World - Iron Or Steel Nuts (Including Self-Locking Nuts) - Market Analysis, Forecast, Size, Trends And Insights
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The article discusses the expected increase in demand for iron or steel nuts, including self-locking nuts, globally over the next eight years. Market performance is forecasted to expand with a CAGR of +0.5% in volume and +2.3% in value from 2022 to 2030. Consumption, production, imports, and exports of these nuts are analyzed, with insights on trends in key countries such as China, the United States, and Canada. The article also examines pricing trends and growth rates for various countries in the iron or steel nut market.
Market Forecast
Driven by increasing demand for iron or steel nuts (including self-locking nuts) worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +0.5% for the period from 2022 to 2030, which is projected to bring the market volume to 3.6M tons by the end of 2030.
In value terms, the market is forecast to increase with an anticipated CAGR of +2.3% for the period from 2022 to 2030, which is projected to bring the market value to $16B (in nominal prices) by the end of 2030.
Consumption
World Consumption of Iron Or Steel Nuts (Including Self-Locking Nuts)
After two years of growth, consumption of iron or steel nuts (including self-locking nuts) decreased by -5.2% to 3.5M tons in 2022. The total consumption volume increased at an average annual rate of +1.4% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. As a result, consumption reached the peak volume of 3.7M tons, and then declined in the following year.
The global metal self-locking nut market size fell slightly to $13.3B in 2022, waning by -2.2% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +1.7% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. As a result, consumption reached the peak level of $13.6B, and then declined in the following year.
Consumption By Country
The countries with the highest volumes of consumption in 2022 were China (731K tons), the United States (461K tons) and Canada (329K tons), with a combined 44% share of global consumption. India, Mexico, Indonesia, Brazil, Germany, Japan, the Netherlands, Spain, Turkey and Italy lagged somewhat behind, together comprising a further 36%.
From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +22.3%), while consumption for the other global leaders experienced more modest paces of growth.
In value terms, the United States ($1.8B), China ($1.7B) and Indonesia ($1.1B) appeared to be the countries with the highest levels of market value in 2022, with a combined 34% share of the global market. Japan, India, Mexico, Brazil, Germany, Canada, the Netherlands, Turkey, Spain and Italy lagged somewhat behind, together comprising a further 39%.
Among the main consuming countries, the Netherlands, with a CAGR of +21.6%, recorded the highest growth rate of market size over the period under review, while market for the other global leaders experienced more modest paces of growth.
The countries with the highest levels of metal self-locking nut per capita consumption in 2022 were Canada (8.5 kg per person), the Netherlands (4.6 kg per person) and Germany (1.5 kg per person).
From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +21.7%), while consumption for the other global leaders experienced more modest paces of growth.
Production
World Production of Iron Or Steel Nuts (Including Self-Locking Nuts)
In 2022, after two years of growth, there was decline in production of iron or steel nuts (including self-locking nuts), when its volume decreased by -0.6% to 3M tons. The total output volume increased at an average annual rate of +1.0% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2017 when the production volume increased by 21% against the previous year. Global production peaked at 3M tons in 2021, and then fell in the following year.
In value terms, metal self-locking nut production amounted to $12.2B in 2022 estimated in export price. The total output value increased at an average annual rate of +1.1% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2016 when the production volume increased by 7.6% against the previous year. Over the period under review, global production hit record highs at $12.4B in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.
Production By Country
The country with the largest volume of metal self-locking nut production was China (1.4M tons), comprising approx. 47% of total volume. Moreover, metal self-locking nut production in China exceeded the figures recorded by the second-largest producer, India (296K tons), fivefold. The third position in this ranking was taken by Taiwan (Chinese) (264K tons), with an 8.9% share.
From 2012 to 2022, the average annual rate of growth in terms of volume in China totaled +1.3%. In the other countries, the average annual rates were as follows: India (+2.8% per year) and Taiwan (Chinese) (+0.9% per year).
Imports
World Imports of Iron Or Steel Nuts (Including Self-Locking Nuts)
In 2022, the amount of iron or steel nuts (including self-locking nuts) imported worldwide declined to 2.1M tons, reducing by -5.7% on the year before. The total import volume increased at an average annual rate of +2.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of 34% against the previous year. As a result, imports reached the peak of 2.2M tons, and then reduced in the following year.
In value terms, metal self-locking nut imports rose notably to $8.2B in 2022. The total import value increased at an average annual rate of +3.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 24%. Global imports peaked in 2022 and are likely to see gradual growth in years to come.
Imports By Country
The United States (399K tons) and Canada (345K tons) were the key importers of iron or steel nuts (including self-locking nuts) in 2022, recording near 19% and 16% of total imports, respectively. It was distantly followed by Germany (164K tons), Mexico (150K tons) and the Netherlands (131K tons), together constituting a 21% share of total imports. Spain (72K tons), Italy (60K tons), Poland (47K tons), China (45K tons), Russia (45K tons), France (42K tons), South Korea (42K tons) and Japan (38K tons) held a relatively small share of total imports.
From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Spain (with a CAGR of +12.5%), while imports for the other global leaders experienced more modest paces of growth.
In value terms, the United States ($1.6B) constitutes the largest market for imported iron or steel nuts (including self-locking nuts) worldwide, comprising 19% of global imports. The second position in the ranking was held by Germany ($774M), with a 9.5% share of global imports. It was followed by Mexico, with a 7.7% share.
From 2012 to 2022, the average annual rate of growth in terms of value in the United States totaled +4.5%. The remaining importing countries recorded the following average annual rates of imports growth: Germany (+4.9% per year) and Mexico (+5.9% per year).
Import Prices By Country
In 2022, the average metal self-locking nut import price amounted to $3,882 per ton, with an increase of 19% against the previous year. In general, the import price showed a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.
There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was China ($12,221 per ton), while Canada ($1,110 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+2.3%), while the other global leaders experienced more modest paces of growth.
Exports
World Exports of Iron Or Steel Nuts (Including Self-Locking Nuts)
In 2022, shipments abroad of iron or steel nuts (including self-locking nuts) increased by 3.1% to 1.6M tons, rising for the second consecutive year after two years of decline. The total export volume increased at an average annual rate of +2.4% 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 2017 when exports increased by 48% against the previous year. The global exports peaked in 2022 and are expected to retain growth in the near future.
In value terms, metal self-locking nut exports expanded rapidly to $7.9B in 2022. The total export value increased at an average annual rate of +4.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of 24% against the previous year. The global exports peaked in 2022 and are likely to see gradual growth in years to come.
Exports By Country
China was the main exporting country with an export of around 699K tons, which reached 44% of total exports. Taiwan (Chinese) (269K tons) held a 17% share (based on physical terms) of total exports, which put it in second place, followed by Germany (7.1%) and Japan (4.9%). The United States (70K tons), the Netherlands (56K tons), South Korea (38K tons), Italy (31K tons), Turkey (29K tons) and India (27K tons) took a relatively small share of total exports.
Exports from China increased at an average annual rate of +4.2% from 2012 to 2022. At the same time, Turkey (+18.8%), Italy (+4.8%), the Netherlands (+4.4%), South Korea (+2.7%) and Germany (+2.3%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in the world, with a CAGR of +18.8% from 2012-2022. Taiwan (Chinese) and Japan experienced a relatively flat trend pattern. By contrast, India (-1.9%) and the United States (-2.1%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China increased by +7.1 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, China ($2B), Taiwan (Chinese) ($1.1B) and Germany ($964M) constituted the countries with the highest levels of exports in 2022, with a combined 52% share of global exports. The United States, Japan, Italy, South Korea, the Netherlands, Turkey and India lagged somewhat behind, together accounting for a further 30%.
Turkey, with a CAGR of +16.3%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.
Export Prices By Country
In 2022, the average metal self-locking nut export price amounted to $5,019 per ton, rising by 7.8% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.9%. The pace of growth was the most pronounced in 2016 an increase of 41%. As a result, the export price attained the peak level of $5,597 per ton. From 2017 to 2022, the average export prices failed to regain momentum.
Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United States ($13,054 per ton), while China ($2,838 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+6.0%), while the other global leaders experienced more modest paces of growth.
This report provides an in-depth analysis of the global metal self-locking nut market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 25941187 - Iron or steel nuts (including self-locking nuts) (excluding of stainless steel, turned from bars, rods, profiles, or wire, of solid section, of a hole diameter . 6 mm)
Country coverage:
Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:
- USA
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
+ the largest producing countries
Data coverage:
- Global market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Global production, split by region and country
- Global trade (exports and imports)
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- CONSUMPTION BY COUNTRY
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. GLOBAL PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
- PRODUCTION BY COUNTRY
8. GLOBAL IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. GLOBAL EXPORTS
The Largest Exporters on The Market and How They Succeed
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
11. COUNTRY PROFILES
The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO- United States
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
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LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption, By Country, 2018–2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Destination, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Origin, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Consumption, By Country, 2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Production, By Country, 2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, 2012–2023
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