GCC: Metal Crown Cork Market 2024

Metal Crown Cork Market Size in GCC

The GCC metal crown cork market dropped to $X in 2023, which is down by X% against the previous year. The total consumption indicated resilient growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption increased by X% against 2021 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2023, consumption remained at a lower figure.

Metal Crown Cork Production in GCC

In value terms, metal crown cork production shrank to $X in 2023 estimated in export price. The total production indicated strong growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production increased by X% against 2021 indices. The pace of growth appeared the most rapid in 2013 when the production volume increased by X%. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2023, production failed to regain momentum.

Metal Crown Cork Exports

Exports in GCC

In 2023, shipments abroad of iron or steel crown corks increased by X% to X units, rising for the second consecutive year after two years of decline. Overall, exports, however, recorded a drastic downturn. The most prominent rate of growth was recorded in 2022 when exports increased by X% against the previous year. The volume of export peaked at X units in 2016; however, from 2017 to 2023, the exports stood at a somewhat lower figure.

In value terms, metal crown cork exports skyrocketed to $X in 2023. In general, exports, however, continue to indicate a mild decline. The pace of growth was the most pronounced in 2022 with an increase of X% against the previous year. The level of export peaked at $X in 2016; however, from 2017 to 2023, the exports failed to regain momentum.

Exports by Country

Saudi Arabia was the major exporter of iron or steel crown corks in GCC, with the volume of exports reaching X units, which was near X% of total exports in 2023. It was distantly followed by the United Arab Emirates (X units), comprising a X% share of total exports.

Saudi Arabia was also the fastest-growing in terms of the iron or steel crown corks exports, with a CAGR of X% from 2012 to 2023. The United Arab Emirates (X%) illustrated a downward trend over the same period. While the share of Saudi Arabia (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of the United Arab Emirates (X p.p.) displayed negative dynamics.

In value terms, Saudi Arabia ($X) remains the largest metal crown cork supplier in GCC, comprising X% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a X% share of total exports.

From 2012 to 2023, the average annual rate of growth in terms of value in Saudi Arabia amounted to X%.

Export Prices by Country

The export price in GCC stood at $X per thousand units in 2023, increasing by X% against the previous year. In general, the export price continues to indicate a moderate increase. The most prominent rate of growth was recorded in 2018 an increase of X%. Over the period under review, the export prices attained the peak figure at $X per thousand units in 2019; however, from 2020 to 2023, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per thousand units), while the United Arab Emirates stood at $X per thousand units.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Saudi Arabia (X%).

Metal Crown Cork Imports

Imports in GCC

In 2023, the amount of iron or steel crown corks imported in GCC dropped rapidly to X units, falling by X% against the previous year's figure. Overall, imports saw a perceptible slump. The growth pace was the most rapid in 2022 when imports increased by X%. Over the period under review, imports attained the maximum at X units in 2015; however, from 2016 to 2023, imports failed to regain momentum.

In value terms, metal crown cork imports contracted significantly to $X in 2023. Over the period under review, imports recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2023, imports failed to regain momentum.

Imports by Country

The United Arab Emirates dominates imports structure, recording X units, which was near X% of total imports in 2023. It was distantly followed by Oman (X units), comprising an X% share of total imports. Bahrain (X units) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to metal crown cork imports into the United Arab Emirates stood at X%. At the same time, Bahrain (X%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing importer imported in GCC, with a CAGR of X% from 2012-2023. By contrast, Oman (X%) illustrated a downward trend over the same period. The United Arab Emirates (X p.p.) and Bahrain (X p.p.) significantly strengthened its position in terms of the total imports, while Oman saw its share reduced by X% from 2012 to 2023, respectively.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported iron or steel crown corks in GCC, comprising X% of total imports. The second position in the ranking was taken by Oman ($X), with a X% share of total imports.

From 2012 to 2023, the average annual rate of growth in terms of value in the United Arab Emirates was relatively modest. In the other countries, the average annual rates were as follows: Oman (X% per year) and Bahrain (X% per year).

Import Prices by Country

In 2023, the import price in GCC amounted to $X per thousand units, reducing by X% against the previous year. In general, the import price saw a pronounced contraction. The most prominent rate of growth was recorded in 2017 an increase of X% against the previous year. Over the period under review, import prices attained the peak figure at $X per thousand units in 2019; however, from 2020 to 2023, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Bahrain ($X per thousand units), while Oman ($X per thousand units) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Bahrain (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform