ASEAN: Metal Rivet Market 2024

Metal Rivet Market Size in ASEAN

The ASEAN metal rivet market soared to $X in 2022, rising by 17% against the previous year. The market value increased at an average annual rate of +5.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Metal Rivet Production in ASEAN

In value terms, metal rivet production totaled $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.5% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2014 when the production volume increased by 20%. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Metal Rivet Exports

Exports in ASEAN

In 2022, the amount of iron or steel rivets exported in ASEAN fell to X tons, which is down by -7.6% against the previous year's figure. Over the period under review, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when exports increased by 39%. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, metal rivet exports contracted remarkably to $X in 2022. In general, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 38% against the previous year. As a result, the exports reached the peak of $X, and then contracted significantly in the following year.

Exports by Country

In 2022, Thailand (X tons) and Malaysia (X tons) represented the main exporters of iron or steel rivets in ASEAN, together achieving 79% of total exports. Singapore (X tons) held a 12% share (based on physical terms) of total exports, which put it in second place, followed by Vietnam (7.2%).

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Vietnam (with a CAGR of +12.6%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Singapore ($X), Thailand ($X) and Malaysia ($X) constituted the countries with the highest levels of exports in 2022, with a combined 94% share of total exports.

Thailand, with a CAGR of +7.7%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2022, declining by -10% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.4%. The growth pace was the most rapid in 2016 an increase of 22% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2018; however, from 2019 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 Singapore ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+4.5%), while the other leaders experienced mixed trends in the export price figures.

Metal Rivet Imports

Imports in ASEAN

In 2022, the amount of iron or steel rivets imported in ASEAN skyrocketed to X tons, jumping by 23% on 2021 figures. Total imports indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of +7.9% 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 +48.4% against 2020 indices. The most prominent rate of growth was recorded in 2016 with an increase of 29% against the previous year. The volume of import peaked in 2022 and is expected to retain growth in years to come.

In value terms, metal rivet imports declined to $X in 2022. In general, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 39% against the previous year. As a result, imports attained the peak of $X, and then dropped in the following year.

Imports by Country

In 2022, Singapore (X tons), the Philippines (X tons), Thailand (X tons), Malaysia (X tons) and Vietnam (X tons) represented the major importer of iron or steel rivets in ASEAN, creating 93% of total import. Indonesia (X tons) and Myanmar (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Myanmar (with a CAGR of +30.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), Vietnam ($X) and Malaysia ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for 70% of total imports. The Philippines, Indonesia, Singapore and Myanmar lagged somewhat behind, together accounting for a further 27%.

Among the main importing countries, the Philippines, with a CAGR of +18.4%, 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

In 2022, the import price in ASEAN amounted to $X per ton, declining by -26% against the previous year. In general, the import price continues to indicate a deep setback. The pace of growth was the most pronounced in 2021 an increase of 15%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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 Indonesia ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+1.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform