Eastern Asia: Metal Self-Locking Nut Market 2024

Metal Self-Locking Nut Market Size in Eastern Asia

In 2022, the East Asian metal self-locking nut market decreased by X% to $X, falling for the second year in a row after four years of growth. In general, consumption showed a mild decrease. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Metal Self-Locking Nut Production in Eastern Asia

In value terms, metal self-locking nut production reduced modestly to $X in 2022 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Metal Self-Locking Nut Exports

Exports in Eastern Asia

In 2022, shipments abroad 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 export volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to see steady growth in years to come.

In value terms, metal self-locking nut exports rose sharply to $X in 2022. Total exports indicated notable growth from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

In 2022, China (X tons) was the major exporter of iron or steel nuts (including self-locking nuts), generating X% of total exports. It was distantly followed by Taiwan (Chinese) (X tons) and Japan (X tons), together generating a X% share of total exports. South Korea (X tons) took a minor share of total exports.

China was also the fastest-growing in terms of the iron or steel nuts (including self-locking nuts) exports, with a CAGR of X% from 2012 to 2022. At the same time, South Korea (X%) displayed positive paces of growth. Taiwan (Chinese) and Japan experienced a relatively flat trend pattern. While the share of China (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Japan (X p.p.) and Taiwan (Chinese) (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest metal self-locking nut supplying countries in Eastern Asia were China ($X), Taiwan (Chinese) ($X) and Japan ($X), with a combined X% share of total exports.

China, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, increasing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($X per ton), while China ($X per ton) was amongst the lowest.

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

Metal Self-Locking Nut Imports

Imports in Eastern Asia

In 2022, metal self-locking nut imports in Eastern Asia shrank modestly to X tons, almost unchanged from 2021. In general, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by X%. The volume of import peaked at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, metal self-locking nut imports totaled $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 remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The countries with the highest levels of metal self-locking nut imports in 2022 were China (X tons), South Korea (X tons) and Japan (X tons), together accounting for X% of total import. Taiwan (Chinese) (X tons) took a minor share of total imports.

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

In value terms, China ($X) constitutes the largest market for imported iron or steel nuts (including self-locking nuts) in Eastern Asia, comprising X% of total imports. The second position in the ranking was taken by Japan ($X), with a X% share of total imports. It was followed by South Korea, with a X% share.

In China, metal self-locking nut imports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Japan (X% per year) and South Korea (X% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, surging by X% against the previous year. Overall, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs in 2022 and is expected to retain growth in years to come.

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 China ($X per ton), while South Korea ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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