Canada: Base Metal Hook Market 2023

Base Metal Hook Market Size in Canada

In 2021, the Canadian base metal hook market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, the total consumption indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +4.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -30.1% against 2018 indices. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market remained at a lower figure.

Base Metal Hook Production in Canada

In value terms, base metal hook production surged to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a perceptible increase. The pace of growth appeared the most rapid in 2014 with an increase of 108%. Base metal hook production peaked at $X in 2016; however, from 2017 to 2021, production failed to regain momentum.

Base Metal Hook Exports

Exports from Canada

In 2021, overseas shipments of base metal hooks, eyes and eyelets increased by 34% to X tons for the first time since 2016, thus ending a four-year declining trend. Over the period under review, total exports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +5.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, base metal hook exports skyrocketed to $X in 2021. In general, total exports indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +7.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the exports reached the maximum at $X in 2018; afterwards, it flattened through to 2021.

Exports by Country

The United States (X tons) was the main destination for base metal hook exports from Canada, with a 83% share of total exports. Moreover, base metal hook exports to the United States exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), more than tenfold. The third position in this ranking was held by India (X tons), with a 2.4% share.

From 2012 to 2021, the average annual growth rate of volume to the United States amounted to +4.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+26.4% per year) and India (+4.5% per year).

In value terms, the United States ($X) remains the key foreign market for base metal hook exports from Canada, comprising 85% of total exports. The second position in the ranking was held by India ($X), with a 2.4% share of total exports. It was followed by Slovakia, with a 2.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States stood at +6.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+7.1% per year) and Slovakia (+197.0% per year).

Export Prices by Country

In 2021, the average base metal hook export price amounted to $X per ton, picking up by 7.5% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.8%. The growth pace was the most rapid in 2018 an increase of 18% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was India ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Slovakia (+3.0%), while the prices for the other major destinations experienced more modest paces of growth.

Base Metal Hook Imports

Imports into Canada

In 2021, imports of base metal hooks, eyes and eyelets into Canada skyrocketed to X tons, increasing by 40% compared with 2020. In general, imports, however, showed a deep slump. The most prominent rate of growth was recorded in 2018 when imports increased by 90% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, base metal hook imports surged to $X in 2021. Overall, imports, however, showed a pronounced reduction. Imports peaked at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest base metal hook supplier to Canada, with a 57% share of total imports. Moreover, base metal hook imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), twofold. The third position in this ranking was taken by the Netherlands (X tons), with a 5.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to -2.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-11.4% per year) and the Netherlands (+69.3% per year).

In value terms, the largest base metal hook suppliers to Canada were China ($X), the United States ($X) and the UK ($X), together comprising 75% of total imports. These countries were followed by Hong Kong SAR, Taiwan (Chinese), the Netherlands and Japan, which together accounted for a further 19%.

In terms of the main suppliers, the Netherlands, with a CAGR of +44.7%, saw the highest rates of growth with regard to 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 2021, the average base metal hook import price amounted to $X per ton, picking up by 20% against the previous year. Over the period under review, the import price showed a pronounced increase. The most prominent rate of growth was recorded in 2014 when the average import price increased by 52%. The import price peaked at $X per ton in 2016; however, from 2017 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was the UK ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+13.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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