Eastern Asia: Hand Tools Market 2025

Hand Tools Market Size in Eastern Asia

In 2021, the East Asian hand tools market decreased by -8.5% to $X, falling for the second year in a row after two years of growth. Overall, consumption, however, enjoyed notable growth. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Hand Tools Production in Eastern Asia

In value terms, hand tools production expanded slightly to $X in 2021 estimated in export price. The total production indicated measured growth from 2012 to 2021: its value increased at an average annual rate of +4.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -1.5% against 2019 indices. The pace of growth appeared the most rapid in 2018 with an increase of 25% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Hand Tools Exports

Exports in Eastern Asia

For the third consecutive year, Eastern Asia recorded growth in shipments abroad of hand tools, which increased by 22% to X tons in 2021. Over the period under review, exports saw a moderate increase. The pace of growth was the most pronounced in 2017 when exports increased by 193%. The volume of export peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, hand tools exports surged to $X in 2021. Total exports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +7.2% 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 +68.5% against 2016 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, China (X tons) represented the key exporter of hand tools, comprising 87% of total exports. It was distantly followed by Taiwan (Chinese) (X tons), committing a 12% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to hand tools exports from China stood at +4.9%. At the same time, Taiwan (Chinese) (+5.0%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +5.0% from 2012-2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest hand tools supplier in Eastern Asia, comprising 74% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 20% share of total exports.

In China, hand tools exports expanded at an average annual rate of +8.6% over the period from 2012-2021.

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2021, with an increase of 12% against the previous year. Over the period under review, the export price posted a pronounced expansion. The most prominent rate of growth was recorded in 2016 when the export price increased by 155%. As a result, the export price attained the peak level of $X per ton. From 2017 to 2021, the export prices remained at a 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 stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+3.5%).

Hand Tools Imports

Imports in Eastern Asia

Hand tools imports surged to X tons in 2021, with an increase of 29% compared with 2020. The total import volume increased at an average annual rate of +2.4% over the period 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.

In value terms, hand tools imports surged to $X in 2021. The total import value increased at an average annual rate of +2.0% from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. 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), Japan (X tons), South Korea (X tons) and Taiwan (Chinese) (X tons) was the main importer of hand tools in Eastern Asia, mixing up 97% of total import. Hong Kong SAR (X tons) took a relatively small share of total imports.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +6.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Japan ($X) and South Korea ($X) appeared to be the countries with the highest levels of imports in 2021, together comprising 83% of total imports. These countries were followed by Taiwan (Chinese) and Hong Kong SAR, which together accounted for a further 17%.

Taiwan (Chinese), with a CAGR of +6.2%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2021, declining by -6% against the previous year. In general, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of 8.7%. Over the period under review, import prices reached the maximum at $X per ton in 2016; however, from 2017 to 2021, import prices stood at a somewhat lower figure.

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 (+3.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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