Singapore: Metal Self-Locking Nut Market 2024

Metal Self-Locking Nut Market Size in Singapore

The Singaporean metal self-locking nut market declined markedly to $X in 2022, shrinking by X% against the previous year. In general, consumption, however, recorded a buoyant expansion. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Metal Self-Locking Nut Production in Singapore

In value terms, metal self-locking nut production reduced rapidly to $X in 2022 estimated in export price. Over the period under review, production saw a dramatic curtailment. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Metal Self-Locking Nut Exports

Exports from Singapore

In 2022, overseas shipments of iron or steel nuts (including self-locking nuts) were finally on the rise to reach X tons for the first time since 2017, thus ending a four-year declining trend. Overall, exports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of X%. As a result, the exports attained the peak of X tons. From 2018 to 2022, the growth of the exports failed to regain momentum.

In value terms, metal self-locking nut exports rose notably to $X in 2022. Over the period under review, total exports indicated resilient 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 pace of growth was the most pronounced in 2017 with an increase of X%. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

Malaysia (X tons), South Africa (X tons) and Indonesia (X tons) were the main destinations of metal self-locking nut exports from Singapore, with a combined X% share of total exports.

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

In value terms, Malaysia ($X) remains the key foreign market for iron or steel nuts (including self-locking nuts) exports from Singapore, comprising X% of total exports. The second position in the ranking was held by Indonesia ($X), with a X% share of total exports. It was followed by India, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Malaysia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (X% per year) and India (X% per year).

Export Prices by Country

In 2022, the average metal self-locking nut export price amounted to $X per ton, growing by X% against the previous year. Over the period under review, the export price recorded a remarkable increase. The pace of growth was the most pronounced in 2018 an increase of X%. The export price peaked in 2022 and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to South Africa ($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 Indonesia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Self-Locking Nut Imports

Imports into Singapore

In 2022, supplies from abroad of iron or steel nuts (including self-locking nuts) increased by X% to X tons, rising for the second consecutive year after three years of decline. In general, imports posted a notable expansion. The most prominent rate of growth was recorded in 2013 when imports increased by X%. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, metal self-locking nut imports rose notably to $X in 2022. Overall, imports continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Imports peaked in 2022 and are likely to see steady growth in years to come.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of metal self-locking nut to Singapore, with a X% share of total imports. Moreover, metal self-locking nut imports from China exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), fourfold. The third position in this ranking was taken by Mexico (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: Malaysia (X% per year) and Mexico (X% per year).

In value terms, the largest metal self-locking nut suppliers to Singapore were China ($X), the United States ($X) and Taiwan (Chinese) ($X), with a combined X% share of total imports. Malaysia, Japan, Mexico, South Korea and Thailand lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, Mexico, with a CAGR of X%, 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 2022, the average metal self-locking nut import price amounted to $X per ton, reducing by X% against the previous year. In general, the import price, however, posted a buoyant increase. The pace of growth was the most pronounced in 2020 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2021, and then reduced in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Mexico ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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