ASEAN: Market for Iron or Steel Hot-Worked Helical Springs 2025

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

In 2021, after two years of decline, there was significant growth in the ASEAN metal hot-worked helical spring market, when its value increased by 14% to $X. The market value increased at an average annual rate of +2.1% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

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

In value terms, metal hot-worked helical spring production expanded markedly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.2% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when the production volume increased by 33% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2021, production growth failed to regain momentum.

Exports of Iron or Steel Hot-Worked Helical Springs

Exports in ASEAN

In 2021, overseas shipments of iron or steel hot-worked helical springs were finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Total exports indicated a moderate increase from 2012 to 2021: its volume increased at an average annual rate of +3.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 with an increase of 52% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, metal hot-worked helical spring exports surged to $X in 2021. Total exports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +5.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 when exports increased by 48% against the previous year. The level of export peaked in 2021 and is expected to retain growth in the immediate term.

Exports by Country

Thailand was the main exporter of iron or steel hot-worked helical springs in ASEAN, with the volume of exports resulting at X tons, which was near 43% of total exports in 2021. Indonesia (X tons) took a 25% share (based on physical terms) of total exports, which put it in second place, followed by Malaysia (15%), Singapore (11%) and Vietnam (4.6%).

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Thailand (with a CAGR of +15.2%), while the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), Singapore ($X) and Indonesia ($X) appeared to be the countries with the highest levels of exports in 2021, with a combined 85% share of total exports. Malaysia and Vietnam lagged somewhat behind, together accounting for a further 14%.

Vietnam, with a CAGR of +16.4%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2021, growing by 3.4% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.4%. The pace of growth appeared the most rapid in 2017 when the export price increased by 19%. The level of export peaked in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+3.6%), while the other leaders experienced more modest paces of growth.

Imports of Iron or Steel Hot-Worked Helical Springs

Imports in ASEAN

In 2021, after two years of decline, there was significant growth in supplies from abroad of iron or steel hot-worked helical springs, when their volume increased by 43% to X tons. Total imports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +6.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, metal hot-worked helical spring imports soared to $X in 2021. Total imports indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +6.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The purchases of the five major importers of iron or steel hot-worked helical springs, namely Singapore, Thailand, Vietnam, Indonesia and Malaysia, represented more than two-thirds of total import. The Philippines (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Singapore (with a CAGR of +22.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest metal hot-worked helical spring importing markets in ASEAN were Vietnam ($X), Indonesia ($X) and Thailand ($X), with a combined 73% share of total imports.

Vietnam, with a CAGR of +18.4%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2021, falling by -8.7% against the previous year. In general, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the import price increased by 6.8%. The level of import peaked at $X per ton in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Indonesia ($X per ton), while Singapore ($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 Philippines (+15.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform