Ireland: Market for Iron or Steel Hot-Worked Helical Springs 2024

Market Size for Iron or Steel Hot-Worked Helical Springs in Ireland

In 2021, the Irish metal hot-worked helical spring market was finally on the rise to reach $X for the first time since 2017, thus ending a three-year declining trend. Overall, consumption recorded buoyant growth. Over the period under review, the market reached the maximum level at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Exports of Iron or Steel Hot-Worked Helical Springs

Exports from Ireland

In 2021, shipments abroad of iron or steel hot-worked helical springs increased by 46% to X tons, rising for the seventh consecutive year after two years of decline. Over the period under review, exports enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2018 with an increase of 144%. The exports peaked in 2021 and are likely to see steady growth in the near future.

In value terms, metal hot-worked helical spring exports skyrocketed to $X in 2021. In general, exports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 with an increase of 92% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the near future.

Exports by Country

The UK (X tons) was the main destination for metal hot-worked helical spring exports from Ireland, with a 47% share of total exports. Moreover, metal hot-worked helical spring exports to the UK exceeded the volume sent to the second major destination, France (X tons), fivefold. The United States (X tons) ranked third in terms of total exports with a 5.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the UK stood at +19.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+3.6% per year) and the United States (+7.4% per year).

In value terms, the largest markets for metal hot-worked helical spring exported from Ireland were the UK ($X), the United States ($X) and France ($X), together accounting for 52% of total exports. These countries were followed by India, Poland, Australia, the Netherlands, New Zealand, the Czech Republic, Chile, Finland, Germany and Russia, which together accounted for a further 22%.

India, with a CAGR of +153.8%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average metal hot-worked helical spring export price amounted to $X per ton, approximately mirroring the previous year. Over the period under review, the export price, however, continues to indicate a deep slump. The pace of growth was the most pronounced in 2014 when the average export price increased by 173% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to the Czech Republic ($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 Russia (+12.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Iron or Steel Hot-Worked Helical Springs

Imports into Ireland

In 2021, purchases abroad of iron or steel hot-worked helical springs was finally on the rise to reach X tons after three years of decline. In general, imports posted a prominent increase. The pace of growth was the most pronounced in 2017 when imports increased by 122%. As a result, imports attained the peak of X tons. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, metal hot-worked helical spring imports soared to $X in 2021. Over the period under review, imports continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2015 when imports increased by 76% against the previous year. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Turkey (X tons) constituted the largest metal hot-worked helical spring supplier to Ireland, with a 55% share of total imports. Moreover, metal hot-worked helical spring imports from Turkey exceeded the figures recorded by the second-largest supplier, the UK (X tons), threefold. The third position in this ranking was taken by Thailand (X tons), with a 5% share.

From 2012 to 2021, the average annual growth rate of volume from Turkey stood at +26.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+14.9% per year) and Thailand (+210.2% per year).

In value terms, Thailand ($X), the UK ($X) and the United States ($X) were the largest metal hot-worked helical spring suppliers to Ireland, with a combined 65% share of total imports.

Among the main suppliers, Thailand, with a CAGR of +172.5%, recorded the highest rates of growth with regard to 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

In 2021, the average metal hot-worked helical spring import price amounted to $X per ton, surging by 11% against the previous year. Over the period under review, import price indicated a perceptible expansion from 2012 to 2021: its price increased at an average annual rate of +2.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, metal hot-worked helical spring import price increased by +156.0% against 2017 indices. The most prominent rate of growth was recorded in 2018 an increase of 75% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Thailand ($X per ton), while the price for Turkey ($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 States (+8.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :