MERCOSUR: Steel Spring Market 2024

Steel Spring Market Size in MERCOSUR

In 2021, the MERCOSUR steel spring market was finally on the rise to reach $X for the first time since 2017, thus ending a three-year declining trend. In general, consumption, however, showed a slight decrease. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.

Steel Spring Production in MERCOSUR

In value terms, steel spring production amounted to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a mild contraction. The pace of growth was the most pronounced in 2013 when the production volume increased by 11%. As a result, production reached the peak level of $X. From 2014 to 2021, production growth failed to regain momentum.

Steel Spring Exports

Exports in MERCOSUR

After four years of decline, shipments abroad of steel springs and leaves for springs increased by 44% to X tons in 2021. Overall, exports, however, recorded a mild shrinkage. Over the period under review, the exports attained the peak figure at X tons in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

In value terms, steel spring exports surged to $X in 2021. Over the period under review, exports, however, showed a pronounced descent. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, Brazil (X tons) represented the major exporter of steel springs and leaves for springs, constituting 75% of total exports. It was distantly followed by Colombia (X tons), generating an 18% share of total exports. Peru (X tons) and Argentina (X tons) followed a long way behind the leaders.

Brazil experienced a relatively flat trend pattern with regard to volume of exports of steel springs and leaves for springs. Colombia experienced a relatively flat trend pattern. Peru (-4.9%) and Argentina (-20.6%) illustrated a downward trend over the same period. Brazil (+12 p.p.) and Colombia (+3.5 p.p.) significantly strengthened its position in terms of the total exports, while Argentina saw its share reduced by -13.8% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) remains the largest steel spring supplier in MERCOSUR, comprising 82% of total exports. The second position in the ranking was held by Colombia ($X), with an 11% share of total exports. It was followed by Argentina, with a 3.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Brazil totaled -2.6%. In the other countries, the average annual rates were as follows: Colombia (+0.3% per year) and Argentina (-17.8% per year).

Export Prices by Country

In 2021, the export price in MERCOSUR amounted to $X per ton, dropping by -1.8% against the previous year. In general, the export price recorded a noticeable curtailment. The pace of growth was the most pronounced in 2017 when the export price increased by 22% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Argentina ($X per ton), while Colombia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Argentina (+3.6%), while the other leaders experienced mixed trends in the export price figures.

Steel Spring Imports

Imports in MERCOSUR

In 2021, imports of steel springs and leaves for springs in MERCOSUR soared to X tons, surging by 67% against the previous year. In general, imports, however, saw a relatively flat trend pattern. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, steel spring imports skyrocketed to $X in 2021. Overall, imports, however, recorded a mild descent. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Brazil represented the key importing country with an import of about X tons, which accounted for 35% of total imports. Chile (X tons) took a 19% share (based on physical terms) of total imports, which put it in second place, followed by Argentina (15%), Peru (12%) and Colombia (7.4%). The following importers - Ecuador (X tons) and Paraguay (X tons) - each resulted at an 8.5% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Chile (with a CAGR of +10.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X) constitutes the largest market for imported steel springs and leaves for springs in MERCOSUR, comprising 55% of total imports. The second position in the ranking was taken by Argentina ($X), with a 14% share of total imports. It was followed by Chile, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Brazil amounted to -1.0%. In the other countries, the average annual rates were as follows: Argentina (-1.6% per year) and Chile (+4.0% per year).

Import Prices by Country

In 2021, the import price in MERCOSUR amounted to $X per ton, shrinking by -6.4% against the previous year. Overall, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the import price increased by 3.5% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2017; however, from 2018 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Brazil ($X per ton), while Paraguay ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+3.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform