SADC: Metal Self-Locking Nut Market 2024

Metal Self-Locking Nut Market Size in SADC

After two years of growth, the SADC metal self-locking nut market decreased by X% to $X in 2023. The market value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the maximum level at $X in 2022, and then shrank slightly in the following year.

Metal Self-Locking Nut Production in SADC

In value terms, metal self-locking nut production rose slightly to $X in 2023 estimated in export price. Over the period under review, production, however, recorded temperate growth. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Over the period under review, production attained the peak level at $X in 2021; however, from 2022 to 2023, production failed to regain momentum.

Metal Self-Locking Nut Exports

Exports in SADC

In 2023, exports of iron or steel nuts (including self-locking nuts) in SADC stood at X tons, therefore, remained relatively stable against 2022. Over the period under review, exports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when exports increased by X%. Over the period under review, the exports attained the maximum at X tons in 2013; however, from 2014 to 2023, the exports remained at a lower figure.

In value terms, metal self-locking nut exports skyrocketed to $X in 2023. Overall, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by X%. Over the period under review, the exports reached the maximum in 2023 and are likely to continue growth in the immediate term.

Exports by Country

South Africa dominates exports structure, resulting at X tons, which was near X% of total exports in 2023. Namibia (X tons) followed a long way behind the leaders.

South Africa experienced a relatively flat trend pattern with regard to volume of exports of iron or steel nuts (including self-locking nuts). Namibia (X%) illustrated a downward trend over the same period. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) remains the largest metal self-locking nut supplier in SADC, comprising X% of total exports. The second position in the ranking was held by Namibia ($X), with a X% share of total exports.

From 2012 to 2023, the average annual rate of growth in terms of value in South Africa was relatively modest.

Export Prices by Country

In 2023, the export price in SADC amounted to $X per ton, increasing by X% against the previous year. Over the last eleven years, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. The level of export peaked in 2023 and is likely to see steady growth in the near future.

Average prices varied somewhat amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was South Africa ($X per ton), while Namibia stood at $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Namibia (X%).

Metal Self-Locking Nut Imports

Imports in SADC

In 2023, after two years of growth, there was significant decline in supplies from abroad of iron or steel nuts (including self-locking nuts), when their volume decreased by X% to X tons. Overall, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The volume of import peaked at X tons in 2022, and then reduced in the following year.

In value terms, metal self-locking nut imports reduced slightly to $X in 2023. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, imports attained the maximum at $X in 2022, and then contracted in the following year.

Imports by Country

In 2023, South Africa (X tons) was the major importer of iron or steel nuts (including self-locking nuts), creating X% of total imports. Tanzania (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Zimbabwe (X%). The following importers - Mozambique (X tons), Zambia (X tons), Botswana (X tons) and Democratic Republic of the Congo (X tons) - together made up X% of total imports.

South Africa experienced a relatively flat trend pattern with regard to volume of imports of iron or steel nuts (including self-locking nuts). At the same time, Mozambique (X%), Zimbabwe (X%), Botswana (X%) and Democratic Republic of the Congo (X%) displayed positive paces of growth. Moreover, Mozambique emerged as the fastest-growing importer imported in SADC, with a CAGR of X% from 2012-2023. Zambia experienced a relatively flat trend pattern. By contrast, Tanzania (X%) illustrated a downward trend over the same period. While the share of Zimbabwe (X p.p.) and Mozambique (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of South Africa (X p.p.) and Tanzania (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) constitutes the largest market for imported iron or steel nuts (including self-locking nuts) in SADC, comprising X% of total imports. The second position in the ranking was taken by Zambia ($X), with a X% share of total imports. It was followed by Democratic Republic of the Congo, with a X% share.

In South Africa, metal self-locking nut imports remained relatively stable over the period from 2012-2023. The remaining importing countries recorded the following average annual rates of imports growth: Zambia (X% per year) and Democratic Republic of the Congo (X% per year).

Import Prices by Country

In 2023, the import price in SADC amounted to $X per ton, picking up by X% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. Over the period under review, import prices reached the peak figure at $X per ton in 2013; afterwards, it flattened through to 2023.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Democratic Republic of the Congo ($X per ton), while Tanzania ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Botswana (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform