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

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

In 2022, the New Zealand iron or steel leaf-spring market increased by 2.7% to $X, rising for the sixth year in a row after two years of decline. Over the period under review, consumption, however, saw a buoyant expansion. Iron or steel leaf-spring consumption peaked in 2022 and is likely to see gradual growth in years to come.

Exports of Iron or Steel Leaf-Springs and Leaves

Exports from New Zealand

Iron or steel leaf-spring exports from New Zealand skyrocketed to X tons in 2022, increasing by 29% against 2021 figures. Over the period under review, exports continue to indicate a notable expansion. The most prominent rate of growth was recorded in 2019 when exports increased by 477% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the near future.

In value terms, iron or steel leaf-spring exports surged to $X in 2022. In general, exports recorded strong growth. The most prominent rate of growth was recorded in 2019 with an increase of 418% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in years to come.

Exports by Country

China (X tons) was the main destination for iron or steel leaf-spring exports from New Zealand, with a 80% share of total exports. Moreover, iron or steel leaf-spring exports to China exceeded the volume sent to the second major destination, Australia (X tons), sevenfold. The third position in this ranking was taken by Brazil (X tons), with a 4.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China stood at +82.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (-7.9% per year) and Brazil (+97.2% per year).

In value terms, China ($X) remains the key foreign market for iron or steel leaf-springs and leaves exports from New Zealand, comprising 80% of total exports. The second position in the ranking was held by Australia ($X), with a 12% share of total exports. It was followed by Brazil, with a 4.7% share.

From 2012 to 2022, the average annual growth rate of value to China totaled +78.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (-3.7% per year) and Brazil (+152.7% per year).

Export Prices by Country

In 2022, the average iron or steel leaf-spring export price amounted to $X per ton, with an increase of 28% against the previous year. Over the period under review, export price indicated a buoyant expansion from 2012 to 2022: its price increased at an average annual rate of +6.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 an increase of 67%. The export price peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were Australia ($X per ton) and Brazil ($X per ton), while the average price for exports to Vanuatu ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Brazil (+28.2%), 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 New Zealand

After six years of growth, overseas purchases of iron or steel leaf-springs and leaves decreased by -1.6% to X tons in 2022. Overall, imports, however, posted a prominent increase. The most prominent rate of growth was recorded in 2021 with an increase of 41% against the previous year. As a result, imports attained the peak of X tons, and then declined in the following year.

In value terms, iron or steel leaf-spring imports stood at $X in 2022. In general, imports, however, saw a remarkable increase. The most prominent rate of growth was recorded in 2021 when imports increased by 46%. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the near future.

Imports by Country

Italy (X tons), Australia (X tons) and China (X tons) were the main suppliers of iron or steel leaf-spring imports to New Zealand, with a combined 57% share of total imports. India, Indonesia, the United States, Malaysia, Germany, Canada, Japan, Belgium and Thailand lagged somewhat behind, together comprising a further 39%.

From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of +66.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest iron or steel leaf-spring suppliers to New Zealand were Italy ($X), Australia ($X) and China ($X), together accounting for 57% of total imports. India, Indonesia, the United States, Malaysia, Germany, Canada, Japan, Belgium and Thailand lagged somewhat behind, together accounting for a further 39%.

In terms of the main suppliers, Indonesia, with a CAGR of +59.5%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average iron or steel leaf-spring import price stood at $X per ton in 2022, increasing by 7.1% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Japan ($X per ton) and Italy ($X per ton), while the price for Belgium ($X per ton) and Canada ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+3.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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