Puerto Rico: Steel Spring Market 2025

Steel Spring Market Size in Puerto Rico

The Puerto Rican steel spring market reduced rapidly to $X in 2021, waning by -15% against the previous year. Over the period under review, the total consumption indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +5.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +21.5% against 2019 indices. Puerto Rico consumption peaked at $X in 2015; however, from 2016 to 2021, consumption remained at a lower figure.

Steel Spring Production in Puerto Rico

In value terms, steel spring production declined dramatically to $X in 2021 estimated in export price. In general, the total production indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +5.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +22.6% against 2019 indices. The most prominent rate of growth was recorded in 2014 with an increase of 54% against the previous year. Over the period under review, production reached the peak level at $X in 2015; however, from 2016 to 2021, production failed to regain momentum.

Steel Spring Exports

Exports from Puerto Rico

In 2021, the amount of steel springs and leaves for springs exported from Puerto Rico was estimated at less than X kg, leveling off at the year before. Overall, exports saw a relatively flat trend pattern.

In value terms, steel spring exports stood at less than $X in 2021. Over the period under review, exports saw a relatively flat trend pattern.

Exports by Country

China was the major exporter of steel springs and leaves for springs in the world, with the volume of exports finishing at X tons, which was approx. 31% of total exports in 2021. It was distantly followed by Germany (X tons), Mexico (X tons) and the United States (X tons), together achieving a 28% share of total exports. Poland (X tons), the Czech Republic (X tons), Spain (X tons), Turkey (X tons), Indonesia (X tons), India (X tons), the Netherlands (X tons), Canada (X tons) and Japan (X tons) held a little share of total exports.

Exports from China increased at an average annual rate of +8.3% from 2012 to 2021. At the same time, Poland (+11.5%), Indonesia (+6.0%), India (+5.9%), the Netherlands (+5.4%), the Czech Republic (+3.0%) and Germany (+2.0%) displayed positive paces of growth. Moreover, Poland emerged as the fastest-growing exporter exported in the world, with a CAGR of +11.5% from 2012-2021. Spain, Turkey and Mexico experienced a relatively flat trend pattern. By contrast, Japan (-2.7%), Canada (-2.8%) and the United States (-5.5%) illustrated a downward trend over the same period. China (+13 p.p.) and Poland (+2.1 p.p.) significantly strengthened its position in terms of the global exports, while Mexico and the United States saw its share reduced by -3.1% and -6% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest steel spring supplying countries from Puerto Rico were China ($X), Germany ($X) and the United States ($X), together accounting for 48% of total exports. These countries were followed by Mexico, Japan, Poland, the Czech Republic, Canada, Spain, the Netherlands, Turkey, Indonesia and India, which together accounted for a further 28%.

Poland, with a CAGR of +13.5%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Puerto Rico stood at less than $X per ton in 2021, remaining stable against the previous year. Over the period under review, the export price saw a relatively flat trend pattern.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+7.9%), while the other leaders experienced more modest paces of growth.

Steel Spring Imports

Imports into Puerto Rico

In 2021, imports of steel springs and leaves for springs into Puerto Rico totaled less than X kg, approximately mirroring 2020 figures. Over the period under review, imports continue to indicate a relatively flat trend pattern.

In value terms, steel spring imports totaled less than $X in 2021. Overall, imports showed a relatively flat trend pattern.

Imports by Country

In 2021, the United States (X tons) represented the key importer of steel springs and leaves for springs, constituting 25% of total imports. It was distantly followed by Germany (X tons) and Mexico (X tons), together creating a 13% share of total imports. Poland (X tons), Canada (X tons), China (X tons), the UK (X tons), Russia (X tons), the Netherlands (X tons), Belgium (X tons), Italy (X tons), France (X tons) and Japan (X tons) held a minor share of total imports.

From 2012 to 2021, average annual rates of growth with regard to steel spring imports into the United States stood at +2.0%. At the same time, Poland (+7.2%), the Netherlands (+3.9%), Italy (+1.4%), Russia (+1.3%) and Germany (+1.0%) displayed positive paces of growth. Moreover, Poland emerged as the fastest-growing importer imported in the world, with a CAGR of +7.2% from 2012-2021. China, Belgium and the UK experienced a relatively flat trend pattern. By contrast, Japan (-1.4%), Canada (-2.6%), France (-4.7%) and Mexico (-6.3%) illustrated a downward trend over the same period. While the share of the United States (+3.3 p.p.) and Poland (+1.8 p.p.) increased significantly in terms of the global imports from 2012-2021, the share of Mexico (-5.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X), China ($X) and Germany ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 37% share of total imports. Mexico, Poland, Canada, the UK, Russia, France, Italy, the Netherlands, Belgium and Japan lagged somewhat behind, together accounting for a further 27%.

Poland, with a CAGR of +6.9%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Puerto Rico amounted to less than $X per ton, approximately mirroring the previous year. In general, the import price continues to indicate a relatively flat trend pattern.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+7.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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