Singapore: Market for Iron or Steel Flat Spiral or Discs Springs 2025

Market Size for Iron or Steel Flat Spiral or Discs Springs in Singapore

In 2021, the Singaporean market for iron or steel flat spiral or discs springs was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. In general, consumption recorded strong growth. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market remained at a somewhat lower figure.

Production of Iron or Steel Flat Spiral or Discs Springs in Singapore

In value terms, metal spiral or discs spring production surged to $X in 2021 estimated in export price. Overall, production, however, recorded a deep setback. Over the period under review, production attained the maximum level at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Exports of Iron or Steel Flat Spiral or Discs Springs

Exports from Singapore

In 2021, after two years of decline, there was significant growth in overseas shipments of iron or steel flat spiral or discs springs, when their volume increased by 62% to X tons. Over the period under review, exports, however, continue to indicate a deep downturn. Over the period under review, the exports reached the maximum at X tons in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, metal spiral or discs spring exports soared to $X in 2021. Overall, exports, however, recorded a noticeable decline. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Malaysia (X tons), Indonesia (X tons) and China (X tons) were the main destinations of metal spiral or discs spring exports from Singapore, together accounting for 75% of total exports. These countries were followed by India, Thailand, Hong Kong SAR and the United States, which together accounted for a further 14%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by India (with a CAGR of +6.6%), while the other leaders experienced a decline.

In value terms, Malaysia ($X) remains the key foreign market for iron or steel flat spiral or discs springs exports from Singapore, comprising 41% of total exports. The second position in the ranking was taken by Indonesia ($X), with a 15% share of total exports. It was followed by India, with a 7.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Malaysia stood at -5.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+6.8% per year) and India (+14.8% per year).

Export Prices by Country

In 2021, the average export price for iron or steel flat spiral or discs springs amounted to $X per ton, remaining stable against the previous year. In general, the export price posted resilient growth. The pace of growth appeared the most rapid in 2016 an increase of 46% against the previous year. Over the period under review, the average export prices attained the maximum in 2021 and is likely to continue growth in the near future.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was the United States ($X per ton), while the average price for exports to Indonesia ($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 Hong Kong SAR (+38.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Iron or Steel Flat Spiral or Discs Springs

Imports into Singapore

In 2021, supplies from abroad of iron or steel flat spiral or discs springs increased by 41% to X tons, rising for the third consecutive year after five years of decline. Over the period under review, imports, however, showed a deep slump. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, metal spiral or discs spring imports skyrocketed to $X in 2021. Overall, imports, however, continue to indicate a pronounced shrinkage. Imports peaked at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

China (X tons), the United States (X tons) and Germany (X tons) were the main suppliers of metal spiral or discs spring imports to Singapore, with a combined 79% share of total imports.

From 2012 to 2021, the biggest increases were recorded for the United States (with a CAGR of -5.6%), while purchases for the other leaders experienced a decline.

In value terms, the United States ($X) constituted the largest supplier of iron or steel flat spiral or discs springs to Singapore, comprising 41% of total imports. The second position in the ranking was taken by Germany ($X), with a 16% share of total imports. It was followed by China, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States amounted to +8.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-8.9% per year) and China (-9.1% per year).

Import Prices by Country

In 2021, the average import price for iron or steel flat spiral or discs springs amounted to $X per ton, with an increase of 1.5% against the previous year. Overall, the import price continues to indicate prominent growth. The growth pace was the most rapid in 2018 an increase of 69% against the previous year. As a result, import price reached the peak level of $X per ton. From 2019 to 2021, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Japan ($X per ton), while the price for China ($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 (+21.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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