Eastern Asia: Market for Iron or Steel Flat Spiral or Discs Springs 2024

Market Size for Iron or Steel Flat Spiral or Discs Springs in Eastern Asia

The East Asian market for iron or steel flat spiral or discs springs rose remarkably to $X in 2021, picking up by 6.8% against the previous year. The market value increased at an average annual rate of +1.3% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations in certain years. The level of consumption peaked at $X in 2016; however, from 2017 to 2021, consumption stood at a somewhat lower figure.

Production of Iron or Steel Flat Spiral or Discs Springs in Eastern Asia

In value terms, metal spiral or discs spring production expanded markedly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.6% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The pace of growth was the most pronounced in 2016 when the production volume increased by 19% 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 Flat Spiral or Discs Springs

Exports in Eastern Asia

In 2021, approx. X tons of iron or steel flat spiral or discs springs were exported in Eastern Asia; increasing by 9.3% against 2020. The total export volume increased at an average annual rate of +3.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2019 when exports increased by 23% against the previous year. The volume of export peaked in 2021 and is likely to continue growth in the near future.

In value terms, metal spiral or discs spring exports soared to $X in 2021. The total export value increased at an average annual rate of +2.8% over the period from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China was the major exporting country with an export of around X tons, which reached 73% of total exports. Taiwan (Chinese) (X tons) took a 12% share (based on physical terms) of total exports, which put it in second place, followed by South Korea (8.3%) and Japan (5%). Hong Kong SAR (X tons) took a minor share of total exports.

From 2012 to 2021, average annual rates of growth with regard to metal spiral or discs spring exports from China stood at +3.8%. At the same time, Hong Kong SAR (+4.7%), South Korea (+3.7%) and Taiwan (Chinese) (+2.7%) displayed positive paces of growth. Moreover, Hong Kong SAR emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +4.7% from 2012-2021. By contrast, Japan (-5.0%) illustrated a downward trend over the same period. China (+4.9 p.p.) significantly strengthened its position in terms of the total exports, while Japan saw its share reduced by -5.4% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest metal spiral or discs spring supplier in Eastern Asia, comprising 49% of total exports. The second position in the ranking was taken by Japan ($X), with a 21% share of total exports. It was followed by Taiwan (Chinese), with a 16% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China totaled +7.9%. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (-3.9% per year) and Taiwan (Chinese) (+2.4% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2021, rising by 5.8% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 an increase of 9.5% against the previous year. The level of export peaked at $X per ton in 2016; however, from 2017 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, 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 (+3.9%), while the other leaders experienced mixed trends in the export price figures.

Imports of Iron or Steel Flat Spiral or Discs Springs

Imports in Eastern Asia

In 2021, supplies from abroad of iron or steel flat spiral or discs springs was finally on the rise to reach X tons after two years of decline. Overall, imports showed a relatively flat trend pattern. The volume of import peaked at X tons in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, metal spiral or discs spring imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +1.8% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The countries with the highest levels of metal spiral or discs spring imports in 2021 were China (X tons), South Korea (X tons), Japan (X tons), Hong Kong SAR (X tons) and Taiwan (Chinese) (X tons), together accounting for 100% of total import.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Hong Kong SAR (with a CAGR of +6.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constitutes the largest market for imported iron or steel flat spiral or discs springs in Eastern Asia, comprising 45% of total imports. The second position in the ranking was taken by South Korea ($X), with a 20% share of total imports. It was followed by Taiwan (Chinese), with a 13% share.

From 2012 to 2021, the average annual growth rate of value in China was relatively modest. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (+5.6% per year) and Taiwan (Chinese) (+9.1% per year).

Import Prices by Country

In 2021, the import price in Eastern Asia amounted to $X per ton, reducing by -3.5% against the previous year. Over the last nine years, it increased at an average annual rate of +1.1%. The pace of growth appeared the most rapid in 2016 an increase of 8.8% against the previous year. The level of import peaked at $X per ton in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was China ($X per ton), while Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+7.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :