Report Update Nov 1, 2024

Dominican Republic - Steel Springs and Leaves for Springs - Market Analysis, Forecast, Size, Trends and Insights

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Dominican Republic: Steel Spring Market 2024

Steel Spring Market Size in the Dominican Republic

In 2021, after two years of decline, there was significant growth in the Dominican steel spring market, when its value increased by 28% to $X. Overall, consumption posted resilient growth. Over the period under review, the market attained the maximum level in 2021 and is expected to retain growth in the immediate term.

Steel Spring Exports

Exports from the Dominican Republic

In 2021, the amount of steel springs and leaves for springs exported from the Dominican Republic surged to X tons, jumping by 41% against 2020. Overall, exports recorded a significant increase. The growth pace was the most rapid in 2016 with an increase of 285% against the previous year. The exports peaked in 2021 and are likely to continue growth in the near future.

In value terms, steel spring exports skyrocketed to $X in 2021. Over the period under review, exports posted significant growth. The pace of growth was the most pronounced in 2019 when exports increased by 151% against the previous year. Over the period under review, the exports attained the peak figure 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 steel spring exports from the Dominican Republic, accounting for a 98% share of total exports. It was followed by Jamaica (X tons), with a 1.1% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to the United States stood at +63.7%.

In value terms, the United States ($X) remains the key foreign market for steel springs and leaves for springs exports from the Dominican Republic, comprising 95% of total exports. The second position in the ranking was held by Jamaica ($X), with a 2.2% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States totaled +56.3%.

Export Prices by Country

In 2021, the average steel spring export price amounted to $X per ton, growing by 26% against the previous year. Overall, the export price, however, showed a abrupt slump. The pace of growth was the most pronounced in 2014 an increase of 73% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Jamaica ($X per ton), while the average price for exports to the United States amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Jamaica (+2.8%).

Steel Spring Imports

Imports into the Dominican Republic

Steel spring imports into the Dominican Republic soared to X tons in 2021, jumping by 26% compared with 2020 figures. Overall, imports posted a significant expansion. The pace of growth was the most pronounced in 2019 when imports increased by 40% against the previous year. Imports peaked in 2021 and are expected to retain growth in the near future.

In value terms, steel spring imports surged to $X in 2021. Over the period under review, imports showed prominent growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, the United States (X tons) constituted the largest steel spring supplier to the Dominican Republic, with a 51% share of total imports. Moreover, steel spring imports from the United States exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. The third position in this ranking was held by El Salvador (X tons), with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States amounted to +23.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+36.8% per year) and El Salvador (+167.9% per year).

In value terms, the United States ($X) constituted the largest supplier of steel springs and leaves for springs to the Dominican Republic, comprising 70% of total imports. The second position in the ranking was taken by China ($X), with an 11% share of total imports. It was followed by El Salvador, with a 5.6% share.

From 2012 to 2021, the average annual growth rate of value from the United States stood at +18.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+19.4% per year) and El Salvador (+121.3% per year).

Import Prices by Country

In 2021, the average steel spring import price amounted to $X per ton, growing by 22% against the previous year. In general, the import price, however, saw a deep reduction. Over the period under review, average import prices attained the peak figure at $X per ton in 2016; however, from 2017 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Colombia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (-4.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for steel springs and leaves for springs in the world?

The countries with the highest volumes of in 2021 were Ethiopia, China and the United States, together comprising 64% of global consumption.

What are the largest producers of steel springs and leaves for springs in the world?

The countries with the highest volumes of in 2021 were Ethiopia, China and the United States, together accounting for 62% of global production.

What are the leading suppliers of steel springs and leaves for springs to the Dominican Republic?

In value terms, the largest steel spring suppliers to the Dominican Republic were the United States, China and the UK, together comprising 81% of total imports. Guatemala, Colombia, Germany and Italy lagged somewhat behind, together comprising a further 8%.

What are the leading importers of steel springs and leaves for springs from the Dominican Republic?

In value terms, the United States remains the key foreign market for steel spring exports from the Dominican Republic, comprising 73% of total exports. The second position in the ranking was occupied by Jamaica, with a 13% share of total exports.

What is the average export price for steel springs and leaves for springs in the Dominican Republic?

In 2021, the average steel spring export price amounted to $801 per ton, surging by 15% against the previous year.

What is the average import price for steel springs and leaves for springs in the Dominican Republic?

In 2021, the average steel spring import price amounted to $4,700 per ton, with a decrease of -35.4% against the previous year.

This report provides an in-depth analysis of the steel spring market in the Dominican Republic. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 25931613 - Iron or steel hot-worked laminated leaf-springs and leaves therefor
Prodcom 25931615 - Iron or steel hot-worked non-laminated leaf-springs and leaves therefor
Prodcom 25931617 - Iron or steel cold-formed leaf-springs and leaves therefor
Prodcom 25931631 - Iron or steel hot-worked helical springs
Prodcom 25931633 - Iron or steel cold-formed helical coil compression springs
Prodcom 25931635 - Iron or steel cold-formed helical coil tension springs
Prodcom 25931637 - Iron or steel cold-formed helical springs (excluding helical coil compression springs, helical coil tension springs)
Prodcom 25931653 - Iron or steel flat spiral springs
Prodcom 25931655 - Iron or steel discs springs
Prodcom 25931660 - Iron or steel springs (excluding leaf-springs and leaves therefor, helical springs, flat spiral springs, discs springs)

Country coverage:

Dominican Republic

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in the Dominican Republic
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023