Portugal: Steel Spring Market 2025

Steel Spring Market Size in Portugal

In 2021, the Portuguese steel spring market decreased by -54.8% to $X, falling for the fifth year in a row after five years of growth. Overall, consumption, however, showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2017 to 2021, the growth of the market remained at a lower figure.

Steel Spring Production in Portugal

In value terms, steel spring production rose remarkably to $X in 2021 estimated in export price. Over the period under review, production showed a deep slump. Steel spring production peaked at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Steel Spring Exports

Exports from Portugal

In 2021, after five years of decline, there was significant growth in shipments abroad of steel springs and leaves for springs, when their volume increased by 22% to X tons. In general, exports, however, saw a abrupt curtailment. The exports peaked at X tons in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, steel spring exports surged to $X in 2021. Over the period under review, exports, however, recorded a abrupt slump. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Germany (X tons) was the main destination for steel spring exports from Portugal, with a 36% share of total exports. Moreover, steel spring exports to Germany exceeded the volume sent to the second major destination, Hungary (X tons), twofold. The third position in this ranking was taken by Spain (X tons), with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Germany stood at -22.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hungary (+15.8% per year) and Spain (-22.9% per year).

In value terms, Germany ($X) remains the key foreign market for steel springs and leaves for springs exports from Portugal, comprising 35% of total exports. The second position in the ranking was held by Spain ($X), with a 16% share of total exports. It was followed by Hungary, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Germany stood at -22.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (-19.1% per year) and Hungary (+16.1% per year).

Export Prices by Country

The average steel spring export price stood at $X per ton in 2021, picking up by 2.2% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average export price increased by 22%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Austria ($X per ton), while the average price for exports to Ghana ($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 Austria (+18.6%), while the prices for the other major destinations experienced more modest paces of growth.

Steel Spring Imports

Imports into Portugal

In 2021, steel spring imports into Portugal skyrocketed to X tons, picking up by 41% against 2020 figures. Over the period under review, total imports indicated a buoyant expansion from 2012 to 2021: its volume increased at an average annual rate of +9.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, steel spring imports rose remarkably to $X in 2021. Overall, imports posted strong growth. The pace of growth was the most pronounced in 2018 when imports increased by 35%. Over the period under review, imports hit record highs in 2021 and are likely to continue growth in the near future.

Imports by Country

In 2021, Spain (X tons) constituted the largest supplier of steel spring to Portugal, accounting for a 51% share of total imports. Moreover, steel spring imports from Spain exceeded the figures recorded by the second-largest supplier, Germany (X tons), twofold. Japan (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 Spain totaled +23.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-1.5% per year) and Japan (+12.3% per year).

In value terms, the largest steel spring suppliers to Portugal were Spain ($X), Germany ($X) and Japan ($X), together comprising 73% of total imports. France, Belgium, Italy, Turkey, Brazil and Colombia lagged somewhat behind, together accounting for a further 17%.

Brazil, with a CAGR of +58.7%, recorded the highest growth rate of 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, reducing by -22.9% against the previous year. In general, the import price saw a mild contraction. The growth pace was the most rapid in 2018 when the average import price increased by 38%. Over the period under review, average import prices attained the maximum at $X per ton in 2020, and then dropped notably in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+8.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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