Hungary: Market for Iron or Steel Flat Spiral or Discs Springs 2024

Market Size for Iron or Steel Flat Spiral or Discs Springs in Hungary

The Hungarian market for iron or steel flat spiral or discs springs soared to $X in 2021, increasing by 24% against the previous year. Over the period under review, consumption, however, recorded a abrupt slump. Metal spiral or discs spring consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Production of Iron or Steel Flat Spiral or Discs Springs in Hungary

In value terms, metal spiral or discs spring production amounted to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a deep reduction. The most prominent rate of growth was recorded in 2018 when the production volume increased by 85% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Exports of Iron or Steel Flat Spiral or Discs Springs

Exports from Hungary

In 2021, the amount of iron or steel flat spiral or discs springs exported from Hungary surged to X tons, rising by 24% against the previous year. Overall, exports saw a remarkable increase. The growth pace was the most rapid in 2013 when exports increased by 72% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in the near future.

In value terms, metal spiral or discs spring exports rose remarkably to $X in 2021. In general, total exports indicated a noticeable increase from 2012 to 2021: its value increased at an average annual rate of +3.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -27.6% against 2018 indices. The growth pace was the most rapid in 2013 with an increase of 35% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Austria (X tons), Germany (X tons) and the UK (X tons) were the main destinations of metal spiral or discs spring exports from Hungary, together comprising 76% of total exports. Mexico, Russia, South Africa, Romania, China, Poland and the United States lagged somewhat behind, together comprising a further 19%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Russia (with a CAGR of +192.2%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for metal spiral or discs spring exported from Hungary were Germany ($X), the UK ($X) and Austria ($X), together accounting for 58% of total exports. These countries were followed by Mexico, China, Romania, Russia, South Africa, Poland and the United States, which together accounted for a further 29%.

Russia, with a CAGR of +176.5%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for iron or steel flat spiral or discs springs stood at $X per ton in 2021, which is down by -12.1% against the previous year. In general, the export price saw a abrupt decline. The most prominent rate of growth was recorded in 2017 when the average export price increased by 9.5%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was the United States ($X per ton), while the average price for exports to Austria ($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 United States (+25.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Iron or Steel Flat Spiral or Discs Springs

Imports into Hungary

In 2021, approx. X tons of iron or steel flat spiral or discs springs were imported into Hungary; rising by 19% against the previous year. Overall, imports recorded a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, metal spiral or discs spring imports soared to $X in 2021. Over the period under review, imports, however, showed a slight descent. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Germany (X tons), Austria (X tons) and Croatia (X tons) were the main suppliers of metal spiral or discs spring imports to Hungary, with a combined 56% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Croatia (with a CAGR of +108.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of iron or steel flat spiral or discs springs to Hungary, comprising 43% of total imports. The second position in the ranking was taken by Romania ($X), with a 16% share of total imports. It was followed by China, with a 5.2% share.

From 2012 to 2021, the average annual growth rate of value from Germany amounted to -7.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Romania (+8.9% per year) and China (+39.0% per year).

Import Prices by Country

In 2021, the average import price for iron or steel flat spiral or discs springs amounted to $X per ton, increasing by 7.9% against the previous year. In general, the import price, however, recorded a perceptible shrinkage. The growth pace was the most rapid in 2013 when the average import price increased by 11%. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the Czech Republic ($X per ton), while the price for Austria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Czech Republic (+17.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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