Greece: Market for Iron or Steel Leaf-Springs and Leaves 2024

Market Size for Iron or Steel Leaf-Springs and Leaves in Greece

In 2022, the Greek iron or steel leaf-spring market increased by 1.3% to $X, rising for the second consecutive year after three years of decline. In general, consumption, however, showed a noticeable decline. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Production of Iron or Steel Leaf-Springs and Leaves in Greece

In value terms, iron or steel leaf-spring production contracted to $X in 2022 estimated in export price. Overall, production saw a pronounced curtailment. The pace of growth appeared the most rapid in 2016 with an increase of 27%. Iron or steel leaf-spring production peaked at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Exports of Iron or Steel Leaf-Springs and Leaves

Exports from Greece

After two years of growth, overseas shipments of iron or steel leaf-springs and leaves decreased by -27.6% to X tons in 2022. Overall, exports showed a abrupt descent. The pace of growth appeared the most rapid in 2017 when exports increased by 16% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, iron or steel leaf-spring exports contracted rapidly to $X in 2022. In general, exports continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2017 with an increase of 21% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Saudi Arabia (X tons), Romania (X tons) and Serbia (X tons) were the main destinations of iron or steel leaf-spring exports from Greece, together comprising 53% of total exports. Lithuania, Bulgaria, Russia, Poland, Croatia and Albania lagged somewhat behind, together accounting for a further 44%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Croatia (with a CAGR of +95.3%), while the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X), Romania ($X) and Lithuania ($X) constituted the largest markets for iron or steel leaf-spring exported from Greece worldwide, together comprising 54% of total exports.

Among the main countries of destination, Saudi Arabia, with a CAGR of +114.4%, 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 2022, the average iron or steel leaf-spring export price amounted to $X per ton, surging by 1.6% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 an increase of 8.1%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a lower figure.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Saudi Arabia ($X per ton) and Lithuania ($X per ton), while the average price for exports to Romania ($X per ton) and Serbia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Saudi Arabia (+54.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Iron or Steel Leaf-Springs and Leaves

Imports into Greece

In 2022, overseas purchases of iron or steel leaf-springs and leaves increased by 82% to X tons, rising for the second consecutive year after five years of decline. In general, imports continue to indicate a strong increase. The most prominent rate of growth was recorded in 2014 when imports increased by 202% against the previous year. Imports peaked at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, iron or steel leaf-spring imports skyrocketed to $X in 2022. Overall, imports recorded prominent growth. The most prominent rate of growth was recorded in 2014 with an increase of 120% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Turkey (X tons) constituted the largest iron or steel leaf-spring supplier to Greece, accounting for a 58% share of total imports. Moreover, iron or steel leaf-spring imports from Turkey exceeded the figures recorded by the second-largest supplier, China (X tons), fourfold. The third position in this ranking was held by Tunisia (X tons), with a 9.8% share.

From 2012 to 2022, the average annual growth rate of volume from Turkey totaled +20.8%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+26.1% per year) and Tunisia (-0.1% per year).

In value terms, Turkey ($X) constituted the largest supplier of iron or steel leaf-springs and leaves to Greece, comprising 53% of total imports. The second position in the ranking was held by China ($X), with a 7.3% share of total imports. It was followed by Tunisia, with a 6.8% share.

From 2012 to 2022, the average annual growth rate of value from Turkey stood at +23.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+25.1% per year) and Tunisia (+4.4% per year).

Import Prices by Country

The average iron or steel leaf-spring import price stood at $X per ton in 2022, surging by 6.9% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 an increase of 37%. Over the period under review, average import prices reached the maximum at $X per ton in 2019; however, from 2020 to 2022, 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 Italy ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Slovakia (+78.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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