Asia-Pacific: Base Metal Keys Market 2024

Base Metal Keys Market Size in Asia-Pacific

The Asia-Pacific base metal keys market dropped slightly to $X in 2022, which is down by -3.1% against the previous year. The market value increased at an average annual rate of +1.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Base Metal Keys Production in Asia-Pacific

In value terms, base metal keys production reduced modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when the production volume increased by 17%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Base Metal Keys Exports

Exports in Asia-Pacific

Base metal keys exports was estimated at X tons in 2022, picking up by 13% compared with the year before. The total export volume increased at an average annual rate of +1.1% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The growth pace was the most rapid in 2021 when exports increased by 25% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the near future.

In value terms, base metal keys exports rose remarkably to $X in 2022. The total export value increased at an average annual rate of +3.4% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when exports increased by 32%. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the near future.

Exports by Country

China prevails in exports structure, accounting for X tons, which was approx. 83% of total exports in 2022. It was distantly followed by Taiwan (Chinese) (X tons), constituting a 5% share of total exports. The following exporters - Japan (X tons), Hong Kong SAR (X tons), India (X tons) and South Korea (X tons) - together made up 9.9% of total exports.

Exports from China increased at an average annual rate of +2.4% from 2012 to 2022. At the same time, India (+9.0%) and South Korea (+4.9%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +9.0% from 2012-2022. By contrast, Taiwan (Chinese) (-5.2%), Japan (-5.6%) and Hong Kong SAR (-6.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China increased by +9.9 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest base metal keys supplier in Asia-Pacific, comprising 59% of total exports. The second position in the ranking was taken by Japan ($X), with an 11% share of total exports. It was followed by Taiwan (Chinese), with a 9% share.

In China, base metal keys exports increased at an average annual rate of +8.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Japan (-5.7% per year) and Taiwan (Chinese) (-0.9% per year).

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per ton, flattening at the previous year. Over the last decade, it increased at an average annual rate of +2.2%. The pace of growth was the most pronounced in 2017 when the export price increased by 12%. The level of export peaked at $X per ton in 2021, and then fell slightly in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was South Korea ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+6.9%), while the other leaders experienced more modest paces of growth.

Base Metal Keys Imports

Imports in Asia-Pacific

In 2022, overseas purchases of base metal keys increased by 28% to X tons, rising for the second year in a row after three years of decline. Over the period under review, imports, however, showed a relatively flat trend pattern. The volume of import peaked at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, base metal keys imports amounted to $X in 2022. In general, imports, however, recorded a mild slump. The most prominent rate of growth was recorded in 2021 with an increase of 15% against the previous year. Over the period under review, imports attained the peak figure at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

India was the main importer of base metal keys in Asia-Pacific, with the volume of imports resulting at X tons, which was near 34% of total imports in 2022. Indonesia (X tons) took a 7.6% share (based on physical terms) of total imports, which put it in second place, followed by Australia (6.2%), China (6.2%), Bangladesh (5.9%), Japan (5.5%), Thailand (5.2%), Malaysia (4.6%) and South Korea (4.6%). Hong Kong SAR (X tons) followed a long way behind the leaders.

Imports into India increased at an average annual rate of +5.1% from 2012 to 2022. At the same time, Bangladesh (+45.0%), Malaysia (+4.7%) and Thailand (+1.4%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +45.0% from 2012-2022. Japan experienced a relatively flat trend pattern. By contrast, China (-3.3%), Hong Kong SAR (-4.4%), South Korea (-4.7%), Indonesia (-4.9%) and Australia (-7.3%) illustrated a downward trend over the same period. While the share of India (+15 p.p.), Bangladesh (+5.8 p.p.) and Malaysia (+1.9 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Hong Kong SAR (-1.8 p.p.), China (-2 p.p.), South Korea (-2.4 p.p.), Indonesia (-4.2 p.p.) and Australia (-6.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X), China ($X) and Australia ($X) constituted the countries with the highest levels of imports in 2022, together comprising 48% of total imports. Japan, Thailand, South Korea, Indonesia, Hong Kong SAR, Malaysia and Bangladesh lagged somewhat behind, together comprising a further 35%.

Bangladesh, with a CAGR of +41.7%, 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

The import price in Asia-Pacific stood at $X per ton in 2022, dropping by -18.9% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when the import price increased by 30% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per ton), while Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+6.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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