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

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

In 2022, the Malaysian iron or steel leaf-spring market decreased by -7.1% to $X for the first time since 2019, thus ending a two-year rising trend. Over the period under review, the total consumption indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +14.3% against 2019 indices. Iron or steel leaf-spring consumption peaked at $X in 2021, and then shrank in the following year.

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

In value terms, iron or steel leaf-spring production dropped slightly to $X in 2022 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2015 when the production volume increased by 28%. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Exports of Iron or Steel Leaf-Springs and Leaves

Exports from Malaysia

In 2022, overseas shipments of iron or steel leaf-springs and leaves were finally on the rise to reach X tons for the first time since 2018, thus ending a three-year declining trend. Over the period under review, exports, however, showed a abrupt shrinkage. The growth pace was the most rapid in 2018 with an increase of 11% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2022, the growth of the exports failed to regain momentum.

In value terms, iron or steel leaf-spring exports contracted slightly to $X in 2022. Overall, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 18% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Australia (X tons), the United States (X tons) and Thailand (X tons) were the main destinations of iron or steel leaf-spring exports from Malaysia, together comprising 50% of total exports. South Korea, Russia, Germany, Yemen, Singapore, Mexico, Vietnam, Guatemala, Hong Kong SAR and Taiwan (Chinese) lagged somewhat behind, together comprising a further 36%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Guatemala (with a CAGR of +35.7%), while the other leaders experienced more modest paces of growth.

In value terms, Australia ($X), the United States ($X) and Thailand ($X) constituted the largest markets for iron or steel leaf-spring exported from Malaysia worldwide, with a combined 52% share of total exports. Russia, South Korea, Germany, Yemen, Singapore, Mexico, Guatemala, Hong Kong SAR, Taiwan (Chinese) and Vietnam lagged somewhat behind, together comprising a further 29%.

In terms of the main countries of destination, Guatemala, with a CAGR of +51.3%, 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 iron or steel leaf-spring export price stood at $X per ton in 2022, which is down by -8.7% against the previous year. In general, export price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, iron or steel leaf-spring export price increased by +61.1% against 2014 indices. The most prominent rate of growth was recorded in 2020 an increase of 23%. The export price peaked at $X per ton in 2021, and then fell in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Australia ($X per ton), while the average price for exports to Vietnam ($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 Guatemala (+11.5%), 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 Malaysia

Iron or steel leaf-spring imports into Malaysia fell to X tons in 2022, which is down by -9.5% compared with 2021. Over the period under review, imports continue to indicate a mild slump. The most prominent rate of growth was recorded in 2014 with an increase of 76% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, iron or steel leaf-spring imports reduced slightly to $X in 2022. In general, total imports indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +4.7% against 2020 indices. The pace of growth appeared the most rapid in 2014 when imports increased by 47%. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of iron or steel leaf-spring to Malaysia, with a 72% share of total imports. Moreover, iron or steel leaf-spring imports from China exceeded the figures recorded by the second-largest supplier, Indonesia (X tons), fourfold. Vietnam (X tons) ranked third in terms of total imports with a 3.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +10.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (-2.9% per year) and Vietnam (-23.4% per year).

In value terms, China ($X) constituted the largest supplier of iron or steel leaf-springs and leaves to Malaysia, comprising 67% of total imports. The second position in the ranking was held by Indonesia ($X), with an 8.1% share of total imports. It was followed by Japan, with a 7.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +17.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+4.9% per year) and Japan (+30.7% per year).

Import Prices by Country

In 2022, the average iron or steel leaf-spring import price amounted to $X per ton, picking up by 5.7% against the previous year. In general, import price indicated buoyant growth from 2012 to 2022: its price increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, iron or steel leaf-spring import price decreased by -5.0% against 2020 indices. The growth pace was the most rapid in 2013 an increase of 60% against the previous year. The import price peaked at $X per ton in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+8.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :