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

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

The Australian metal hot-worked helical spring market contracted to $X in 2021, shrinking by -14.1% against the previous year. In general, the total consumption indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +3.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +17.7% against 2019 indices. Over the period under review, the market attained the maximum level at $X in 2020, and then shrank in the following year.

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

In value terms, metal hot-worked helical spring production contracted to $X in 2021 estimated in export price. In general, production, however, continues to indicate resilient growth. The most prominent rate of growth was recorded in 2017 with an increase of 40% against the previous year. Over the period under review, production reached the peak level at $X in 2020, and then shrank in the following year.

Exports of Iron or Steel Hot-Worked Helical Springs

Exports from Australia

In 2021, shipments abroad of iron or steel hot-worked helical springs increased by 74% to X tons for the first time since 2018, thus ending a two-year declining trend. In general, exports showed a buoyant expansion. The growth pace was the most rapid in 2017 when exports increased by 238%. The exports peaked in 2021 and are likely to see gradual growth in years to come.

In value terms, metal hot-worked helical spring exports skyrocketed to $X in 2021. Over the period under review, exports showed prominent growth. The pace of growth appeared the most rapid in 2017 with an increase of 252% against the previous year. The exports peaked in 2021 and are expected to retain growth in the near future.

Exports by Country

The United States (X tons) was the main destination for metal hot-worked helical spring exports from Australia, with a 55% share of total exports. Moreover, metal hot-worked helical spring exports to the United States exceeded the volume sent to the second major destination, the UK (X tons), sevenfold. The third position in this ranking was held by Belgium (X tons), with a 5.8% share.

From 2012 to 2021, the average annual growth rate of volume to the United States amounted to +50.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+77.6% per year) and Belgium (+30.5% per year).

In value terms, the United States ($X) remains the key foreign market for iron or steel hot-worked helical springs exports from Australia, comprising 56% of total exports. The second position in the ranking was taken by the UK ($X), with a 7.9% share of total exports. It was followed by Belgium, with a 5.8% share.

From 2012 to 2021, the average annual growth rate of value to the United States totaled +49.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+80.9% per year) and Belgium (+42.0% per year).

Export Prices by Country

The average metal hot-worked helical spring export price stood at $X per ton in 2021, dropping by -7.6% against the previous year. Over the period under review, export price indicated a tangible increase from 2012 to 2021: its price increased at an average annual rate of +4.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, metal hot-worked helical spring export price increased by +60.2% against 2015 indices. The pace of growth appeared the most rapid in 2016 an increase of 26%. The export price peaked at $X per ton in 2020, and then contracted in the following year.

Average prices varied somewhat for the major export markets. In 2021, amid the top suppliers, the highest price was recorded for prices to the United States ($X per ton) and New Zealand ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) and Saudi Arabia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+13.0%), 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 Australia

In 2021, purchases abroad of iron or steel hot-worked helical springs was finally on the rise to reach X tons after three years of decline. In general, imports, however, saw a abrupt decrease. The growth pace was the most rapid in 2017 with an increase of 91%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, metal hot-worked helical spring imports surged to $X in 2021. Over the period under review, total imports indicated a measured expansion from 2012 to 2021: its value increased at an average annual rate of +3.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +77.5% against 2015 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The United States (X tons), China (X tons) and Japan (X tons) were the main suppliers of metal hot-worked helical spring imports to Australia, with a combined 63% share of total imports. Germany, Indonesia, Mexico, Taiwan (Chinese), Spain, France, Thailand, the UK, South Korea and New Zealand lagged somewhat behind, together accounting for a further 29%.

From 2012 to 2021, the biggest increases were recorded for Indonesia (with a CAGR of +57.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), China ($X) and Japan ($X) constituted the largest metal hot-worked helical spring suppliers to Australia, with a combined 63% share of total imports. Germany, Indonesia, Mexico, Taiwan (Chinese), Spain, France, Thailand, the UK, South Korea and New Zealand lagged somewhat behind, together accounting for a further 29%.

Indonesia, with a CAGR of +76.5%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average metal hot-worked helical spring import price amounted to $X per ton, growing by 4.2% against the previous year. In general, the import price saw buoyant growth. The most prominent rate of growth was recorded in 2018 an increase of 83% against the previous year. The import price peaked in 2021 and is expected to retain growth in the near future.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Japan ($X per ton) and Mexico ($X per ton), while the price for South Korea ($X per ton) and Taiwan (Chinese) ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+20.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :