Belarus: Steel Spring Market 2024

Steel Spring Market Size in Belarus

The Belarusian steel spring market rose rapidly to $X in 2021, picking up by 8% against the previous year. Overall, consumption continues to indicate a pronounced shrinkage. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Steel Spring Production in Belarus

In value terms, steel spring production stood at $X in 2021 estimated in export price. Overall, production, however, saw a deep downturn. The most prominent rate of growth was recorded in 2016 when the production volume increased by 24% against the previous year. Steel spring production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Steel Spring Exports

Exports from Belarus

In 2021, after two years of decline, there was significant growth in shipments abroad of steel springs and leaves for springs, when their volume increased by 10% to X tons. Overall, exports saw a buoyant increase. The most prominent rate of growth was recorded in 2015 when exports increased by 26%. Over the period under review, the exports hit record highs in 2021 and are likely to see steady growth in years to come.

In value terms, steel spring exports skyrocketed to $X in 2021. Over the period under review, total exports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +7.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when exports increased by 32%. Over the period under review, the exports hit record highs in 2021 and are likely to see steady growth in the near future.

Exports by Country

Russia (X tons) was the main destination for steel spring exports from Belarus, accounting for a 75% share of total exports. Moreover, steel spring exports to Russia exceeded the volume sent to the second major destination, Ukraine (X tons), fourfold.

From 2012 to 2021, the average annual growth rate of volume to Russia amounted to +8.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ukraine (+29.5% per year) and Kazakhstan (+22.4% per year).

In value terms, Russia ($X) remains the key foreign market for steel springs and leaves for springs exports from Belarus, comprising 79% of total exports. The second position in the ranking was held by Ukraine ($X), with a 16% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Russia totaled +6.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ukraine (+19.0% per year) and Kazakhstan (+14.0% per year).

Export Prices by Country

The average steel spring export price stood at $X per ton in 2021, picking up by 19% against the previous year. Over the period under review, the export price, however, recorded a pronounced decline. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Average prices varied somewhat for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Ukraine ($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 Russia (-1.8%), while the prices for the other major destinations experienced a decline.

Steel Spring Imports

Imports into Belarus

Steel spring imports into Belarus amounted to X tons in 2021, almost unchanged from 2020 figures. Overall, total imports indicated a temperate expansion from 2012 to 2021: its volume 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, imports decreased by -6.4% against 2019 indices. The most prominent rate of growth was recorded in 2017 when imports increased by 25% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, steel spring imports surged to $X in 2021. Over the period under review, total imports indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +2.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 when imports increased by 33% against the previous year. Imports peaked in 2021 and are expected to retain growth in the immediate term.

Imports by Country

Russia (X tons), Poland (X tons) and China (X tons) were the main suppliers of steel spring imports to Belarus, with a combined 88% share of total imports. These countries were followed by Turkey, Germany and Ukraine, which together accounted for a further 5.1%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of +26.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X) constituted the largest supplier of steel springs and leaves for springs to Belarus, comprising 55% of total imports. The second position in the ranking was taken by Poland ($X), with a 20% share of total imports. It was followed by China, with a 7.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Russia stood at +4.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+5.1% per year) and China (+5.6% per year).

Import Prices by Country

In 2021, the average steel spring import price amounted to $X per ton, picking up by 17% against the previous year. In general, the import price, however, recorded a slight slump. Over the period under review, average import prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ukraine (+14.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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