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

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

The Asian metal hot-worked helical spring market expanded modestly to $X in 2021, picking up by 2.9% against the previous year. The market value increased at an average annual rate of +2.4% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

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

In value terms, metal hot-worked helical spring production stood at $X in 2021 estimated in export price. The total production indicated a moderate expansion from 2012 to 2021: its value increased at an average annual rate of +3.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -21.8% against 2019 indices. The pace of growth appeared the most rapid in 2016 when the production volume increased by 17% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Exports of Iron or Steel Hot-Worked Helical Springs

Exports in Asia

In 2021, shipments abroad of iron or steel hot-worked helical springs was finally on the rise to reach X tons after three years of decline. The total export volume increased at an average annual rate of +2.9% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, metal hot-worked helical spring exports surged to $X in 2021. The total export value increased at an average annual rate of +2.9% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China represented the main exporter of iron or steel hot-worked helical springs in Asia, with the volume of exports reaching X tons, which was approx. 62% of total exports in 2021. Japan (X tons) held the second position in the ranking, followed by Turkey (X tons) and South Korea (X tons). All these countries together held approx. 29% share of total exports. India (X tons) and Thailand (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 China stood at +8.2%. At the same time, India (+33.4%) and Thailand (+15.2%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Asia, with a CAGR of +33.4% from 2012-2021. Japan experienced a relatively flat trend pattern. By contrast, South Korea (-2.0%) and Turkey (-7.8%) illustrated a downward trend over the same period. From 2012 to 2021, the share of China and India increased by +22 and +3.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest metal hot-worked helical spring supplying countries in Asia were China ($X), Japan ($X) and South Korea ($X), together accounting for 83% of total exports. Turkey, Thailand and India lagged somewhat behind, together accounting for a further 7.6%.

Among the main exporting countries, India, with a CAGR of +21.0%, recorded the highest growth rate of the value of exports, 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 Asia stood at $X per ton in 2021, therefore, remained relatively stable against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the export price increased by 11% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2020, and then contracted slightly in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+3.2%), while the other leaders experienced mixed trends in the export price figures.

Imports of Iron or Steel Hot-Worked Helical Springs

Imports in Asia

In 2021, supplies from abroad of iron or steel hot-worked helical springs was finally on the rise to reach X tons after two years of decline. The total import volume increased at an average annual rate of +2.8% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The growth pace was the most rapid in 2013 when imports increased by 8.7% against the previous year. The volume of import peaked at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, metal hot-worked helical spring imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +3.2% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat 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

China represented the key importing country with an import of around X tons, which accounted for 27% of total imports. It was distantly followed by Turkey (X tons), Singapore (X tons), South Korea (X tons), Thailand (X tons), Vietnam (X tons) and Indonesia (X tons), together generating a 39% share of total imports. The following importers - Japan (X tons), Taiwan (Chinese) (X tons), Malaysia (X tons), Saudi Arabia (X tons), India (X tons) and the United Arab Emirates (X tons) - together made up 20% of total imports.

China experienced a relatively flat trend pattern with regard to volume of imports of iron or steel hot-worked helical springs. At the same time, Singapore (+22.5%), Vietnam (+19.4%), Taiwan (Chinese) (+6.5%), India (+5.5%), Saudi Arabia (+5.1%), South Korea (+4.2%), Turkey (+3.5%), Thailand (+3.4%) and the United Arab Emirates (+1.8%) displayed positive paces of growth. Moreover, Singapore emerged as the fastest-growing importer imported in Asia, with a CAGR of +22.5% from 2012-2021. Indonesia, Japan and Malaysia experienced a relatively flat trend pattern. From 2012 to 2021, the share of Singapore and Vietnam increased by +6.2 and +4.2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported iron or steel hot-worked helical springs in Asia, comprising 43% of total imports. The second position in the ranking was taken by Turkey ($X), with an 8.4% share of total imports. It was followed by Vietnam, with a 5.9% share.

In China, metal hot-worked helical spring imports remained relatively stable over the period from 2012-2021. In the other countries, the average annual rates were as follows: Turkey (+6.0% per year) and Vietnam (+18.4% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2021, rising by 12% against the previous year. In general, the import price showed a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+5.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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