India: Market for Iron or Steel Flat Spiral or Discs Springs 2025

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

The Indian market for iron or steel flat spiral or discs springs expanded markedly to $X in 2021, with an increase of 6.1% against the previous year. In general, the total consumption indicated a noticeable increase from 2012 to 2021: its value increased at an average annual rate of +4.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -5.1% against 2019 indices. Metal spiral or discs spring consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

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

In value terms, metal spiral or discs spring production expanded remarkably to $X in 2021 estimated in export price. Overall, the total production indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -6.0% against 2019 indices. The pace of growth appeared the most rapid in 2016 when the production volume increased by 34% against the previous year. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Exports of Iron or Steel Flat Spiral or Discs Springs

Exports from India

After two years of decline, shipments abroad of iron or steel flat spiral or discs springs increased by 83% to X tons in 2021. Over the period under review, exports, however, saw a perceptible curtailment. The exports peaked at X tons in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, metal spiral or discs spring exports surged to $X in 2021. The total export value increased at an average annual rate of +1.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for metal spiral or discs spring exports from India, with a 27% share of total exports. Moreover, metal spiral or discs spring exports to the United States exceeded the volume sent to the second major destination, Canada (X tons), threefold. The third position in this ranking was taken by Germany (X tons), with a 7.8% share.

From 2012 to 2021, the average annual growth rate of volume to the United States totaled +3.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (-0.4% per year) and Germany (-4.9% per year).

In value terms, the United States ($X) remains the key foreign market for iron or steel flat spiral or discs springs exports from India, comprising 24% of total exports. The second position in the ranking was taken by Canada ($X), with a 10% share of total exports. It was followed by Japan, with a 9.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States amounted to +8.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+7.7% per year) and Japan (-3.6% per year).

Export Prices by Country

In 2021, the average export price for iron or steel flat spiral or discs springs amounted to $X per ton, waning by -9.7% against the previous year. In general, export price indicated a measured expansion from 2012 to 2021: its price increased at an average annual rate of +3.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, metal spiral or discs spring export price decreased by -17.7% against 2019 indices. The growth pace was the most rapid in 2014 when the average export price increased by 46%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Japan ($X per ton), while the average price for exports to Uganda ($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 Italy (+20.8%), 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 India

In 2021, supplies from abroad of iron or steel flat spiral or discs springs was finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. In general, imports, however, showed a noticeable contraction. The most prominent rate of growth was recorded in 2017 with an increase of 38%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, metal spiral or discs spring imports skyrocketed to $X in 2021. Overall, imports showed a relatively flat trend pattern. Imports peaked at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

China (X tons), Germany (X tons) and Japan (X tons) were the main suppliers of metal spiral or discs spring imports to India, together accounting for 80% of total imports. France, South Korea, Italy, Hong Kong SAR, the United States, the UK, Singapore, Thailand and Switzerland lagged somewhat behind, together comprising a further 15%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Hong Kong SAR (with a CAGR of +16.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), China ($X) and Japan ($X) constituted the largest metal spiral or discs spring suppliers to India, together accounting for 50% of total imports. These countries were followed by the United States, Hong Kong SAR, the UK, Italy, South Korea, Singapore, France, Thailand and Switzerland, which together accounted for a further 40%.

Hong Kong SAR, with a CAGR of +30.6%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average import price for iron or steel flat spiral or discs springs amounted to $X per ton, picking up by 2.8% against the previous year. Over the last nine years, it increased at an average annual rate of +3.9%. The pace of growth appeared the most rapid in 2018 when the average import price increased by 26%. Over the period under review, average import prices reached the peak figure at $X per ton in 2019; however, from 2020 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Switzerland (+27.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :