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

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

The Peruvian iron or steel leaf-spring market fell to $X in 2022, declining by -8% against the previous year. Over the period under review, consumption saw 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 failed to regain momentum.

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

In value terms, iron or steel leaf-spring production fell to $X in 2022 estimated in export price. In general, production showed a slight decline. The pace of growth appeared the most rapid in 2016 with an increase of 31%. Iron or steel leaf-spring production peaked at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Exports of Iron or Steel Leaf-Springs and Leaves

Exports from Peru

In 2022, the amount of iron or steel leaf-springs and leaves exported from Peru reduced dramatically to X tons, declining by -21.3% on 2021 figures. Overall, exports saw a abrupt contraction. The pace of growth was the most pronounced in 2021 when exports increased by 74% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, iron or steel leaf-spring exports declined significantly to $X in 2022. In general, exports showed a abrupt contraction. The most prominent rate of growth was recorded in 2021 when exports increased by 110%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Bolivia (X tons) was the main destination for iron or steel leaf-spring exports from Peru, accounting for a 85% share of total exports. Moreover, iron or steel leaf-spring exports to Bolivia exceeded the volume sent to the second major destination, Ecuador (X tons), sixfold.

From 2012 to 2022, the average annual growth rate of volume to Bolivia amounted to -3.2%.

In value terms, Bolivia ($X) remains the key foreign market for iron or steel leaf-springs and leaves exports from Peru, comprising 85% of total exports. The second position in the ranking was held by Ecuador ($X), with a 15% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Bolivia totaled -1.7%.

Export Prices by Country

In 2022, the average iron or steel leaf-spring export price amounted to $X per ton, shrinking by -6.3% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.5%. The most prominent rate of growth was recorded in 2021 an increase of 21% against the previous year. As a result, the export price attained the peak level of $X per ton, and then dropped in the following year.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Bolivia ($X per ton), while the average price for exports to Ecuador totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Ecuador (+1.6%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Iron or Steel Leaf-Springs and Leaves

Imports into Peru

In 2022, approx. X tons of iron or steel leaf-springs and leaves were imported into Peru; with a decrease of -17.6% compared with 2021. In general, total imports indicated notable growth from 2012 to 2022: its volume increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +26.7% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 54%. As a result, imports reached the peak of X tons, and then dropped rapidly in the following year.

In value terms, iron or steel leaf-spring imports contracted significantly to $X in 2022. Overall, total imports indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +34.0% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 68%. As a result, imports attained the peak of $X, and then dropped notably in the following year.

Imports by Country

Colombia (X tons), Brazil (X tons) and China (X tons) were the main suppliers of iron or steel leaf-spring imports to Peru, together accounting for 81% of total imports. Ecuador, Turkey and Germany lagged somewhat behind, together comprising a further 15%.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +89.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest iron or steel leaf-spring suppliers to Peru were Colombia ($X), Brazil ($X) and China ($X), together accounting for 69% of total imports. Ecuador, Germany and Turkey lagged somewhat behind, together comprising a further 15%.

Turkey, with a CAGR of +71.4%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average iron or steel leaf-spring import price amounted to $X per ton, which is down by -3.2% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average import price increased by 10%. As a result, import price attained the peak level of $X per ton. From 2018 to 2022, the average import prices remained at a 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 Ecuador (+4.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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