Turkey: Metal Self-Locking Nut Market 2024

Metal Self-Locking Nut Market Size in Turkey

The Turkish metal self-locking nut market dropped to $X in 2022, declining by X% against the previous year. Overall, consumption showed a pronounced decrease. The most prominent rate of growth was recorded in 2018 when the market value increased by X%. Over the period under review, the market reached the peak level at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Metal Self-Locking Nut Production in Turkey

In value terms, metal self-locking nut production declined slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Metal Self-Locking Nut Exports

Exports from Turkey

In 2022, approx. X tons of iron or steel nuts (including self-locking nuts) were exported from Turkey; rising by X% on the year before. In general, exports posted strong growth. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, metal self-locking nut exports skyrocketed to $X in 2022. Overall, exports posted a strong expansion. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are likely to see steady growth in the near future.

Exports by Country

Germany (X tons) was the main destination for metal self-locking nut exports from Turkey, with a X% share of total exports. Moreover, metal self-locking nut exports to Germany exceeded the volume sent to the second major destination, the United States (X tons), fourfold. The third position in this ranking was taken by France (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Germany totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and France (X% per year).

In value terms, Germany ($X) remains the key foreign market for iron or steel nuts (including self-locking nuts) exports from Turkey, comprising X% of total exports. The second position in the ranking was taken by the United States ($X), with a X% share of total exports. It was followed by France, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Germany totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and France (X% per year).

Export Prices by Country

The average metal self-locking nut export price stood at $X per ton in 2022, rising by X% against the previous year. Over the period under review, the export price, however, showed a perceptible contraction. The growth pace was the most rapid in 2020 when the average export price increased by X%. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were China ($X per ton) and the UK ($X per ton), while the average price for exports to Belgium ($X per ton) and Romania ($X per ton) were amongst the lowest.

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

Metal Self-Locking Nut Imports

Imports into Turkey

In 2022, purchases 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 three years of decline. In general, imports, however, showed a perceptible reduction. The most prominent rate of growth was recorded in 2021 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 expanded markedly to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports remained at a lower figure.

Imports by Country

China (X tons), Germany (X tons) and Japan (X tons) were the main suppliers of metal self-locking nut imports to Turkey, with a combined X% share of total imports. Taiwan (Chinese), South Korea, Malaysia, Italy and France lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Malaysia (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), China ($X) and Japan ($X) appeared to be the largest metal self-locking nut suppliers to Turkey, with a combined X% share of total imports. Taiwan (Chinese), France, Italy, South Korea and Malaysia lagged somewhat behind, together comprising a further X%.

In terms of the main suppliers, Malaysia, with a CAGR of X%, recorded the highest growth rate of 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, surging by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2016 when the average import price increased by X% against the previous year. The import price peaked in 2022 and is likely to continue growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per ton), while the price for Malaysia ($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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