Philippines: Nail And Bolt Market 2024

Nail And Bolt Market Size in the Philippines

The Philippine nail and bolt market dropped slightly to $X in 2022, falling by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the maximum level at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Nail And Bolt Production in the Philippines

In value terms, nail and bolt production contracted to $X in 2022 estimated in export price. Overall, production, however, recorded modest growth. The growth pace was the most rapid in 2017 when the production volume increased by X%. Nail and bolt production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Nail And Bolt Exports

Exports from the Philippines

In 2022, overseas shipments of nails, tacks, staples, screws and bolts increased by X% to X tons, rising for the second year in a row after two years of decline. Over the period under review, exports showed a prominent expansion. The most prominent rate of growth was recorded in 2018 with an increase of X%. The exports peaked in 2022 and are likely to see gradual growth in years to come.

In value terms, nail and bolt exports declined to $X in 2022. In general, exports continue to indicate a resilient expansion. The pace of growth appeared the most rapid in 2018 when exports increased by X% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Japan (X tons) was the main destination for nail and bolt exports from the Philippines, accounting for a X% share of total exports. Moreover, nail and bolt exports to Japan exceeded the volume sent to the second major destination, the United States (X tons), sevenfold. The third position in this ranking was taken by France (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Japan stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and France (X% per year).

In value terms, Japan ($X) remains the key foreign market for nails, tacks, staples, screws and bolts exports from the Philippines, comprising X% of total exports. The second position in the ranking was taken by the United States ($X), with a X% share of total exports. It was followed by Germany, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Japan amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Germany (X% per year).

Export Prices by Country

The average nail and bolt export price stood at $X per ton in 2022, declining by X% against the previous year. Over the period under review, the export price showed a mild contraction. The pace of growth was the most pronounced in 2019 when the average export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a lower figure.

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

Nail And Bolt Imports

Imports into the Philippines

In 2022, overseas purchases of nails, tacks, staples, screws and bolts increased by X% to X tons, rising for the second year in a row after two years of decline. In general, imports continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, nail and bolt imports rose modestly to $X in 2022. Over the period under review, imports enjoyed buoyant growth. The growth pace was the most rapid in 2014 with an increase of X%. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

In 2022, China (X tons) constituted the largest nail and bolt supplier to the Philippines, with a X% share of total imports. Moreover, nail and bolt imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), more than tenfold. The third position in this ranking was taken by Japan (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (X% per year) and Japan (X% per year).

In value terms, the largest nail and bolt suppliers to the Philippines were China ($X), Japan ($X) and Singapore ($X), with a combined X% share of total imports. Taiwan (Chinese), Vietnam and South Korea lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, Vietnam, with a CAGR of X%, 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

In 2022, the average nail and bolt import price amounted to $X per ton, shrinking by X% against the previous year. In general, import price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, nail and bolt import price increased by X% against 2014 indices. The pace of growth appeared the most rapid in 2015 when the average import price increased by X%. Over the period under review, average import prices hit record highs at $X per ton in 2021, and then fell in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Singapore ($X per ton), while the price for China ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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