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

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

The Angolan metal hot-worked helical spring market surged to $X in 2021, increasing by 54% 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). Overall, consumption enjoyed a significant expansion. Metal hot-worked helical spring consumption peaked in 2021 and is likely to continue growth in the immediate term.

Exports of Iron or Steel Hot-Worked Helical Springs

Exports from Angola

In 2021, metal hot-worked helical spring exports from Angola declined notably to X kg, with a decrease of -26.9% against the previous year's figure. Over the period under review, exports continue to indicate a sharp curtailment. The growth pace was the most rapid in 2015 when exports increased by 415% against the previous year. Over the period under review, the exports hit record highs at X kg in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, metal hot-worked helical spring exports dropped dramatically to $X in 2021. Overall, exports showed a sharp setback. The pace of growth was the most pronounced in 2015 with an increase of 534%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

France (X kg) was the main destination for metal hot-worked helical spring exports from Angola, accounting for a 61% share of total exports. Moreover, metal hot-worked helical spring exports to France exceeded the volume sent to the second major destination, Belgium (X kg), twofold. The third position in this ranking was taken by Norway (X kg), with a 5.3% share.

From 2012 to 2021, the average annual growth rate of volume to France was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (+17.6% per year) and Norway (-38.5% per year).

In value terms, France ($X), Norway ($X) and Denmark ($X) constituted the largest markets for metal hot-worked helical spring exported from Angola worldwide, with a combined 98% share of total exports. These countries were followed by Belgium and Congo, which together accounted for a further 2.4%.

Belgium, with a CAGR of +37.0%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average metal hot-worked helical spring export price amounted to $X per ton, waning by -59.9% against the previous year. Over the period under review, the export price, however, recorded a moderate increase. The pace of growth appeared the most rapid in 2019 when the average export price increased by 179%. Over the period under review, the average export prices hit record highs at $X per ton in 2020, and then contracted rapidly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Norway ($X per ton), while the average price for exports to Belgium ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+361.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Iron or Steel Hot-Worked Helical Springs

Imports into Angola

In 2021, approx. X tons of iron or steel hot-worked helical springs were imported into Angola; increasing by 62% on the previous year. Over the period under review, imports posted significant growth. The pace of growth was the most pronounced in 2013 when imports increased by 430% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, metal hot-worked helical spring imports rose sharply to $X in 2021. Overall, imports posted a prominent expansion. The most prominent rate of growth was recorded in 2013 when imports increased by 221% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Turkey (X tons), China (X tons) and the United States (X kg) were the main suppliers of metal hot-worked helical spring imports to Angola, with a combined 99% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of +92.8%), while imports for the other leaders experienced mixed trend patterns.

In value terms, China ($X) constituted the largest supplier of iron or steel hot-worked helical springs to Angola, comprising 63% of total imports. The second position in the ranking was held by Turkey ($X), with a 17% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +27.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+64.1% per year) and the United States (-14.8% per year).

Import Prices by Country

The average metal hot-worked helical spring import price stood at $X per ton in 2021, which is down by -29.3% against the previous year. In general, the import price faced a abrupt decrease. The pace of growth was the most pronounced in 2016 when the average import price increased by 143%. As a result, import price reached the peak level of $X per ton. From 2017 to 2021, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+24.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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