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

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

The Japanese iron or steel leaf-spring market expanded slightly to $X in 2022, with an increase of 4.9% against the previous year. Overall, consumption, however, showed a pronounced slump. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

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

In value terms, iron or steel leaf-spring production rose to $X in 2022 estimated in export price. In general, production recorded a pronounced downturn. The most prominent rate of growth was recorded in 2018 with an increase of 73% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Iron or Steel Leaf-Springs and Leaves

Exports from Japan

In 2022, iron or steel leaf-spring exports from Japan shrank to X tons, dropping by -6.3% on 2021. Overall, exports showed a abrupt descent. The most prominent rate of growth was recorded in 2021 when exports increased by 52% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, iron or steel leaf-spring exports declined slightly to $X in 2022. In general, exports continue to indicate a drastic downturn. The pace of growth appeared the most rapid in 2021 when exports increased by 34%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for iron or steel leaf-spring exports from Japan, with a 70% share of total exports. Moreover, iron or steel leaf-spring exports to the United States exceeded the volume sent to the second major destination, Australia (X tons), tenfold. The third position in this ranking was held by China (X tons), with a 4.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled -2.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+3.3% per year) and China (-8.1% per year).

In value terms, the United States ($X), China ($X) and Australia ($X) constituted the largest markets for iron or steel leaf-spring exported from Japan worldwide, together accounting for 75% of total exports. Thailand, Portugal, Malaysia, the United Arab Emirates, Mexico, Taiwan (Chinese), the Philippines, South Africa and Germany lagged somewhat behind, together comprising a further 12%.

Portugal, with a CAGR of +7.0%, recorded 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

The average iron or steel leaf-spring export price stood at $X per ton in 2022, surging by 4.3% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 19%. Over the period under review, the average export prices reached the maximum at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Taiwan (Chinese) ($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 Germany (+30.2%), 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 Japan

In 2022, the amount of iron or steel leaf-springs and leaves imported into Japan expanded slightly to X tons, picking up by 2.2% against the year before. In general, imports, however, continue to indicate a slight curtailment. The most prominent rate of growth was recorded in 2021 when imports increased by 26%. Over the period under review, imports attained the maximum at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, iron or steel leaf-spring imports rose significantly to $X in 2022. Overall, imports, however, showed a slight reduction. The pace of growth was the most pronounced in 2021 with an increase of 25%. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Indonesia (X tons) was the main iron or steel leaf-spring supplier to Japan, accounting for a 91% share of total imports. Moreover, iron or steel leaf-spring imports from Indonesia exceeded the figures recorded by the second-largest supplier, South Korea (X tons), more than tenfold. The third position in this ranking was held by Thailand (X tons), with a 0.4% share.

From 2012 to 2022, the average annual growth rate of volume from Indonesia was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+96.8% per year) and Thailand (-29.9% per year).

In value terms, Indonesia ($X) constituted the largest supplier of iron or steel leaf-springs and leaves to Japan, comprising 84% of total imports. The second position in the ranking was taken by South Korea ($X), with a 4.7% share of total imports. It was followed by Thailand, with a 0.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Indonesia was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+56.2% per year) and Thailand (-30.7% per year).

Import Prices by Country

In 2022, the average iron or steel leaf-spring import price amounted to $X per ton, increasing by 8.9% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The import price peaked at $X per ton in 2012; afterwards, it flattened through to 2022.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+29.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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