Africa: Metal Self-Locking Nut Market 2024

Metal Self-Locking Nut Market Size in Africa

The African metal self-locking nut market shrank modestly to $X in 2022, leveling off at the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Metal Self-Locking Nut Production in Africa

In value terms, metal self-locking nut production fell slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 when the production volume increased by X% against the previous year. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Metal Self-Locking Nut Exports

Exports in Africa

Metal self-locking nut exports surged to X tons in 2022, jumping by X% on the previous year's figure. Overall, exports, however, recorded a relatively flat trend pattern. The volume of export peaked at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, metal self-locking nut exports skyrocketed to $X in 2022. The total export value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2013; afterwards, it flattened through to 2022.

Exports by Country

South Africa prevails in exports structure, reaching X tons, which was approx. X% of total exports in 2022. The following exporters - Benin (X tons) and Morocco (X tons) - together made up X% of total exports.

South Africa experienced a relatively flat trend pattern with regard to volume of exports of iron or steel nuts (including self-locking nuts). At the same time, Benin (X%) and Morocco (X%) displayed positive paces of growth. Moreover, Benin emerged as the fastest-growing exporter exported in Africa, with a CAGR of X% from 2012-2022. Benin (X p.p.) significantly strengthened its position in terms of the total exports, while South Africa saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) remains the largest metal self-locking nut supplier in Africa, comprising X% of total exports. The second position in the ranking was held by Morocco ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value in South Africa was relatively modest. The remaining exporting countries recorded the following average annual rates of exports growth: Morocco (X% per year) and Benin (X% per year).

Export Prices by Country

In 2022, the export price in Africa amounted to $X per ton, remaining relatively unchanged against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2013 when the export price increased by X% against the previous year. Over the period under review, the export prices attained the peak figure in 2022 and is expected to retain growth in years to come.

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 Morocco ($X per ton), while Benin ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Morocco (X%), while the other leaders experienced mixed trends in the export price figures.

Metal Self-Locking Nut Imports

Imports in Africa

In 2022, overseas purchases of iron or steel nuts (including self-locking nuts) increased by X% to X tons, rising for the second year in a row after two years of decline. The total import volume increased at an average annual rate of X% over the period 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 2018 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports failed to regain momentum.

In value terms, metal self-locking nut imports stood at $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to see steady growth in the near future.

Imports by Country

South Africa represented the major importing country with an import of about X tons, which finished at X% of total imports. Morocco (X tons) ranks second in terms of the total imports with a X% share, followed by Egypt (X%), Tanzania (X%) and Algeria (X%). Angola (X tons), Tunisia (X tons), Ghana (X tons), Nigeria (X tons), Kenya (X tons) and Zimbabwe (X tons) followed a long way behind the leaders.

Imports into South Africa increased at an average annual rate of X% from 2012 to 2022. At the same time, Ghana (X%), Zimbabwe (X%), Tanzania (X%) and Morocco (X%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing importer imported in Africa, with a CAGR of X% from 2012-2022. Tunisia and Kenya experienced a relatively flat trend pattern. By contrast, Angola (X%), Algeria (X%), Egypt (X%) and Nigeria (X%) illustrated a downward trend over the same period. Tanzania (X p.p.), South Africa (X p.p.) and Morocco (X p.p.) significantly strengthened its position in terms of the total imports, while Algeria, Egypt and Nigeria saw its share reduced by X%, X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X), Morocco ($X) and Egypt ($X) constituted the countries with the highest levels of imports in 2022, with a combined X% share of total imports.

In terms of the main importing countries, Egypt, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Africa amounted to $X per ton, with an increase of X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2021 an increase of X%. Over the period under review, import prices reached the maximum in 2022 and is expected to retain 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 Egypt ($X per ton), while Tanzania ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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