Puerto Rico: Base Metal Hinge Market 2024

Base Metal Hinge Market Size in Puerto Rico

The Puerto Rican base metal hinge market declined to $X in 2021, waning by -10% against the previous year. Overall, consumption, however, showed a moderate increase. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market remained at a lower figure.

Base Metal Hinge Production in Puerto Rico

In value terms, base metal hinge production shrank to $X in 2021 estimated in export price. Overall, production, however, enjoyed temperate growth. The most prominent rate of growth was recorded in 2017 when the production volume increased by 55% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2021, production growth remained at a lower figure.

Base Metal Hinge Exports

Exports from Puerto Rico

In 2021, approx. less than X kg of base metal hinges were exported from Puerto Rico; flattening at 2020 figures. In general, exports showed a relatively flat trend pattern.

In value terms, base metal hinge exports totaled less than $X in 2021. Over the period under review, exports continue to indicate a relatively flat trend pattern.

Exports by Country

China represented the major exporting country with an export of about X tons, which reached 49% of total exports. Germany (X tons) ranks second in terms of the total exports with an 11% share, followed by Austria (6.1%) and Italy (5.3%). The United States (X tons), Turkey (X tons), Poland (X tons), India (X tons), the Czech Republic (X tons), South Korea (X tons) and Canada (X tons) followed a long way behind the leaders.

Exports from China increased at an average annual rate of +5.6% from 2012 to 2021. At the same time, Italy (+5.7%), Poland (+5.0%), Turkey (+4.9%), Austria (+4.3%), the Czech Republic (+3.8%), Germany (+3.1%) and South Korea (+1.8%) displayed positive paces of growth. Moreover, Italy emerged as the fastest-growing exporter exported in the world, with a CAGR of +5.7% from 2012-2021. India experienced a relatively flat trend pattern. By contrast, the United States (-1.6%) and Canada (-4.0%) illustrated a downward trend over the same period. While the share of China (+6.5 p.p.) increased significantly in terms of the global exports from 2012-2021, the share of Canada (-1.8 p.p.) and the United States (-2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest base metal hinge supplier from Puerto Rico, comprising 35% of global exports. The second position in the ranking was taken by Germany ($X), with a 16% share of global exports. It was followed by Austria, with a 10% share.

From 2012 to 2021, the average annual growth rate of value in China totaled +10.8%. In the other countries, the average annual rates were as follows: Germany (+4.5% per year) and Austria (+6.2% per year).

Export Prices by Country

In 2021, the export price in Puerto Rico amounted to less than $X per ton, leveling off at the previous year. Over the period under review, the export price showed a relatively flat trend pattern.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Austria ($X per ton), while India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+5.2%), while the other leaders experienced more modest paces of growth.

Base Metal Hinge Imports

Imports into Puerto Rico

In 2021, approx. less than X kg of base metal hinges were imported into Puerto Rico; remaining stable against 2020. Overall, imports recorded a relatively flat trend pattern.

In value terms, base metal hinge imports totaled less than $X in 2021. In general, imports showed a relatively flat trend pattern.

Imports by Country

In 2021, the United States (X tons), distantly followed by Germany (X tons) and Poland (X tons) represented the main importers of base metal hinges, together achieving 31% of total imports. Mexico (X tons), Russia (X tons), China (X tons), India (X tons), the UK (X tons), Spain (X tons), Indonesia (X tons), Canada (X tons), South Korea (X tons) and Brazil (X tons) took a relatively small share of total imports.

From 2012 to 2021, average annual rates of growth with regard to base metal hinge imports into the United States stood at +4.0%. At the same time, India (+11.6%), China (+8.2%), Poland (+7.6%), South Korea (+7.1%), Germany (+7.1%), Brazil (+6.8%), the UK (+4.3%), Indonesia (+3.0%), Mexico (+2.5%) and Spain (+1.4%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing importer imported in the world, with a CAGR of +11.6% from 2012-2021. Canada and Russia experienced a relatively flat trend pattern. From 2012 to 2021, the share of Germany and India increased by +1.9 and +1.5 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest base metal hinge importing markets into Puerto Rico were the United States ($X), Germany ($X) and China ($X), together accounting for 31% of total imports. Poland, Mexico, Russia, the UK, Canada, Spain, South Korea, India, Brazil and Indonesia lagged somewhat behind, together accounting for a further 27%.

South Korea, with a CAGR of +11.8%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Puerto Rico amounted to less than $X per ton, flattening at the previous year. In general, the import price showed a relatively flat trend pattern.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+8.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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