Portugal: Hairpin Market 2024

Hairpin Market Size in Portugal

In 2021, the Portuguese hairpin market decreased by -17.7% to $X, falling for the fourth consecutive year after two years of growth. Overall, consumption recorded a deep contraction. Hairpin consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Hairpin Exports

Exports from Portugal

For the fourth year in a row, Portugal recorded growth in shipments abroad of hairpins, curling pins, curling grips and hair-curlers, which increased by 51% to X tons in 2021. Over the period under review, exports recorded a strong expansion. The most prominent rate of growth was recorded in 2019 with an increase of 286%. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in the near future.

In value terms, hairpin exports surged to $X in 2021. In general, exports continue to indicate a strong increase. The pace of growth was the most pronounced in 2019 when exports increased by 213% against the previous year. The exports peaked in 2021 and are likely to see gradual growth in the immediate term.

Exports by Country

Spain (X tons) was the main destination for hairpin exports from Portugal, with a 82% share of total exports. Moreover, hairpin exports to Spain exceeded the volume sent to the second major destination, France (X tons), sevenfold. Italy (X tons) ranked third in terms of total exports with a 1.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Spain totaled +28.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+72.9% per year) and Italy (-13.7% per year).

In value terms, Spain ($X) remains the key foreign market for hairpin exports from Portugal, comprising 61% of total exports. The second position in the ranking was taken by France ($X), with a 14% share of total exports. It was followed by Italy, with a 2.4% share.

From 2012 to 2021, the average annual growth rate of value to Spain amounted to +34.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+75.1% per year) and Italy (-6.9% per year).

Export Prices by Country

The average hairpin export price stood at $X per ton in 2021, with an increase of 3.8% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average export price increased by 62%. As a result, the export price reached the peak level of $X per ton. From 2018 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Saudi Arabia ($X per ton), while the average price for exports to Spain ($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 Saudi Arabia (+17.5%), while the prices for the other major destinations experienced more modest paces of growth.

Hairpin Imports

Imports into Portugal

Hairpin imports into Portugal rose notably to X tons in 2021, surging by 7.2% on the year before. Over the period under review, imports, however, recorded a noticeable descent. The most prominent rate of growth was recorded in 2019 with an increase of 36%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, hairpin imports skyrocketed to $X in 2021. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 with an increase of 30%. Over the period under review, imports hit record highs at $X in 2012; afterwards, it flattened through to 2021.

Imports by Country

China (X tons), Spain (X tons) and Italy (X tons) were the main suppliers of hairpin imports to Portugal, with a combined 95% share of total imports. These countries were followed by France, the Netherlands and Ireland, which together accounted for a further 3.1%.

From 2012 to 2021, the biggest increases were in France (with a CAGR of +9.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Spain ($X), China ($X) and France ($X) constituted the largest hairpin suppliers to Portugal, with a combined 92% share of total imports.

France, with a CAGR of +10.5%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average hairpin import price stood at $X per ton in 2021, growing by 18% against the previous year. Overall, import price indicated a strong expansion from 2012 to 2021: its price increased at an average annual rate of +5.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, hairpin import price decreased by -19.7% against 2018 indices. The growth pace was the most rapid in 2013 an increase of 27% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Ireland ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+14.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform