Hungary: Market for Iron or Steel Hot-Worked Helical Springs 2024

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

The Hungarian metal hot-worked helical spring market was estimated at $X in 2021, increasing by 6% against the previous year. Overall, consumption, however, showed a relatively flat trend pattern. Metal hot-worked helical spring consumption peaked at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Production of Iron or Steel Hot-Worked Helical Springs in Hungary

In value terms, metal hot-worked helical spring production rose to $X in 2021 estimated in export price. Over the period under review, production posted a strong expansion. The pace of growth appeared the most rapid in 2018 with an increase of 93% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a lower figure.

Exports of Iron or Steel Hot-Worked Helical Springs

Exports from Hungary

Metal hot-worked helical spring exports from Hungary rose markedly to X tons in 2021, growing by 14% compared with the year before. Overall, exports posted a significant increase. The most prominent rate of growth was recorded in 2014 with an increase of 46%. The exports peaked in 2021 and are expected to retain growth in years to come.

In value terms, metal hot-worked helical spring exports surged to $X in 2021. Over the period under review, exports showed a buoyant increase. The most prominent rate of growth was recorded in 2018 when exports increased by 32%. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Germany (X tons), Romania (X tons) and the Czech Republic (X tons) were the main destinations of metal hot-worked helical spring exports from Hungary, together accounting for 46% of total exports. These countries were followed by France, Spain, China, Poland, Austria, the Netherlands and Turkey, which together accounted for a further 41%.

From 2012 to 2021, the biggest increases were recorded for Austria (with a CAGR of +61.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) remains the key foreign market for iron or steel hot-worked helical springs exports from Hungary, comprising 29% of total exports. The second position in the ranking was held by China ($X), with an 11% share of total exports. It was followed by the Czech Republic, with a 9.4% share.

From 2012 to 2021, the average annual growth rate of value to Germany amounted to +11.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-2.5% per year) and the Czech Republic (+31.0% per year).

Export Prices by Country

The average metal hot-worked helical spring export price stood at $X per ton in 2021, surging by 7% against the previous year. Overall, the export price, however, saw a deep setback. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Turkey ($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 the Netherlands (+14.6%), 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 Hungary

In 2021, supplies from abroad of iron or steel hot-worked helical springs was finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. The total import volume increased at an average annual rate of +1.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2015 with an increase of 26% against the previous year. As a result, imports reached the peak of X tons. From 2016 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 +1.9% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2014 with an increase of 15%. Over the period under review, imports hit record highs at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Germany (X tons) constituted the largest supplier of metal hot-worked helical spring to Hungary, with a 59% share of total imports. Moreover, metal hot-worked helical spring imports from Germany exceeded the figures recorded by the second-largest supplier, Poland (X tons), sevenfold. The third position in this ranking was taken by the United States (X tons), with a 5.6% share.

From 2012 to 2021, the average annual growth rate of volume from Germany was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+38.8% per year) and the United States (+9.6% per year).

In value terms, Germany ($X) constituted the largest supplier of iron or steel hot-worked helical springs to Hungary, comprising 58% of total imports. The second position in the ranking was held by Poland ($X), with a 7.2% share of total imports. It was followed by Japan, with a 4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+39.1% per year) and Japan (+10.1% per year).

Import Prices by Country

The average metal hot-worked helical spring import price stood at $X per ton in 2021, increasing by 10% against the previous year. Overall, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the average import price increased by 20% against the previous year. The import price peaked at $X per ton in 2013; afterwards, it flattened through to 2021.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Japan ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+11.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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