Asia-Pacific: Metal Castor Mounting Market 2024

Metal Castor Mounting Market Size in Asia-Pacific

The Asia-Pacific metal castor mounting market rose rapidly to $X in 2022, with an increase of 8.3% against the previous year. In general, consumption, however, continues to indicate a relatively flat trend pattern. The level of consumption peaked at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Metal Castor Mounting Production in Asia-Pacific

In value terms, metal castor mounting production expanded to $X in 2022 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the production volume increased by 18%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Metal Castor Mounting Exports

Exports in Asia-Pacific

In 2022, overseas shipments of castors with mountings of base metal decreased by -12.6% to X tons for the first time since 2016, thus ending a five-year rising trend. Total exports indicated a temperate expansion from 2012 to 2022: its volume increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +60.5% against 2016 indices. The pace of growth was the most pronounced in 2021 when exports increased by 25%. As a result, the exports attained the peak of X tons, and then fell in the following year.

In value terms, metal castor mounting exports dropped to $X in 2022. Overall, exports, however, saw resilient growth. The pace of growth was the most pronounced in 2021 when exports increased by 35%. As a result, the exports reached the peak of $X, leveling off in the following year.

Exports by Country

China dominates exports structure, accounting for X tons, which was near 85% of total exports in 2022. It was distantly followed by Taiwan (Chinese) (X tons), committing a 9.3% share of total exports.

China was also the fastest-growing in terms of the castors with mountings of base metal exports, with a CAGR of +5.5% from 2012 to 2022. At the same time, Taiwan (Chinese) (+2.3%) displayed positive paces of growth. China (+9.1 p.p.) significantly strengthened its position in terms of the total exports, while Taiwan (Chinese) saw its share reduced by -2% from 2012 to 2022, respectively.

In value terms, China ($X) remains the largest metal castor mounting supplier in Asia-Pacific, comprising 83% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 9.1% share of total exports.

In China, metal castor mounting exports increased at an average annual rate of +11.0% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per ton, surging by 13% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.0%. The most prominent rate of growth was recorded in 2013 an increase of 14% against the previous year. The level of export peaked in 2022 and is likely to see steady growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per ton), while China stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+5.2%).

Metal Castor Mounting Imports

Imports in Asia-Pacific

In 2022, the amount of castors with mountings of base metal imported in Asia-Pacific reached X tons, almost unchanged from 2021. Total imports indicated a prominent expansion from 2012 to 2022: its volume increased at an average annual rate of +5.0% 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 +18.4% against 2017 indices. The pace of growth was the most pronounced in 2021 when imports increased by 21%. The volume of import peaked in 2022 and is expected to retain growth in the near future.

In value terms, metal castor mounting imports rose to $X in 2022. Total imports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +5.9% 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 +86.8% against 2013 indices. The pace of growth was the most pronounced in 2021 with an increase of 28% against the previous year. The level of import peaked in 2022 and is likely to see gradual growth in the near future.

Imports by Country

In 2022, Indonesia (X tons), distantly followed by Thailand (X tons), Vietnam (X tons), South Korea (X tons), Japan (X tons), Malaysia (X tons) and China (X tons) were the main importers of castors with mountings of base metal, together constituting 76% of total imports. The following importers - India (X tons), Cambodia (X tons), the Philippines (X tons), Bangladesh (X tons), Australia (X tons) and Taiwan (Chinese) (X tons) - together made up 18% 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 Cambodia (with a CAGR of +39.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest metal castor mounting importing markets in Asia-Pacific were Vietnam ($X), Indonesia ($X) and Japan ($X), together accounting for 42% of total imports. Thailand, China, South Korea, Malaysia, Australia, India, Taiwan (Chinese), Bangladesh, Cambodia and the Philippines lagged somewhat behind, together comprising a further 51%.

In terms of the main importing countries, Cambodia, with a CAGR of +47.9%, saw 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 Asia-Pacific amounted to $X per ton, increasing by 2% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 7.2%. Over the period under review, import prices reached the maximum in 2022 and is expected to retain 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 China ($X per ton), while Indonesia ($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 (+9.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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