Indonesia: Base Metal Hook Market 2023

Base Metal Hook Market Size in Indonesia

The Indonesian base metal hook market rose modestly to $X in 2021, increasing by 3.7% against the previous year. In general, consumption continues to indicate buoyant growth. Over the period under review, the market attained the maximum level in 2021 and is expected to retain growth in the near future.

Base Metal Hook Production in Indonesia

In value terms, base metal hook production dropped markedly to $X in 2021 estimated in export price. Over the period under review, production, however, enjoyed a buoyant expansion. The pace of growth was the most pronounced in 2020 with an increase of 59%. As a result, production attained the peak level of $X, and then dropped dramatically in the following year.

Base Metal Hook Exports

Exports from Indonesia

In 2021, shipments abroad of base metal hooks, eyes and eyelets increased by 50% to X tons for the first time since 2018, thus ending a two-year declining trend. In general, exports, however, saw a abrupt decline. The most prominent rate of growth was recorded in 2013 with an increase of 84%. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, base metal hook exports soared to $X in 2021. Overall, exports continue to indicate a pronounced expansion. The pace of growth appeared the most rapid in 2018 with an increase of 108% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Vietnam (X tons), India (X tons) and Honduras (X tons) were the main destinations of base metal hook exports from Indonesia, together comprising 51% of total exports. These countries were followed by the Philippines, El Salvador, Myanmar, Singapore and Malaysia, which together accounted for a further 41%.

From 2012 to 2021, the biggest increases were in El Salvador (with a CAGR of +231.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for base metal hook exported from Indonesia were India ($X), Honduras ($X) and Vietnam ($X), with a combined 60% share of total exports. These countries were followed by El Salvador, Myanmar, Singapore, the Philippines and Malaysia, which together accounted for a further 24%.

Among the main countries of destination, El Salvador, with a CAGR of +203.8%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average base metal hook export price stood at $X per ton in 2021, increasing by 34% against the previous year. Over the period under review, the export price posted strong growth. The pace of growth appeared the most rapid in 2018 an increase of 100%. Over the period under review, the average export prices attained the maximum in 2021 and is likely to see steady growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Singapore ($X per ton), while the average price for exports to the Philippines ($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 Vietnam (+18.4%), while the prices for the other major destinations experienced more modest paces of growth.

Base Metal Hook Imports

Imports into Indonesia

In 2021, supplies from abroad of base metal hooks, eyes and eyelets increased by 55% to X tons for the first time since 2017, thus ending a three-year declining trend. In general, total imports indicated a pronounced increase from 2012 to 2021: its volume increased at an average annual rate of +3.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, base metal hook imports skyrocketed to $X in 2021. Overall, total imports indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +5.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of base metal hook to Indonesia, with a 71% 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. The third position in this ranking was taken by Hong Kong SAR (X tons), with an 8.3% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +9.6%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-3.2% per year) and Hong Kong SAR (-5.3% per year).

In value terms, China ($X) constituted the largest supplier of base metal hook to Indonesia, comprising 56% of total imports. The second position in the ranking was held by South Korea ($X), with an 18% share of total imports. It was followed by Hong Kong SAR, with a 14% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +13.5%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+0.8% per year) and Hong Kong SAR (-0.8% per year).

Import Prices by Country

The average base metal hook import price stood at $X per ton in 2021, growing by 9.7% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.0%. The growth pace was the most rapid in 2018 an increase of 21% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2015; however, from 2016 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+20.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

Frequently Asked Questions (FAQ) :