Asia: Nails And Tacks Market 2024

Nails And Tacks Market Size in Asia

The Asian nails and tacks market fell modestly to $X in 2022, declining by -2.8% against the previous year. The market value increased at an average annual rate of +1.7% over the period 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 at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Nails And Tacks Production in Asia

In value terms, nails and tacks production shrank to $X in 2022 estimated in export price. The total production indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +9.2% against 2020 indices. The most prominent rate of growth was recorded in 2018 with an increase of 22% against the previous year. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Nails And Tacks Exports

Exports in Asia

In 2022, the amount of nails, tacks, drawing pins, corrugated nails, staples exported in Asia fell to X tons, which is down by -6.2% on 2021 figures. Overall, exports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 28%. As a result, the exports reached the peak of X tons, and then reduced in the following year.

In value terms, nails and tacks exports rose notably to $X in 2022. The total export value increased at an average annual rate of +2.3% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when exports increased by 22% against the previous year. The level of export peaked in 2022 and is likely to see gradual growth in years to come.

Exports by Country

China prevails in exports structure, accounting for X tons, which was near 86% of total exports in 2022. Thailand (X tons), South Korea (X tons), Taiwan (Chinese) (X tons) and India (X tons) followed a long way behind the leaders.

China experienced a relatively flat trend pattern with regard to volume of exports of nails, tacks, drawing pins, corrugated nails, staples. At the same time, Thailand (+20.6%), South Korea (+12.4%) and Taiwan (Chinese) (+2.7%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in Asia, with a CAGR of +20.6% from 2012-2022. India experienced a relatively flat trend pattern. Thailand (+3.2 p.p.) and South Korea (+1.7 p.p.) significantly strengthened its position in terms of the total exports, while China saw its share reduced by -2.3% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest nails and tacks supplier in Asia, comprising 88% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 1.9% share of total exports. It was followed by Thailand, with a 1.8% share.

In China, nails and tacks exports increased at an average annual rate of +3.1% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Taiwan (Chinese) (+0.6% per year) and Thailand (+13.6% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, rising by 18% against the previous year. Over the last decade, it increased at an average annual rate of +2.0%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was China ($X per ton), while Thailand ($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 (+3.1%), while the other leaders experienced mixed trends in the export price figures.

Nails And Tacks Imports

Imports in Asia

In 2022, purchases abroad of nails, tacks, drawing pins, corrugated nails, staples increased by 5% to X tons, rising for the second year in a row after three years of decline. Overall, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by 11% against the previous year. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, nails and tacks imports expanded remarkably to $X in 2022. In general, imports, however, recorded a slight reduction. The most prominent rate of growth was recorded in 2017 when imports increased by 11% against the previous year. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Indonesia (X tons) and Thailand (X tons) represented the major importers of nails, tacks, drawing pins, corrugated nails, staples in Asia, together creating 35% of total imports. It was distantly followed by Vietnam (X tons), Japan (X tons), Malaysia (X tons), India (X tons), South Korea (X tons), Taiwan (Chinese) (X tons) and Turkey (X tons), together making up a 40% share of total imports. The following importers - Hong Kong SAR (X tons), the Philippines (X tons), the United Arab Emirates (X tons) and Singapore (X tons) - together made up 11% of total imports.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +21.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest nails and tacks importing markets in Asia were Indonesia ($X), Thailand ($X) and Japan ($X), with a combined 38% share of total imports. Vietnam, Malaysia, South Korea, Turkey, Taiwan (Chinese), Hong Kong SAR, Singapore, the United Arab Emirates, India and the Philippines lagged somewhat behind, together accounting for a further 46%.

Among the main importing countries, Vietnam, with a CAGR of +9.8%, saw the highest rates of growth with regard to 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 Asia amounted to $X per ton, rising by 2% against the previous year. In general, the import price, however, showed a mild decrease. The pace of growth was the most pronounced in 2018 an increase of 6.5%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Singapore ($X per ton), while India ($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 (+8.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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