Malaysia: Base Metal Hook Market 2024

Base Metal Hook Market Size in Malaysia

In 2022, the Malaysian base metal hook market decreased by -2.2% to $X, falling for the third year in a row after two years of growth. In general, consumption saw a pronounced decline. Base metal hook consumption peaked at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

Base Metal Hook Production in Malaysia

In value terms, base metal hook production surged to $X in 2022 estimated in export price. In general, production, however, continues to indicate a deep downturn. The pace of growth appeared the most rapid in 2018 with an increase of 60% against the previous year. Base metal hook production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Base Metal Hook Exports

Exports from Malaysia

In 2022, the amount of base metal hooks, eyes and eyelets exported from Malaysia fell remarkably to X tons, waning by -27.4% against the previous year's figure. Over the period under review, exports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 138%. As a result, the exports reached the peak of X tons, and then fell markedly in the following year.

In value terms, base metal hook exports contracted dramatically to $X in 2022. Overall, exports saw a perceptible downturn. The pace of growth was the most pronounced in 2021 when exports increased by 59%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

New Caledonia (X tons), Papua New Guinea (X tons) and Myanmar (X tons) were the main destinations of base metal hook exports from Malaysia, with a combined 55% 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 New Caledonia (with a CAGR of +125.3%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Singapore ($X) and New Caledonia ($X) appeared to be the largest markets for base metal hook exported from Malaysia worldwide, together comprising 48% of total exports.

New Caledonia, with a CAGR of +135.6%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average base metal hook export price stood at $X per ton in 2022, rising by 12% against the previous year. Over the period under review, the export price, however, continues to indicate a perceptible slump. The most prominent rate of growth was recorded in 2013 an increase of 29%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Myanmar ($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 Hong Kong SAR (+8.8%), while the prices for the other major destinations experienced more modest paces of growth.

Base Metal Hook Imports

Imports into Malaysia

Base metal hook imports into Malaysia shrank notably to X tons in 2022, with a decrease of -24.1% against 2021. Overall, imports, however, recorded buoyant growth. The pace of growth appeared the most rapid in 2013 with an increase of 713%. Imports peaked at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, base metal hook imports fell to $X in 2022. Over the period under review, imports, however, continue to indicate prominent growth. The pace of growth appeared the most rapid in 2013 with an increase of 872% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) was the main supplier of base metal hook to Malaysia, accounting for a 91% share of total imports. It was followed by France (X tons), with a 2.8% share of total imports. Taiwan (Chinese) (X tons) ranked third in terms of total imports with a 2.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +19.3%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+36.2% per year) and Taiwan (Chinese) (-4.3% per year).

In value terms, China ($X) constituted the largest supplier of base metal hooks, eyes and eyelets to Malaysia, comprising 78% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 5% share of total imports. It was followed by France, with a 1.9% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +17.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-4.2% per year) and France (+13.0% per year).

Import Prices by Country

In 2022, the average base metal hook import price amounted to $X per ton, with an increase of 19% against the previous year. In general, the import price, however, recorded a perceptible decline. The pace of growth appeared the most rapid in 2019 when the average import price increased by 30%. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+0.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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