Southern Asia: Metal Self-Locking Nut Market 2024

Metal Self-Locking Nut Market Size in Southern Asia

The South Asian metal self-locking nut market reached $X in 2021, approximately equating the previous year. The market value increased at an average annual rate of +3.2% over the period from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Metal Self-Locking Nut Production in Southern Asia

In value terms, metal self-locking nut production contracted modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.4% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 with an increase of 33% against the previous year. The level of production peaked at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Metal Self-Locking Nut Exports

Exports in Southern Asia

In 2021, after two years of decline, there was significant growth in shipments abroad of iron or steel nuts (including self-locking nuts), when their volume increased by 69% to X tons. Over the period under review, exports, however, saw a slight setback. The most prominent rate of growth was recorded in 2014 with an increase of 80%. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, metal self-locking nut exports surged to $X in 2021. Overall, exports, however, continue to indicate a pronounced downturn. The pace of growth appeared the most rapid in 2013 when exports increased by 137% against the previous year. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

India (X tons) represented roughly 100% of total exports in 2021.

India was also the fastest-growing in terms of the iron or steel nuts (including self-locking nuts) exports, with a CAGR of -1.1% from 2012 to 2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest metal self-locking nut supplier in Southern Asia.

In India, metal self-locking nut exports contracted by an average annual rate of -3.3% over the period from 2012-2021.

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2021, with a decrease of -5.1% against the previous year. In general, the export price recorded a pronounced decrease. The growth pace was the most rapid in 2013 when the export price increased by 55%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for India.

From 2012 to 2021, the rate of growth in terms of prices for India amounted to -2.2% per year.

Metal Self-Locking Nut Imports

Imports in Southern Asia

In 2021, supplies from abroad of iron or steel nuts (including self-locking nuts) was finally on the rise to reach X tons after two years of decline. Total imports indicated a pronounced increase from 2012 to 2021: its volume increased at an average annual rate of +3.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, metal self-locking nut imports skyrocketed to $X in 2021. Total imports indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +2.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of import peaked at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

India prevails in imports structure, recording X tons, which was approx. 87% of total imports in 2021. Pakistan (X tons), Bangladesh (X tons), Nepal (X tons) and Sri Lanka (X tons) took a minor share of total imports.

Imports into India increased at an average annual rate of +3.5% from 2012 to 2021. At the same time, Bangladesh (+6.4%), Pakistan (+5.5%), Nepal (+5.2%) and Sri Lanka (+4.9%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +6.4% from 2012-2021. From 2012 to 2021, the share of India decreased by -1.7 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported iron or steel nuts (including self-locking nuts) in Southern Asia, comprising 89% of total imports. The second position in the ranking was taken by Pakistan ($X), with a 3.6% share of total imports. It was followed by Bangladesh, with a 3.5% share.

In India, metal self-locking nut imports increased at an average annual rate of +2.1% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Pakistan (+5.2% per year) and Bangladesh (+11.7% per year).

Import Prices by Country

In 2021, the import price in Southern Asia amounted to $X per ton, dropping by -24.6% against the previous year. Overall, the import price saw a slight descent. The pace of growth was the most pronounced in 2013 when the import price increased by 35%. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bangladesh (+5.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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