Australia: Metal Self-Locking Nut Market 2024

Metal Self-Locking Nut Market Size in Australia

In 2021, the Australian metal self-locking nut market increased by 20% to $X for the first time since 2018, thus ending a two-year declining trend. In general, consumption continues to indicate a pronounced contraction. Over the period under review, the market reached the peak level at $X in 2015; however, from 2016 to 2021, consumption stood at a somewhat lower figure.

Metal Self-Locking Nut Exports

Exports from Australia

After three years of decline, overseas shipments of iron or steel nuts (including self-locking nuts) increased by 43% to X tons in 2021. Over the period under review, exports posted a resilient expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 134%. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, metal self-locking nut exports skyrocketed to $X in 2021. Overall, exports enjoyed a prominent increase. The pace of growth was the most pronounced in 2017 when exports increased by 89%. The exports peaked in 2021 and are likely to see gradual growth in years to come.

Exports by Country

China (X tons) was the main destination for metal self-locking nut exports from Australia, accounting for a 35% share of total exports. Moreover, metal self-locking nut exports to China exceeded the volume sent to the second major destination, New Zealand (X tons), threefold. The third position in this ranking was held by the United States (X tons), with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to China amounted to +34.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: New Zealand (+11.9% per year) and the United States (+2.6% per year).

In value terms, China ($X) remains the key foreign market for iron or steel nuts (including self-locking nuts) exports from Australia, comprising 43% of total exports. The second position in the ranking was held by New Zealand ($X), with a 12% share of total exports. It was followed by the United States, with a 9.3% share.

From 2012 to 2021, the average annual growth rate of value to China amounted to +29.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: New Zealand (+5.3% per year) and the United States (+6.1% per year).

Export Prices by Country

The average metal self-locking nut export price stood at $X per ton in 2021, with an increase of 3.9% against the previous year. Over the period under review, the export price, however, saw a pronounced contraction. The most prominent rate of growth was recorded in 2018 when the average export price increased by 21%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+17.4%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Self-Locking Nut Imports

Imports into Australia

In 2021, purchases abroad of iron or steel nuts (including self-locking nuts) was finally on the rise to reach X tons after three years of decline. In general, imports, however, recorded a drastic downturn. The pace of growth appeared the most rapid in 2015 with an increase of 34% against the previous year. As a result, imports attained the peak of X tons. From 2016 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, metal self-locking nut imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +2.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest metal self-locking nut supplier to Australia, with a 39% share of total imports. Moreover, metal self-locking nut imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), twofold. The United States (X tons) ranked third in terms of total imports with a 17% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at -11.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-3.4% per year) and the United States (+13.2% per year).

In value terms, China ($X) constituted the largest supplier of iron or steel nuts (including self-locking nuts) to Australia, comprising 39% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with an 18% share of total imports. It was followed by the United States, with a 17% share.

From 2012 to 2021, the average annual growth rate of value from China stood at +5.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+4.7% per year) and the United States (-0.3% per year).

Import Prices by Country

In 2021, the average metal self-locking nut import price amounted to $X per ton, rising by 29% against the previous year. In general, the import price continues to indicate buoyant growth. The most prominent rate of growth was recorded in 2018 when the average import price increased by 46%. Over the period under review, average import prices attained the maximum in 2021 and is expected to retain growth in the near future.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from India ($X per ton) and the United States ($X per ton), while the price for Taiwan (Chinese) ($X per ton) and the UK ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+19.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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