Pakistan: Metal Self-Locking Nut Market 2024

Metal Self-Locking Nut Market Size in Pakistan

In 2021, the Pakistani metal self-locking nut market was finally on the rise to reach $X after three years of decline. In general, the total consumption indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +5.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Metal Self-Locking Nut Exports

Exports from Pakistan

After two years of growth, overseas shipments of iron or steel nuts (including self-locking nuts) decreased by -80.8% to X tons in 2021. Over the period under review, exports, however, recorded a buoyant increase. The most prominent rate of growth was recorded in 2019 with an increase of 5,451%. Over the period under review, the exports reached the maximum at X tons in 2020, and then shrank notably in the following year.

In value terms, metal self-locking nut exports fell significantly to $X in 2021. Overall, exports, however, continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2019 when exports increased by 4,891% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for metal self-locking nut exports from Pakistan, with a 75% share of total exports. Moreover, metal self-locking nut exports to the United States exceeded the volume sent to the second major destination, France (X tons), sevenfold. The third position in this ranking was taken by Belgium (X tons), with a 9.2% share.

From 2012 to 2021, the average annual growth rate of volume to the United States stood at +93.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (-59.2% per year) and Belgium (0.0% per year).

In value terms, the largest markets for metal self-locking nut exported from Pakistan were the United States ($X), Belgium ($X) and France ($X), together comprising 93% of total exports.

Among the main countries of destination, the United States, with a CAGR of +85.6%, 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 mixed trend patterns.

Export Prices by Country

The average metal self-locking nut export price stood at $X per ton in 2021, rising by 103% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The export price peaked at $X per ton in 2017; however, from 2018 to 2021, 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 Belgium ($X per ton), while the average price for exports to France ($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 Indonesia (+115.4%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Self-Locking Nut Imports

Imports into Pakistan

Metal self-locking nut imports into Pakistan skyrocketed to X tons in 2021, rising by 32% compared with 2020 figures. Over the period under review, total imports indicated a strong expansion from 2012 to 2021: its volume increased at an average annual rate of +5.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +54.8% against 2019 indices. The pace of growth appeared the most rapid in 2014 with an increase of 136% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, metal self-locking nut imports soared to $X in 2021. In general, imports showed a prominent expansion. The most prominent rate of growth was recorded in 2014 with an increase of 107% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest metal self-locking nut supplier to Pakistan, with a 58% share of total imports. Moreover, metal self-locking nut imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), fourfold. Thailand (X tons) ranked third in terms of total imports with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +4.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+6.4% per year) and Thailand (+18.2% per year).

In value terms, China ($X) constituted the largest supplier of iron or steel nuts (including self-locking nuts) to Pakistan, comprising 50% of total imports. The second position in the ranking was taken by Japan ($X), with a 21% share of total imports. It was followed by Thailand, with a 6.3% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +4.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+8.7% per year) and Thailand (+9.4% per year).

Import Prices by Country

The average metal self-locking nut import price stood at $X per ton in 2021, stabilizing at the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 an increase of 34%. As a result, import price attained the peak level of $X per ton. From 2017 to 2021, the average 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 the United Arab Emirates ($X per ton), while the price for Thailand ($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 (+2.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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