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

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

In 2021, the Bangladeshi metal hot-worked helical spring market increased by 116% to $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, consumption recorded significant growth. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market remained at a somewhat lower figure.

Exports of Iron or Steel Hot-Worked Helical Springs

Exports from Bangladesh

In 2021, metal hot-worked helical spring exports from Bangladesh soared to X kg, picking up by 7,200% on the year before. Overall, exports saw a significant increase. As a result, the exports reached 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. Over the period under review, exports continue to indicate a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Singapore (X kg) was the main destination for metal hot-worked helical spring exports from Bangladesh, with a 54% share of total exports. Moreover, metal hot-worked helical spring exports to Singapore exceeded the volume sent to the second major destination, China (X kg), threefold. The third position in this ranking was taken by Canada (X kg), with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Singapore amounted to +45.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+34.4% per year) and Canada (+16.7% per year).

In value terms, the largest markets for metal hot-worked helical spring exported from Bangladesh were Singapore ($X), Canada ($X) and China ($X), with a combined 94% share of total exports. The Czech Republic and the United Arab Emirates lagged somewhat behind, together comprising a further 5.9%.

In terms of the main countries of destination, the Czech Republic, with a CAGR of +89.2%, recorded the highest rates of growth with regard to 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 average metal hot-worked helical spring export price stood at $X per ton in 2021, picking up by 99% against the previous year. Over the period under review, export price indicated a temperate increase from 2012 to 2021: its price increased at an average annual rate of +4.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to the United Arab Emirates ($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 Czech Republic (+54.6%), 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 Bangladesh

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. Over the period under review, imports posted significant growth. The pace of growth was the most pronounced in 2018 with an increase of 1,423% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, metal hot-worked helical spring imports surged to $X in 2021. Overall, imports posted a significant expansion. The most prominent rate of growth was recorded in 2018 when imports increased by 879%. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest metal hot-worked helical spring supplier to Bangladesh, with a 85% share of total imports. Moreover, metal hot-worked helical spring imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), more than tenfold. The third position in this ranking was taken by Russia (X tons), with a 4.6% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +69.3%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+48.2% per year) and Russia (-3.6% per year).

In value terms, Russia ($X) constituted the largest supplier of iron or steel hot-worked helical springs to Bangladesh, comprising 62% of total imports. The second position in the ranking was held by China ($X), with a 26% share of total imports. It was followed by India, with a 1.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Russia totaled +23.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+120.4% per year) and India (+71.8% per year).

Import Prices by Country

The average metal hot-worked helical spring import price stood at $X per ton in 2021, falling by -7.7% against the previous year. In general, the import price saw a perceptible curtailment. The most prominent rate of growth was recorded in 2019 when the average import price increased by 60% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+30.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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