Puerto Rico: Nails And Tacks Market 2022

Nails And Tacks Market Size in Puerto Rico

In 2021, the Puerto Rican nails and tacks market was finally on the rise to reach $X after seven years of decline. In general, consumption, however, recorded a pronounced downturn. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market failed to regain momentum.

Nails And Tacks Production in Puerto Rico

In value terms, nails and tacks production rose modestly to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a pronounced shrinkage. The growth pace was the most rapid in 2013 with an increase of 31% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2021, production growth remained at a somewhat lower figure.

Nails And Tacks Exports

Exports by Country

China prevails in exports structure, finishing at X tons, which was near 52% of total exports in 2021. The following exporters - Thailand (X tons), Germany (X tons), the Netherlands (X tons), South Korea (X tons), Slovenia (X tons), Italy (X tons), Taiwan (Chinese) (X tons), India (X tons), Austria (X tons), the Czech Republic (X tons), the United States (X tons) and Poland (X tons) - together made up 35% of total exports.

China experienced a relatively flat trend pattern with regard to volume of exports of nails, tacks, drawing pins, corrugated nails, staples. At the same time, Thailand (+30.9%), South Korea (+16.2%), Poland (+9.9%), Austria (+5.9%), the Czech Republic (+4.6%), India (+3.9%), Taiwan (Chinese) (+3.0%) and Slovenia (+2.4%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in the world, with a CAGR of +30.9% from 2012-2021. Germany experienced a relatively flat trend pattern. By contrast, the Netherlands (-1.2%), Italy (-2.5%) and the United States (-7.2%) illustrated a downward trend over the same period. While the share of Thailand (+3.5 p.p.) and South Korea (+2.5 p.p.) increased significantly in terms of the global exports from 2012-2021, the share of the United States (-2.1 p.p.) and China (-2.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest nails and tacks supplier from Puerto Rico, comprising 50% of global exports. The second position in the ranking was held by Germany ($X), with a 5% share of global exports. It was followed by Slovenia, with a 3.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China stood at +1.9%. In the other countries, the average annual rates were as follows: Germany (-0.4% per year) and Slovenia (+2.0% per year).

Export Prices by Country

In 2021, the export price in Puerto Rico amounted to less than $X per ton, remaining constant against the previous year. In general, the export price saw a relatively flat trend pattern.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was the United States ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+3.9%), while the other leaders experienced more modest paces of growth.

Nails And Tacks Imports

Imports by Country

The United States was the key importer of nails, tacks, drawing pins, corrugated nails, staples in the world, with the volume of imports amounting to X tons, which was near 25% of total imports in 2021. Mexico (X tons) ranks second in terms of the total imports with a 6.2% share, followed by Germany (5.4%). Poland (X tons), Indonesia (X tons), the Netherlands (X tons), Russia (X tons), Canada (X tons), Vietnam (X tons), France (X tons), the UK (X tons), India (X tons) and Thailand (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to nails and tacks imports into the United States stood at +2.8%. At the same time, India (+25.8%), Vietnam (+13.7%), Indonesia (+3.1%) and Poland (+1.6%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing importer imported in the world, with a CAGR of +25.8% from 2012-2021. The Netherlands, France and Russia experienced a relatively flat trend pattern. By contrast, Thailand (-1.3%), Canada (-1.6%), Mexico (-1.8%), the UK (-2.3%) and Germany (-3.5%) illustrated a downward trend over the same period. The United States (+5 p.p.), India (+1.6 p.p.) and Vietnam (+1.6 p.p.) significantly strengthened its position in terms of the global imports, while Germany saw its share reduced by -2.3% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported nails, tacks, drawing pins, corrugated nails, staples into Puerto Rico, comprising 20% of global imports. The second position in the ranking was taken by Germany ($X), with a 6.4% share of global imports. It was followed by Mexico, with a 5% share.

From 2012 to 2021, the average annual rate of growth in terms of value in the United States was relatively modest. In the other countries, the average annual rates were as follows: Germany (-3.4% per year) and Mexico (-0.9% per year).

Import Prices by Country

In 2021, the import price in Puerto Rico amounted to less than $X per ton, stabilizing at the previous year. Overall, the import price continues to indicate a relatively flat trend pattern.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+1.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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