Asia: Screwdriver Market 2024

Screwdriver Market Size in Asia

In 2021, the Asian screwdriver market decreased by -2.1% to $X, falling for the second consecutive year after two years of growth. Over the period under review, consumption saw a noticeable setback. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Screwdriver Production in Asia

In value terms, screwdriver production rose rapidly to $X in 2021 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 11%. The level of production peaked at $X in 2019; afterwards, it flattened through to 2021.

Screwdriver Exports

Exports in Asia

In 2021, shipments abroad of screwdrivers was finally on the rise to reach X tons after two years of decline. Total exports indicated slight growth from 2012 to 2021: its volume increased at an average annual rate of +1.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 with an increase of 158%. The volume of export peaked in 2021 and is likely to see gradual growth in years to come.

In value terms, screwdriver exports surged to $X in 2021. The total export value increased at an average annual rate of +5.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China prevails in exports structure, resulting at X tons, which was near 88% of total exports in 2021. It was distantly followed by Taiwan (Chinese) (X tons), constituting a 9% share of total exports.

China experienced a relatively flat trend pattern with regard to volume of exports of screwdrivers. At the same time, Taiwan (Chinese) (+3.1%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing exporter exported in Asia, with a CAGR of +3.1% from 2012-2021. While the share of Taiwan (Chinese) (+1.5 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of China (-1.9 p.p.) displayed negative dynamics.

In value terms, China ($X) remains the largest screwdriver supplier in Asia, comprising 76% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with an 18% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in China totaled +4.7%.

Export Prices by Country

The export price in Asia stood at $X per ton in 2021, picking up by 5.6% against the previous year. Overall, the export price posted notable growth. The pace of growth was the most pronounced in 2016 when the export price increased by 135% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2017 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: 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 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+4.0%).

Screwdriver Imports

Imports in Asia

For the third consecutive year, Asia recorded growth in supplies from abroad of screwdrivers, which increased by 16% to X tons in 2021. The total import volume increased at an average annual rate of +2.5% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, screwdriver imports expanded markedly to $X in 2021. The total import value increased at an average annual rate of +3.9% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2017 with an increase of 15%. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, Malaysia (X tons), distantly followed by Indonesia (X tons), India (X tons), the United Arab Emirates (X tons), Japan (X tons), Iraq (X tons) and Thailand (X tons) were the largest importers of screwdrivers, together committing 62% of total imports. China (X tons), Taiwan (Chinese) (X tons), South Korea (X tons), Saudi Arabia (X tons), Pakistan (X tons) and Vietnam (X tons) held a relatively small share of total imports.

From 2012 to 2021, the biggest increases were recorded for Malaysia (with a CAGR of +23.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), China ($X) and Malaysia ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 29% share of total imports.

Malaysia, with a CAGR of +17.6%, recorded the highest rates of growth with regard to 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 2021, the import price in Asia amounted to $X per ton, which is down by -2.2% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.3%. The growth pace was the most rapid in 2018 when the import price increased by 9.3% against the previous year. The level of import peaked at $X per ton in 2020, and then reduced slightly in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was China ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+7.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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