Singapore: Metal Self-Locking Nut Market 2025

Metal Self-Locking Nut Market Size in Singapore

The Singaporean metal self-locking nut market skyrocketed to $X in 2021, growing by 271% against the previous year. In general, consumption posted a buoyant increase. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Metal Self-Locking Nut Production in Singapore

In value terms, metal self-locking nut production surged to $X in 2021 estimated in export price. Overall, production, however, faced a dramatic descent. Metal self-locking nut production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Metal Self-Locking Nut Exports

Exports from Singapore

In 2021, approx. X tons of iron or steel nuts (including self-locking nuts) were exported from Singapore; dropping by -12.8% on the year before. Overall, exports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when exports increased by 97% against the previous year. As a result, the exports attained the peak of X tons. From 2018 to 2021, the growth of the exports failed to regain momentum.

In value terms, metal self-locking nut exports surged to $X in 2021. Over the period under review, total exports indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +5.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 when exports increased by 47%. Over the period under review, the exports reached the peak figure in 2021 and are likely to see steady growth in years to come.

Exports by Country

Malaysia (X tons), Indonesia (X tons) and South Africa (X tons) were the main destinations of metal self-locking nut exports from Singapore, together comprising 64% of total exports. These countries were followed by Thailand, the United States, India, the UK, the Netherlands, South Korea and the Philippines, which together accounted for a further 25%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Netherlands (with a CAGR of +68.0%), while the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), Indonesia ($X) and India ($X) were the largest markets for metal self-locking nut exported from Singapore worldwide, together comprising 52% of total exports. The UK, Thailand, the United States, the Philippines, the Netherlands, South Korea and South Africa lagged somewhat behind, together accounting for a further 25%.

Among the main countries of destination, the Netherlands, with a CAGR of +60.7%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average metal self-locking nut export price amounted to $X per ton, surging by 37% against the previous year. Overall, the export price recorded resilient growth. The pace of growth was the most pronounced in 2018 when the average export price increased by 77% against the previous year. Over the period under review, the average export prices hit record highs in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to South Africa ($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 the Philippines (+10.6%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Self-Locking Nut Imports

Imports into Singapore

After three years of decline, purchases abroad of iron or steel nuts (including self-locking nuts) increased by 18% to X tons in 2021. Overall, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when imports increased by 68%. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, metal self-locking nut imports skyrocketed to $X in 2021. Over the period under review, imports continue to indicate prominent growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest metal self-locking nut supplier to Singapore, with a 55% share of total imports. Moreover, metal self-locking nut imports from China exceeded the figures recorded by the second-largest supplier, Mexico (X tons), fourfold. The third position in this ranking was held by the United States (X tons), with a 6.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +4.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+104.7% per year) and the United States (-13.6% per year).

In value terms, the largest metal self-locking nut suppliers to Singapore were China ($X), the United States ($X) and Taiwan (Chinese) ($X), with a combined 70% share of total imports. Mexico, Japan, Malaysia, South Korea and Thailand lagged somewhat behind, together accounting for a further 18%.

Mexico, with a CAGR of +75.2%, saw 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 more modest paces of growth.

Import Prices by Country

In 2021, the average metal self-locking nut import price amounted to $X per ton, picking up by 20% against the previous year. Overall, the import price posted a remarkable increase. The pace of growth appeared the most rapid in 2020 when the average import price increased by 35%. Over the period under review, average import prices hit record highs in 2021 and is likely to see steady growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Mexico ($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 (+18.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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