Turkey: Base Metal Closure Market 2024

Base Metal Closure Market Size in Turkey

The Turkish base metal closure market fell significantly to $X in 2021, which is down by -33.9% against the previous year. Overall, the total consumption indicated a noticeable increase from 2012 to 2021: its value increased at an average annual rate of +2.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -34.4% against 2018 indices. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

Base Metal Closure Production in Turkey

In value terms, base metal closure production contracted to $X in 2021 estimated in export price. Over the period under review, production, however, saw buoyant growth. The pace of growth appeared the most rapid in 2018 with an increase of 31% against the previous year. Over the period under review, production reached the maximum level at $X in 2020, and then dropped slightly in the following year.

Base Metal Closure Exports

Exports from Turkey

In 2021, the amount of base metal closures, stoppers, caps and lids exported from Turkey soared to X tons, rising by 74% compared with the year before. In general, exports enjoyed a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, base metal closure exports skyrocketed to $X in 2021. Over the period under review, exports recorded a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Iraq (X tons), the Netherlands (X tons) and Russia (X tons) were the main destinations of base metal closure exports from Turkey, together comprising 36% of total exports. Greece, Romania, Bulgaria, Israel, the United States, Algeria, Jordan, Egypt, Lebanon and Germany lagged somewhat behind, together comprising a further 44%.

From 2012 to 2021, the biggest increases were recorded for the United States (with a CAGR of +102.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for base metal closure exported from Turkey were Iraq ($X), the Netherlands ($X) and Russia ($X), with a combined 33% share of total exports. Greece, Romania, Bulgaria, Israel, the United States, Algeria, Egypt, Jordan, Germany and Lebanon lagged somewhat behind, together accounting for a further 43%.

The United States, with a CAGR of +59.7%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination 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, with an increase of 16% against the previous year. Overall, the export price, however, continues to indicate a mild decline. Over the period under review, the average export prices attained the maximum at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Algeria ($X per ton), while the average price for exports to Greece ($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 Algeria (+3.3%), while the prices for the other major destinations experienced more modest paces of growth.

Base Metal Closure Imports

Imports into Turkey

Base metal closure imports into Turkey skyrocketed to X tons in 2021, growing by 18% against 2020. Over the period under review, total imports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +6.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +38.3% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, base metal closure imports surged to $X in 2021. The total import value increased at an average annual rate of +5.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Italy (X tons), Poland (X tons) and China (X tons) were the main suppliers of base metal closure imports to Turkey, with a combined 49% share of total imports. Spain, Germany, the UK, Ireland, Russia, Greece, Bulgaria, France, Saudi Arabia and the United States lagged somewhat behind, together comprising a further 46%.

From 2012 to 2021, the biggest increases were recorded for Russia (with a CAGR of +252.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest base metal closure suppliers to Turkey were Poland ($X), Italy ($X) and Germany ($X), with a combined 47% share of total imports. Spain, the UK, China, Ireland, Greece, Russia, Saudi Arabia, Bulgaria, France and the United States lagged somewhat behind, together accounting for a further 46%.

Russia, with a CAGR of +227.8%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average base metal closure import price stood at $X per ton in 2021, picking up by 7.8% against the previous year. Overall, the import price, however, showed a slight contraction. The pace of growth appeared the most rapid in 2018 when the average import price increased by 14%. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was the United States ($X per ton), while the price for France ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Greece (+5.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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