Mexico: Metal Self-Locking Nut Market 2024

Metal Self-Locking Nut Market Size in Mexico

The Mexican metal self-locking nut market surged to $X in 2021, jumping by 32% 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). Overall, the total consumption indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +9.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Metal Self-Locking Nut Exports

Exports from Mexico

In 2021, shipments abroad of iron or steel nuts (including self-locking nuts) decreased by -2.9% to X tons for the first time since 2018, thus ending a two-year rising trend. Over the period under review, exports, however, continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2015 when exports increased by 52% against the previous year. The exports peaked at X tons in 2020, and then reduced modestly in the following year.

In value terms, metal self-locking nut exports contracted to $X in 2021. In general, exports, however, posted a buoyant expansion. The pace of growth was the most pronounced in 2014 when exports increased by 44% against the previous year. The exports peaked at $X in 2020, and then fell in the following year.

Exports by Country

The United States (X tons) was the main destination for metal self-locking nut exports from Mexico, accounting for a 87% share of total exports. Moreover, metal self-locking nut exports to the United States exceeded the volume sent to the second major destination, Brazil (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States amounted to +16.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (+37.8% per year) and Guatemala (+10.5% per year).

In value terms, the United States ($X) remains the key foreign market for iron or steel nuts (including self-locking nuts) exports from Mexico, comprising 92% of total exports. The second position in the ranking was held by Brazil ($X), with a 2.3% share of total exports.

From 2012 to 2021, the average annual growth rate of value to the United States totaled +11.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (+38.5% per year) and Guatemala (+5.2% per year).

Export Prices by Country

In 2021, the average metal self-locking nut export price amounted to $X per ton, declining by -7% against the previous year. In general, the export price showed a noticeable curtailment. The growth pace was the most rapid in 2017 an increase of 12%. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Guatemala ($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 Brazil (+0.5%), while the prices for the other major destinations experienced a decline.

Metal Self-Locking Nut Imports

Imports into Mexico

In 2021, approx. X tons of iron or steel nuts (including self-locking nuts) were imported into Mexico; increasing by 38% against the previous year. Overall, imports posted prominent growth. The pace of growth appeared the most rapid in 2013 with an increase of 72% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are likely to see gradual growth in the near future.

In value terms, metal self-locking nut imports surged to $X in 2021. The total import value increased at an average annual rate of +4.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, the United States (X tons) constituted the largest metal self-locking nut supplier to Mexico, with a 80% share of total imports. Moreover, metal self-locking nut imports from the United States exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), tenfold. The third position in this ranking was taken by China (X tons), with a 6.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States amounted to +24.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+7.9% per year) and China (+16.3% per year).

In value terms, the United States ($X), Taiwan (Chinese) ($X) and China ($X) constituted the largest metal self-locking nut suppliers to Mexico, with a combined 77% share of total imports.

In terms of the main suppliers, China, with a CAGR of +12.8%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average metal self-locking nut import price stood at $X per ton in 2021, waning by -8.5% against the previous year. Over the period under review, the import price showed a abrupt slump. The pace of growth was the most pronounced in 2018 a decrease of -4.5% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, 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 Japan ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+1.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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