Asia-Pacific: Market for Iron or Steel Flat Spiral or Discs Springs 2024

Market Size for Iron or Steel Flat Spiral or Discs Springs in Asia-Pacific

In 2021, the Asia-Pacific market for iron or steel flat spiral or discs springs was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. The market value increased at an average annual rate of +1.4% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2017 to 2021, the growth of the market remained at a somewhat lower figure.

Production of Iron or Steel Flat Spiral or Discs Springs in Asia-Pacific

In value terms, metal spiral or discs spring production rose sharply to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.8% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2016 with an increase of 20%. As a result, production attained the peak level of $X. From 2017 to 2021, production growth remained at a somewhat lower figure.

Exports of Iron or Steel Flat Spiral or Discs Springs

Exports in Asia-Pacific

In 2021, approx. X tons of iron or steel flat spiral or discs springs were exported in Asia-Pacific; with an increase of 16% on 2020. In general, exports showed a relatively flat trend pattern. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, metal spiral or discs spring exports soared to $X in 2021. The total export value increased at an average annual rate of +2.1% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China dominates exports structure, resulting at X tons, which was near 55% of total exports in 2021. Taiwan (Chinese) (X tons) held a 9.1% share (based on physical terms) of total exports, which put it in second place, followed by Thailand (8.9%), India (6.4%) and South Korea (6.3%). Japan (X tons) and Malaysia (X tons) took a relatively small share of total exports.

China was also the fastest-growing in terms of the iron or steel flat spiral or discs springs exports, with a CAGR of +3.8% from 2012 to 2021. At the same time, South Korea (+3.7%) and Taiwan (Chinese) (+2.7%) displayed positive paces of growth. By contrast, India (-2.2%), Thailand (-2.6%), Malaysia (-2.6%) and Japan (-5.0%) illustrated a downward trend over the same period. China (+13 p.p.) significantly strengthened its position in terms of the total exports, while India, Japan and Thailand saw its share reduced by -2.1%, -2.7% and -3.3% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest metal spiral or discs spring supplier in Asia-Pacific, comprising 34% of total exports. The second position in the ranking was held by Japan ($X), with a 15% share of total exports. It was followed by Thailand, with a 12% share.

From 2012 to 2021, the average annual growth rate of value in China amounted to +7.9%. In the other countries, the average annual rates were as follows: Japan (-3.9% per year) and Thailand (+1.1% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2021, with an increase of 5.3% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.3%. The most prominent rate of growth was recorded in 2018 when the export price increased by 7.1%. As a result, the export price attained the peak level of $X per ton. From 2019 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+4.6%), while the other leaders experienced more modest paces of growth.

Imports of Iron or Steel Flat Spiral or Discs Springs

Imports in Asia-Pacific

In 2021, purchases abroad of iron or steel flat spiral or discs springs increased by 1.7% to X tons, rising for the third year in a row after two years of decline. Overall, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when imports increased by 11% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2021, the growth of imports failed to regain momentum.

In value terms, metal spiral or discs spring imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +1.5% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The countries with the highest levels of metal spiral or discs spring imports in 2021 were Malaysia (X tons), India (X tons) and Thailand (X tons), together resulting at 55% of total import. It was distantly followed by Vietnam (X tons) and China (X tons), together mixing up a 16% share of total imports. South Korea (X tons), Australia (X tons), Japan (X tons), Hong Kong SAR (X tons), Taiwan (Chinese) (X tons), Singapore (X tons), Indonesia (X tons) and the Philippines (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Vietnam (with a CAGR of +12.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest metal spiral or discs spring importing markets in Asia-Pacific were Thailand ($X), India ($X) and China ($X), with a combined 48% share of total imports. These countries were followed by Malaysia, Vietnam, South Korea, the Philippines, Australia, Singapore, Taiwan (Chinese), Japan, Hong Kong SAR and Indonesia, which together accounted for a further 48%.

In terms of the main importing countries, the Philippines, with a CAGR of +24.6%, recorded the highest rates of growth with regard to the value of imports, 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 Asia-Pacific stood at $X per ton in 2021, rising by 20% against the previous year. Over the last nine years, it increased at an average annual rate of +1.1%. The level of import peaked at $X per ton in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was the Philippines ($X per ton), while Malaysia ($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 (+20.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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