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

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

The Indonesian iron or steel leaf-spring market was finally on the rise to reach $X in 2022, after five years of decline. Overall, consumption, however, saw a deep reduction. Iron or steel leaf-spring consumption peaked at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

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

In value terms, iron or steel leaf-spring production fell to $X in 2022 estimated in export price. Overall, production recorded a mild decline. The pace of growth was the most pronounced in 2015 when the production volume increased by 19%. Over the period under review, production reached the peak level 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 Indonesia

For the third consecutive year, Indonesia recorded growth in shipments abroad of iron or steel leaf-springs and leaves, which increased by 2.2% to X tons in 2022. In general, total exports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +50.6% against 2018 indices. The pace of growth appeared the most rapid in 2021 with an increase of 50%. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, iron or steel leaf-spring exports rose sharply to $X in 2022. Over the period under review, total exports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +74.4% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 52%. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in the near future.

Exports by Country

Japan (X tons) was the main destination for iron or steel leaf-spring exports from Indonesia, accounting for a 47% share of total exports. Moreover, iron or steel leaf-spring exports to Japan exceeded the volume sent to the second major destination, Thailand (X tons), threefold. The third position in this ranking was held by the United States (X tons), with an 18% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Japan was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+28.0% per year) and the United States (+28.6% per year).

In value terms, Japan ($X) remains the key foreign market for iron or steel leaf-springs and leaves exports from Indonesia, comprising 47% of total exports. The second position in the ranking was held by the United States ($X), with a 19% share of total exports. It was followed by Thailand, with a 14% share.

From 2012 to 2022, the average annual growth rate of value to Japan was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+33.8% per year) and Thailand (+25.5% per year).

Export Prices by Country

In 2022, the average iron or steel leaf-spring export price amounted to $X per ton, rising by 12% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. Over the period under review, the average export prices hit record highs at $X per ton in 2012; afterwards, it flattened through to 2022.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Australia ($X per ton), while the average price for exports to Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+4.0%), 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 Indonesia

In 2022, iron or steel leaf-spring imports into Indonesia surged to X tons, rising by 188% compared with the year before. Overall, imports posted a resilient increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, iron or steel leaf-spring imports soared to $X in 2022. In general, imports, however, saw a relatively flat trend pattern. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

China (X tons), France (X tons) and India (X tons) were the main suppliers of iron or steel leaf-spring imports to Indonesia, with a combined 24% share of total imports. Malaysia, Singapore, Italy, the Czech Republic, Japan, Taiwan (Chinese) and Vietnam lagged somewhat behind, together accounting for a further 13%.

From 2012 to 2022, the biggest increases were recorded for Italy (with a CAGR of +20.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest iron or steel leaf-spring suppliers to Indonesia were the Czech Republic ($X), China ($X) and Japan ($X), with a combined 21% share of total imports.

In terms of the main suppliers, the Czech Republic, with a CAGR of +12.9%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average iron or steel leaf-spring import price stood at $X per ton in 2022, declining by -43.6% against the previous year. Over the period under review, the import price showed a abrupt decline. The pace of growth was the most pronounced in 2020 when the average import price increased by 45% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+15.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :