Azerbaijan: Metal Rivet Market 2024

Metal Rivet Market Size in Azerbaijan

The Azerbaijani metal rivet market stood at $X in 2022, surging by 6.8% against the previous year. The market value increased at an average annual rate of +2.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Metal Rivet Production in Azerbaijan

In value terms, metal rivet production expanded markedly to $X in 2022 estimated in export price. Over the period under review, the total production indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -6.9% against 2020 indices. The pace of growth appeared the most rapid in 2020 when the production volume increased by 38%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Metal Rivet Exports

Exports from Azerbaijan

After two years of decline, overseas shipments of iron or steel rivets decreased by -14.3% to X kg in 2022. Overall, exports recorded a deep contraction. The most prominent rate of growth was recorded in 2017 when exports increased by 100% against the previous year. As a result, the exports attained the peak of X kg. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, metal rivet exports reduced remarkably to $X in 2022. Over the period under review, exports, however, posted resilient growth. The most prominent rate of growth was recorded in 2017 when exports increased by 396% against the previous year. The exports peaked at $X in 2021, and then shrank dramatically in the following year.

Exports by Country

Norway (X kg) was the main destination for metal rivet exports from Azerbaijan, with a 50% share of total exports. Moreover, metal rivet exports to Norway exceeded the volume sent to the second major destination, the Netherlands (X kg), threefold. The UK (X kg) ranked third in terms of total exports with a 17% share.

From 2016 to 2022, the average annual growth rate of volume to Norway was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (0.0% per year) and the UK (0.0% per year).

In value terms, Norway ($X) remains the key foreign market for iron or steel rivets exports from Azerbaijan, comprising 87% of total exports. The second position in the ranking was taken by the UK ($X), with an 8.7% share of total exports. It was followed by Uzbekistan, with a 4% share.

From 2016 to 2022, the average annual growth rate of value to Norway amounted to -11.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+50.6% per year) and Uzbekistan (0.0% per year).

Export Prices by Country

The average metal rivet export price stood at $X per ton in 2022, shrinking by -34.1% against the previous year. Over the period under review, the export price, however, enjoyed a significant increase. The pace of growth appeared the most rapid in 2017 when the average export price increased by 148%. Over the period under review, the average export prices hit record highs at $X per ton in 2021, and then shrank markedly in the following year.

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

From 2016 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Iran (+963.6%), while the prices for the other major destinations experienced mixed trend patterns.

Metal Rivet Imports

Imports into Azerbaijan

In 2022, approx. X tons of iron or steel rivets were imported into Azerbaijan; shrinking by -30.5% compared with 2021 figures. In general, imports saw a abrupt decrease. The pace of growth appeared the most rapid in 2017 with an increase of 564%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, metal rivet imports declined markedly to $X in 2022. Over the period under review, imports showed a abrupt contraction. The growth pace was the most rapid in 2017 when imports increased by 962% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Russia (X tons) constituted the largest supplier of metal rivet to Azerbaijan, with a 56% share of total imports. Moreover, metal rivet imports from Russia exceeded the figures recorded by the second-largest supplier, Turkey (X tons), twofold. China (X tons) ranked third in terms of total imports with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Russia amounted to +3.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (-26.4% per year) and China (-6.2% per year).

In value terms, Russia ($X) constituted the largest supplier of iron or steel rivets to Azerbaijan, comprising 65% of total imports. The second position in the ranking was held by China ($X), with a 12% share of total imports. It was followed by the UK, with a 6.3% share.

From 2012 to 2022, the average annual growth rate of value from Russia totaled +14.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-5.0% per year) and the UK (-16.3% per year).

Import Prices by Country

In 2022, the average metal rivet import price amounted to $X per ton, picking up by 20% against the previous year. In general, the import price continues to indicate a remarkable increase. The most prominent rate of growth was recorded in 2014 when the average import price increased by 121% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the UK ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+10.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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