CIS: Metal Spring Washer Market 2024

Metal Spring Washer Market Size in CIS

The CIS metal spring washer market rose sharply to $X in 2022, picking up by 6.2% against the previous year. In general, consumption, however, continues to indicate a pronounced contraction. The level of consumption peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Metal Spring Washer Production in CIS

In value terms, metal spring washer production rose slightly to $X in 2022 estimated in export price. Overall, production, however, showed a pronounced contraction. The pace of growth was the most pronounced in 2013 with an increase of 13%. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

Metal Spring Washer Exports

Exports in CIS

In 2022, metal spring washer exports in the CIS skyrocketed to X tons, rising by 36% on the year before. Overall, exports, however, continue to indicate a mild curtailment. The most prominent rate of growth was recorded in 2017 with an increase of 75% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, metal spring washer exports stood at $X in 2022. In general, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 94% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Russia prevails in exports structure, recording X tons, which was approx. 89% of total exports in 2022. It was distantly followed by Belarus (X tons), mixing up a 10% share of total exports.

Exports from Russia decreased at an average annual rate of -2.5% from 2012 to 2022. At the same time, Belarus (+8.8%) displayed positive paces of growth. Moreover, Belarus emerged as the fastest-growing exporter exported in the CIS, with a CAGR of +8.8% from 2012-2022. While the share of Belarus (+6.4 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Russia (-7.4 p.p.) displayed negative dynamics.

In value terms, Russia ($X) remains the largest metal spring washer supplier in the CIS, comprising 85% of total exports. The second position in the ranking was taken by Belarus ($X), with an 11% share of total exports.

In Russia, metal spring washer exports contracted by an average annual rate of -1.7% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in the CIS amounted to $X per ton, shrinking by -24.2% against the previous year. Export price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 when the export price increased by 46% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Belarus ($X per ton), while Russia stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belarus (+2.2%).

Metal Spring Washer Imports

Imports in CIS

Metal spring washer imports skyrocketed to X tons in 2022, jumping by 31% compared with the previous year's figure. Overall, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by 50% against the previous year. Over the period under review, imports attained the maximum at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, metal spring washer imports skyrocketed to $X in 2022. In general, imports showed prominent growth. The growth pace was the most rapid in 2017 when imports increased by 39%. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the near future.

Imports by Country

Kazakhstan (X tons) and Belarus (X tons) were the main importers of iron or steel spring washers in 2022, recording near 42% and 32% of total imports, respectively. It was distantly followed by Russia (X tons), committing an 11% share of total imports. Azerbaijan (X tons), Moldova (X tons), Uzbekistan (X tons) and Tajikistan (X tons) took a little share of total imports.

From 2012 to 2022, the biggest increases were recorded for Azerbaijan (with a CAGR of +34.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X) constitutes the largest market for imported iron or steel spring washers in the CIS, comprising 55% of total imports. The second position in the ranking was taken by Kazakhstan ($X), with a 19% share of total imports. It was followed by Belarus, with a 13% share.

In Russia, metal spring washer imports increased at an average annual rate of +3.7% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Kazakhstan (+17.5% per year) and Belarus (+6.1% per year).

Import Prices by Country

The import price in the CIS stood at $X per ton in 2022, waning by -11.9% against the previous year. Import price indicated strong growth from 2012 to 2022: its price increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, metal spring washer import price increased by +49.3% against 2018 indices. The most prominent rate of growth was recorded in 2021 when the import price increased by 66% against the previous year. As a result, import price attained the peak level of $X per ton, and then declined in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Russia ($X per ton), while Tajikistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uzbekistan (+28.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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