Croatia: Steel Spring Market 2024

Steel Spring Market Size in Croatia

The Croatian steel spring market reduced to $X in 2021, shrinking by -7.4% against the previous year. Over the period under review, consumption, however, recorded a notable increase. Over the period under review, the market reached the peak level at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Steel Spring Production in Croatia

In value terms, steel spring production skyrocketed to $X in 2021 estimated in export price. In general, the total production indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +5.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +74.9% against 2016 indices. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Steel Spring Exports

Exports from Croatia

For the sixth consecutive year, Croatia recorded growth in shipments abroad of steel springs and leaves for springs, which increased by 29% to X tons in 2021. In general, exports continue to indicate a prominent increase. The pace of growth was the most pronounced in 2013 when exports increased by 36%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, steel spring exports skyrocketed to $X in 2021. Overall, total exports indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +10.2% 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 +87.5% against 2016 indices. The most prominent rate of growth was recorded in 2013 with an increase of 35% against the previous year. The exports peaked in 2021 and are expected to retain growth in years to come.

Exports by Country

Germany (X tons), Slovenia (X tons) and Italy (X tons) were the main destinations of steel spring exports from Croatia, together comprising 64% of total exports. These countries were followed by Austria, Bosnia and Herzegovina, Serbia and Romania, which together accounted for a further 22%.

From 2012 to 2021, the biggest increases were recorded for Romania (with a CAGR of +46.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for steel spring exported from Croatia were Slovenia ($X), Germany ($X) and Austria ($X), together comprising 60% of total exports. Italy, Bosnia and Herzegovina, Romania and Serbia lagged somewhat behind, together comprising a further 22%.

In terms of the main countries of destination, Romania, with a CAGR of +42.8%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average steel spring export price amounted to $X per ton, standing approx. at the previous year. In general, the export price, however, saw a mild downturn. The most prominent rate of growth was recorded in 2020 when the average export price increased by 8.7% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Romania ($X per ton), while the average price for exports to Serbia ($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 Serbia (+0.5%), while the prices for the other major destinations experienced more modest paces of growth.

Steel Spring Imports

Imports into Croatia

Steel spring imports into Croatia reached X tons in 2021, stabilizing at the previous year's figure. Over the period under review, imports continue to indicate prominent growth. The most prominent rate of growth was recorded in 2014 with an increase of 58%. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, steel spring imports soared to $X in 2021. In general, total imports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +6.4% 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 2014 with an increase of 27% against the previous year. Imports peaked in 2021 and are likely to see steady growth in the near future.

Imports by Country

Germany (X tons), Poland (X tons) and Turkey (X tons) were the main suppliers of steel spring imports to Croatia, together comprising 57% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of +61.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of steel springs and leaves for springs to Croatia, comprising 35% of total imports. The second position in the ranking was taken by Poland ($X), with a 16% share of total imports. It was followed by Italy, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany stood at +8.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+54.5% per year) and Italy (-4.6% per year).

Import Prices by Country

In 2021, the average steel spring import price amounted to $X per ton, picking up by 15% against the previous year. Overall, the import price, however, saw a perceptible descent. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a 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 Slovenia ($X per ton), while the price for Bulgaria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+1.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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