Malaysia: Nails And Tacks Market 2024

Nails And Tacks Market Size in Malaysia

In 2022, the Malaysian nails and tacks market was finally on the rise to reach $X after three years of decline. Overall, consumption recorded a relatively flat trend pattern. Nails and tacks consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Nails And Tacks Production in Malaysia

In value terms, nails and tacks production fell modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.3% from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2016 with an increase of 18% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Nails And Tacks Exports

Exports from Malaysia

Nails and tacks exports from Malaysia fell to X tons in 2022, which is down by -14.5% compared with the year before. Overall, exports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 39%. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, nails and tacks exports shrank to $X in 2022. In general, exports recorded a mild contraction. The most prominent rate of growth was recorded in 2014 when exports increased by 34%. Over the period under review, the exports reached the maximum at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X tons), Vietnam (X tons) and Indonesia (X tons) were the main destinations of nails and tacks exports from Malaysia, with a combined 71% 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 the United States (with a CAGR of +38.3%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for nails and tacks exported from Malaysia were Vietnam ($X), the United States ($X) and Singapore ($X), together comprising 66% of total exports.

Among the main countries of destination, the United States, with a CAGR of +39.3%, recorded 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

In 2022, the average nails and tacks export price amounted to $X per ton, surging by 4.5% against the previous year. Overall, the export price, however, showed a slight descent. The most prominent rate of growth was recorded in 2018 when the average export price increased by 17%. As a result, the export price attained the peak level of $X per ton. From 2019 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Nigeria ($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 Japan (+6.8%), while the prices for the other major destinations experienced more modest paces of growth.

Nails And Tacks Imports

Imports into Malaysia

In 2022, overseas purchases of nails, tacks, drawing pins, corrugated nails, staples were finally on the rise to reach X tons after four years of decline. Overall, imports, however, continue to indicate a pronounced slump. The most prominent rate of growth was recorded in 2017 with an increase of 65% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, nails and tacks imports surged to $X in 2022. Over the period under review, imports, however, recorded a mild reduction. The most prominent rate of growth was recorded in 2017 when imports increased by 91% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest nails and tacks supplier to Malaysia, accounting for a 84% share of total imports. Moreover, nails and tacks imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), more than tenfold. Singapore (X tons) ranked third in terms of total imports with a 3.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at -2.0%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+3.5% per year) and Singapore (-1.4% per year).

In value terms, China ($X) constituted the largest supplier of nails, tacks, drawing pins, corrugated nails, staples to Malaysia, comprising 88% of total imports. The second position in the ranking was held by Singapore ($X), with a 4.3% share of total imports. It was followed by Taiwan (Chinese), with a 2.2% share.

From 2012 to 2022, the average annual growth rate of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (-2.0% per year) and Taiwan (Chinese) (-3.1% per year).

Import Prices by Country

In 2022, the average nails and tacks import price amounted to $X per ton, with an increase of 23% against the previous year. Over the period under review, import price indicated slight growth from 2012 to 2022: its price increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, nails and tacks import price decreased by -21.8% against 2019 indices. The growth pace was the most rapid in 2019 when the average import price increased by 25%. As a result, import price attained the peak level of $X per ton. From 2020 to 2022, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+3.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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