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

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

In 2022, the Mexican iron or steel leaf-spring market decreased by -6.7% to $X, falling for the fifth year in a row after three years of growth. Overall, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

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

In value terms, iron or steel leaf-spring production declined slightly to $X in 2022 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the production volume increased by 11% against the previous year. Over the period under review, production reached the peak level at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

Exports of Iron or Steel Leaf-Springs and Leaves

Exports from Mexico

In 2022, iron or steel leaf-spring exports from Mexico reached X tons, approximately reflecting the previous year. Overall, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 57%. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, iron or steel leaf-spring exports rose remarkably to $X in 2022. The total export value increased at an average annual rate of +3.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 20%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for iron or steel leaf-spring exports from Mexico, with a approx. 99% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to the United States was relatively modest.

In value terms, the United States ($X) also remains the key foreign market for iron or steel leaf-springs and leaves exports from Mexico.

From 2012 to 2022, the average annual growth rate of value to the United States totaled +3.8%.

Export Prices by Country

In 2022, the average iron or steel leaf-spring export price amounted to $X per ton, increasing by 7.3% against the previous year. Over the period under review, the export price enjoyed a perceptible expansion. The pace of growth appeared the most rapid in 2015 an increase of 78%. Over the period under review, the average export prices reached the maximum at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to +3.6% per year.

Imports of Iron or Steel Leaf-Springs and Leaves

Imports into Mexico

In 2022, the amount of iron or steel leaf-springs and leaves imported into Mexico declined to X tons, waning by -5.3% on the previous year. Over the period under review, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of 55% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, iron or steel leaf-spring imports soared to $X in 2022. Overall, imports recorded a perceptible decline. The most prominent rate of growth was recorded in 2018 with an increase of 46% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, the United States (X tons) constituted the largest iron or steel leaf-spring supplier to Mexico, accounting for a 61% share of total imports. Moreover, iron or steel leaf-spring imports from the United States exceeded the figures recorded by the second-largest supplier, Canada (X tons), threefold. China (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States totaled +3.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (-8.5% per year) and China (+40.6% per year).

In value terms, the United States ($X) constituted the largest supplier of iron or steel leaf-springs and leaves to Mexico, comprising 62% of total imports. The second position in the ranking was taken by Canada ($X), with a 16% share of total imports. It was followed by Germany, with an 8.2% share.

From 2012 to 2022, the average annual growth rate of value from the United States stood at +3.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (-10.2% per year) and Germany (+54.8% per year).

Import Prices by Country

In 2022, the average iron or steel leaf-spring import price amounted to $X per ton, jumping by 22% against the previous year. In general, the import price, however, saw a perceptible curtailment. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (-0.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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