Hong Kong SAR, China - Nails, Tacks, Drawing Pins, Corrugated Nails, Staples - Market Analysis, Forecast, Size, Trends And Insights
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View PricingHong Kongs Experiences Significant Increase in Import of Nails and Tacks, Reaching $849K in September 2023
Hong Kong Nails And Tacks Imports
In September 2023, purchases abroad of nails, tacks, drawing pins, corrugated nails, staples increased by 28% to 187 tons, rising for the second month in a row after two months of decline. Over the period under review, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in February 2023 when imports increased by 44% m-o-m.
In value terms, nails and tacks imports soared to $849K (IndexBox estimates) in September 2023. In general, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in December 2022 with an increase of 51% against the previous month. As a result, imports attained the peak of $2M. From January 2023 to September 2023, the growth of imports remained at a lower figure.
| COUNTRY | Import Value of Nails And Tacks in Hong Kong (thousand USD) | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sep 2022 | Oct 2022 | Nov 2022 | Dec 2022 | Jan 2023 | Feb 2023 | Mar 2023 | Apr 2023 | May 2023 | Jun 2023 | Jul 2023 | Aug 2023 | Sep 2023 | |
| China | 709 | 927 | 1,025 | 1,937 | 795 | 963 | 1,020 | 781 | 1,103 | 999 | 485 | 696 | 782 |
| Malaysia | N/A | 45.1 | 102 | 48.4 | 53.2 | 1.5 | 105 | 49.1 | 24.6 | 0.8 | 15.0 | 13.7 | 33.1 |
| Japan | 65.4 | 117 | 154 | 19.9 | 17.0 | 70.8 | 142 | 45.1 | 6.6 | 45.7 | 30.3 | 12.2 | 31.1 |
| Others | 16.4 | 15.2 | 54.7 | 16.4 | 13.3 | 21.8 | 11.8 | 10.8 | 11.6 | 5.6 | 9.5 | 6.5 | 3.3 |
| Total | 791 | 1,104 | 1,335 | 2,022 | 879 | 1,058 | 1,279 | 886 | 1,146 | 1,051 | 539 | 729 | 849 |
Imports by Country
In September 2023, China (177 tons) was the main supplier of nails and tacks to Hong Kong, accounting for a 94% share of total imports. Moreover, nails and tacks imports from China exceeded the figures recorded by the second-largest supplier, Malaysia (6.9 tons), more than tenfold.
From September 2022 to September 2023, the average monthly rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average monthly rates of imports growth: Malaysia (-0.6% per month) and Japan (+3.9% per month).
In value terms, China ($782K) constituted the largest supplier of nails and tacks to Hong Kong, comprising 92% of total imports. The second position in the ranking was taken by Malaysia ($33K), with a 3.9% share of total imports.
From September 2022 to September 2023, the average monthly growth rate of value from China was relatively modest. The remaining supplying countries recorded the following average monthly rates of imports growth: Malaysia (-2.8% per month) and Japan (-6.0% per month).
Imports by Type
In September 2023, letter clips, letter corners of base metal (171 tons) was the main type of nails and tacks supplied to Hong Kong, accounting for a 91% share of total imports. Moreover, letter clips, letter corners of base metal exceeded the figures recorded for the second-largest type, base metal staples in strips for use in offices (8.5 tons), more than tenfold.
From September 2022 to September 2023, the average monthly growth rate of the volume of import of letter clips, letter corners of base metal was relatively modest. With regard to the other supplied products, the following average monthly rates of growth were recorded: base metal staples in strips for use in offices (+21.6% per month) and base metal fittings for loose-leaf binders or files (-5.3% per month).
In value terms, letter clips, letter corners of base metal ($761K) constituted the largest type of nails and tacks supplied to Hong Kong, comprising 90% of total imports. The second position in the ranking was taken by base metal staples in strips for use in offices ($49K), with a 5.7% share of total imports.
Import Prices by Country
In September 2023, the nails and tacks price stood at $4,532 per ton (CIF, Hong Kong), waning by -9.1% against the previous month. Over the period under review, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in October 2022 an increase of 32% month-to-month. Over the period under review, average import prices hit record highs at $6,836 per ton in December 2022; however, from January 2023 to September 2023, import prices failed to regain momentum.
Prices varied noticeably by the country of origin: the country with the highest price was Japan ($10,012 per ton), while the price for China ($4,418 per ton) was amongst the lowest.
From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by China (+0.7%), while the prices for the other major suppliers experienced a decline.
This report provides an in-depth analysis of the nails and tacks market in Hong Kong SAR, China. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 25931400 - Nails, tacks, drawing pins, corrugated nails, staples (other than those of HS
- Prodcom 25992330 - Base metal fittings for loose-leaf binders or files
- Prodcom 25992350 - Base metal staples in strips for use in offices, upholstery and packaging
- Prodcom 25992370 - Office articles such as letter clips, letter corners... of base metal
Country coverage:
- Hong Kong SAR
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Hong Kong SAR, China
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
