Eastern Asia: Market for Iron or Steel Hot-Worked Helical Springs 2025

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

In 2021, the East Asian metal hot-worked helical spring market decreased by -1.4% to $X, falling for the fifth year in a row after two years of growth. In general, consumption recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2017 to 2021, the growth of the market remained at a somewhat lower figure.

Production of Iron or Steel Hot-Worked Helical Springs in Eastern Asia

In value terms, metal hot-worked helical spring production reduced slightly to $X in 2021 estimated in export price. Overall, production saw a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the production volume increased by 25% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2021, production growth failed to regain momentum.

Exports of Iron or Steel Hot-Worked Helical Springs

Exports in Eastern Asia

Metal hot-worked helical spring exports surged to X tons in 2021, increasing by 23% on the previous year's figure. Total exports indicated a strong increase from 2012 to 2021: its volume increased at an average annual rate of +5.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +76.1% against 2016 indices. The pace of growth appeared the most rapid in 2017 when exports increased by 34%. The volume of export peaked in 2021 and is likely to see steady growth in years to come.

In value terms, metal hot-worked helical spring exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +3.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China was the key exporter of iron or steel hot-worked helical springs in Eastern Asia, with the volume of exports resulting at X tons, which was approx. 77% of total exports in 2021. Japan (X tons) held a 15% share (based on physical terms) of total exports, which put it in second place, followed by South Korea (6.1%).

China was also the fastest-growing in terms of the iron or steel hot-worked helical springs exports, with a CAGR of +8.2% from 2012 to 2021. Japan experienced a relatively flat trend pattern. South Korea (-2.0%) illustrated a downward trend over the same period. China (+17 p.p.) significantly strengthened its position in terms of the total exports, while South Korea and Japan saw its share reduced by -5.5% and -10.5% from 2012 to 2021, respectively.

In value terms, the largest metal hot-worked helical spring supplying countries in Eastern Asia were China ($X), Japan ($X) and South Korea ($X), with a combined 94% share of total exports.

Among the main exporting countries, China, with a CAGR of +11.3%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per ton, remaining relatively unchanged against the previous year. In general, the export price continues to indicate a noticeable contraction. The pace of growth appeared the most rapid in 2016 when the export price increased by 12%. Over the period under review, the export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+2.9%), while the other leaders experienced a decline in the export price figures.

Imports of Iron or Steel Hot-Worked Helical Springs

Imports in Eastern Asia

In 2021, after four years of decline, there was growth in purchases abroad of iron or steel hot-worked helical springs, when their volume increased by 4.5% to X tons. The total import volume increased at an average annual rate of +1.1% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 with an increase of 14% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2021, the growth of imports failed to regain momentum.

In value terms, metal hot-worked helical spring imports expanded sharply to $X in 2021. The total import value increased at an average annual rate of +1.5% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The level of import peaked at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) was the major importer of iron or steel hot-worked helical springs, comprising 65% of total imports. South Korea (X tons) ranks second in terms of the total imports with a 14% share, followed by Japan (10%) and Taiwan (Chinese) (8.3%). Hong Kong SAR (X tons) held a relatively small share of total imports.

China experienced a relatively flat trend pattern with regard to volume of imports of iron or steel hot-worked helical springs. At the same time, Taiwan (Chinese) (+6.5%) and South Korea (+4.2%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +6.5% from 2012-2021. Japan experienced a relatively flat trend pattern. By contrast, Hong Kong SAR (-2.2%) illustrated a downward trend over the same period. From 2012 to 2021, the share of South Korea and Taiwan (Chinese) increased by +3.4 and +3.1 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported iron or steel hot-worked helical springs in Eastern Asia, comprising 72% of total imports. The second position in the ranking was taken by Japan ($X), with a 9.2% share of total imports. It was followed by South Korea, with an 8.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China was relatively modest. The remaining importing countries recorded the following average annual rates of imports growth: Japan (-0.0% per year) and South Korea (+1.7% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2021, surging by 9.6% against the previous year. Overall, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the import price increased by 13%. Over the period under review, import prices attained the peak figure in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+11.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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