Angola: Steel Spring Market 2025

Steel Spring Market Size in Angola

The Angolan steel spring market skyrocketed to $X in 2021, jumping by 56% 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). Over the period under review, consumption showed a buoyant expansion. Steel spring consumption peaked in 2021 and is expected to retain growth in years to come.

Steel Spring Exports

Exports from Angola

In 2021, shipments abroad of steel springs and leaves for springs increased by 50% to X tons, rising for the second consecutive year after three years of decline. In general, exports continue to indicate a resilient expansion. The pace of growth appeared the most rapid in 2020 when exports increased by 335%. Over the period under review, the exports attained the maximum at X tons in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, steel spring exports soared to $X in 2021. Over the period under review, exports posted a strong increase. The most prominent rate of growth was recorded in 2015 with an increase of 867% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Democratic Republic of the Congo (X tons) was the main destination for steel spring exports from Angola, with a 70% share of total exports. Moreover, steel spring exports to Democratic Republic of the Congo exceeded the volume sent to the second major destination, France (X kg), more than tenfold. Norway (X kg) ranked third in terms of total exports with a 3.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Democratic Republic of the Congo totaled +21.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+216.8% per year) and Norway (+146.4% per year).

In value terms, the largest markets for steel spring exported from Angola were the United States ($X), Norway ($X) and France ($X), together accounting for 24% of total exports.

France, with a CAGR of +256.8%, saw the highest growth rate of the value of exports, among 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 steel spring export price amounted to $X per ton, picking up by 97% against the previous year. Overall, the export price, however, showed a noticeable curtailment. The pace of growth appeared the most rapid in 2017 an increase of 434% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2021, the 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 the United States ($X per ton), while the average price for exports to Democratic Republic of the Congo ($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 the United States (+16.0%), while the prices for the other major destinations experienced mixed trend patterns.

Steel Spring Imports

Imports into Angola

In 2021, approx. X tons of steel springs and leaves for springs were imported into Angola; jumping by 68% on 2020 figures. In general, imports showed a strong expansion. The most prominent rate of growth was recorded in 2017 with an increase of 161%. Imports peaked in 2021 and are likely to see gradual growth in years to come.

In value terms, steel spring imports soared to $X in 2021. Overall, imports, however, recorded a perceptible contraction. The pace of growth appeared the most rapid in 2013 when imports increased by 56%. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

China (X tons), Turkey (X tons) and Norway (X tons) were the main suppliers of steel spring imports to Angola, with a combined 89% 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 +86.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of steel springs and leaves for springs to Angola, comprising 37% of total imports. The second position in the ranking was held by Portugal ($X), with a 15% share of total imports. It was followed by Turkey, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +11.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Portugal (-8.6% per year) and Turkey (+57.0% per year).

Import Prices by Country

In 2021, the average steel spring import price amounted to $X per ton, which is down by -20.4% against the previous year. In general, the import price showed a abrupt setback. The pace of growth was the most pronounced in 2016 an increase of 70% against the previous year. As a result, import price attained the peak level of $X per ton. From 2017 to 2021, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Portugal (-2.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :