Bangladesh: Market for Iron or Steel Leaf-Springs and Leaves 2024

Market Size for Iron or Steel Leaf-Springs and Leaves in Bangladesh

The Bangladeshi iron or steel leaf-spring market reduced notably to $X in 2022, with a decrease of -16.2% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, recorded prominent growth. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Exports of Iron or Steel Leaf-Springs and Leaves

Exports from Bangladesh

In 2022, exports of iron or steel leaf-springs and leaves from Bangladesh plummeted to X tons, declining by -36.8% against the year before. Overall, exports, however, enjoyed significant growth. The most prominent rate of growth was recorded in 2015 when exports increased by 565%. Over the period under review, the exports hit record highs at X tons in 2021, and then dropped notably in the following year.

In value terms, iron or steel leaf-spring exports declined rapidly to $X in 2022. In general, exports, however, showed a significant increase. The most prominent rate of growth was recorded in 2021 when exports increased by 674%. As a result, the exports reached the peak of $X, and then reduced remarkably in the following year.

Exports by Country

Saudi Arabia (X tons) was the main destination for iron or steel leaf-spring exports from Bangladesh, with a 43% share of total exports. Moreover, iron or steel leaf-spring exports to Saudi Arabia exceeded the volume sent to the second major destination, Lebanon (X kg), twofold. The United Arab Emirates (X kg) ranked third in terms of total exports with a 16% share.

From 2012 to 2022, the average annual growth rate of volume to Saudi Arabia amounted to +29.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lebanon (+70.5% per year) and the United Arab Emirates (+46.0% per year).

In value terms, Saudi Arabia ($X) remains the key foreign market for iron or steel leaf-springs and leaves exports from Bangladesh, comprising 50% of total exports. The second position in the ranking was taken by Lebanon ($X), with a 25% share of total exports. It was followed by Singapore, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Saudi Arabia totaled +38.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lebanon (+91.8% per year) and Singapore (+61.6% per year).

Export Prices by Country

The average iron or steel leaf-spring export price stood at $X per ton in 2022, with a decrease of -10.6% against the previous year. Over the period under review, the export price, however, saw moderate growth. The growth pace was the most rapid in 2021 an increase of 115%. As a result, the export price attained the peak level of $X per ton, and then contracted in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Lebanon ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+16.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Iron or Steel Leaf-Springs and Leaves

Imports into Bangladesh

In 2022, approx. X tons of iron or steel leaf-springs and leaves were imported into Bangladesh; falling by -9.1% against the previous year's figure. Overall, imports, however, posted a prominent increase. The most prominent rate of growth was recorded in 2014 when imports increased by 143% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, iron or steel leaf-spring imports reduced sharply to $X in 2022. In general, imports, however, recorded a resilient expansion. The most prominent rate of growth was recorded in 2014 when imports increased by 134% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), India (X tons) and Japan (X tons) were the main suppliers of iron or steel leaf-spring imports to Bangladesh, with a combined 98% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Japan (with a CAGR of +35.5%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest iron or steel leaf-spring suppliers to Bangladesh were India ($X), China ($X) and Japan ($X), with a combined 87% share of total imports.

China, with a CAGR of +29.1%, recorded 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 2022, the average iron or steel leaf-spring import price amounted to $X per ton, which is down by -9.6% against the previous year. Overall, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 29%. As a result, import price reached the peak level of $X per ton, and then fell in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+3.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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