Iran: Steel Spring Market 2025

Steel Spring Market Size in Iran

The Iranian steel spring market reached $X in 2021, with an increase of 10% against the previous year. The market value increased at an average annual rate of +1.8% over the period from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. Over the period under review, the market attained the maximum level at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Steel Spring Production in Iran

In value terms, steel spring production expanded sharply to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when the production volume increased by 20% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2021, production growth remained at a lower figure.

Steel Spring Exports

Exports from Iran

In 2021, shipments abroad of steel springs and leaves for springs was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Overall, exports, however, showed a deep reduction. The pace of growth appeared the most rapid in 2018 when exports increased by 388% against the previous year. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, steel spring exports surged to $X in 2021. Over the period under review, exports, however, saw a abrupt curtailment. The growth pace was the most rapid in 2018 with an increase of 231% against the previous year. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Kuwait (X tons), Ukraine (X tons) and Azerbaijan (X tons) were the main destinations of steel spring exports from Iran, with a combined 99% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Kuwait (with a CAGR of +53.7%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for steel spring exported from Iran were Kuwait ($X), Ukraine ($X) and Azerbaijan ($X), with a combined 93% share of total exports.

Among the main countries of destination, Azerbaijan, with a CAGR of +44.0%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average steel spring export price stood at $X per ton in 2021, surging by 11% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 21% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2017 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the average price for exports to Ukraine ($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 Ethiopia (+71.5%), while the prices for the other major destinations experienced more modest paces of growth.

Steel Spring Imports

Imports into Iran

In 2021, imports of steel springs and leaves for springs into Iran soared to X tons, picking up by 31% against the year before. In general, imports, however, continue to indicate a abrupt descent. The most prominent rate of growth was recorded in 2014 with an increase of 95% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2021, the growth of imports remained at a lower figure.

In value terms, steel spring imports surged to $X in 2021. Overall, imports, however, showed a deep slump. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of steel spring to Iran, with a 48% share of total imports. Moreover, steel spring imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X tons), threefold. Sweden (X tons) ranked third in terms of total imports with a 7.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to -7.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (-20.6% per year) and Sweden (+20.7% per year).

In value terms, China ($X) constituted the largest supplier of steel springs and leaves for springs to Iran, comprising 30% of total imports. The second position in the ranking was taken by Turkey ($X), with a 12% share of total imports. It was followed by Germany, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (-12.0% per year) and Germany (-7.0% per year).

Import Prices by Country

The average steel spring import price stood at $X per ton in 2021, growing by 42% against the previous year. In general, the import price saw a resilient increase. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Sweden ($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 United Arab Emirates (+16.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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