Asia-Pacific: Nails And Tacks Market 2024

Nails And Tacks Market Size in Asia-Pacific

The Asia-Pacific nails and tacks market reduced to $X in 2022, stabilizing at the previous year. In general, consumption recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market remained at a lower figure.

Nails And Tacks Production in Asia-Pacific

In value terms, nails and tacks production declined modestly to $X in 2022 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of 17%. As a result, production attained the peak level of $X. From 2017 to 2022, production growth remained at a lower figure.

Nails And Tacks Exports

Exports in Asia-Pacific

In 2022, the amount of nails, tacks, drawing pins, corrugated nails, staples exported in Asia-Pacific reduced to X tons, falling by -6.1% compared with 2021. In general, exports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when exports increased by 27% against the previous year. As a result, the exports attained the peak of X tons, and then contracted in the following year.

In value terms, nails and tacks exports rose sharply to $X in 2022. The total export value increased at an average annual rate of +2.3% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by 22%. 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 dominates exports structure, amounting to X tons, which was near 87% of total exports in 2022. Thailand (X tons), South Korea (X tons), Taiwan (Chinese) (X tons) and India (X tons) held a minor share of total exports.

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-Pacific, with a CAGR of +20.6% from 2012-2022. India experienced a relatively flat trend pattern. While the share of Thailand (+3.2 p.p.) and South Korea (+1.8 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of China (-1.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2012 to 2022, the average annual growth rate of value in China stood at +3.1%. In the other countries, the average annual rates were as follows: Taiwan (Chinese) (+0.6% per year) and Thailand (+13.6% per year).

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per ton, jumping by 18% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.1%. 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-Pacific

In 2022, overseas purchases of nails, tacks, drawing pins, corrugated nails, staples increased by 4.7% to X tons, rising for the second year in a row after three years of decline. Over the period under review, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 12%. Over the period under review, imports reached the maximum at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, nails and tacks imports expanded significantly to $X in 2022. In general, imports, however, continue to indicate a mild setback. The pace of growth appeared the most rapid in 2017 with an increase of 11% against the previous year. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Indonesia (X tons) and Thailand (X tons) represented roughly 39% of total imports in 2022. 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 Hong Kong SAR (X tons), together constituting a 45% share of total imports. Australia (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 main importing countries, was attained by India (with a CAGR of +21.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Thailand ($X) and Japan ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for 42% of total imports. Vietnam, Malaysia, South Korea, Taiwan (Chinese), Hong Kong SAR, Australia and India lagged somewhat behind, together accounting for a further 40%.

Vietnam, with a CAGR of +9.8%, recorded the highest growth rate of the value of imports, in terms of 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 Asia-Pacific amounted to $X per ton, growing by 1.6% against the previous year. Overall, the import price, however, saw a slight descent. The pace of growth was the most pronounced in 2019 an increase of 8% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+1.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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