CIS: Steel Spring Market 2025

Steel Spring Market Size in CIS

The CIS steel spring market skyrocketed to $X in 2021, growing by 24% against the previous year. The total consumption indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +4.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -17.1% against 2019 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Steel Spring Production in CIS

In value terms, steel spring production skyrocketed to $X in 2021 estimated in export price. The total production indicated a temperate expansion from 2012 to 2021: its value increased at an average annual rate of +4.0% 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 -19.0% against 2019 indices. The pace of growth appeared the most rapid in 2014 when the production volume increased by 37%. The level of production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Steel Spring Exports

Exports in CIS

In 2021, overseas shipments of steel springs and leaves for springs increased by 9.6% to X tons, rising for the sixth consecutive year after three years of decline. In general, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by 29% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, steel spring exports skyrocketed to $X in 2021. Overall, exports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 36%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

In 2021, Russia (X tons) represented the major exporter of steel springs and leaves for springs, generating 71% of total exports. It was distantly followed by Belarus (X tons), mixing up a 28% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to steel spring exports from Russia stood at -3.0%. At the same time, Belarus (+10.3%) displayed positive paces of growth. Moreover, Belarus emerged as the fastest-growing exporter exported in the CIS, with a CAGR of +10.3% from 2012-2021. Belarus (+17 p.p.) significantly strengthened its position in terms of the total exports, while Russia saw its share reduced by -17% from 2012 to 2021, respectively.

In value terms, Russia ($X) remains the largest steel spring supplier in the CIS, comprising 72% of total exports. The second position in the ranking was taken by Belarus ($X), with a 26% share of total exports.

In Russia, steel spring exports contracted by an average annual rate of -1.7% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in the CIS amounted to $X per ton, growing by 21% against the previous year. In general, the export price saw a relatively flat trend pattern. Over the period under review, the export prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Russia ($X per ton), while Belarus totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (+1.3%).

Steel Spring Imports

Imports in CIS

In 2021, overseas purchases of steel springs and leaves for springs decreased by -2.3% to X tons, falling for the second consecutive year after four years of growth. Total imports indicated tangible growth from 2012 to 2021: its volume increased at an average annual rate of +2.2% 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 -6.7% against 2019 indices. The most prominent rate of growth was recorded in 2017 when imports increased by 39% against the previous year. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, steel spring imports reached $X in 2021. Total imports indicated a modest expansion from 2012 to 2021: its value increased at an average annual rate of +1.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 when imports increased by 36% against the previous year. The level of import peaked in 2021 and is expected to retain growth in the near future.

Imports by Country

Russia represented the major importing country with an import of about X tons, which finished at 63% of total imports. Belarus (X tons) took a 15% share (based on physical terms) of total imports, which put it in second place, followed by Kazakhstan (12%). The following importers - Uzbekistan (X tons) and Moldova (X tons) - together made up 6.6% of total imports.

Imports into Russia increased at an average annual rate of +1.3% from 2012 to 2021. At the same time, Moldova (+7.2%), Belarus (+3.8%) and Kazakhstan (+2.3%) displayed positive paces of growth. Moreover, Moldova emerged as the fastest-growing importer imported in the CIS, with a CAGR of +7.2% from 2012-2021. By contrast, Uzbekistan (-10.0%) illustrated a downward trend over the same period. While the share of Uzbekistan (+4.3 p.p.) and Belarus (+2 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Russia (-5.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) constitutes the largest market for imported steel springs and leaves for springs in the CIS, comprising 68% of total imports. The second position in the ranking was held by Belarus ($X), with an 11% share of total imports. It was followed by Kazakhstan, with an 11% share.

From 2012 to 2021, the average annual growth rate of value in Russia was relatively modest. The remaining importing countries recorded the following average annual rates of imports growth: Belarus (+2.2% per year) and Kazakhstan (+3.8% per year).

Import Prices by Country

The import price in the CIS stood at $X per ton in 2021, increasing by 16% against the previous year. Overall, the import price, however, showed a mild curtailment. Over the period under review, import prices attained the maximum at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Uzbekistan ($X per ton), while Belarus ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Uzbekistan (+54.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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