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

Market Size for Iron or Steel Leaf-Springs and Leaves in the Russian Federation

The Russian iron or steel leaf-spring market shrank slightly to $X in 2022, waning by -2.4% against the previous year. Over the period under review, consumption showed a deep slump. Iron or steel leaf-spring consumption peaked at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Production of Iron or Steel Leaf-Springs and Leaves in the Russian Federation

In value terms, iron or steel leaf-spring production fell slightly to $X in 2022 estimated in export price. In general, production saw a abrupt decline. The growth pace was the most rapid in 2015 when the production volume increased by 50% against the previous year. As a result, production reached the peak level of $X. From 2016 to 2022, production growth failed to regain momentum.

Exports of Iron or Steel Leaf-Springs and Leaves

Exports from the Russian Federation

In 2022, overseas shipments of iron or steel leaf-springs and leaves decreased by -3.9% to X tons for the first time since 2016, thus ending a five-year rising trend. The total export volume increased at an average annual rate of +1.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 with an increase of 19%. The exports peaked at X tons in 2021, and then dropped in the following year.

In value terms, iron or steel leaf-spring exports contracted to $X in 2022. Over the period under review, exports continue to indicate a mild reduction. The growth pace was the most rapid in 2021 with an increase of 38% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Belarus (X tons), Kazakhstan (X tons) and Tajikistan (X tons) were the main destinations of iron or steel leaf-spring exports from Russia, together comprising 93% of total exports.

From 2012 to 2022, the biggest increases were recorded for Tajikistan (with a CAGR of +121.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for iron or steel leaf-spring exported from Russia were Belarus ($X), Kazakhstan ($X) and Ukraine ($X), together comprising 94% of total exports. Tajikistan and Azerbaijan lagged somewhat behind, together comprising a further 1%.

Tajikistan, with a CAGR of +65.4%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average iron or steel leaf-spring export price stood at $X per ton in 2022, waning by -10.3% against the previous year. In general, the export price showed a perceptible contraction. The most prominent rate of growth was recorded in 2021 when the average export price increased by 31%. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Ukraine ($X per ton), while the average price for exports to Tajikistan ($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 Kazakhstan (+2.6%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Iron or Steel Leaf-Springs and Leaves

Imports into the Russian Federation

In 2022, purchases abroad of iron or steel leaf-springs and leaves was finally on the rise to reach X tons after two years of decline. In general, imports, however, recorded a perceptible setback. The pace of growth was the most pronounced in 2017 when imports increased by 38% against the previous year. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, iron or steel leaf-spring imports shrank slightly to $X in 2022. Over the period under review, imports, however, showed a deep contraction. The pace of growth appeared the most rapid in 2017 when imports increased by 46% against the previous year. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of iron or steel leaf-spring to Russia, with a 44% share of total imports. Moreover, iron or steel leaf-spring imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X tons), twofold. The third position in this ranking was taken by Malaysia (X tons), with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at -1.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+9.5% per year) and Malaysia (+5.5% per year).

In value terms, the largest iron or steel leaf-spring suppliers to Russia were China ($X), Turkey ($X) and Malaysia ($X), with a combined 62% share of total imports. Germany, Belarus, Belgium, Japan, Hungary, South Korea and Sweden lagged somewhat behind, together accounting for a further 30%.

Hungary, with a CAGR of +65.8%, recorded the highest growth rate of 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

The average iron or steel leaf-spring import price stood at $X per ton in 2022, with a decrease of -5.9% against the previous year. In general, the import price showed a slight reduction. The pace of growth was the most pronounced in 2021 an increase of 10%. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, 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 Ukraine (+15.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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