Report Update Jan 1, 2025

Philippines - Steel Springs and Leaves for Springs - Market Analysis, Forecast, Size, Trends and Insights

Single report

Sent by email within 24h (Mon-Fri)

$599 Basic Edition

$2095 Professional Edition

What's the difference?

Subscription

Online access and download

from $350/month

Get instant access to more than 2 million reports, dashboards, and datasets on the IndexBox Platform.

View Pricing

Philippines: Steel Spring Market 2025

Steel Spring Market Size in the Philippines

In 2021, the Philippine steel spring market was finally on the rise to reach $X after three years of decline. Over the period under review, consumption enjoyed resilient growth. Steel spring consumption peaked at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Steel Spring Exports

Exports from the Philippines

In 2021, overseas shipments of steel springs and leaves for springs increased by 27% to X tons, rising for the second consecutive year after two years of decline. Overall, exports showed a significant expansion. The pace of growth appeared the most rapid in 2017 when exports increased by 321%. As a result, the exports attained the peak of X tons. From 2018 to 2021, the growth of the exports remained at a lower figure.

In value terms, steel spring exports soared to $X in 2021. Over the period under review, exports enjoyed significant growth. The most prominent rate of growth was recorded in 2013 when exports increased by 1,045%. The exports peaked in 2021 and are likely to continue growth in the immediate term.

Exports by Country

Japan (X tons), Germany (X tons) and Belgium (X tons) were the main destinations of steel spring exports from the Philippines, with a combined 54% share of total exports. Vietnam, Poland, Austria, the United States, Malaysia, Morocco, Singapore, Spain and Hong Kong SAR lagged somewhat behind, together accounting for a further 40%.

From 2012 to 2021, the biggest increases were recorded for Austria (with a CAGR of +437,200.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) remains the key foreign market for steel springs and leaves for springs exports from the Philippines, comprising 58% of total exports. The second position in the ranking was held by Malaysia ($X), with an 18% share of total exports. It was followed by Japan, with a 9.4% share.

From 2012 to 2021, the average annual growth rate of value to Germany totaled +144.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+193.4% per year) and Japan (+83.6% per year).

Export Prices by Country

The average steel spring export price stood at $X per ton in 2021, picking up by 22% against the previous year. Over the period under review, the export price enjoyed significant growth. The pace of growth appeared the most rapid in 2020 when the average export price increased by 331% against the previous year. The export price peaked in 2021 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while the average price for exports to Poland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+33.5%), while the prices for the other major destinations experienced more modest paces of growth.

Steel Spring Imports

Imports into the Philippines

In 2021, after four years of decline, there was significant growth in purchases abroad of steel springs and leaves for springs, when their volume increased by 48% to X tons. Over the period under review, imports showed a prominent increase. The most prominent rate of growth was recorded in 2015 with an increase of 122% against the previous year. Imports peaked at X tons in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, steel spring imports surged to $X in 2021. In general, imports continue to indicate significant growth. The pace of growth appeared the most rapid in 2015 when imports increased by 115% against the previous year. Imports peaked in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of steel spring to the Philippines, with a 54% share of total imports. Moreover, steel spring imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), fourfold. Indonesia (X tons) ranked third in terms of total imports with an 8.3% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +8.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+0.4% per year) and Indonesia (+15.8% per year).

In value terms, the largest steel spring suppliers to the Philippines were Thailand ($X), Japan ($X) and China ($X), together comprising 73% of total imports.

Thailand, with a CAGR of +63.9%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average steel spring import price stood at $X per ton in 2021, picking up by 2.2% against the previous year. Over the period under review, the import price recorded a prominent expansion. The pace of growth appeared the most rapid in 2017 when the average import price increased by 87%. The import price peaked in 2021 and is likely to see steady growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Thailand ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+21.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for steel springs and leaves for springs in the world?

The countries with the highest volumes of in 2021 were Ethiopia, China and the United States, with a combined 64% share of global consumption.

What are the largest producers of steel springs and leaves for springs in the world?

The countries with the highest volumes of in 2021 were Ethiopia, China and the United States, with a combined 62% share of global production.

What are the leading suppliers of steel springs and leaves for springs to the Philippines?

In value terms, Japan constituted the largest supplier of steel spring to the Philippines, comprising 71% of total imports. The second position in the ranking was occupied by the United States, with a 7.4% share of total imports. It was followed by Germany, with a 5.8% share.

What are the leading importers of steel springs and leaves for springs from the Philippines?

In value terms, Hungary emerged as the key foreign market for steel spring exports from the Philippines, comprising 60% of total exports. The second position in the ranking was occupied by the United States, with a 7.3% share of total exports. It was followed by Mexico, with a 6.2% share.

What is the average export price for steel springs and leaves for springs in the Philippines?

In 2021, the average steel spring export price amounted to $19,612 per ton, shrinking by -47.5% against the previous year.

What is the average import price for steel springs and leaves for springs in the Philippines?

The average steel spring import price stood at $7,229 per ton in 2021, growing by 34% against the previous year.

This report provides an in-depth analysis of the steel spring market in the Philippines. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 25931613 - Iron or steel hot-worked laminated leaf-springs and leaves therefor
Prodcom 25931615 - Iron or steel hot-worked non-laminated leaf-springs and leaves therefor
Prodcom 25931617 - Iron or steel cold-formed leaf-springs and leaves therefor
Prodcom 25931631 - Iron or steel hot-worked helical springs
Prodcom 25931633 - Iron or steel cold-formed helical coil compression springs
Prodcom 25931635 - Iron or steel cold-formed helical coil tension springs
Prodcom 25931637 - Iron or steel cold-formed helical springs (excluding helical coil compression springs, helical coil tension springs)
Prodcom 25931653 - Iron or steel flat spiral springs
Prodcom 25931655 - Iron or steel discs springs
Prodcom 25931660 - Iron or steel springs (excluding leaf-springs and leaves therefor, helical springs, flat spiral springs, discs springs)

Country coverage:

Philippines

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in the Philippines
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2024
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2024
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2024
2. Market Volume, In Physical Terms, 2012–2024
3. Market Value, 2012–2024
4. Per Capita Consumption In 2012-2024
5. Imports, In Physical Terms, By Country, 2012–2024
6. Imports, In Value Terms, By Country, 2012–2024
7. Import Prices, By Country Of Origin, 2012–2024
8. Exports, In Physical Terms, By Country, 2012–2024
9. Exports, In Value Terms, By Country, 2012–2024
10. Export Prices, By Country Of Destination, 2012–2024
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2024
2. Market Value, 2012–2024
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
5. Trade Balance, In Physical Terms, 2012-2024
6. Trade Balance, In Value Terms, 2012-2024
7. Per Capita Consumption, 2012-2024
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2024
22. Production, In Value Terms, 2012–2024
23. Imports, In Physical Terms, 2012–2024
24. Imports, In Value Terms, 2012–2024
25. Imports, In Physical Terms, By Country, 2024
26. Imports, In Physical Terms, By Country, 2012–2024
27. Imports, In Value Terms, By Country, 2012–2024
28. Import Prices, By Country Of Origin, 2012–2024
29. Exports, In Physical Terms, 2012–2024
30. Exports, In Value Terms, 2012–2024
31. Exports, In Physical Terms, By Country, 2024
32. Exports, In Physical Terms, By Country, 2012–2024
33. Exports, In Value Terms, By Country, 2012–2024
34. Export Prices, By Country Of Destination, 2012–2024