Threaded Metal Articles Market

The article discusses the projected growth of the global market for threaded articles of iron or steel, with a focus on consumption, production, imports, and exports trends. The market is forecasted to experience significant increases in volume and value over the next eight years. Key insights include the decline in consumption in 2022 after a four-year rising trend, as well as fluctuations in production and import volumes. China leads in production and exports, while the United States and Germany are major importers. The average export price shows fluctuations, with notable differences among major exporting countries.

Market Forecast

Driven by increasing demand for threaded articles of iron or steel 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 +3.7% for the period from 2022 to 2030, which is projected to bring the market volume to 2.7M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.2% for the period from 2022 to 2030, which is projected to bring the market value to $16.7B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Threaded Articles Of Iron Or Steel

In 2022, consumption of threaded articles of iron or steel decreased by -20.5% to 2.1M tons for the first time since 2017, thus ending a four-year rising trend. The total consumption volume increased at an average annual rate of +1.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, global consumption hit record highs at 2.6M tons in 2021, and then declined remarkably in the following year.

The global threaded metal articles market size contracted to $12B in 2022, reducing by -5.9% 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 +3.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $12.8B, and then contracted in the following year.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (374K tons), the United States (256K tons) and India (204K tons), together accounting for 41% of global consumption. Italy, Turkey, Japan, Poland, the UK, Russia, South Korea, Democratic Republic of the Congo, Germany and Belgium lagged somewhat behind, together accounting for a further 32%.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +14.0%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($2.7B), Turkey ($2.4B) and Japan ($1.1B) were the countries with the highest levels of market value in 2022, with a combined 52% share of the global market.

In terms of the main consuming countries, Turkey, with a CAGR of +14.7%, 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.

The countries with the highest levels of threaded metal articles per capita consumption in 2022 were Belgium (2,900 kg per 1000 persons), Italy (2,471 kg per 1000 persons) and Poland (1,624 kg per 1000 persons).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by Turkey (with a CAGR of +12.5%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Threaded Articles Of Iron Or Steel

In 2022, production of threaded articles of iron or steel decreased by -17% to 2.2M tons for the first time since 2016, thus ending a five-year rising trend. The total output volume increased at an average annual rate of +1.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 when the production volume increased by 16% against the previous year. Global production peaked at 2.7M tons in 2021, and then reduced notably in the following year.

In value terms, threaded metal articles production contracted to $11B in 2022 estimated in export price. In general, the total production indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +3.4% 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 +12.0% against 2020 indices. The pace of growth was the most pronounced in 2019 with an increase of 23%. As a result, production attained the peak level of $13.3B. From 2020 to 2022, global production growth failed to regain momentum.

Production By Country

China (837K tons) constituted the country with the largest volume of threaded metal articles production, accounting for 38% of total volume. Moreover, threaded metal articles production in China exceeded the figures recorded by the second-largest producer, India (249K tons), threefold. The third position in this ranking was taken by the United States (246K tons), with an 11% share.

In China, threaded metal articles production remained relatively stable over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: India (+3.8% per year) and the United States (+3.8% per year).

Imports

World Imports of Threaded Articles Of Iron Or Steel

In 2022, the amount of threaded articles of iron or steel imported worldwide shrank to 687K tons, dropping by -11.9% on the year before. The total import volume increased at an average annual rate of +3.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 35%. As a result, imports reached the peak of 779K tons, and then reduced in the following year.

In value terms, threaded metal articles imports totaled $3.5B in 2022. The total import value increased at an average annual rate of +4.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when imports increased by 25%. Global imports peaked in 2022 and are likely to see gradual growth in the immediate term.

Imports By Country

The purchases of the twelve major importers of threaded articles of iron or steel, namely Russia, the UK, Germany, Italy, France, the United Arab Emirates, India, the United States, Thailand, Spain, Canada and Mexico, represented more than half of total import. South Korea (17K tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of +22.7%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest threaded metal articles importing markets worldwide were Germany ($305M), France ($196M) and the UK ($168M), with a combined 19% share of global imports. The United States, Italy, Spain, Mexico, India, Russia, Canada, the United Arab Emirates, South Korea and Thailand lagged somewhat behind, together accounting for a further 30%.

Among the main importing countries, South Korea, with a CAGR of +14.4%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

In 2022, the average threaded metal articles import price amounted to $5,045 per ton, jumping by 18% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.1%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Germany ($7,907 per ton), while Russia ($2,141 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+6.9%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Threaded Articles Of Iron Or Steel

In 2022, overseas shipments of threaded articles of iron or steel decreased by -2% to 852K tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, total exports indicated a tangible increase from 2012 to 2022: its volume increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +155.0% against 2016 indices. The most prominent rate of growth was recorded in 2017 when exports increased by 83% against the previous year. The global exports peaked at 869K tons in 2021, and then declined in the following year.

In value terms, threaded metal articles exports rose to $3.9B in 2022. In general, total exports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +32.0% against 2018 indices. The most prominent rate of growth was recorded in 2021 with an increase of 31%. Over the period under review, the global exports attained the peak figure in 2022 and are likely to see steady growth in the near future.

Exports By Country

China prevails in exports structure, resulting at 467K tons, which was approx. 55% of total exports in 2022. India (70K tons) took an 8.2% share (based on physical terms) of total exports, which put it in second place, followed by Germany (6.2%) and Taiwan (Chinese) (5.9%). The following exporters - the Netherlands (26K tons), France (18K tons), Spain (14K tons), Italy (14K tons) and the United States (14K tons) - together made up 10% of total exports.

Exports from China increased at an average annual rate of +3.5% from 2012 to 2022. At the same time, the Netherlands (+16.4%), Spain (+7.6%), Taiwan (Chinese) (+6.3%), Germany (+6.1%) and India (+4.6%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing exporter exported in the world, with a CAGR of +16.4% from 2012-2022. The United States and France experienced a relatively flat trend pattern. By contrast, Italy (-3.2%) illustrated a downward trend over the same period. The Netherlands (+2.1 p.p.) significantly strengthened its position in terms of the global exports, while Italy saw its share reduced by -1.6% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($1.2B) remains the largest threaded metal articles supplier worldwide, comprising 29% of global exports. The second position in the ranking was held by Germany ($573M), with a 15% share of global exports. It was followed by Taiwan (Chinese), with a 6.8% share.

From 2012 to 2022, the average annual growth rate of value in China amounted to +8.4%. The remaining exporting countries recorded the following average annual rates of exports growth: Germany (+5.3% per year) and Taiwan (Chinese) (+10.6% per year).

Export Prices By Country

The average threaded metal articles export price stood at $4,624 per ton in 2022, surging by 5.4% against the previous year. Overall, export price indicated a slight expansion from 2012 to 2022: its price increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, threaded metal articles export price increased by +8.8% against 2020 indices. The most prominent rate of growth was recorded in 2016 when the average export price increased by 95%. As a result, the export price attained the peak level of $6,863 per ton. From 2017 to 2022, the average export prices remained at a lower figure.

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 ($18,401 per ton), while India ($2,029 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+6.5%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform