Nail And Bolt Market

Driven by increasing demand for nails, tacks, staples, screws, and bolts worldwide, the market is forecasted to grow over the next eight years. Consumption trends show fluctuations with peaks and declines in consumption volumes and values. China, the United States, and Canada are the top consuming countries while China dominates in production. Export and import trends also fluctuate, with significant growth in certain years. Screws, bolts, nuts, coach screws, and similar articles are the main types exported and imported. Prices vary by product and country, with different rates of growth observed over the years.

Market Forecast

Driven by increasing demand for nails, tacks, staples, screws and bolts worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +1.8% for the period from 2022 to 2030, which is projected to bring the market volume to 26M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.6% for the period from 2022 to 2030, which is projected to bring the market value to $99.2B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Nails, Tacks, Staples, Screws And Bolts

Global nail and bolt consumption reduced to 23M tons in 2022, shrinking by -8.4% against the year before. In general, consumption, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the consumption volume increased by 7.7% against the previous year. As a result, consumption attained the peak volume of 25M tons, and then fell in the following year.

The global nail and bolt market value declined to $74.6B in 2022, shrinking by -5.3% 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). Overall, consumption recorded a relatively flat trend pattern. Global consumption peaked at $78.8B in 2021, and then reduced in the following year.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (6.9M tons), the United States (4.2M tons) and Canada (1.6M tons), together accounting for 55% of global consumption. Brazil, Japan, India, Russia, South Korea, Germany, the UK and Thailand lagged somewhat behind, together accounting for a further 24%.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by India (with a CAGR of +5.7%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, China ($13.9B), the United States ($12.9B) and Japan ($8.6B) constituted the countries with the highest levels of market value in 2022, together accounting for 47% of the global market. Thailand, India, Germany, Canada, South Korea, the UK, Russia and Brazil lagged somewhat behind, together comprising a further 22%.

Among the main consuming countries, India, with a CAGR of +5.5%, recorded the highest growth rate of 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 nail and bolt per capita consumption was registered in Canada (42 kg per person), followed by the United States (12 kg per person), South Korea (9.5 kg per person) and Japan (8 kg per person), while the world average per capita consumption of nail and bolt was estimated at 2.9 kg per person.

In Canada, nail and bolt per capita consumption contracted by an average annual rate of -1.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United States (+3.6% per year) and South Korea (+1.5% per year).

Production

World Production of Nails, Tacks, Staples, Screws And Bolts

In 2022, the amount of nails, tacks, staples, screws and bolts produced worldwide fell to 22M tons, reducing by -7.6% against the year before. The total output volume increased at an average annual rate of +1.3% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 when the production volume increased by 17%. Global production peaked at 23M tons in 2021, and then shrank in the following year.

In value terms, nail and bolt production dropped to $65.7B in 2022 estimated in export price. Over the period under review, production, however, showed mild growth. The growth pace was the most rapid in 2021 with an increase of 12% against the previous year. As a result, production attained the peak level of $74.5B, and then fell in the following year.

Production By Country

China (12M tons) constituted the country with the largest volume of nail and bolt production, comprising approx. 54% of total volume. Moreover, nail and bolt production in China exceeded the figures recorded by the second-largest producer, the United States (1.9M tons), sixfold. The third position in this ranking was held by Taiwan (Chinese) (1.6M tons), with a 7.6% share.

From 2012 to 2022, the average annual growth rate of volume in China amounted to +2.3%. In the other countries, the average annual rates were as follows: the United States (+3.5% per year) and Taiwan (Chinese) (+2.1% per year).

Imports

World Imports of Nails, Tacks, Staples, Screws And Bolts

Global nail and bolt imports dropped modestly to 15M tons in 2022, shrinking by -2.5% on the previous year. The total import volume increased at an average annual rate of +2.1% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 19% against the previous year. As a result, imports attained the peak of 15M tons, and then declined in the following year.

In value terms, nail and bolt imports expanded sharply to $59.4B in 2022. The total import value increased at an average annual rate of +3.7% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 26% against the previous year. Over the period under review, global imports reached the peak figure in 2022 and are likely to see steady growth in years to come.

Imports By Country

In 2022, the United States (2.9M tons), distantly followed by Canada (1.7M tons) and Germany (1.2M tons) were the key importers of nails, tacks, staples, screws and bolts, together comprising 40% of total imports. The Netherlands (551K tons), Italy (454K tons), France (405K tons), Spain (398K tons), the UK (368K tons), Poland (365K tons), Japan (329K tons), Russia (326K tons), China (276K tons) and Belgium (264K tons) took a little share of total imports.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +9.4%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($9.6B), Germany ($5.5B) and China ($3.1B) were the countries with the highest levels of imports in 2022, with a combined 31% share of global imports. Canada, France, the UK, the Netherlands, Italy, Poland, Japan, Spain, Belgium and Russia lagged somewhat behind, together comprising a further 25%.

Poland, with a CAGR of +7.4%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Imports By Type

In 2022, screws, bolts, nuts, coach screws, screw hooks, rivets, cotters, cotter-pins, washers (including spring washers) and similar articles, of iron or steel (12M tons) was the main type of nails, tacks, staples, screws and bolts, achieving 84% of total imports. It was distantly followed by nails, tacks, drawing pins, corrugated nails, staples (not those of heading no. 8305) and the like, of iron or steel, with heads of other material or not, but excluding articles with heads of copper (2.1M tons), generating a 14% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to screws, bolts, nuts, coach screws, screw hooks, rivets, cotters, cotter-pins, washers (including spring washers) and similar articles, of iron or steel imports of stood at +2.0%. At the same time, nails, tacks, drawing pins, corrugated nails, staples (not those of heading no. 8305) and the like, of iron or steel, with heads of other material or not, but excluding articles with heads of copper (+2.4%) displayed positive paces of growth. Moreover, nails, tacks, drawing pins, corrugated nails, staples (not those of heading no. 8305) and the like, of iron or steel, with heads of other material or not, but excluding articles with heads of copper emerged as the fastest-growing type imported in the world, with a CAGR of +2.4% from 2012-2022. The shares of the largest types remained relatively stable throughout the analyzed period.

In value terms, screws, bolts, nuts, coach screws, screw hooks, rivets, cotters, cotter-pins, washers (including spring washers) and similar articles, of iron or steel ($52.6B) constitutes the largest type of nails, tacks, staples, screws and bolts imported worldwide, comprising 89% of global imports. The second position in the ranking was held by nails, tacks, drawing pins, corrugated nails, staples (not those of heading no. 8305) and the like, of iron or steel, with heads of other material or not, but excluding articles with heads of copper ($4B), with a 6.8% share of global imports. It was followed by nails, tacks, drawing pins, staples (not those of heading no. 8305) and the like, of copper or iron or steel with heads of copper; screws bolts, nuts, screws hooks, rivets, cotters, washers of copper, with a 2.7% share.

From 2012 to 2022, the average annual growth rate of the value of screws, bolts, nuts, coach screws, screw hooks, rivets, cotters, cotter-pins, washers (including spring washers) and similar articles, of iron or steel imports totaled +3.7%. With regard to the other imported products, the following average annual rates of growth were recorded: nails, tacks, drawing pins, corrugated nails, staples (not those of heading no. 8305) and the like, of iron or steel, with heads of other material or not, but excluding articles with heads of copper (+4.4% per year) and nails, tacks, drawing pins, staples (not those of heading no. 8305) and the like, of copper or iron or steel with heads of copper; screws bolts, nuts, screws hooks, rivets, cotters, washers of copper (+4.7% per year).

Import Prices By Type

The average nail and bolt import price stood at $4,053 per ton in 2022, picking up by 13% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.6%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major imported products. In 2022, the product with the highest price was nails, tacks, drawing pins, staples (not those of heading no. 8305) and the like, of copper or iron or steel with heads of copper; screws bolts, nuts, screws hooks, rivets, cotters, washers of copper ($12,116 per ton), while the price for nails, tacks, drawing pins, corrugated nails, staples (not those of heading no. 8305) and the like, of iron or steel, with heads of other material or not, but excluding articles with heads of copper ($1,904 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by aluminium; nails, tacks, staples (other than those of heading no. 8305) screws, bolts, nuts, screw hooks, rivets, cotters, cotter-pins, washers and similar articles (+2.3%), while the other products experienced more modest paces of growth.

Import Prices By Country

The average nail and bolt import price stood at $4,053 per ton in 2022, growing by 13% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.6%. 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 China ($11,287 per ton), while Canada ($1,283 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+3.3%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Nails, Tacks, Staples, Screws And Bolts

In 2022, the amount of nails, tacks, staples, screws and bolts exported worldwide dropped slightly to 13M tons, stabilizing at the previous year. The total export volume increased at an average annual rate of +3.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2017 when exports increased by 38%. Over the period under review, the global exports hit record highs at 13M tons in 2021, and then declined slightly in the following year.

In value terms, nail and bolt exports rose notably to $58B in 2022. The total export value increased at an average annual rate of +4.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by 25% against the previous year. Over the period under review, the global exports hit record highs in 2022 and are expected to retain growth in the near future.

Exports By Country

China was the main exporting country with an export of around 5M tons, which finished at 37% of total exports. It was distantly followed by Taiwan (Chinese) (1.7M tons), Germany (0.9M tons) and the United States (0.6M tons), together generating a 24% share of total exports. Italy (505K tons), India (375K tons), the Netherlands (367K tons), Japan (324K tons), Turkey (291K tons), South Korea (263K tons), Vietnam (263K tons), Thailand (228K tons) and Poland (211K tons) held a little share of total exports.

From 2012 to 2022, average annual rates of growth with regard to nail and bolt exports from China stood at +3.6%. At the same time, Turkey (+12.2%), the Netherlands (+8.2%), Vietnam (+7.3%), Poland (+5.4%), India (+4.4%), Thailand (+4.1%), South Korea (+3.1%), Italy (+2.4%), Germany (+2.3%), Taiwan (Chinese) (+1.9%) and the United States (+1.7%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in the world, with a CAGR of +12.2% from 2012-2022. Japan experienced a relatively flat trend pattern. China (+2 p.p.) significantly strengthened its position in terms of the global exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest nail and bolt supplying countries worldwide were China ($13.6B), Germany ($7.8B) and Taiwan (Chinese) ($6.4B), together comprising 48% of global exports. The United States, Japan, Italy, the Netherlands, South Korea, India, Turkey, Poland, Thailand and Vietnam lagged somewhat behind, together comprising a further 29%.

Among the main exporting countries, Turkey, with a CAGR of +12.6%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Exports By Type

Screws, bolts, nuts, coach screws, screw hooks, rivets, cotters, cotter-pins, washers (including spring washers) and similar articles, of iron or steel was the main exported product with an export of about 11M tons, which resulted at 83% of total exports. It was distantly followed by nails, tacks, drawing pins, corrugated nails, staples (not those of heading no. 8305) and the like, of iron or steel, with heads of other material or not, but excluding articles with heads of copper (2.1M tons), creating a 16% share of total exports.

Screws, bolts, nuts, coach screws, screw hooks, rivets, cotters, cotter-pins, washers (including spring washers) and similar articles, of iron or steel was also the fastest-growing in terms of exports, with a CAGR of +3.4% from 2012 to 2022. At the same time, nails, tacks, drawing pins, corrugated nails, staples (not those of heading no. 8305) and the like, of iron or steel, with heads of other material or not, but excluding articles with heads of copper (+1.6%) displayed positive paces of growth. While the share of screws, bolts, nuts, coach screws, screw hooks, rivets, cotters, cotter-pins, washers (including spring washers) and similar articles, of iron or steel (+2.6 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of nails, tacks, drawing pins, corrugated nails, staples (not those of heading no. 8305) and the like, of iron or steel, with heads of other material or not, but excluding articles with heads of copper (-2.5 p.p.) displayed negative dynamics.

In value terms, screws, bolts, nuts, coach screws, screw hooks, rivets, cotters, cotter-pins, washers (including spring washers) and similar articles, of iron or steel ($50.8B) remains the largest type of nails, tacks, staples, screws and bolts supplied worldwide, comprising 88% of global exports. The second position in the ranking was taken by nails, tacks, drawing pins, corrugated nails, staples (not those of heading no. 8305) and the like, of iron or steel, with heads of other material or not, but excluding articles with heads of copper ($4.5B), with a 7.8% share of global exports. It was followed by nails, tacks, drawing pins, staples (not those of heading no. 8305) and the like, of copper or iron or steel with heads of copper; screws bolts, nuts, screws hooks, rivets, cotters, washers of copper, with a 2.8% share.

For screws, bolts, nuts, coach screws, screw hooks, rivets, cotters, cotter-pins, washers (including spring washers) and similar articles, of iron or steel, exports expanded at an average annual rate of +4.4% over the period from 2012-2022. For the other products, the average annual rates were as follows: nails, tacks, drawing pins, corrugated nails, staples (not those of heading no. 8305) and the like, of iron or steel, with heads of other material or not, but excluding articles with heads of copper (+5.7% per year) and nails, tacks, drawing pins, staples (not those of heading no. 8305) and the like, of copper or iron or steel with heads of copper; screws bolts, nuts, screws hooks, rivets, cotters, washers of copper (+6.1% per year).

Export Prices By Type

The average nail and bolt export price stood at $4,366 per ton in 2022, surging by 9.3% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.4%. The most prominent rate of growth was recorded in 2016 an increase of 28%. As a result, the export price attained the peak level of $4,461 per ton. From 2017 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exported products. In 2022, the product with the highest price was nails, tacks, drawing pins, staples (not those of heading no. 8305) and the like, of copper or iron or steel with heads of copper; screws bolts, nuts, screws hooks, rivets, cotters, washers of copper ($22,971 per ton), while the average price for exports of nails, tacks, drawing pins, corrugated nails, staples (not those of heading no. 8305) and the like, of iron or steel, with heads of other material or not, but excluding articles with heads of copper ($2,159 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by nails, tacks, drawing pins, corrugated nails, staples (not those of heading no. 8305) and the like, of iron or steel, with heads of other material or not, but excluding articles with heads of copper (+4.1%), while the other products experienced more modest paces of growth.

Export Prices By Country

In 2022, the average nail and bolt export price amounted to $4,366 per ton, surging by 9.3% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.4%. The pace of growth was the most pronounced in 2016 an increase of 28%. As a result, the export price attained the peak level of $4,461 per ton. From 2017 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United States ($8,424 per ton), while India ($2,638 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+4.9%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform