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

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

In 2021, after two years of decline, there was significant growth in the Iranian market for iron or steel flat spiral or discs springs, when its value increased by 73% to $X. In general, consumption, however, showed a perceptible contraction. Metal spiral or discs spring consumption peaked at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Exports of Iron or Steel Flat Spiral or Discs Springs

Exports from Iran

In 2021, shipments abroad of iron or steel flat spiral or discs springs was finally on the rise to reach X tons after three years of decline. Overall, exports, however, recorded a slight curtailment. The most prominent rate of growth was recorded in 2016 when exports increased by 1,139% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, metal spiral or discs spring exports soared to $X in 2021. Over the period under review, exports, however, showed a pronounced slump. The most prominent rate of growth was recorded in 2016 with an increase of 1,291% against the previous year. Over the period under review, the exports attained the maximum at $X in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Russia (X tons), Egypt (X tons) and Afghanistan (X tons) were the main destinations of metal spiral or discs spring exports from Iran, together comprising 75% of total exports.

From 2012 to 2021, the biggest increases were recorded for Russia (with a CAGR of +56.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X) remains the key foreign market for iron or steel flat spiral or discs springs exports from Iran, comprising 43% of total exports. The second position in the ranking was taken by Afghanistan ($X), with a 13% share of total exports. It was followed by Kuwait, with a 13% share.

From 2012 to 2021, the average annual growth rate of value to Russia totaled +25.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Afghanistan (+30.3% per year) and Kuwait (-11.8% per year).

Export Prices by Country

The average export price for iron or steel flat spiral or discs springs stood at $X per ton in 2021, waning by -45.4% against the previous year. In general, the export price showed a mild downturn. The most prominent rate of growth was recorded in 2018 an increase of 61%. 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 failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Kuwait ($X per ton), while the average price for exports to Egypt ($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 Kuwait (+14.4%), 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 Iran

In 2021, supplies from abroad of iron or steel flat spiral or discs springs was finally on the rise to reach X tons after two years of decline. In general, imports, however, showed a deep downturn. The pace of growth appeared the most rapid in 2016 with an increase of 211%. Imports peaked at X tons in 2014; however, from 2015 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, however, showed a noticeable curtailment. The pace of growth was the most pronounced in 2016 when imports increased by 147% against the previous year. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest metal spiral or discs spring supplier to Iran, with a 47% share of total imports. Moreover, metal spiral or discs spring imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X tons), fourfold. Sweden (X tons) ranked third in terms of total imports with an 8.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to -7.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+9.3% per year) and Sweden (+48.7% per year).

In value terms, China ($X) constituted the largest supplier of iron or steel flat spiral or discs springs to Iran, comprising 29% of total imports. The second position in the ranking was held by Turkey ($X), with an 11% share of total imports. It was followed by Germany, with a 9.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+10.4% per year) and Germany (+0.3% per year).

Import Prices by Country

The average import price for iron or steel flat spiral or discs springs stood at $X per ton in 2021, surging by 57% against the previous year. Overall, import price indicated a notable increase from 2012 to 2021: its price increased at an average annual rate of +3.8% 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 import price increased by +16.2% against 2018 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+8.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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