Indonesia: Metal Castor Mounting Market 2024

Metal Castor Mounting Market Size in Indonesia

In 2022, the Indonesian metal castor mounting market increased by 56% to $X, rising for the second year in a row after two years of decline. Over the period under review, consumption showed a buoyant increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Metal Castor Mounting Exports

Exports from Indonesia

In 2022, overseas shipments of castors with mountings of base metal increased by 72% to X tons, rising for the second year in a row after two years of decline. In general, exports, however, recorded a pronounced decline. The growth pace was the most rapid in 2021 when exports increased by 103% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, metal castor mounting exports surged to $X in 2022. Over the period under review, exports, however, saw a noticeable descent. The growth pace was the most rapid in 2014 when exports increased by 103%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Vietnam (X tons), Pakistan (X tons) and Malaysia (X tons) were the main destinations of metal castor mounting exports from Indonesia, with a combined 61% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Pakistan (with a CAGR of +88.2%), while the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X) remains the key foreign market for castors with mountings of base metal exports from Indonesia, comprising 34% of total exports. The second position in the ranking was held by Singapore ($X), with a 9.9% share of total exports. It was followed by Thailand, with a 6% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Vietnam amounted to +38.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (-17.0% per year) and Thailand (-12.0% per year).

Export Prices by Country

The average metal castor mounting export price stood at $X per ton in 2022, increasing by 8% against the previous year. Overall, the export price, however, saw a mild slump. The pace of growth appeared the most rapid in 2016 an increase of 33% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to Pakistan ($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 Timor-Leste (+21.6%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Castor Mounting Imports

Imports into Indonesia

In 2022, overseas purchases of castors with mountings of base metal increased by 34% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, imports continue to indicate a strong expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, metal castor mounting imports surged to $X in 2022. Overall, imports saw prominent growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X tons) constituted the largest metal castor mounting supplier to Indonesia, accounting for a 89% share of total imports. Moreover, metal castor mounting imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +8.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+16.1% per year) and Singapore (+7.9% per year).

In value terms, China ($X) constituted the largest supplier of castors with mountings of base metal to Indonesia, comprising 79% of total imports. The second position in the ranking was held by Singapore ($X), with a 6.9% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China stood at +15.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+16.7% per year) and Taiwan (Chinese) (+16.5% per year).

Import Prices by Country

In 2022, the average metal castor mounting import price amounted to $X per ton, increasing by 21% against the previous year. Over the period under review, import price indicated a remarkable increase from 2012 to 2022: its price increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, metal castor mounting import price increased by +35.3% against 2020 indices. The growth pace was the most rapid in 2017 when the average import price increased by 35% against the previous year. The import price peaked in 2022 and is likely to continue growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+8.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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