U.S.: Base Metal Hook Market 2024

Base Metal Hook Market Size in the U.S.

The U.S. base metal hook market expanded to $X in 2022, surging by 1.6% against the previous year. In general, the total consumption indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +4.6% against 2019 indices. Base metal hook consumption peaked at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Base Metal Hook Production in the U.S.

In value terms, base metal hook production totaled $X in 2022. Overall, the total production indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +2.6% against 2019 indices. The most prominent rate of growth was recorded in 2014 with an increase of 41% against the previous year. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Base Metal Hook Exports

Exports from the U.S.

In 2022, overseas shipments of base metal hooks, eyes and eyelets increased by 3.9% to X tons, rising for the second consecutive year after seven years of decline. Overall, exports, however, continue to indicate a noticeable downturn. The most prominent rate of growth was recorded in 2021 when exports increased by 35%. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, base metal hook exports skyrocketed to $X in 2022. Over the period under review, exports, however, continue to indicate a noticeable decline. The pace of growth appeared the most rapid in 2021 with an increase of 43%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Canada (X tons), Mexico (X tons) and the Dominican Republic (X tons) were the main destinations of base metal hook exports from the United States, together comprising 83% of total exports. China, Portugal, Honduras and Saudi Arabia lagged somewhat behind, together accounting for a further 9.4%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Portugal (with a CAGR of +200.4%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for base metal hook exported from the United States were Mexico ($X), Canada ($X) and the Dominican Republic ($X), with a combined 72% share of total exports. Portugal, China, Honduras and Saudi Arabia lagged somewhat behind, together accounting for a further 16%.

Portugal, with a CAGR of +218.9%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average base metal hook export price stood at $X per ton in 2022, picking up by 13% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the average export price increased by 20%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Portugal ($X per ton), while the average price for exports to Canada ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Portugal (+6.1%), while the prices for the other major destinations experienced more modest paces of growth.

Base Metal Hook Imports

Imports into the U.S.

In 2022, the amount of base metal hooks, eyes and eyelets imported into the United States reached X tons, with an increase of 2.9% on the previous year. Over the period under review, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by 23% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, base metal hook imports expanded modestly to $X in 2022. The total import value increased at an average annual rate of +2.3% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when imports increased by 26% against the previous year. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest base metal hook supplier to the United States, accounting for a 54% share of total imports. Moreover, base metal hook imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), fivefold. Canada (X tons) ranked third in terms of total imports with an 8.2% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled -3.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+1.5% per year) and Canada (+63.3% per year).

In value terms, China ($X) constituted the largest supplier of base metal hooks, eyes and eyelets to the United States, comprising 37% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 14% share of total imports. It was followed by South Korea, with an 11% share.

From 2012 to 2022, the average annual growth rate of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+8.5% per year) and South Korea (+0.7% per year).

Import Prices by Country

In 2022, the average base metal hook import price amounted to $X per ton, flattening at the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.9%. The growth pace was the most rapid in 2018 when the average import price increased by 27%. The import price peaked at $X per ton in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was France ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+19.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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