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 Taiwan (Chinese) ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Myanmar (+196.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :