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

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

In 2022, after four years of decline, there was growth in the Brazilian iron or steel leaf-spring market, when its value increased by 1.6% to $X. Overall, consumption, however, recorded a noticeable downturn. As a result, consumption reached the peak level of $X. From 2016 to 2022, the growth of the market failed to regain momentum.

Production of Iron or Steel Leaf-Springs and Leaves in Brazil

In value terms, iron or steel leaf-spring production totaled $X in 2022 estimated in export price. In general, production, however, continues to indicate a pronounced decrease. The pace of growth was the most pronounced in 2015 when the production volume increased by 32%. As a result, production attained the peak level of $X. From 2016 to 2022, production growth remained at a somewhat lower figure.

Exports of Iron or Steel Leaf-Springs and Leaves

Exports from Brazil

In 2022, overseas shipments of iron or steel leaf-springs and leaves increased by 4.8% to X tons, rising for the second year in a row after four years of decline. Overall, exports enjoyed a prominent expansion. The pace of growth appeared the most rapid in 2016 with an increase of 116% against the previous year. As a result, the exports attained the peak of X tons. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, iron or steel leaf-spring exports soared to $X in 2022. Over the period under review, exports posted a buoyant expansion. The pace of growth appeared the most rapid in 2021 with an increase of 71%. Over the period under review, the exports attained the maximum in 2022 and are likely to see gradual growth in years to come.

Exports by Country

Argentina (X tons) was the main destination for iron or steel leaf-spring exports from Brazil, with a 43% share of total exports. Moreover, iron or steel leaf-spring exports to Argentina exceeded the volume sent to the second major destination, Paraguay (X tons), fourfold. Bolivia (X tons) ranked third in terms of total exports with a 9.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Argentina totaled +17.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Paraguay (+6.6% per year) and Bolivia (+17.0% per year).

In value terms, Argentina ($X) remains the key foreign market for iron or steel leaf-springs and leaves exports from Brazil, comprising 46% of total exports. The second position in the ranking was taken by Uruguay ($X), with a 9.1% share of total exports. It was followed by Peru, with a 9.1% share.

From 2012 to 2022, the average annual growth rate of value to Argentina amounted to +17.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Uruguay (+6.5% per year) and Peru (+7.5% per year).

Export Prices by Country

In 2022, the average iron or steel leaf-spring export price amounted to $X per ton, rising by 26% against the previous year. Overall, the export price, however, showed a slight curtailment. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Mexico ($X per ton), while the average price for exports to Germany ($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 Uruguay (+1.2%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Iron or Steel Leaf-Springs and Leaves

Imports into Brazil

In 2022, the amount of iron or steel leaf-springs and leaves imported into Brazil soared to X tons, jumping by 18% compared with the previous year's figure. In general, imports, however, showed a drastic downturn. The pace of growth appeared the most rapid in 2021 when imports increased by 69%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, iron or steel leaf-spring imports skyrocketed to $X in 2022. Overall, imports, however, saw a perceptible decrease. The pace of growth was the most pronounced in 2021 when imports increased by 73%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Spain (X tons) constituted the largest supplier of iron or steel leaf-spring to Brazil, accounting for a 59% share of total imports. Moreover, iron or steel leaf-spring imports from Spain exceeded the figures recorded by the second-largest supplier, Romania (X tons), sevenfold. The Czech Republic (X tons) ranked third in terms of total imports with an 8% share.

From 2012 to 2022, the average annual growth rate of volume from Spain totaled +19.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Romania (+65.1% per year) and the Czech Republic (+7.2% per year).

In value terms, Spain ($X) constituted the largest supplier of iron or steel leaf-springs and leaves to Brazil, comprising 52% of total imports. The second position in the ranking was held by Germany ($X), with an 8% share of total imports. It was followed by the Czech Republic, with a 7.6% share.

From 2012 to 2022, the average annual growth rate of value from Spain stood at +19.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-5.0% per year) and the Czech Republic (+10.4% per year).

Import Prices by Country

In 2022, the average iron or steel leaf-spring import price amounted to $X per ton, approximately equating the previous year. Over the last decade, it increased at an average annual rate of +2.7%. The pace of growth appeared the most rapid in 2016 when the average import price increased by 27%. As a result, import price attained the peak level of $X per ton. From 2017 to 2022, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Thailand ($X per ton), while the price for Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+35.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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