U.S.: Metal Hammer Market 2024

Metal Hammer Market Size in the U.S.

For the third consecutive year, the U.S. metal hammer market recorded growth in sales value, which increased by 11% to $X in 2022. Overall, the total consumption indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +2.1% 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 +79.0% against 2016 indices. Over the period under review, the market attained the maximum level in 2022 and is expected to retain growth in years to come.

Metal Hammer Production in the U.S.

In value terms, metal hammer production rose notably to $X in 2022. In general, production, however, faced a abrupt decline. The pace of growth was the most pronounced in 2020 when the production volume increased by 72% against the previous year. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Metal Hammer Exports

Exports from the U.S.

In 2022, shipments abroad of hammers and sledge hammers with working part of metal was finally on the rise to reach X tons after two years of decline. Overall, exports, however, saw a abrupt decline. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, metal hammer exports stood at $X in 2022. Over the period under review, exports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 17%. The exports peaked in 2022 and are likely to continue growth in the immediate term.

Exports by Country

Canada (X tons) was the main destination for metal hammer exports from the United States, with a 51% share of total exports. Moreover, metal hammer exports to Canada exceeded the volume sent to the second major destination, the UK (X tons), sevenfold. Australia (X tons) ranked third in terms of total exports with a 6.4% share.

From 2012 to 2022, the average annual growth rate of volume to Canada stood at -16.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (-14.6% per year) and Australia (-18.9% per year).

In value terms, Canada ($X) remains the key foreign market for hammers and sledge hammers with working part of metal exports from the United States, comprising 58% of total exports. The second position in the ranking was taken by Australia ($X), with an 8.6% share of total exports. It was followed by the UK, with an 8.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Canada stood at +2.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+0.1% per year) and the UK (+4.5% per year).

Export Prices by Country

In 2022, the average metal hammer export price amounted to $X per ton, waning by -16.6% against the previous year. In general, the export price, however, posted a resilient increase. The growth pace was the most rapid in 2020 an increase of 201% against the previous year. The export price peaked at $X per ton in 2021, and then reduced markedly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Australia ($X per ton), while the average price for exports to Ecuador ($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 Australia (+23.4%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Hammer Imports

Imports into the U.S.

In 2022, approx. X tons of hammers and sledge hammers with working part of metal were imported into the United States; increasing by 11% against the year before. Overall, imports continue to indicate a strong expansion. The pace of growth appeared the most rapid in 2021 with an increase of 29% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, metal hammer imports expanded rapidly to $X in 2022. Over the period under review, total imports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +7.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +57.1% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 40% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of metal hammer to the United States, with a 41% share of total imports. Moreover, metal hammer imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), twofold. The third position in this ranking was held by Taiwan (Chinese) (X tons), with a 14% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +8.2%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+14.6% per year) and Taiwan (Chinese) (+10.6% per year).

In value terms, China ($X), Taiwan (Chinese) ($X) and Mexico ($X) appeared to be the largest metal hammer suppliers to the United States, with a combined 71% share of total imports. Vietnam and India lagged somewhat behind, together comprising a further 27%.

Among the main suppliers, Vietnam, with a CAGR of +37.2%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average metal hammer import price stood at $X per ton in 2022, standing approx. at the previous year. Overall, the import price, however, saw a pronounced shrinkage. The pace of growth appeared the most rapid in 2018 an increase of 12% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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 Taiwan (Chinese) ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+2.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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