Metal Self-Tapping Screw Market

The article discusses the increasing demand for iron or steel self-tapping screws worldwide, projecting a positive consumption trend over the next eight years. Market performance is forecasted to show growth in both volume and value, with a projected CAGR of +2.0% and +3.7% respectively from 2022 to 2030. The highest volumes of consumption in 2022 were in China, the United States, and Canada, with the United States being the largest importer and the largest market for imported self-tapping screws. The global market is also seeing growth in production and exports, with China, Taiwan (Chinese), and Germany being major exporters. Import and export prices have shown fluctuations, with noticeable growth recorded in certain countries. Overall, the global market for iron or steel self-tapping screws is expected to see steady growth in the coming years.

Market Forecast

Driven by increasing demand for iron or steel self-tapping screws worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +2.0% for the period from 2022 to 2030, which is projected to bring the market volume to 2.3M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.7% for the period from 2022 to 2030, which is projected to bring the market value to $9.2B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Iron Or Steel Self-Tapping Screws

In 2022, consumption of iron or steel self-tapping screws increased by 2.8% to 2M tons, rising for the second year in a row after two years of decline. The total consumption volume increased at an average annual rate of +1.7% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, global consumption reached the peak volume at 2.1M tons in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

The global metal self-tapping screw market revenue expanded markedly to $6.9B in 2022, increasing by 7.5% 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 +2.3% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2017 with an increase of 9.1%. Over the period under review, the global market reached the peak level in 2022 and is likely to see steady growth in the near future.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (416K tons), the United States (358K tons) and Canada (124K tons), together comprising 45% of global consumption. Indonesia, Russia, Japan, Germany, the UK, Italy, South Korea, the Netherlands, India and Thailand lagged somewhat behind, together accounting for a further 28%.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +36.0%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($1.2B), China ($904M) and Japan ($812M) constituted the countries with the highest levels of market value in 2022, with a combined 43% share of the global market. Germany, Indonesia, the UK, Italy, Russia, South Korea, Canada, the Netherlands, Thailand and India lagged somewhat behind, together accounting for a further 25%.

India, with a CAGR of +29.3%, recorded the highest rates of growth with regard to market size in terms of the main consuming countries 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-tapping screw per capita consumption in 2022 were Canada (3,210 kg per 1000 persons), the Netherlands (1,904 kg per 1000 persons) and the United States (1,069 kg per 1000 persons).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by India (with a CAGR of +34.5%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Iron Or Steel Self-Tapping Screws

For the third year in a row, the global market recorded growth in production of iron or steel self-tapping screws, which increased by 0.4% to 1.7M tons in 2022. The total output volume increased at an average annual rate of +2.0% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2017 when the production volume increased by 18% against the previous year. Over the period under review, global production reached the peak volume in 2022 and is expected to retain growth in the near future.

In value terms, metal self-tapping screw production totaled $5.7B in 2022 estimated in export price. The total output value increased at an average annual rate of +1.2% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2016 with an increase of 14% against the previous year. Global production peaked in 2022 and is expected to retain growth in years to come.

Production By Country

The country with the largest volume of metal self-tapping screw production was China (863K tons), accounting for 51% of total volume. Moreover, metal self-tapping screw production in China exceeded the figures recorded by the second-largest producer, Taiwan (Chinese) (298K tons), threefold. The third position in this ranking was held by Japan (79K tons), with a 4.6% share.

From 2012 to 2022, the average annual growth rate of volume in China amounted to +2.4%. The remaining producing countries recorded the following average annual rates of production growth: Taiwan (Chinese) (+8.5% per year) and Japan (-1.2% per year).

Imports

World Imports of Iron Or Steel Self-Tapping Screws

For the third consecutive year, the global market recorded growth in purchases abroad of iron or steel self-tapping screws, which increased by 2% to 1.4M tons in 2022. Overall, total imports indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of +6.0% 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 +15.6% against 2018 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 16% against the previous year. Global imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, metal self-tapping screw imports rose significantly to $5.1B in 2022. Over the period under review, total imports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +7.8% 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 +45.5% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 30% against the previous year. Global imports peaked in 2022 and are expected to retain growth in the near future.

Imports By Country

In 2022, the United States (415K tons) was the largest importer of iron or steel self-tapping screws, committing 29% of total imports. Canada (129K tons) ranks second in terms of the total imports with an 8.9% share, followed by Germany (8.2%) and Russia (5.9%). The Netherlands (42K tons), Italy (39K tons), Poland (37K tons), India (33K tons), France (32K tons), the Czech Republic (31K tons), Mexico (31K tons) and the UK (31K tons) followed a long way behind the leaders.

Imports into the United States increased at an average annual rate of +4.8% from 2012 to 2022. At the same time, India (+29.7%), the Netherlands (+15.3%), Italy (+7.4%), Poland (+7.1%), the UK (+6.9%), Germany (+6.6%), Canada (+5.6%), France (+4.3%), Russia (+3.0%), the Czech Republic (+2.6%) and Mexico (+1.3%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing importer imported in the world, with a CAGR of +29.7% from 2012-2022. From 2012 to 2022, the share of India and the Netherlands increased by +2 and +1.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($1.5B) constitutes the largest market for imported iron or steel self-tapping screws worldwide, comprising 29% of global imports. The second position in the ranking was held by Germany ($563M), with an 11% share of global imports. It was followed by France, with a 3.3% share.

From 2012 to 2022, the average annual growth rate of value in the United States totaled +8.6%. The remaining importing countries recorded the following average annual rates of imports growth: Germany (+7.2% per year) and France (+5.3% per year).

Import Prices By Country

In 2022, the average metal self-tapping screw import price amounted to $3,557 per ton, increasing by 9.7% against the previous year. Over the last decade, it increased at an average annual rate of +1.8%. The most prominent rate of growth was recorded in 2021 an increase of 12%. Global import price peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was France ($5,365 per ton), while Canada ($1,135 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+7.8%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Iron Or Steel Self-Tapping Screws

After ten years of growth, shipments abroad of iron or steel self-tapping screws decreased by -1.5% to 1.2M tons in 2022. Over the period under review, exports, however, recorded strong growth. The growth pace was the most rapid in 2021 when exports increased by 21% against the previous year. As a result, the exports attained the peak of 1.2M tons, and then declined in the following year.

In value terms, metal self-tapping screw exports rose significantly to $4.7B in 2022. Overall, exports, however, saw a resilient expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 32%. The global exports peaked in 2022 and are expected to retain growth in years to come.

Exports By Country

In 2022, China (462K tons), distantly followed by Taiwan (Chinese) (298K tons), Germany (92K tons) and the United States (56K tons) were the major exporters of iron or steel self-tapping screws, together committing 78% of total exports. The following exporters - the Czech Republic (52K tons), the Netherlands (21K tons) and Italy (18K tons) - together made up 7.7% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by the United States (with a CAGR of +17.1%), while the other global leaders experienced more modest paces of growth.

In value terms, China ($1.3B), Taiwan (Chinese) ($1B) and Germany ($800M) appeared to be the countries with the highest levels of exports in 2022, with a combined 67% share of global exports.

Among the main exporting countries, China, with a CAGR of +14.1%, saw the highest rates of growth with regard to the value of exports, 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-tapping screw export price amounted to $4,046 per ton, surging by 13% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Germany ($8,729 per ton), while the United States ($2,670 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+4.2%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform