Kenya: Metal Self-Locking Nut Market 2024

Metal Self-Locking Nut Market Size in Kenya

In 2021, the Kenyan metal self-locking nut market increased by 30% to $X, rising for the second year in a row after two years of decline. Over the period under review, consumption recorded temperate growth. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market remained at a lower figure.

Metal Self-Locking Nut Exports

Exports from Kenya

In 2021, metal self-locking nut exports from Kenya shrank markedly to X tons, declining by -48% against 2020. Overall, exports showed a abrupt setback. The pace of growth appeared the most rapid in 2018 with an increase of 202%. The exports peaked at X tons in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, metal self-locking nut exports reduced sharply to $X in 2021. In general, exports showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2015 with an increase of 252% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Tanzania (X tons), the United States (X tons) and Rwanda (X kg) were the main destinations of metal self-locking nut exports from Kenya, together comprising 62% of total exports. These countries were followed by South Sudan, Brazil, Democratic Republic of the Congo, Austria, Canada and Uganda, which together accounted for a further 33%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Austria (with a CAGR of +46.0%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Tanzania ($X) and Brazil ($X) appeared to be the largest markets for metal self-locking nut exported from Kenya worldwide, with a combined 57% share of total exports. These countries were followed by Rwanda, Uganda, Austria, South Sudan, Canada and Democratic Republic of the Congo, which together accounted for a further 19%.

Among the main countries of destination, Austria, with a CAGR of +47.2%, 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 7.5% against the previous year. In general, export price indicated strong growth from 2012 to 2021: its price increased at an average annual rate of +6.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, metal self-locking nut export price increased by +11.9% against 2019 indices. The pace of growth was the most pronounced in 2014 an increase of 34% 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 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Uganda ($X per ton), while the average price for exports to South Sudan ($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 Uganda (+12.1%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Self-Locking Nut Imports

Imports into Kenya

In 2021, supplies from abroad of iron or steel nuts (including self-locking nuts) increased by 20% to X tons, rising for the second year in a row after two years of decline. Over the period under review, imports enjoyed temperate growth. The most prominent rate of growth was recorded in 2017 when imports increased by 166% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2021, the growth of imports remained at a lower figure.

In value terms, metal self-locking nut imports skyrocketed to $X in 2021. In general, imports posted a measured expansion. The most prominent rate of growth was recorded in 2017 when imports increased by 196% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest metal self-locking nut supplier to Kenya, with a 78% share of total imports. Moreover, metal self-locking nut imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), eightfold. Japan (X tons) ranked third in terms of total imports with a 3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +4.6%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-2.7% per year) and Japan (+36.3% per year).

In value terms, China ($X) constituted the largest supplier of iron or steel nuts (including self-locking nuts) to Kenya, comprising 62% of total imports. The second position in the ranking was held by India ($X), with a 9.9% share of total imports. It was followed by Japan, with a 6.3% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +4.3%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+0.6% per year) and Japan (+12.0% per year).

Import Prices by Country

In 2021, the average metal self-locking nut import price amounted to $X per ton, surging by 12% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by 20% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a 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 Japan ($X per ton), while the price for Egypt ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+3.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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