Finland: Metal Self-Locking Nut Market 2024

Metal Self-Locking Nut Market Size in Finland

The Finnish metal self-locking nut market surged to $X in 2021, picking up by 20% against the previous year. Over the period under review, the total consumption indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +4.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Metal self-locking nut consumption peaked in 2021 and is expected to retain growth in the immediate term.

Metal Self-Locking Nut Production in Finland

In value terms, metal self-locking nut production rose rapidly to $X in 2021 estimated in export price. In general, production, however, showed a abrupt decrease. Metal self-locking nut production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Metal Self-Locking Nut Exports

Exports from Finland

In 2021, the amount of iron or steel nuts (including self-locking nuts) exported from Finland reduced slightly to X tons, stabilizing at the previous year. In general, exports recorded a pronounced shrinkage. The pace of growth was the most pronounced in 2018 with an increase of 21%. The exports peaked at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, metal self-locking nut exports soared to $X in 2021. Over the period under review, exports continue to indicate a perceptible slump. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Sweden (X tons), the Netherlands (X tons) and Estonia (X tons) were the main destinations of metal self-locking nut exports from Finland, together accounting for 75% of total exports. These countries were followed by Russia, Latvia, Poland, Germany, France, Italy and Belgium, which together accounted for a further 15%.

From 2012 to 2021, the biggest increases were recorded for Poland (with a CAGR of +11.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Estonia ($X) and Sweden ($X) were the largest markets for metal self-locking nut exported from Finland worldwide, together accounting for 58% of total exports. Russia, Poland, Latvia, Germany, France, Italy and Belgium lagged somewhat behind, together accounting for a further 18%.

In terms of the main countries of destination, Poland, with a CAGR of +12.3%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average metal self-locking nut export price stood at $X per ton in 2021, picking up by 48% against the previous year. Overall, export price indicated modest growth from 2012 to 2021: its price increased at an average annual rate of +1.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to Sweden ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (+17.3%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Self-Locking Nut Imports

Imports into Finland

In 2021, the amount of iron or steel nuts (including self-locking nuts) imported into Finland rose notably to X tons, growing by 6.8% against the previous year. The total import volume increased at an average annual rate of +2.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2014 with an increase of 36% against the previous year. Over the period under review, imports attained the maximum in 2021 and are likely to see steady growth in the immediate term.

In value terms, metal self-locking nut imports soared to $X in 2021. In general, total imports indicated a moderate expansion from 2012 to 2021: its value increased at an average annual rate of +3.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 with an increase of 27%. Imports peaked in 2021 and are likely to continue growth in the near future.

Imports by Country

China (X tons), Germany (X tons) and Slovakia (X tons) were the main suppliers of metal self-locking nut imports to Finland, with a combined 72% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Slovakia (with a CAGR of +162.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of iron or steel nuts (including self-locking nuts) to Finland, comprising 35% of total imports. The second position in the ranking was held by China ($X), with a 16% share of total imports. It was followed by Sweden, with a 6.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany totaled +3.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-0.5% per year) and Sweden (+0.8% per year).

Import Prices by Country

In 2021, the average metal self-locking nut import price amounted to $X per ton, growing by 15% against the previous year. Over the last nine years, it increased at an average annual rate of +1.5%. The most prominent rate of growth was recorded in 2013 an increase of 19%. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Sweden ($X per ton), while the price for Slovakia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+7.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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