Asia-Pacific: Office Metal Staple Market 2024

Office Metal Staple Market Size in Asia-Pacific

The Asia-Pacific office metal staple market amounted to $X in 2022, growing by 3.1% against the previous year. In general, consumption, however, showed a noticeable decline. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Office Metal Staple Production in Asia-Pacific

In value terms, office metal staple production stood at $X in 2022 estimated in export price. Overall, production showed a perceptible descent. The most prominent rate of growth was recorded in 2018 when the production volume increased by 15% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

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Office Metal Staple Exports

Exports in Asia-Pacific

After five years of growth, overseas shipments of base metal staples in strips for use in offices decreased by -12.3% to X tons in 2022. Total exports indicated a perceptible expansion from 2012 to 2022: its volume increased at an average annual rate of +4.2% 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 +66.3% against 2016 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 36%. As a result, the exports reached the peak of X tons, and then dropped in the following year.

In value terms, office metal staple exports shrank modestly to $X in 2022. Total exports indicated temperate 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, exports increased by +41.4% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 43%. As a result, the exports reached the peak of $X, and then reduced modestly in the following year.

Exports by Country

China dominates exports structure, amounting to X tons, which was near 75% of total exports in 2022. South Korea (X tons) held the second position in the ranking, followed by Taiwan (Chinese) (X tons) and Thailand (X tons). All these countries together took approx. 19% share of total exports. The following exporters - India (X tons) and Malaysia (X tons) - together made up 4.7% of total exports.

Exports from China increased at an average annual rate of +3.4% from 2012 to 2022. At the same time, Thailand (+30.5%), South Korea (+14.3%), Taiwan (Chinese) (+4.9%) and India (+4.2%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +30.5% from 2012-2022. Malaysia experienced a relatively flat trend pattern. While the share of Thailand (+4.8 p.p.) and South Korea (+4.1 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of China (-6.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest office metal staple supplier in Asia-Pacific, comprising 70% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 6.4% share of total exports. It was followed by South Korea, with a 6% share.

From 2012 to 2022, the average annual growth rate of value in China stood at +5.3%. In the other countries, the average annual rates were as follows: Taiwan (Chinese) (+2.9% per year) and South Korea (+13.6% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2022, increasing by 13% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the 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 India ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+3.5%), while the other leaders experienced mixed trends in the export price figures.

Office Metal Staple Imports

Imports in Asia-Pacific

In 2022, the amount of base metal staples in strips for use in offices imported in Asia-Pacific amounted to X tons, remaining relatively unchanged against the previous year. In general, imports enjoyed a buoyant increase. The growth pace was the most rapid in 2015 with an increase of 20% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, office metal staple imports expanded rapidly to $X in 2022. Total imports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +33.4% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 26%. The level of import peaked in 2022 and is likely to see steady growth in years to come.

Imports by Country

Indonesia represented the largest importer of base metal staples in strips for use in offices in Asia-Pacific, with the volume of imports finishing at X tons, which was near 31% of total imports in 2022. Taiwan (Chinese) (X tons) held a 9.6% share (based on physical terms) of total imports, which put it in second place, followed by Thailand (8.9%), South Korea (7.7%), Japan (7%), India (5.8%), Australia (5%), Vietnam (4.7%) and Malaysia (4.5%).

From 2012 to 2022, average annual rates of growth with regard to office metal staple imports into Indonesia stood at +14.9%. At the same time, India (+26.6%), South Korea (+17.4%), Taiwan (Chinese) (+15.7%), Vietnam (+14.5%), Malaysia (+7.4%), Japan (+4.1%), Thailand (+3.0%) and Australia (+2.6%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +26.6% from 2012-2022. Indonesia (+12 p.p.), India (+4.5 p.p.), Taiwan (Chinese) (+4.3 p.p.), South Korea (+4.1 p.p.) and Vietnam (+1.8 p.p.) significantly strengthened its position in terms of the total imports, while Japan, Australia and Thailand saw its share reduced by -4.1%, -4.1% and -6.8% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Indonesia ($X) constitutes the largest market for imported base metal staples in strips for use in offices in Asia-Pacific, comprising 27% of total imports. The second position in the ranking was taken by Japan ($X), with an 11% share of total imports. It was followed by Thailand, with an 8% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Indonesia amounted to +15.9%. In the other countries, the average annual rates were as follows: Japan (+2.8% per year) and Thailand (+2.9% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2022, increasing by 5.3% against the previous year. In general, the import price, however, recorded a pronounced descent. The most prominent rate of growth was recorded in 2019 when the import price increased by 7.7%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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 Japan ($X per ton), while India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+0.9%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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