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World - Iron Or Steel Crown Corks - Market Analysis, Forecast, Size, Trends And Insights
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The article discusses the projected growth of the global market for iron or steel crown corks, with an expected increase in consumption volume and market value from 2022 to 2030. It highlights the leading countries in terms of consumption, production, import, and export of metal crown corks. The article also provides insights into the average prices and trends observed in the market over the past decade.
Market Forecast
Driven by increasing demand for iron or steel crown corks worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +2.3% for the period from 2022 to 2030, which is projected to bring the market volume to 887B units by the end of 2030.
In value terms, the market is forecast to increase with an anticipated CAGR of +4.7% for the period from 2022 to 2030, which is projected to bring the market value to $9.7B (in nominal prices) by the end of 2030.
Consumption
World Consumption of Iron Or Steel Crown Corks
In 2022, consumption of iron or steel crown corks increased by 1.3% to 740B units, rising for the second consecutive year after two years of decline. The total consumption volume increased at an average annual rate of +1.9% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. Over the period under review, global consumption attained the peak volume at 761B units in 2014; however, from 2015 to 2022, consumption failed to regain momentum.
The global metal crown cork market revenue stood at $6.7B in 2022, remaining constant against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +1.8% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. Over the period under review, the global market attained the maximum level at $7.2B in 2014; however, from 2015 to 2022, consumption remained at a lower figure.
Consumption By Country
The United States (258B units) constituted the country with the largest volume of metal crown cork consumption, comprising approx. 35% of total volume. Moreover, metal crown cork consumption in the United States exceeded the figures recorded by the second-largest consumer, China (116B units), twofold. The third position in this ranking was held by India (46B units), with a 6.2% share.
In the United States, metal crown cork consumption expanded at an average annual rate of +2.9% over the period from 2012-2022. In the other countries, the average annual rates were as follows: China (+2.1% per year) and India (+2.2% per year).
In value terms, the United States ($1.7B), China ($1.5B) and Japan ($599M) appeared to be the countries with the highest levels of market value in 2022, together comprising 57% of the global market. The UK, India, Russia, Indonesia, Germany, Brazil, Italy and Mexico lagged somewhat behind, together accounting for a further 18%.
Among the main consuming countries, Russia, with a CAGR of +11.6%, recorded the highest rates of growth with regard to market size over the period under review, while market for the other global leaders experienced more modest paces of growth.
In 2022, the highest levels of metal crown cork per capita consumption was registered in the United States (769 units per person), followed by Italy (240 units per person), the UK (227 units per person) and Russia (197 units per person), while the world average per capita consumption of metal crown cork was estimated at 93 units per person.
From 2012 to 2022, the average annual growth rate of the metal crown cork per capita consumption in the United States stood at +2.2%. In the other countries, the average annual rates were as follows: Italy (+2.4% per year) and the UK (+2.3% per year).
Production
World Production of Iron Or Steel Crown Corks
In 2022, production of iron or steel crown corks increased by 1.2% to 737B units, rising for the second year in a row after two years of decline. The total output volume increased at an average annual rate of +1.7% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2014 with an increase of 9.9%. As a result, production attained the peak volume of 752B units. From 2015 to 2022, global production growth failed to regain momentum.
In value terms, metal crown cork production dropped modestly to $6.6B in 2022 estimated in export price. The total output value increased at an average annual rate of +1.5% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2013 with an increase of 14% against the previous year. Global production peaked at $7.2B in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.
Production By Country
The United States (256B units) remains the largest metal crown cork producing country worldwide, accounting for 35% of total volume. Moreover, metal crown cork production in the United States exceeded the figures recorded by the second-largest producer, China (117B units), twofold. India (47B units) ranked third in terms of total production with a 6.4% share.
In the United States, metal crown cork production expanded at an average annual rate of +3.2% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: China (+2.0% per year) and India (+1.9% per year).
Imports
World Imports of Iron Or Steel Crown Corks
In 2022, supplies from abroad of iron or steel crown corks increased by 4.5% to 67B units, rising for the second consecutive year after three years of decline. Overall, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when imports increased by 21% against the previous year. Global imports peaked at 80B units in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.
In value terms, metal crown cork imports surged to $580M in 2022. The total import value increased at an average annual rate of +2.4% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.
Imports By Country
In 2022, Belgium (8.7B units), distantly followed by Spain (3.7B units), the Netherlands (3.5B units) and the UK (3.3B units) represented the major importers of iron or steel crown corks, together mixing up 29% of total imports. The following importers - France (2.9B units), Germany (2B units), Ethiopia (1.9B units), the United States (1.5B units), Chile (1.5B units), Denmark (1.4B units), Austria (1.4B units), Portugal (1.4B units) and Cameroon (1.4B units) - together made up 23% of total imports.
Belgium was also the fastest-growing in terms of the iron or steel crown corks imports, with a CAGR of +11.2% from 2012 to 2022. At the same time, France (+10.6%), the UK (+10.0%), Chile (+7.8%), Ethiopia (+7.5%), Spain (+6.7%) and Cameroon (+2.1%) displayed positive paces of growth. Austria and Portugal experienced a relatively flat trend pattern. By contrast, Denmark (-1.3%), the Netherlands (-1.5%), Germany (-4.1%) and the United States (-13.4%) illustrated a downward trend over the same period. While the share of Belgium (+8.5 p.p.), the UK (+3 p.p.), France (+2.7 p.p.) and Spain (+2.6 p.p.) increased significantly in terms of the global imports from 2012-2022, the share of Germany (-1.7 p.p.) and the United States (-7.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, the United States ($103M) constitutes the largest market for imported iron or steel crown corks worldwide, comprising 18% of global imports. The second position in the ranking was taken by Spain ($30M), with a 5.2% share of global imports. It was followed by the UK, with a 4.9% share.
In the United States, metal crown cork imports increased at an average annual rate of +7.8% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Spain (+8.5% per year) and the UK (+13.5% per year).
Import Prices By Country
The average metal crown cork import price stood at $8.7 per thousand units in 2022, surging by 23% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.2%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.
Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United States ($70 per thousand units), while Belgium ($3 per thousand units) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+24.5%), while the other global leaders experienced more modest paces of growth.
Exports
World Exports of Iron Or Steel Crown Corks
In 2022, overseas shipments of iron or steel crown corks were finally on the rise to reach 64B units for the first time since 2016, thus ending a five-year declining trend. In general, exports, however, saw a mild descent. The most prominent rate of growth was recorded in 2015 when exports increased by 7.9%. Over the period under review, the global exports reached the maximum at 76B units in 2016; however, from 2017 to 2022, the exports remained at a lower figure.
In value terms, metal crown cork exports skyrocketed to $509M in 2022. Over the period under review, exports, however, showed a relatively flat trend pattern. Over the period under review, the global exports hit record highs at $530M in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.
Exports By Country
In 2022, Italy (22B units) represented the main exporter of iron or steel crown corks, achieving 34% of total exports. Mexico (10B units) took a 16% share (based on physical terms) of total exports, which put it in second place, followed by Germany (13%), France (5.3%) and Kenya (4.7%). The following exporters - South Africa (1.6B units), India (1.4B units), Spain (1.4B units), Colombia (1.2B units) and Egypt (1.2B units) - each recorded a 10% share of total exports.
Italy experienced a relatively flat trend pattern with regard to volume of exports of iron or steel crown corks. At the same time, South Africa (+8.9%), Egypt (+6.0%) and Kenya (+4.0%) displayed positive paces of growth. Moreover, South Africa emerged as the fastest-growing exporter exported in the world, with a CAGR of +8.9% from 2012-2022. Germany and Colombia experienced a relatively flat trend pattern. By contrast, France (-2.0%), Mexico (-4.8%), India (-5.3%) and Spain (-7.7%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Italy, Germany, Colombia, Kenya and South Africa increased by +6, +2.4, +1.9, +1.9 and +1.5 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, Italy ($166M) remains the largest metal crown cork supplier worldwide, comprising 33% of global exports. The second position in the ranking was held by Mexico ($82M), with a 16% share of global exports. It was followed by Germany, with an 11% share.
From 2012 to 2022, the average annual growth rate of value in Italy amounted to +2.9%. In the other countries, the average annual rates were as follows: Mexico (-2.1% per year) and Germany (+2.4% per year).
Export Prices By Country
In 2022, the average metal crown cork export price amounted to $7.9 per thousand units, jumping by 28% against the previous year. Over the last decade, it increased at an average annual rate of +1.1%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.
Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Kenya ($8.7 per thousand units) and France ($8.3 per thousand units), while India ($6.3 per thousand units) and Germany ($6.9 per thousand units) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+3.7%), while the other global leaders experienced more modest paces of growth.
This report provides an in-depth analysis of the global metal crown cork market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 25921330 - Iron or steel crown corks
Country coverage:
Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:
- USA
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
+ the largest producing countries
Data coverage:
- Global market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Global production, split by region and country
- Global trade (exports and imports)
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- CONSUMPTION BY COUNTRY
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. GLOBAL PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
- PRODUCTION BY COUNTRY
8. GLOBAL IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. GLOBAL EXPORTS
The Largest Exporters on The Market and How They Succeed
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
11. COUNTRY PROFILES
The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO- United States
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
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LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption, By Country, 2018–2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Destination, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Origin, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Consumption, By Country, 2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Production, By Country, 2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, 2012–2023
This report provides an in-depth analysis of the global metal crown cork market.
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