Finland: Market for Hand-Operated Drilling, Threading or Tapping Tools 2024

Market Size for Hand-Operated Drilling, Threading or Tapping Tools in Finland

The Finnish market for hand-operated drilling, threading or tapping tools dropped to $X in 2022, declining by -14.7% against the previous year. Overall, the total consumption indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +26.3% against 2020 indices. As a result, consumption attained the peak level of $X, and then fell in the following year.

Production of Hand-Operated Drilling, Threading or Tapping Tools in Finland

In value terms, production of hand-operated drilling, threading or tapping tools stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2015 with an increase of 4.1% against the previous year. Production of peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Exports of Hand-Operated Drilling, Threading or Tapping Tools

Exports from Finland

In 2022, overseas shipments of hand-operated drilling, threading or tapping tools increased by 10% to X tons for the first time since 2017, thus ending a four-year declining trend. In general, exports, however, continue to indicate a deep slump. The most prominent rate of growth was recorded in 2013 with an increase of 153% against the previous year. Over the period under review, the exports of attained the peak figure at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of hand-operated drilling, threading or tapping tools surged to $X in 2022. Over the period under review, exports, however, continue to indicate a abrupt slump. The most prominent rate of growth was recorded in 2013 when exports increased by 182%. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Chile (X tons) was the main destination for exports of hand-operated drilling, threading or tapping tools from Finland, accounting for a 39% share of total exports. Moreover, exports of hand-operated drilling, threading or tapping tools to Chile exceeded the volume sent to the second major destination, Canada (X kg), threefold. Norway (X kg) ranked third in terms of total exports with a 14% share.

From 2012 to 2022, the average annual growth rate of volume to Chile totaled +65.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (-15.8% per year) and Norway (-15.4% per year).

In value terms, Chile ($X) emerged as the key foreign market for hand-operated drilling, threading or tapping tools exports from Finland, comprising 64% of total exports. The second position in the ranking was taken by Sweden ($X), with an 8.9% share of total exports. It was followed by Estonia, with a 6.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Chile amounted to +34.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (+5.1% per year) and Estonia (+2.1% per year).

Export Prices by Country

In 2022, the average export price for hand-operated drilling, threading or tapping tools amounted to $X per ton, picking up by 31% against the previous year. Over the period under review, export price indicated buoyant growth from 2012 to 2022: its price increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for hand-operated drilling, threading or tapping tools increased by +36.6% against 2020 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Chile ($X per ton), while the average price for exports to Canada ($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 Uruguay (+14.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Hand-Operated Drilling, Threading or Tapping Tools

Imports into Finland

In 2022, approx. X tons of hand-operated drilling, threading or tapping tools were imported into Finland; waning by -26.1% on the year before. Overall, imports saw a drastic downturn. The pace of growth was the most pronounced in 2021 when imports increased by 148% against the previous year. Over the period under review, imports of hit record highs at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, imports of hand-operated drilling, threading or tapping tools shrank to $X in 2022. In general, imports continue to indicate a abrupt contraction. The pace of growth appeared the most rapid in 2021 with an increase of 68% against the previous year. Over the period under review, imports of hit record highs at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest hand-operated drilling, threading or tapping tool supplier to Finland, with a 39% share of total imports. Moreover, imports of hand-operated drilling, threading or tapping tools from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), threefold. Estonia (X tons) ranked third in terms of total imports with a 14% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +4.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+2.9% per year) and Estonia (+75.3% per year).

In value terms, the largest hand-operated drilling, threading or tapping tool suppliers to Finland were Germany ($X), China ($X) and Sweden ($X), with a combined 61% share of total imports. Estonia, the United States, Taiwan (Chinese) and Russia lagged somewhat behind, together accounting for a further 20%.

In terms of the main suppliers, Estonia, with a CAGR of +74.5%, 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

The average import price for hand-operated drilling, threading or tapping tools stood at $X per ton in 2022, increasing by 15% against the previous year. Over the last decade, it increased at an average annual rate of +2.0%. The most prominent rate of growth was recorded in 2020 an increase of 21% against the previous year. As a result, import price reached the peak level of $X per ton. From 2021 to 2022, the average import prices remained at a somewhat 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 the United States ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+3.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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