Norway: Metal Self-Locking Nut Market 2024

Metal Self-Locking Nut Market Size in Norway

The Norwegian metal self-locking nut market was estimated at $X in 2022, with an increase of X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated a measured increase 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, consumption increased by X% against 2017 indices. Metal self-locking nut consumption peaked in 2022 and is expected to retain growth in years to come.

Metal Self-Locking Nut Exports

Exports from Norway

In 2022, overseas shipments of iron or steel nuts (including self-locking nuts) increased by X% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, exports enjoyed buoyant growth. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, metal self-locking nut exports surged to $X in 2022. Overall, total exports indicated a noticeable expansion 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 pace of growth appeared the most rapid in 2017 with an increase of X%. Over the period under review, the exports attained the maximum at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Denmark (X tons), Sweden (X tons) and France (X tons) were the main destinations of metal self-locking nut exports from Norway, with a combined X% share of total exports. The UK, the Netherlands, Poland, Germany, Faroe Islands, the United States, Bulgaria, Turkey, Ireland and South Korea lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Ireland (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Denmark ($X), Sweden ($X) and the UK ($X) appeared to be the largest markets for metal self-locking nut exported from Norway worldwide, together accounting for X% of total exports. The United States, the Netherlands, Germany, France, Poland, Turkey, Ireland, South Korea, Bulgaria and Faroe Islands lagged somewhat behind, together accounting for a further X%.

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

Export Prices by Country

In 2022, the average metal self-locking nut export price amounted to $X per ton, dropping by X% against the previous year. Over the period under review, the export price saw a pronounced curtailment. The pace of growth was the most pronounced in 2019 an increase of X% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Faroe Islands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (X%), while the prices for the other major destinations experienced mixed trend patterns.

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Metal Self-Locking Nut Imports

Imports into Norway

In 2022, the amount of iron or steel nuts (including self-locking nuts) imported into Norway expanded sharply to X tons, rising by X% against the year before. Overall, total imports indicated resilient growth from 2012 to 2022: its volume 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, imports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2018 when imports increased by X%. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, metal self-locking nut imports expanded notably to $X in 2022. Over the period under review, total imports indicated tangible 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, imports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2018 when imports increased by X% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, China (X tons) constituted the largest metal self-locking nut supplier to Norway, accounting for a X% share of total imports. Moreover, metal self-locking nut imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), sixfold. The third position in this ranking was held by Taiwan (Chinese) (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and Taiwan (Chinese) (X% per year).

In value terms, the largest metal self-locking nut suppliers to Norway were China ($X), Germany ($X) and the UK ($X), with a combined X% share of total imports. Italy, Taiwan (Chinese), Sweden, Denmark, the Netherlands and Hong Kong SAR lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, Hong Kong SAR, with a CAGR of X%, recorded 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

The average metal self-locking nut import price stood at $X per ton in 2022, picking up by X% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 an increase of X%. Over the period under review, average import prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the UK ($X per ton), while the price for Hong Kong SAR ($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 prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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