Hong Kong SAR, China: Market for Iron or Steel Hot-Worked Helical Springs 2025

Market Size for Iron or Steel Hot-Worked Helical Springs in Hong Kong SAR, China

In 2021, after two years of growth, there was significant decline in the Hong Kong metal hot-worked helical spring market, when its value decreased by -12.8% to $X. In general, the total consumption indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +5.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +5.6% against 2018 indices. As a result, consumption reached the peak level of $X, and then contracted in the following year.

Production of Iron or Steel Hot-Worked Helical Springs in Hong Kong SAR, China

In value terms, metal hot-worked helical spring production declined to $X in 2021 estimated in export price. In general, the total production indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +6.5% 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 +11.2% against 2019 indices. The pace of growth appeared the most rapid in 2020 with an increase of 22%. As a result, production attained the peak level of $X, and then fell in the following year.

Exports of Iron or Steel Hot-Worked Helical Springs

Exports from Hong Kong SAR, China

In 2021, exports of iron or steel hot-worked helical springs from Hong Kong SAR amounted to X tons, increasing by 6.1% on the previous year. In general, exports, however, continue to indicate a perceptible descent. The most prominent rate of growth was recorded in 2018 with an increase of 21%. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, metal hot-worked helical spring exports skyrocketed to $X in 2021. Over the period under review, exports continue to indicate a buoyant increase. The pace of growth was the most pronounced in 2020 with an increase of 61% against the previous year. The exports peaked in 2021 and are likely to see steady growth in the near future.

Exports by Country

China (X tons) was the main destination for metal hot-worked helical spring exports from Hong Kong SAR, accounting for a 71% share of total exports. Moreover, metal hot-worked helical spring exports to China exceeded the volume sent to the second major destination, Japan (X tons), sevenfold. Malaysia (X tons) ranked third in terms of total exports with a 6.9% share.

From 2012 to 2021, the average annual growth rate of volume to China amounted to -3.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-1.2% per year) and Malaysia (-0.9% per year).

In value terms, China ($X) remains the key foreign market for iron or steel hot-worked helical springs exports from Hong Kong SAR, comprising 85% of total exports. The second position in the ranking was held by Japan ($X), with a 3.8% share of total exports. It was followed by Malaysia, with a 2.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value to China stood at +13.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+6.4% per year) and Malaysia (+12.9% per year).

Export Prices by Country

In 2021, the average metal hot-worked helical spring export price amounted to $X per ton, rising by 12% against the previous year. Over the period under review, the export price recorded prominent growth. The pace of growth was the most pronounced in 2013 when the average export price increased by 68% against the previous year. The export price peaked in 2021 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Singapore ($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 China (+17.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Iron or Steel Hot-Worked Helical Springs

Imports into Hong Kong SAR, China

After two years of growth, overseas purchases of iron or steel hot-worked helical springs decreased by -24.8% to X tons in 2021. Over the period under review, imports showed a perceptible decrease. The pace of growth appeared the most rapid in 2020 with an increase of 20%. As a result, imports reached the peak of X tons, and then dropped dramatically in the following year.

In value terms, metal hot-worked helical spring imports reached $X in 2021. Overall, imports, however, enjoyed buoyant growth. The most prominent rate of growth was recorded in 2020 with an increase of 76%. Imports peaked in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of metal hot-worked helical spring to Hong Kong SAR, with a 87% share of total imports. Moreover, metal hot-worked helical spring imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +1.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-13.7% per year) and the United States (-9.4% per year).

In value terms, China ($X) constituted the largest supplier of iron or steel hot-worked helical springs to Hong Kong SAR, comprising 79% of total imports. The second position in the ranking was held by the United States ($X), with a 7.9% share of total imports.

From 2012 to 2021, the average annual growth rate of value from China stood at +22.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+8.2% per year) and Germany (-16.2% per year).

Import Prices by Country

In 2021, the average metal hot-worked helical spring import price amounted to $X per ton, rising by 35% against the previous year. In general, the import price enjoyed a prominent expansion. The growth pace was the most rapid in 2020 when the average import price increased by 47% against the previous year. The import price peaked in 2021 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Germany ($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 (+20.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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