U.S.: Gouges And Chisels Market 2024

Gouges And Chisels Market Size in the U.S.

In 2022, the U.S. gouges and chisels market increased by 7.8% to $X, rising for the third year in a row after two years of decline. Overall, consumption saw a pronounced reduction. Gouges and chisels consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Gouges And Chisels Production in the U.S.

In value terms, gouges and chisels production expanded to $X in 2022. In general, production, however, continues to indicate a abrupt contraction. The growth pace was the most rapid in 2020 with an increase of 16% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Gouges And Chisels Exports

Exports from the U.S.

In 2022, approx. X tons of planes, chisels and gouges for working wood were exported from the United States; declining by -25.4% compared with the previous year. Over the period under review, exports faced a drastic downturn. The growth pace was the most rapid in 2021 with an increase of 43% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, gouges and chisels exports totaled $X in 2022. Overall, exports recorded a pronounced downturn. The pace of growth appeared the most rapid in 2021 with an increase of 24% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Canada (X tons), Turkey (X tons) and the UK (X tons) were the main destinations of gouges and chisels exports from the United States, together comprising 35% of total exports. Mexico, China, Peru, Chile, Ecuador, Taiwan (Chinese), Australia, Guatemala and the United Arab Emirates lagged somewhat behind, together comprising a further 45%.

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +8.5%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Canada ($X) remains the key foreign market for planes, chisels and gouges for working wood exports from the United States, comprising 43% of total exports. The second position in the ranking was taken by Turkey ($X), with an 11% share of total exports. It was followed by the UK, with a 4.8% share.

From 2012 to 2022, the average annual growth rate of value to Canada amounted to +2.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+26.3% per year) and the UK (-4.9% per year).

Export Prices by Country

In 2022, the average gouges and chisels export price amounted to $X per ton, rising by 52% against the previous year. Overall, the export price posted a resilient expansion. The pace of growth was the most pronounced in 2020 an increase of 92% against the previous year. The export price peaked in 2022 and is likely to see steady growth in the near future.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to Mexico ($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 Canada (+30.9%), while the prices for the other major destinations experienced more modest paces of growth.

Gouges And Chisels Imports

Imports into the U.S.

In 2022, overseas purchases of planes, chisels and gouges for working wood decreased by -15.4% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, total imports indicated a measured expansion from 2012 to 2022: its volume increased at an average annual rate of +4.3% 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 +64.2% against 2013 indices. The growth pace was the most rapid in 2021 when imports increased by 34% against the previous year. As a result, imports reached the peak of X tons, and then reduced markedly in the following year.

In value terms, gouges and chisels imports stood at $X in 2022. The total import value increased at an average annual rate of +3.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when imports increased by 23% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are likely to see gradual growth in years to come.

Imports by Country

China (X tons), the UK (X tons) and Vietnam (X tons) were the main suppliers of gouges and chisels imports to the United States, with a combined 76% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +82.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of planes, chisels and gouges for working wood to the United States, comprising 41% of total imports. The second position in the ranking was held by the UK ($X), with a 17% share of total imports. It was followed by Vietnam, with a 9.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +2.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+2.8% per year) and Vietnam (+81.8% per year).

Import Prices by Country

The average gouges and chisels import price stood at $X per ton in 2022, growing by 19% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The import price peaked at $X per ton in 2015; however, from 2016 to 2022, import prices remained at a 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 Mexico ($X per ton), while the price for the UK ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+24.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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