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

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

In 2021, the Chinese metal hot-worked helical spring market decreased by -0.7% to $X, falling for the second year in a row after two years of growth. The market value increased at an average annual rate of +3.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2017 to 2021, the growth of the market failed to regain momentum.

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

In value terms, metal hot-worked helical spring production totaled $X in 2021 estimated in export price. Over the period under review, the total production indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +4.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -0.4% against 2019 indices. The pace of growth was the most pronounced in 2016 when the production volume increased by 41% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2021, production growth remained at a lower figure.

Exports of Iron or Steel Hot-Worked Helical Springs

Exports from China

In 2021, overseas shipments of iron or steel hot-worked helical springs increased by 27% to X tons, rising for the fifth year in a row after two years of decline. Overall, total exports indicated strong growth from 2012 to 2021: its volume increased at an average annual rate of +8.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +112.1% against 2016 indices. The pace of growth appeared the most rapid in 2017 when exports increased by 48%. Over the period under review, the exports reached the peak figure in 2021 and are likely to see gradual growth in years to come.

In value terms, metal hot-worked helical spring exports surged to $X in 2021. In general, exports showed strong growth. The growth pace was the most rapid in 2014 when exports increased by 48%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for metal hot-worked helical spring exports from China, with a 14% share of total exports. Moreover, metal hot-worked helical spring exports to the United States exceeded the volume sent to the second major destination, Malaysia (X tons), twofold. Vietnam (X tons) ranked third in terms of total exports with a 6.5% share.

From 2012 to 2021, the average annual growth rate of volume to the United States totaled +6.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+13.9% per year) and Vietnam (+29.4% per year).

In value terms, the United States ($X) remains the key foreign market for iron or steel hot-worked helical springs exports from China, comprising 15% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 7.3% share of total exports. It was followed by Malaysia, with a 6.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States stood at +12.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+24.9% per year) and Malaysia (+19.8% per year).

Export Prices by Country

The average metal hot-worked helical spring export price stood at $X per ton in 2021, increasing by 2% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.9%. The most prominent rate of growth was recorded in 2014 an increase of 30%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Thailand ($X per ton), while the average price for exports to the UK ($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 Thailand (+7.8%), 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 China

In 2021, purchases abroad of iron or steel hot-worked helical springs increased by 1.2% to X tons, rising for the second consecutive year after three years of decline. In general, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 when imports increased by 19%. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports remained at a lower figure.

In value terms, metal hot-worked helical spring imports rose rapidly to $X in 2021. Overall, imports recorded a relatively flat trend pattern. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

Germany (X tons), Japan (X tons) and South Africa (X tons) were the main suppliers of metal hot-worked helical spring imports to China, together comprising 54% of total imports. These countries were followed by South Korea, Taiwan (Chinese), the United States, Hungary, the UK, Canada, Spain, France, Italy and Brazil, which together accounted for a further 36%.

From 2012 to 2021, the biggest increases were recorded for Hungary (with a CAGR of +25.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), Germany ($X) and the United States ($X) were the largest metal hot-worked helical spring suppliers to China, together accounting for 61% of total imports. These countries were followed by South Korea, Taiwan (Chinese), the UK, France, Italy, Spain, Canada, South Africa, Hungary and Brazil, which together accounted for a further 29%.

Hungary, with a CAGR of +19.5%, saw the highest growth rate of 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

The average metal hot-worked helical spring import price stood at $X per ton in 2021, picking up by 13% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average import price increased by 19% against the previous year. Over the period under review, average import prices hit record highs in 2021 and is expected to retain growth in the immediate term.

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 Italy ($X per ton), while the price for South Africa ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+12.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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