Africa: Market for Iron or Steel Hot-Worked Helical Springs 2024

Market Size for Iron or Steel Hot-Worked Helical Springs in Africa

After two years of decline, the African metal hot-worked helical spring market increased by 3% to $X in 2021. Overall, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Production of Iron or Steel Hot-Worked Helical Springs in Africa

In value terms, metal hot-worked helical spring production reached $X in 2021 estimated in export price. Over the period under review, production, however, saw a slight decline. The most prominent rate of growth was recorded in 2017 when the production volume increased by 12%. The level of production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Exports of Iron or Steel Hot-Worked Helical Springs

Exports in Africa

In 2021, overseas shipments of iron or steel hot-worked helical springs increased by 51% to X tons, rising for the second consecutive year after two years of decline. Overall, exports saw strong growth. The pace of growth was the most pronounced in 2014 with an increase of 68%. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, metal hot-worked helical spring exports soared to $X in 2021. Over the period under review, exports posted a prominent expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

South Africa was the key exporting country with an export of about X tons, which reached 83% of total exports. It was distantly followed by Egypt (X tons), committing a 12% share of total exports. Tunisia (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to metal hot-worked helical spring exports from South Africa stood at +9.6%. At the same time, Egypt (+80.9%) and Tunisia (+5.3%) displayed positive paces of growth. Moreover, Egypt emerged as the fastest-growing exporter exported in Africa, with a CAGR of +80.9% from 2012-2021. While the share of Egypt (+12 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of South Africa (-12.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) remains the largest metal hot-worked helical spring supplier in Africa, comprising 75% of total exports. The second position in the ranking was taken by Egypt ($X), with a 19% share of total exports.

From 2012 to 2021, the average annual growth rate of value in South Africa stood at +7.4%. In the other countries, the average annual rates were as follows: Egypt (+74.6% per year) and Tunisia (0.0% per year).

Export Prices by Country

The export price in Africa stood at $X per ton in 2021, growing by 7% against the previous year. Over the period under review, the export price, however, saw a slight slump. The most prominent rate of growth was recorded in 2013 when the export price increased by 29%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Egypt ($X per ton), while South Africa ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Africa (-2.0%), while the other leaders experienced a decline in the export price figures.

Imports of Iron or Steel Hot-Worked Helical Springs

Imports in Africa

In 2021, supplies from abroad of iron or steel hot-worked helical springs increased by 18% to X tons for the first time since 2018, thus ending a two-year declining trend. In general, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 25% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, metal hot-worked helical spring imports soared to $X in 2021. The total import value increased at an average annual rate of +3.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 when imports increased by 34% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, South Africa (X tons), distantly followed by Angola (X tons), Zimbabwe (X tons) and Kenya (X tons) were the major importers of iron or steel hot-worked helical springs, together creating 63% of total imports. Egypt (X tons), Algeria (X tons), Morocco (X tons), Ghana (X tons), Tunisia (X tons), Sudan (X tons), Mozambique (X tons), Senegal (X tons) and Libya (X tons) took a minor share of total imports.

From 2012 to 2021, the biggest increases were recorded for Angola (with a CAGR of +30.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, South Africa ($X) constitutes the largest market for imported iron or steel hot-worked helical springs in Africa, comprising 29% of total imports. The second position in the ranking was held by Tunisia ($X), with a 10% share of total imports. It was followed by Egypt, with an 8.4% share.

From 2012 to 2021, the average annual growth rate of value in South Africa stood at +3.2%. In the other countries, the average annual rates were as follows: Tunisia (+2.1% per year) and Egypt (-7.8% per year).

Import Prices by Country

The import price in Africa stood at $X per ton in 2021, increasing by 7% against the previous year. Over the last nine years, it increased at an average annual rate of +3.0%. The growth pace was the most rapid in 2014 an increase of 28% against the previous year. The level of import peaked at $X per ton in 2016; however, from 2017 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Tunisia ($X per ton), while Angola ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Egypt (+21.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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