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

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

The Pakistani iron or steel leaf-spring market declined to $X in 2022, waning by -8.1% against the previous year. Over the period under review, consumption saw a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

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

In value terms, iron or steel leaf-spring production shrank to $X in 2022 estimated in export price. In general, production showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 24% against the previous year. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Exports of Iron or Steel Leaf-Springs and Leaves

Exports from Pakistan

In 2022, approx. X kg of iron or steel leaf-springs and leaves were exported from Pakistan; shrinking by -37.5% compared with the previous year. Over the period under review, exports showed a precipitous contraction. The pace of growth appeared the most rapid in 2014 with an increase of 246% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, iron or steel leaf-spring exports plummeted to $X in 2022. Overall, exports showed a precipitous shrinkage. The pace of growth appeared the most rapid in 2021 with an increase of 328%. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Madagascar (X kg), Russia (X kg) and the United Arab Emirates (X kg) were the main destinations of iron or steel leaf-spring exports from Pakistan, together accounting for 94% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Madagascar (with a CAGR of -28.4%), while the other leaders experienced a decline.

In value terms, Russia ($X) remains the key foreign market for iron or steel leaf-springs and leaves exports from Pakistan, comprising 86% of total exports. The second position in the ranking was held by Madagascar ($X), with a 9.4% share of total exports. It was followed by Hungary, with a 1.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Russia stood at -24.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Madagascar (-36.1% per year) and Hungary (-47.4% per year).

Export Prices by Country

The average iron or steel leaf-spring export price stood at $X per ton in 2022, remaining constant against the previous year. Over the period under review, the export price, however, showed strong growth. The pace of growth was the most pronounced in 2021 an increase of 97%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Madagascar ($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 Russia (+18.1%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Iron or Steel Leaf-Springs and Leaves

Imports into Pakistan

In 2022, approx. X tons of iron or steel leaf-springs and leaves were imported into Pakistan; waning by -26.1% compared with the year before. Over the period under review, imports, however, recorded a strong expansion. The most prominent rate of growth was recorded in 2015 when imports increased by 119% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, iron or steel leaf-spring imports dropped dramatically to $X in 2022. Overall, imports, however, continue to indicate strong growth. The pace of growth appeared the most rapid in 2015 when imports increased by 220% against the previous year. Over the period under review, imports attained the maximum at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), Thailand (X tons) and Japan (X tons) were the main suppliers of iron or steel leaf-spring imports to Pakistan, together comprising 84% of total imports. Austria, Indonesia and Germany lagged somewhat behind, together comprising a further 11%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Austria (with a CAGR of +79.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), Thailand ($X) and China ($X) appeared to be the largest iron or steel leaf-spring suppliers to Pakistan, together accounting for 81% of total imports. Austria, Germany and Indonesia lagged somewhat behind, together comprising a further 11%.

Among the main suppliers, Austria, with a CAGR of +77.8%, saw the highest rates of growth with regard to 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, waning by -5.8% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of 46%. As a result, import price reached the peak level of $X per ton. From 2016 to 2022, the average 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 ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+2.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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