Belarus: Metal Rivet Market 2024

Metal Rivet Market Size in Belarus

In 2022, the Belarusian metal rivet market decreased by -36.1% to $X, falling for the second consecutive year after four years of growth. Over the period under review, consumption continues to indicate a deep contraction. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Metal Rivet Production in Belarus

In value terms, metal rivet production contracted modestly to $X in 2022 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the production volume increased by 25% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

Metal Rivet Exports

Exports from Belarus

In 2022, approx. X tons of iron or steel rivets were exported from Belarus; jumping by 84% on the year before. In general, exports saw a prominent increase. The pace of growth appeared the most rapid in 2014 when exports increased by 89%. The exports peaked in 2022 and are likely to see steady growth in years to come.

In value terms, metal rivet exports surged to $X in 2022. Over the period under review, exports showed a buoyant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Russia (X tons) was the main destination for metal rivet exports from Belarus, with a 72% share of total exports. Moreover, metal rivet exports to Russia exceeded the volume sent to the second major destination, Poland (X tons), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Russia totaled +3.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (+299.8% per year) and Lithuania (-28.8% per year).

In value terms, Russia ($X) remains the key foreign market for iron or steel rivets exports from Belarus, comprising 67% of total exports. The second position in the ranking was taken by Poland ($X), with a 22% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Russia totaled +7.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (+226.0% per year) and Lithuania (-18.0% per year).

Export Prices by Country

In 2022, the average metal rivet export price amounted to $X per ton, surging by 21% against the previous year. Overall, export price indicated a tangible increase from 2012 to 2022: its price increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, metal rivet export price increased by +59.6% against 2017 indices. The most prominent rate of growth was recorded in 2013 an increase of 76%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Lithuania ($X per ton), while the average price for exports to Poland ($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 Lithuania (+15.1%), while the prices for the other major destinations experienced mixed trend patterns.

Metal Rivet Imports

Imports into Belarus

In 2022, purchases abroad of iron or steel rivets was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by 44%. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, metal rivet imports reached $X in 2022. In general, imports, however, continue to indicate a noticeable shrinkage. The most prominent rate of growth was recorded in 2019 with an increase of 19% against the previous year. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 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 Belarus, with a 53% share of total imports. Moreover, metal rivet imports from Russia exceeded the figures recorded by the second-largest supplier, Turkey (X tons), fourfold. Italy (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from Russia totaled +5.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+41.3% per year) and Italy (+38.8% per year).

In value terms, Russia ($X), Germany ($X) and Italy ($X) were the largest metal rivet suppliers to Belarus, together comprising 84% of total imports.

Among the main suppliers, Italy, with a CAGR of +24.3%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average metal rivet import price amounted to $X per ton, falling by -4.8% against the previous year. Overall, the import price continues to indicate a perceptible reduction. The pace of growth appeared the most rapid in 2014 when the average import price increased by 14%. Over the period under review, average import prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ukraine (+3.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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