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China - Interchangeable Tools For Hand Tools - Market Analysis, Forecast, Size, Trends and Insights
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Article Publishing Date: Apr 27, 2023
China's Tool Price Reaches All-Time High of $12.9/kg
China Interchangeable Tool Export Price in February 2023
In February 2023, the interchangeable tool price stood at $12,908 per ton (FOB, China), with an increase of 14% against the previous month. Over the period from February 2022 to February 2023, it increased at an average monthly rate of +1.2%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.
Prices varied noticeably by the country of destination: the country with the highest price was South Korea ($21,912 per ton), while the average price for exports to Romania ($5,419 per ton) was amongst the lowest.
From February 2022 to February 2023, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+4.4%), while the prices for the other major destinations experienced more modest paces of growth.
| COUNTRY | Feb 2022 | Mar 2022 | Apr 2022 | May 2022 | Jun 2022 | Jul 2022 | Aug 2022 | Sep 2022 | Oct 2022 | Nov 2022 | Dec 2022 | Jan 2023 | Feb 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Export Price of Interchangeable Tool in China (USD per ton) | |||||||||||||
| South Korea | 22,525 | 25,251 | 19,945 | 24,413 | 27,703 | 29,258 | 27,480 | 29,738 | 27,604 | 22,523 | 25,417 | 22,888 | 21,912 |
| Japan | 13,630 | 12,676 | 15,542 | 12,265 | 16,482 | 14,423 | 13,527 | 14,743 | 13,049 | 10,373 | 11,088 | 9,758 | 16,433 |
| Canada | 9,468 | 14,335 | 12,934 | 11,864 | 12,596 | 11,238 | 11,982 | 12,612 | 12,372 | 15,828 | 11,913 | 12,771 | 15,829 |
| Germany | 11,011 | 11,895 | 13,067 | 12,764 | 12,930 | 11,775 | 13,234 | 13,223 | 9,342 | 10,223 | 12,643 | 12,627 | 15,247 |
| Australia | 13,023 | 12,963 | 12,523 | 13,795 | 13,832 | 14,115 | 13,873 | 15,034 | 15,193 | 16,934 | 14,700 | 16,254 | 13,494 |
| Mexico | 11,425 | 12,053 | 12,787 | 11,263 | 11,471 | 11,289 | 10,398 | 12,026 | 12,280 | 13,765 | 11,815 | 10,864 | 13,153 |
| United States | 12,632 | 12,352 | 11,285 | 11,363 | 13,817 | 12,529 | 11,531 | 13,229 | 12,956 | 12,678 | 12,056 | 13,394 | 12,907 |
| Russia | 8,987 | 10,855 | 10,968 | 11,707 | 9,972 | 10,778 | 9,466 | 11,592 | 11,669 | 10,476 | 13,413 | 11,313 | 12,333 |
| Vietnam | 10,368 | 10,193 | 9,980 | 7,255 | 7,292 | 9,414 | 10,827 | 9,417 | 7,639 | 9,138 | 12,919 | 13,105 | 11,032 |
| Malaysia | 8,620 | 14,387 | 12,509 | 12,946 | 13,032 | 12,437 | 13,215 | 11,849 | 10,448 | 10,864 | 13,460 | 12,319 | 9,352 |
| India | 7,864 | 8,477 | 8,473 | 9,270 | 10,022 | 10,349 | 9,308 | 9,621 | 9,537 | 9,888 | 8,632 | 9,327 | 8,368 |
| Spain | 11,380 | 7,119 | 9,443 | 8,450 | 11,030 | 7,149 | 9,066 | 9,878 | 11,453 | 8,690 | 12,687 | 9,008 | 6,776 |
| Romania | 12,657 | 10,299 | 8,669 | 8,647 | 8,008 | 11,307 | 13,546 | 15,357 | 16,722 | 24,648 | 11,080 | 8,752 | 5,419 |
| Average | 11,142 | 11,307 | 11,354 | 11,477 | 11,793 | 11,463 | 11,295 | 11,733 | 10,992 | 11,113 | 11,260 | 11,351 | 12,908 |
China Interchangeable Tool Exports
In February 2023, the amount of interchangeable tools for hand tools exported from China fell dramatically to 20K tons, with a decrease of -44% on January 2023 figures. Overall, exports recorded a pronounced shrinkage. The pace of growth was the most pronounced in March 2022 when exports increased by 23% against the previous month.
In value terms, interchangeable tool exports reduced remarkably to $257M (IndexBox estimates) in February 2023. In general, exports continue to indicate a mild decrease. The pace of growth appeared the most rapid in March 2022 when exports increased by 25% against the previous month.
China Interchangeable Tool Exports by Country
The United States (3K tons) was the main destination for interchangeable tool exports from China, with a 15% share of total exports. Moreover, interchangeable tool exports to the United States exceeded the volume sent to the second major destination, Russia (1.5K tons), twofold. Germany (1.3K tons) ranked third in terms of total exports with a 6.7% share.
From February 2022 to February 2023, the average monthly growth rate of volume to the United States amounted to -2.8%. Exports to the other major destinations recorded the following average monthly rates of exports growth: Russia (-1.0% per month) and Germany (-6.0% per month).
In value terms, the United States ($39M), Germany ($20M) and Russia ($18M) appeared to be the largest markets for interchangeable tool exported from China worldwide, with a combined 30% share of total exports. These countries were followed by Mexico, South Korea, Japan, India, Vietnam, Romania, Canada, Australia, Malaysia and Spain, which together accounted for a further 34%.
Romania, with a CAGR of +19.9%, 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.
This report provides an in-depth analysis of the interchangeable tool market in China. 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 25734014 - Tapping tools for working metal
• Prodcom 25734016 - Threading tools for working metal
• Prodcom 25734019 - Tapping or threading tools (excluding work and tool holders for machines or hand tools, for working metal)
• Prodcom 25734023 - Drilling tools with working part of diamond or agglomerated diamond (excluding work and tool holders for machines or hand tools, for rock drilling)
• Prodcom 25734025 - Masonry drills with working part of materials other than diamond or agglomerated diamond (excluding work and tool holders for machines or hand tools, for rock drilling)
• Prodcom 25734027 - Drilling tools with working part of sintered metal carbide, for working metal excluding unmounted sintered metal carbide plates, sticks, tips and the like for tools
• Prodcom 25734031 - Drilling tools with working part of high speed steel, for working metal excluding work and tool holders for machines or hand tools - for rock drilling
• Prodcom 25734033 - Drilling tools with working part of materials other than diamond, agglomerated diamond or sintered metal carbide, f or working metal excluding with working part of high speed steel
• Prodcom 25734035 - Drilling tools (excluding work and tool holders for machines or hand tools, with working part of diamond or agglomerated diamond, for rock drilling, masonry drills, for working metal)
• Prodcom 25734037 - Boring or broaching tools with working part of diamond or agglomerated diamond (excluding work and tool holders for machines or hand tools, for earth boring)
• Prodcom 25734044 - Boring tools for working metal, with working part of materials other than diamond or agglomerated diamond
• Prodcom 25734045 - Boring or broaching tools (excluding work and tool holders for machines or hand tools, with diamond or agglomerated diamond working parts, for working metal, for earth boring)
• Prodcom 25734048 - Broaching tools for working metal, with working part of materials other than diamond or agglomerated diamond
• Prodcom 25734050 - Milling tools with working part of sintered metal carbide, for working metal excluding unmounted sintered metal carbide plates, sticks, tips and the like for tools
• Prodcom 25734061 - Shank type milling tools for working metal (excluding with working part of sintered metal carbide)
• Prodcom 25734065 -
• Prodcom 25734067 -
• Prodcom 25734069 - Milling tools (excluding for working metal)
• Prodcom 25734071 - Turning tools with working part of sintered metal carbide, for working metal excluding unmounted sintered metal carbide plates, sticks, tips and the like for tools
• Prodcom 25734074 - Turning tools for working metal, with working part of materials other than cermets
• Prodcom 25734079 - Turning tools (excluding work and tool holders for machines or hand tools, for working metal)
• Prodcom 25734081 - Other interchangeable tools of CN .82.07 with working part of diamond
• Prodcom 25734083 - Screwdriver bits with working part of materials other than diamond or agglomerated diamond (excluding work and tool holders for machines or hand tools)
• Prodcom 25734085 - Gear-cutting tools with working part of materials other than diamond or agglomerated diamond (excluding work and tool holders for machines or hand tools)
• Prodcom 25734087 - Interchangeable hand tools with working part of sintered metal carbide excluding unmounted sintered metal carbide plates, sticks, tips and the like for tools
• Prodcom 25734089 - Interchangeable tools in other materials
• Prodcom 25736013 - Rock drilling or earth boring tools with working part of cermets
• Prodcom 25736018 - Rock-drilling or earth-boring tools, interchangeable, and parts therefor, with working parts of materials other than sintered metal carbide or cermets
• Prodcom 25736023 - Dies for drawing or extruding metal, with working part of diamond or agglomerated diamond (excluding work and tool holders for machines or hand tools)
• Prodcom 25736024 - Dies for drawing or extruding metal (excluding unmounted plates, sticks, tips, rods, pellets, rings, etc. of sintered metal carbides or cermets)
• Prodcom 25736033 - Pressing, stamping or punching tools for working metal (excluding work and tool holders for machines or hand tools)
• Prodcom 25736039 - Pressing, stamping or punching tools (excluding work and tool holders for machines or hand tools, for working metal)
Country coverage:
Data coverage:
• Market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Trade (exports and imports) in China
• 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:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. 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.
1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
2.1
KEY FINDINGS
2.2
MARKET TRENDS
This Chapter is Available Only for the Professional Edition
PRO
3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
3.1
MARKET SIZE
3.2
MARKET STRUCTURE
3.3
TRADE BALANCE
3.4
PER CAPITA CONSUMPTION
3.5
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
7.1
PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
8.1
IMPORTS FROM 2012–2022
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
9.1
EXPORTS FROM 2012–2022
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
LIST OF TABLES
Table 1:
Key Findings In 2022
Table 2:
Market Volume, In Physical Terms, 2012–2022
Table 3:
Market Value, 2012–2022
Table 4:
Per Capita Consumption In 2012-2022
Table 5:
Imports, In Physical Terms, By Country, 2012–2022
Table 6:
Imports, In Value Terms, By Country, 2012–2022
Table 7:
Import Prices, By Country Of Origin, 2012–2022
Table 8:
Exports, In Physical Terms, By Country, 2012–2022
Table 9:
Exports, In Value Terms, By Country, 2012–2022
Table 10:
Export Prices, By Country Of Destination, 2012–2022
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2012–2022
Figure 2:
Market Value, 2012–2022
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2022
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2022
Figure 5:
Trade Balance, In Physical Terms, 2012-2022
Figure 6:
Trade Balance, In Value Terms, 2012-2022
Figure 7:
Per Capita Consumption, 2012-2022
Figure 8:
Market Volume Forecast to 2030
Figure 9:
Market Value Forecast to 2030
Figure 10:
Products: Market Size And Growth, By Type
Figure 11:
Products: Average Per Capita Consumption, By Type
Figure 12:
Products: Exports And Growth, By Type
Figure 13:
Products: Export Prices And Growth, By Type
Figure 14:
Production Volume And Growth
Figure 15:
Exports And Growth
Figure 16:
Export Prices And Growth
Figure 17:
Market Size And Growth
Figure 18:
Per Capita Consumption
Figure 19:
Imports And Growth
Figure 20:
Import Prices
Figure 21:
Production, In Physical Terms, 2012–2022
Figure 22:
Production, In Value Terms, 2012–2022
Figure 23:
Imports, In Physical Terms, 2012–2022
Figure 24:
Imports, In Value Terms, 2012–2022
Figure 25:
Imports, In Physical Terms, By Country, 2022
Figure 26:
Imports, In Physical Terms, By Country, 2012–2022
Figure 27:
Imports, In Value Terms, By Country, 2012–2022
Figure 28:
Import Prices, By Country Of Origin, 2012–2022
Figure 29:
Exports, In Physical Terms, 2012–2022
Figure 30:
Exports, In Value Terms, 2012–2022
Figure 31:
Exports, In Physical Terms, By Country, 2022
Figure 32:
Exports, In Physical Terms, By Country, 2012–2022
Figure 33:
Exports, In Value Terms, By Country, 2012–2022
Figure 34:
Export Prices, By Country Of Destination, 2012–2022
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