India: Base Metal Hook Market 2023

Base Metal Hook Market Size in India

For the tenth consecutive year, the Indian base metal hook market recorded growth in sales value, which increased by 4.3% to $X in 2021. In general, the total consumption indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +6.3% 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 increased by +73.7% against 2012 indices. Over the period under review, the market attained the peak level in 2021 and is likely to continue growth in the immediate term.

Base Metal Hook Production in India

In value terms, base metal hook production amounted to $X in 2021 estimated in export price. Over the period under review, the total production indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +6.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -2.4% against 2019 indices. The most prominent rate of growth was recorded in 2019 with an increase of 19% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2021, production growth remained at a lower figure.

Base Metal Hook Exports

Exports from India

Base metal hook exports from India skyrocketed to X tons in 2021, increasing by 31% against 2020. In general, exports enjoyed a resilient increase. The pace of growth appeared the most rapid in 2019 when exports increased by 102%. As a result, the exports reached the peak of X tons. From 2020 to 2021, the growth of the exports remained at a lower figure.

In value terms, base metal hook exports surged to $X in 2021. Over the period under review, exports saw a strong expansion. The growth pace was the most rapid in 2019 when exports increased by 169% against the previous year. As a result, the exports attained the peak of $X. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Bangladesh (X tons) was the main destination for base metal hook exports from India, accounting for a 65% share of total exports. Moreover, base metal hook exports to Bangladesh exceeded the volume sent to the second major destination, the United States (X tons), ninefold. Nepal (X tons) ranked third in terms of total exports with a 6.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Bangladesh amounted to +68.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-8.0% per year) and Nepal (+50.0% per year).

In value terms, Bangladesh ($X) remains the key foreign market for base metal hook exports from India, comprising 51% of total exports. The second position in the ranking was taken by the United States ($X), with an 11% share of total exports. It was followed by Nepal, with a 6.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Bangladesh amounted to +47.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-3.5% per year) and Nepal (+54.4% per year).

Export Prices by Country

In 2021, the average base metal hook export price amounted to $X per ton, growing by 6.7% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 33% against the previous year. The export price peaked at $X per ton in 2016; however, from 2017 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was France ($X per ton), while the average price for exports to Bangladesh ($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 France (+17.7%), while the prices for the other major destinations experienced more modest paces of growth.

Base Metal Hook Imports

Imports into India

In 2021, the amount of base metal hooks, eyes and eyelets imported into India soared to X tons, growing by 47% compared with 2020. Over the period under review, imports continue to indicate a buoyant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, base metal hook imports soared to $X in 2021. In general, total imports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +6.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -11.9% against 2019 indices. Over the period under review, imports attained the peak figure at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest base metal hook supplier to India, accounting for a 67% share of total imports. Moreover, base metal hook imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X tons), sixfold. Hong Kong SAR (X tons) ranked third in terms of total imports with a 6.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +20.4%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+14.2% per year) and Hong Kong SAR (-6.0% per year).

In value terms, China ($X) constituted the largest supplier of base metal hook to India, comprising 43% of total imports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 14% share of total imports. It was followed by South Korea, with a 12% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +18.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (-1.2% per year) and South Korea (+12.9% per year).

Import Prices by Country

The average base metal hook import price stood at $X per ton in 2021, declining by -1.5% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the average import price increased by 40% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2015; however, from 2016 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Germany ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+18.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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