Turkey: Metal Screw Hook Market 2024

Metal Screw Hook Market Size in Turkey

The Turkish metal screw hook market rose sharply to $X in 2022, picking up by 5.3% against the previous year. The market value increased at an average annual rate of +1.8% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Metal Screw Hook Production in Turkey

In value terms, metal screw hook production shrank remarkably to $X in 2022 estimated in export price. Over the period under review, production continues to indicate buoyant growth. The most prominent rate of growth was recorded in 2021 with an increase of 98%. As a result, production attained the peak level of $X, and then shrank remarkably in the following year.

Metal Screw Hook Exports

Exports from Turkey

In 2022, approx. X tons of iron or steel screw hooks and screw rings were exported from Turkey; surging by 34% on 2021. In general, exports saw a modest expansion. The pace of growth was the most pronounced in 2020 with an increase of 50%. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in years to come.

In value terms, metal screw hook exports soared to $X in 2022. Over the period under review, exports showed prominent growth. The pace of growth was the most pronounced in 2018 when exports increased by 93%. Over the period under review, the exports reached the peak figure in 2022 and are likely to continue growth in the immediate term.

Exports by Country

Germany (X tons) was the main destination for metal screw hook exports from Turkey, accounting for a 58% share of total exports. Moreover, metal screw hook exports to Germany exceeded the volume sent to the second major destination, the UK (X tons), fivefold. Bangladesh (X tons) ranked third in terms of total exports with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany amounted to +70.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+117.8% per year) and Bangladesh (-4.8% per year).

In value terms, Germany ($X) remains the key foreign market for iron or steel screw hooks and screw rings exports from Turkey, comprising 74% of total exports. The second position in the ranking was held by the UK ($X), with a 6.5% share of total exports. It was followed by Bangladesh, with a 4.6% share.

From 2012 to 2022, the average annual growth rate of value to Germany totaled +68.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+114.3% per year) and Bangladesh (-6.6% per year).

Export Prices by Country

In 2022, the average metal screw hook export price amounted to $X per ton, increasing by 14% against the previous year. Over the period under review, export price indicated a strong expansion from 2012 to 2022: its price increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, metal screw hook export price increased by +13.1% against 2018 indices. The pace of growth was the most pronounced in 2018 an increase of 49% against the previous year. Over the period under review, the average export prices attained the peak figure in 2022 and is likely to continue growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Iran ($X per ton), while the average price for exports to Bangladesh ($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 Iran (+14.6%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Screw Hook Imports

Imports into Turkey

Metal screw hook imports into Turkey skyrocketed to X tons in 2022, increasing by 42% compared with the year before. Overall, imports posted a notable increase. The most prominent rate of growth was recorded in 2020 with an increase of 79% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, metal screw hook imports surged to $X in 2022. Over the period under review, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of 44%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, China (X tons) constituted the largest metal screw hook supplier to Turkey, with a 88% share of total imports. Moreover, metal screw hook imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), tenfold.

From 2012 to 2022, the average annual growth rate of volume from China stood at +3.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+11.6% per year) and Italy (+8.8% per year).

In value terms, China ($X) constituted the largest supplier of iron or steel screw hooks and screw rings to Turkey, comprising 71% of total imports. The second position in the ranking was taken by Germany ($X), with an 18% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China totaled +2.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+8.0% per year) and Italy (+5.4% per year).

Import Prices by Country

In 2022, the average metal screw hook import price amounted to $X per ton, shrinking by -13.5% against the previous year. In general, the import price continues to indicate a slight downturn. The most prominent rate of growth was recorded in 2015 an increase of 24% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, 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 2022, the most notable rate of growth in terms of prices was attained by China (-1.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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