Nails And Tacks Market

The global market for nails, tacks, drawing pins, corrugated nails, and staples is on the rise driven by increasing demand worldwide. Consumption trends show steady growth, with market performance forecasted to accelerate over the next eight years. China leads in both consumption and production volumes, with the United States being a major importer. Base metal staples in strips for use in offices are the most imported product, while China dominates the exports structure. Understanding the current market dynamics and trends in this industry is vital for stakeholders to make informed decisions.

Market Forecast

Driven by increasing demand for nails, tacks, drawing pins, corrugated nails, staples worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +2.4% for the period from 2022 to 2030, which is projected to bring the market volume to 2.9M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.9% for the period from 2022 to 2030, which is projected to bring the market value to $14.1B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Nails, Tacks, Drawing Pins, Corrugated Nails, Staples

After four years of decline, consumption of nails, tacks, drawing pins, corrugated nails, staples increased by 2.3% to 2.4M tons in 2022. The total consumption volume increased at an average annual rate of +1.4% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2016 with an increase of 8.4%. Over the period under review, global consumption hit record highs at 2.5M tons in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

The global nails and tacks market value rose to $10.3B in 2022, surging by 3.4% 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 +2.7% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Global consumption peaked at $11.1B in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Consumption By Country

China (771K tons) constituted the country with the largest volume of nails and tacks consumption, accounting for 32% of total volume. Moreover, nails and tacks consumption in China exceeded the figures recorded by the second-largest consumer, India (294K tons), threefold. Turkey (197K tons) ranked third in terms of total consumption with an 8.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in China amounted to +1.6%. The remaining consuming countries recorded the following average annual rates of consumption growth: India (+4.0% per year) and Turkey (+2.9% per year).

In value terms, the largest nails and tacks markets worldwide were Japan ($2.8B), China ($2.1B) and Turkey ($1.5B), together comprising 62% of the global market. India, Russia, the United States, Poland, Germany, South Korea and Thailand lagged somewhat behind, together comprising a further 20%.

In terms of the main consuming countries, South Korea, with a CAGR of +6.7%, 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.

The countries with the highest levels of nails and tacks per capita consumption in 2022 were Turkey (2,297 kg per 1000 persons), Poland (1,754 kg per 1000 persons) and Japan (1,117 kg per 1000 persons).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the leading consuming countries, was attained by Japan (with a CAGR of +7.8%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Nails, Tacks, Drawing Pins, Corrugated Nails, Staples

In 2022, the amount of nails, tacks, drawing pins, corrugated nails, staples produced worldwide was estimated at 2.4M tons, approximately reflecting 2021. The total output volume increased at an average annual rate of +1.4% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The pace of growth was the most pronounced in 2017 with an increase of 9.7%. As a result, production attained the peak volume of 2.5M tons. From 2018 to 2022, global production growth remained at a somewhat lower figure.

In value terms, nails and tacks production fell slightly to $10.5B in 2022 estimated in export price. Over the period under review, the total production indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +5.0% against 2020 indices. The pace of growth was the most pronounced in 2018 with an increase of 23% against the previous year. Global production peaked at $13.2B in 2019; however, from 2020 to 2022, production remained at a lower figure.

Production By Country

The country with the largest volume of nails and tacks production was China (946K tons), accounting for 39% of total volume. Moreover, nails and tacks production in China exceeded the figures recorded by the second-largest producer, India (294K tons), threefold. The third position in this ranking was held by Turkey (194K tons), with an 8.1% share.

In China, nails and tacks production expanded at an average annual rate of +1.3% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: India (+3.7% per year) and Turkey (+3.1% per year).

Imports

World Imports of Nails, Tacks, Drawing Pins, Corrugated Nails, Staples

Global nails and tacks imports dropped slightly to 355K tons in 2022, remaining constant against the previous year's figure. In general, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by 17% against the previous year. Over the period under review, global imports reached the maximum at 382K tons in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, nails and tacks imports stood at $1B in 2022. Overall, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 21%. Over the period under review, global imports hit record highs at $1B in 2012; afterwards, it flattened through to 2022.

Imports By Country

The United States represented the major importing country with an import of around 95K tons, which amounted to 27% of total imports. Mexico (23K tons) held the second position in the ranking, followed by Germany (18K tons). All these countries together held near 12% share of total imports. The following importers - the Netherlands (14K tons), Indonesia (13K tons), Poland (9.7K tons), Canada (8.7K tons), Thailand (7.7K tons), Italy (7.2K tons), Russia (6.8K tons), France (6.5K tons), Vietnam (6.4K tons) and Brazil (6K tons) - together made up 24% of total imports.

Imports into the United States increased at an average annual rate of +2.9% from 2012 to 2022. At the same time, Vietnam (+10.0%), Indonesia (+4.0%), Italy (+3.4%), the Netherlands (+2.7%), Brazil (+2.4%) and Russia (+1.6%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in the world, with a CAGR of +10.0% from 2012-2022. Thailand and Poland experienced a relatively flat trend pattern. By contrast, France (-1.8%), Mexico (-2.3%), Canada (-2.4%) and Germany (-3.8%) illustrated a downward trend over the same period. The United States (+6.7 p.p.) significantly strengthened its position in terms of the global imports, while Mexico and Germany saw its share reduced by -1.7% and -2.4% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($223M) constitutes the largest market for imported nails, tacks, drawing pins, corrugated nails, staples worldwide, comprising 22% of global imports. The second position in the ranking was taken by Germany ($59M), with a 5.9% share of global imports. It was followed by Mexico, with a 5.6% share.

In the United States, nails and tacks imports expanded at an average annual rate of +1.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Germany (-3.2% per year) and Mexico (+0.9% per year).

Imports By Type

Base metal staples in strips for use in offices was the major imported product with an import of about 242K tons, which accounted for 68% of total imports. Base metal fittings for loose-leaf binders or files (58K tons) ranks second in terms of the total imports with a 16% share, followed by letter clips, letter corners of base metal (16%).

Base metal staples in strips for use in offices was also the fastest-growing in terms of imports, with a CAGR of +3.7% from 2012 to 2022. letter clips, letter corners of base metal (-2.5%) and base metal fittings for loose-leaf binders or files (-6.7%) illustrated a downward trend over the same period. While the share of base metal staples in strips for use in offices (+21 p.p.) increased significantly in terms of the global imports from 2012-2022, the share of letter clips, letter corners of base metal (-4.5 p.p.) and base metal fittings for loose-leaf binders or files (-16.1 p.p.) displayed negative dynamics.

In value terms, base metal staples in strips for use in offices ($589M) constitutes the largest type of nails, tacks, drawing pins, corrugated nails, staples imported worldwide, comprising 59% of global imports. The second position in the ranking was held by letter clips, letter corners of base metal ($218M), with a 22% share of global imports.

From 2012 to 2022, the average annual rate of growth in terms of the value of base metal staples in strips for use in offices imports amounted to +3.3%. With regard to the other imported products, the following average annual rates of growth were recorded: letter clips, letter corners of base metal (-1.0% per year) and base metal fittings for loose-leaf binders or files (-6.1% per year).

Import Prices By Type

The average nails and tacks import price stood at $2,820 per ton in 2022, increasing by 9.4% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. Over the period under review, average import prices attained the peak figure at $2,896 per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by the product type; the product with the highest price was letter clips, letter corners of base metal ($3,924 per ton), while the price for base metal staples in strips for use in offices ($2,436 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by metal letter clip (+1.5%), while the other products experienced mixed trends in the import price figures.

Import Prices By Country

In 2022, the average nails and tacks import price amounted to $2,820 per ton, surging by 9.4% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. Over the period under review, average import prices hit record highs at $2,896 per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Vietnam ($4,447 per ton), while the Netherlands ($2,052 per ton) was amongst the lowest.

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

Exports

World Exports of Nails, Tacks, Drawing Pins, Corrugated Nails, Staples

In 2022, the amount of nails, tacks, drawing pins, corrugated nails, staples exported worldwide dropped to 320K tons, reducing by -9.2% compared with the year before. In general, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by 26% against the previous year. The global exports peaked at 352K tons in 2021, and then declined in the following year.

In value terms, nails and tacks exports rose modestly to $1.1B in 2022. Overall, exports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 when exports increased by 22% against the previous year. The global exports peaked in 2022 and are likely to see gradual growth in the near future.

Exports By Country

China dominates exports structure, accounting for 176K tons, which was near 55% of total exports in 2022. Germany (11K tons), Slovenia (11K tons), South Korea (11K tons), the Netherlands (11K tons), Italy (9.1K tons), Taiwan (Chinese) (9K tons), Thailand (7.8K tons), Austria (7K tons), India (6.4K tons), the Czech Republic (6.3K tons), the United States (5.5K tons) and Oman (5.3K tons) took a little share of total exports.

China experienced a relatively flat trend pattern with regard to volume of exports of nails, tacks, drawing pins, corrugated nails, staples. At the same time, Oman (+135.1%), Thailand (+20.6%), South Korea (+12.5%), Austria (+3.8%), the Czech Republic (+2.3%), Taiwan (Chinese) (+2.0%) and Slovenia (+1.0%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in the world, with a CAGR of +135.1% from 2012-2022. India experienced a relatively flat trend pattern. By contrast, Germany (-1.5%), the Netherlands (-2.6%), Italy (-3.8%) and the United States (-8.3%) illustrated a downward trend over the same period. From 2012 to 2022, the share of South Korea, Thailand and Oman increased by +2.3, +2.1 and +1.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($589M) remains the largest nails and tacks supplier worldwide, comprising 54% of global exports. The second position in the ranking was taken by Germany ($47M), with a 4.3% share of global exports. It was followed by Slovenia, with a 3.3% share.

From 2012 to 2022, the average annual growth rate of value in China stood at +3.1%. The remaining exporting countries recorded the following average annual rates of exports growth: Germany (-1.3% per year) and Slovenia (+1.7% per year).

Exports By Type

Base metal staples in strips for use in offices represented the largest type of nails, tacks, drawing pins, corrugated nails, staples in the world, with the volume of exports accounting for 212K tons, which was approx. 66% of total exports in 2022. Letter clips, letter corners of base metal (60K tons) took the second position in the ranking, followed by base metal fittings for loose-leaf binders or files (48K tons). All these products together held approx. 34% share of total exports.

Base metal staples in strips for use in offices was also the fastest-growing in terms of exports, with a CAGR of +3.5% from 2012 to 2022. letter clips, letter corners of base metal (-2.8%) and base metal fittings for loose-leaf binders or files (-6.7%) illustrated a downward trend over the same period. From 2012 to 2022, the share of base metal staples in strips for use in offices increased by +20 percentage points.

In value terms, base metal staples in strips for use in offices ($550M), letter clips, letter corners of base metal ($335M) and base metal fittings for loose-leaf binders or files ($201M) constituted the products with the highest levels of exports in 2022.

Base metal staples in strips for use in offices, with a CAGR of +2.5%, saw the highest rates of growth with regard to the value of exports, in terms of the main exported products over the period under review, while shipments for the other products experienced mixed trends in the exports figures.

Export Prices By Type

In 2022, the average nails and tacks export price amounted to $3,397 per ton, picking up by 16% against the previous year. Overall, the export price showed a relatively flat trend pattern. The global export price peaked at $3,558 per ton in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by the product type; the product with the highest price was letter clips, letter corners of base metal ($5,623 per ton), while the average price for exports of base metal staples in strips for use in offices ($2,589 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by metal letter clip (+4.3%), while the other products experienced mixed trends in the export price figures.

Export Prices By Country

In 2022, the average nails and tacks export price amounted to $3,397 per ton, jumping by 16% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The global export price peaked at $3,558 per ton in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United States ($5,318 per ton), while Thailand ($1,572 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+5.3%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform