MENA: Steel Spring Market 2025

Steel Spring Market Size in MENA

The MENA's steel spring market skyrocketed to $X in 2021, surging by 20% against the previous year. Over the period under review, consumption enjoyed a buoyant expansion. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Steel Spring Production in MENA

In value terms, steel spring production surged to $X in 2021 estimated in export price. In general, production recorded a prominent increase. The most prominent rate of growth was recorded in 2015 with an increase of 77%. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Steel Spring Exports

Exports in MENA

After four years of decline, shipments abroad of steel springs and leaves for springs increased by 15% to X tons in 2021. Overall, exports saw a relatively flat trend pattern. The volume of export peaked at X tons in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, steel spring exports soared to $X in 2021. The total export value increased at an average annual rate of +2.0% from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Turkey was the main exporting country with an export of around X tons, which recorded 68% of total exports. Tunisia (X tons) ranks second in terms of the total exports with a 22% share, followed by the United Arab Emirates (8%).

Turkey experienced a relatively flat trend pattern with regard to volume of exports of steel springs and leaves for springs. At the same time, Tunisia (+1.2%) displayed positive paces of growth. Moreover, Tunisia emerged as the fastest-growing exporter exported in MENA, with a CAGR of +1.2% from 2012-2021. By contrast, the United Arab Emirates (-3.9%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Tunisia and Turkey increased by +2 and +1.9 percentage points, respectively.

In value terms, Turkey ($X) remains the largest steel spring supplier in MENA, comprising 64% of total exports. The second position in the ranking was taken by Tunisia ($X), with a 25% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Turkey amounted to +3.6%. In the other countries, the average annual rates were as follows: Tunisia (+0.7% per year) and the United Arab Emirates (-2.8% per year).

Export Prices by Country

The export price in MENA stood at $X per ton in 2021, surging by 8.5% against the previous year. Over the last nine years, it increased at an average annual rate of +1.9%. The most prominent rate of growth was recorded in 2018 an increase of 15%. The level of export peaked in 2021 and is expected to retain growth in the near future.

Average prices varied somewhat amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Tunisia ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+3.1%), while the other leaders experienced mixed trends in the export price figures.

Steel Spring Imports

Imports in MENA

Steel spring imports soared to X tons in 2021, with an increase of 15% compared with the year before. In general, imports, however, recorded a relatively flat trend pattern. Over the period under review, imports reached the maximum at X tons in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, steel spring imports surged to $X in 2021. The total import value increased at an average annual rate of +2.6% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The purchases of the three major importers of steel springs and leaves for springs, namely Turkey, the United Arab Emirates and Saudi Arabia, represented more than half of total import. It was distantly followed by Iraq (X tons), Yemen (X tons) and Algeria (X tons), together achieving an 18% share of total imports. Tunisia (X tons), Morocco (X tons), Israel (X tons), Egypt (X tons), Libya (X tons), Oman (X tons) and Syrian Arab Republic (X tons) took a little share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Tunisia (with a CAGR of +11.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X) constitutes the largest market for imported steel springs and leaves for springs in MENA, comprising 38% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 13% share of total imports. It was followed by Saudi Arabia, with an 11% share.

In Turkey, steel spring imports increased at an average annual rate of +3.7% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (+7.5% per year) and Saudi Arabia (-3.4% per year).

Import Prices by Country

In 2021, the import price in MENA amounted to $X per ton, increasing by 7.4% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.3%. The growth pace was the most rapid in 2018 an increase of 14%. As a result, import price attained the peak level of $X per ton; afterwards, it flattened through to 2021.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Israel ($X per ton), while Syrian Arab Republic ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Egypt (+12.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform