Kenya: Market for Iron Or Steel Anchors, Grapnels 2024

Market Size for Iron Or Steel Anchors, Grapnels in Kenya

The Kenyan metal anchors and grapnels market shrank significantly to $X in 2022, reducing by -18% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, saw a pronounced increase. Over the period under review, the market attained the maximum level at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Exports of Iron Or Steel Anchors, Grapnels

Exports from Kenya

In 2022, approx. X units of iron or steel anchors, grapnels were exported from Kenya; waning by -19.3% compared with the previous year. Over the period under review, exports faced a deep slump. The most prominent rate of growth was recorded in 2015 when exports increased by 463%. Over the period under review, the exports attained the peak figure at X units in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, metal anchors and grapnels exports soared to $X in 2022. In general, exports saw a abrupt curtailment. The growth pace was the most rapid in 2015 when exports increased by 811% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Mozambique (X units) was the main destination for metal anchors and grapnels exports from Kenya, accounting for a 92% share of total exports. Moreover, metal anchors and grapnels exports to Mozambique exceeded the volume sent to the second major destination, Uganda (X units), more than tenfold. The third position in this ranking was held by Rwanda (X units), with a 1.6% share.

From 2012 to 2022, the average annual growth rate of volume to Mozambique amounted to +13.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Uganda (+20.4% per year) and Rwanda (-16.4% per year).

In value terms, Mozambique ($X) remains the key foreign market for iron or steel anchors, grapnels exports from Kenya, comprising 84% of total exports. The second position in the ranking was taken by Uganda ($X), with a 12% share of total exports. It was followed by Tanzania, with a 1.9% share.

From 2012 to 2022, the average annual growth rate of value to Mozambique amounted to +9.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Uganda (+28.1% per year) and Tanzania (+3.9% per year).

Export Prices by Country

The average metal anchors and grapnels export price stood at $X per unit in 2022, with an increase of 53% against the previous year. Over the period under review, the export price saw a noticeable increase. The most prominent rate of growth was recorded in 2014 when the average export price increased by 161% against the previous year. The export price peaked at $X per unit in 2015; however, from 2016 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 Tanzania ($X per unit), while the average price for exports to Rwanda ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+46.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Iron Or Steel Anchors, Grapnels

Imports into Kenya

In 2022, the amount of iron or steel anchors, grapnels imported into Kenya dropped to X units, waning by -5.4% against the previous year. In general, imports, however, recorded a pronounced increase. The most prominent rate of growth was recorded in 2015 when imports increased by 209% against the previous year. Over the period under review, imports hit record highs at X units in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, metal anchors and grapnels imports contracted dramatically to $X in 2022. Over the period under review, imports, however, posted moderate growth. The pace of growth appeared the most rapid in 2015 when imports increased by 345% against the previous year. Over the period under review, imports attained the peak figure at $X in 2016; however, from 2017 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest supplier of metal anchors and grapnels to Kenya, with a 69% share of total imports. Moreover, metal anchors and grapnels imports from China exceeded the figures recorded by the second-largest supplier, India (X units), sixfold. Spain (X units) ranked third in terms of total imports with an 8.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +7.6%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+36.3% per year) and Spain (+21.1% per year).

In value terms, Spain ($X), China ($X) and India ($X) constituted the largest metal anchors and grapnels suppliers to Kenya, together accounting for 93% of total imports.

India, with a CAGR of +53.7%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average metal anchors and grapnels import price stood at $X per unit in 2022, reducing by -24.1% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average import price increased by 104%. As a result, import price attained the peak level of $X per unit, and then contracted dramatically in the following year.

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 Spain ($X per unit), while the price for Turkey ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+12.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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