Eastern Asia: Base Metal Hinge Market 2024

Base Metal Hinge Market Size in Eastern Asia

After six years of growth, the East Asian base metal hinge market decreased by -13.1% to $X in 2021. Overall, consumption, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the market value increased by 6.1% against the previous year. The level of consumption peaked at $X in 2020, and then dropped in the following year.

Base Metal Hinge Production in Eastern Asia

In value terms, base metal hinge production dropped modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.6% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The pace of growth appeared the most rapid in 2013 when the production volume increased by 9.6% against the previous year. The level of production peaked at $X in 2020, and then contracted modestly in the following year.

Base Metal Hinge Exports

Exports in Eastern Asia

In 2021, base metal hinge exports in Eastern Asia soared to X tons, rising by 24% against the previous year's figure. Total exports indicated a buoyant increase from 2012 to 2021: its volume increased at an average annual rate of +5.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +88.3% against 2016 indices. The pace of growth was the most pronounced in 2017 with an increase of 39%. The volume of export peaked in 2021 and is expected to retain growth in the near future.

In value terms, base metal hinge exports surged to $X in 2021. Total exports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +9.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +71.9% against 2016 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China prevails in exports structure, accounting for X tons, which was near 93% of total exports in 2021. South Korea (X tons) and Taiwan (Chinese) (X tons) held a little share of total exports.

China was also the fastest-growing in terms of the base metal hinges exports, with a CAGR of +5.6% from 2012 to 2021. At the same time, South Korea (+1.8%) and Taiwan (Chinese) (+1.7%) displayed positive paces of growth. While the share of China (+4.3 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest base metal hinge supplier in Eastern Asia, comprising 88% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 4.7% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in China stood at +10.8%. The remaining exporting countries recorded the following average annual rates of exports growth: Taiwan (Chinese) (+6.1% per year) and South Korea (+1.0% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2021, with an increase of 7% against the previous year. Over the last nine-year period, it increased at an average annual rate of +3.9%. The pace of growth appeared the most rapid in 2013 when the export price increased by 13%. Over the period under review, the export prices reached the peak figure at $X per ton in 2016; however, from 2017 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+4.9%), while the other leaders experienced mixed trends in the export price figures.

Base Metal Hinge Imports

Imports in Eastern Asia

In 2021, overseas purchases of base metal hinges were finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +5.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable 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, base metal hinge imports soared to $X in 2021. Total imports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +6.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +62.6% against 2014 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) represented the main importer of base metal hinges, constituting 52% of total imports. South Korea (X tons) took the second position in the ranking, distantly followed by Japan (X tons) and Taiwan (Chinese) (X tons). All these countries together held approx. 45% share of total imports. Hong Kong SAR (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by China (with a CAGR of +8.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constitutes the largest market for imported base metal hinges in Eastern Asia, comprising 62% of total imports. The second position in the ranking was held by South Korea ($X), with an 18% share of total imports. It was followed by Japan, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China stood at +9.9%. In the other countries, the average annual rates were as follows: South Korea (+11.8% per year) and Japan (-1.5% per year).

Import Prices by Country

In 2021, the import price in Eastern Asia amounted to $X per ton, surging by 4.5% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.6%. The most prominent rate of growth was recorded in 2017 an increase of 11%. Over the period under review, import prices hit record highs in 2021 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+5.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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