Bangladesh: Metal Rivet Market 2024

Metal Rivet Market Size in Bangladesh

The Bangladeshi metal rivet market reduced remarkably to $X in 2022, declining by -24.7% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, enjoyed prominent growth. Over the period under review, the market reached the peak level at $X in 2021, and then dropped sharply in the following year.

Metal Rivet Exports

Exports from Bangladesh

In 2022, shipments abroad of iron or steel rivets was finally on the rise to reach X kg after four years of decline. In general, exports posted significant growth. The most prominent rate of growth was recorded in 2015 with an increase of 1,988%. Over the period under review, the exports reached the peak figure at X kg in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, metal rivet exports skyrocketed to $X in 2022. Over the period under review, exports recorded a significant increase. The growth pace was the most rapid in 2015 with an increase of 2,412% against the previous year. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Pakistan (X kg) was the main destination for metal rivet exports from Bangladesh, with a 87% share of total exports. Moreover, metal rivet exports to Pakistan exceeded the volume sent to the second major destination, India (X kg), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to Pakistan stood at +44.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+8.4% per year) and Hong Kong SAR (0.0% per year).

In value terms, Pakistan ($X) remains the key foreign market for iron or steel rivets exports from Bangladesh, comprising 66% of total exports. The second position in the ranking was taken by India ($X), with a 28% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Pakistan totaled +79.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+46.5% per year) and Hong Kong SAR (+12.9% per year).

Export Prices by Country

The average metal rivet export price stood at $X per ton in 2022, with an increase of 49% against the previous year. Overall, the export price recorded a resilient increase. The pace of growth appeared the most rapid in 2016 when the average export price increased by 129% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to India (+35.1%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Rivet Imports

Imports into Bangladesh

Metal rivet imports into Bangladesh fell significantly to X tons in 2022, waning by -25.1% against the year before. Over the period under review, imports, however, continue to indicate buoyant growth. The pace of growth was the most pronounced in 2014 when imports increased by 160%. Over the period under review, imports reached the maximum at X tons in 2021, and then fell remarkably in the following year.

In value terms, metal rivet imports reduced markedly to $X in 2022. In general, imports, however, showed a remarkable increase. The most prominent rate of growth was recorded in 2014 with an increase of 280% against the previous year. Over the period under review, imports attained the peak figure at $X in 2016; however, from 2017 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest metal rivet supplier to Bangladesh, accounting for a 86% share of total imports. Moreover, metal rivet imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), more than tenfold. Taiwan (Chinese) (X tons) ranked third in terms of total imports with a 4.3% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +24.6%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+13.5% per year) and Taiwan (Chinese) (+19.3% per year).

In value terms, China ($X) constituted the largest supplier of iron or steel rivets to Bangladesh, comprising 68% of total imports. The second position in the ranking was held by Hong Kong SAR ($X), with a 22% share of total imports. It was followed by Taiwan (Chinese), with a 3.9% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to +25.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (-4.0% per year) and Taiwan (Chinese) (+16.2% per year).

Import Prices by Country

The average metal rivet import price stood at $X per ton in 2022, rising by 1.7% against the previous year. Over the period under review, the import price, however, continues to indicate a abrupt decline. The most prominent rate of growth was recorded in 2016 when the average import price increased by 86% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

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 Hong Kong SAR ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+0.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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