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

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

In 2021, the Indonesian market for iron or steel flat spiral or discs springs was finally on the rise to reach $X after three years of decline. Over the period under review, consumption, however, recorded a perceptible descent. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

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

In value terms, metal spiral or discs spring production rose notably to $X in 2021 estimated in export price. In general, production, however, showed a pronounced contraction. The pace of growth appeared the most rapid in 2016 with an increase of 33% against the previous year. Metal spiral or discs spring production peaked at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Exports of Iron or Steel Flat Spiral or Discs Springs

Exports from Indonesia

In 2021, overseas shipments of iron or steel flat spiral or discs springs were finally on the rise to reach X tons after two years of decline. Overall, exports showed slight growth. The most prominent rate of growth was recorded in 2014 with an increase of 104%. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, metal spiral or discs spring exports soared to $X in 2021. In general, total exports indicated temperate growth from 2012 to 2021: its value increased at an average annual rate of +2.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 41% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

South Korea (X tons) was the main destination for metal spiral or discs spring exports from Indonesia, with a 91% share of total exports. Moreover, metal spiral or discs spring exports to South Korea exceeded the volume sent to the second major destination, Thailand (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to South Korea stood at +2.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+26.7% per year) and Japan (-8.2% per year).

In value terms, South Korea ($X) remains the key foreign market for iron or steel flat spiral or discs springs exports from Indonesia, comprising 60% of total exports. The second position in the ranking was taken by Thailand ($X), with a 14% share of total exports.

From 2012 to 2021, the average annual growth rate of value to South Korea amounted to +3.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+15.1% per year) and Japan (-8.8% 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, growing by 5.9% against the previous year. In general, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 an increase of 62% against the previous year. The export price peaked at $X per ton in 2017; however, from 2018 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Thailand ($X per ton), while the average price for exports to South Korea ($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 South Korea (+1.2%), while the prices for the other major destinations experienced a decline.

Imports of Iron or Steel Flat Spiral or Discs Springs

Imports into Indonesia

In 2021, purchases abroad of iron or steel flat spiral or discs springs was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, imports, however, continue to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2013 when imports increased by 33% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, metal spiral or discs spring imports skyrocketed to $X in 2021. Overall, imports, however, continue to indicate a deep reduction. Imports peaked at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

Japan (X tons), China (X tons) and Thailand (X tons) were the main suppliers of metal spiral or discs spring imports to Indonesia, with a combined 89% 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 Thailand (with a CAGR of +0.9%), while imports for the other leaders experienced a decline.

In value terms, Japan ($X) constituted the largest supplier of iron or steel flat spiral or discs springs to Indonesia, comprising 48% of total imports. The second position in the ranking was held by China ($X), with a 17% share of total imports. It was followed by Thailand, with a 17% share.

From 2012 to 2021, the average annual growth rate of value from Japan totaled -10.8%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+3.0% per year) and Thailand (+1.6% 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, picking up by 13% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.4%. The pace of growth was the most pronounced in 2019 when the average import price increased by 21%. The import price peaked in 2021 and is expected to retain growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+12.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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