ASEAN: Base Metal Hook Market 2024

Base Metal Hook Market Size in ASEAN

The ASEAN base metal hook market stood at $X in 2022, approximately reflecting the previous year. The market value increased at an average annual rate of +4.0% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs in 2022 and is likely to continue growth in the near future.

Base Metal Hook Production in ASEAN

In value terms, base metal hook production totaled $X in 2022 estimated in export price. In general, production, however, recorded a perceptible shrinkage. The growth pace was the most rapid in 2014 with an increase of 31%. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Base Metal Hook Exports

Exports in ASEAN

Base metal hook exports expanded markedly to X tons in 2022, with an increase of 9% compared with the year before. In general, exports saw prominent growth. The pace of growth was the most pronounced in 2018 when exports increased by 59% against the previous year. The volume of export peaked in 2022 and is expected to retain growth in years to come.

In value terms, base metal hook exports rose rapidly to $X in 2022. Over the period under review, exports showed prominent growth. The pace of growth appeared the most rapid in 2018 when exports increased by 85% against the previous year. Over the period under review, the exports attained the maximum at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Vietnam was the main exporting country with an export of about X tons, which reached 62% of total exports. Thailand (X tons) took a 17% share (based on physical terms) of total exports, which put it in second place, followed by Malaysia (10%) and Singapore (5.4%). Indonesia (X tons) followed a long way behind the leaders.

Vietnam was also the fastest-growing in terms of the base metal hooks, eyes and eyelets exports, with a CAGR of +23.5% from 2012 to 2022. At the same time, Thailand (+13.2%) displayed positive paces of growth. Malaysia experienced a relatively flat trend pattern. By contrast, Singapore (-6.4%) and Indonesia (-9.7%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Vietnam and Thailand increased by +46 and +6 percentage points, respectively.

In value terms, Vietnam ($X) remains the largest base metal hook supplier in ASEAN, comprising 63% of total exports. The second position in the ranking was held by Thailand ($X), with a 19% share of total exports. It was followed by Indonesia, with a 5.6% share.

From 2012 to 2022, the average annual growth rate of value in Vietnam stood at +26.2%. The remaining exporting countries recorded the following average annual rates of exports growth: Thailand (+10.2% per year) and Indonesia (+1.2% per year).

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, flattening at the previous year. Export price indicated modest growth from 2012 to 2022: its price increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, base metal hook export price decreased by -28.3% against 2019 indices. The growth pace was the most rapid in 2018 when the export price increased by 16% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+12.1%), while the other leaders experienced mixed trends in the export price figures.

Base Metal Hook Imports

Imports in ASEAN

In 2022, approx. X tons of base metal hooks, eyes and eyelets were imported in ASEAN; declining by -3.9% against the previous year's figure. Total imports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of +5.5% 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 +23.0% against 2020 indices. The pace of growth appeared the most rapid in 2013 when imports increased by 34% against the previous year. Over the period under review, imports reached the maximum at X tons in 2021, and then reduced in the following year.

In value terms, base metal hook imports amounted to $X in 2022. In general, imports, however, enjoyed resilient growth. The growth pace was the most rapid in 2021 with an increase of 44%. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Imports by Country

Indonesia (X tons) and Vietnam (X tons) represented the main importers of base metal hooks, eyes and eyelets in 2022, amounting to near 32% and 26% of total imports, respectively. Cambodia (X tons) held the next position in the ranking, followed by Malaysia (X tons), Myanmar (X tons), Thailand (X tons) and the Philippines (X tons). All these countries together took near 41% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Myanmar (with a CAGR of +17.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), Indonesia ($X) and Cambodia ($X) were the countries with the highest levels of imports in 2022, together comprising 81% of total imports.

Cambodia, with a CAGR of +20.8%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per ton, surging by 5.5% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.8%. The pace of growth appeared the most rapid in 2014 an increase of 19% against the previous year. Over the period under review, import prices hit record highs in 2022 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Vietnam ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+21.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform