South Africa: Market for Iron or Steel Leaf-Springs and Leaves 2024

Market Size for Iron or Steel Leaf-Springs and Leaves in South Africa

The South African iron or steel leaf-spring market was estimated at $X in 2022, approximately mirroring the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, the total consumption indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +60.8% against 2020 indices. Iron or steel leaf-spring consumption peaked in 2022 and is expected to retain growth in the immediate term.

Exports of Iron or Steel Leaf-Springs and Leaves

Exports from South Africa

In 2022, after four years of growth, there was significant decline in shipments abroad of iron or steel leaf-springs and leaves, when their volume decreased by -25.3% to X tons. In general, exports continue to indicate a noticeable contraction. The most prominent rate of growth was recorded in 2021 with an increase of 92% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, iron or steel leaf-spring exports declined slightly to $X in 2022. Overall, exports continue to indicate a noticeable decrease. The pace of growth appeared the most rapid in 2021 with an increase of 56%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Zambia (X tons), Mozambique (X tons) and Zimbabwe (X tons) were the main destinations of iron or steel leaf-spring exports from South Africa, together accounting for 61% of total exports. The UK, Namibia, Botswana, Swaziland and Thailand lagged somewhat behind, together accounting for a further 31%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the UK (with a CAGR of +79.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for iron or steel leaf-spring exported from South Africa were Namibia ($X), Zambia ($X) and Mozambique ($X), together accounting for 49% of total exports. Zimbabwe, Botswana, the UK, Swaziland and Thailand lagged somewhat behind, together comprising a further 35%.

Among the main countries of destination, the UK, with a CAGR of +62.2%, saw the highest growth rate of the value of exports, 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, increasing by 33% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the average export price increased by 46% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Botswana ($X per ton), while the average price for exports to the UK ($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 Namibia (+5.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Iron or Steel Leaf-Springs and Leaves

Imports into South Africa

In 2022, the amount of iron or steel leaf-springs and leaves imported into South Africa reduced to X tons, with a decrease of -7.4% compared with 2021 figures. The total import volume increased at an average annual rate of +1.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when imports increased by 44%. As a result, imports attained the peak of X tons, and then fell in the following year.

In value terms, iron or steel leaf-spring imports dropped modestly to $X in 2022. Over the period under review, total imports indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +64.7% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 65% against the previous year. As a result, imports attained the peak of $X, leveling off in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of iron or steel leaf-spring to South Africa, accounting for a 44% share of total imports. Moreover, iron or steel leaf-spring imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), threefold. India (X tons) ranked third in terms of total imports with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+4.5% per year) and India (+1.1% per year).

In value terms, China ($X), Germany ($X) and the Netherlands ($X) were the largest iron or steel leaf-spring suppliers to South Africa, with a combined 61% share of total imports. India, Australia, Portugal and Poland lagged somewhat behind, together comprising a further 26%.

Poland, with a CAGR of +24.1%, 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 iron or steel leaf-spring import price stood at $X per ton in 2022, with an increase of 7.9% against the previous year. Overall, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the average import price increased by 15%. Over the period under review, average import prices attained the maximum in 2022 and is likely to see gradual growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+4.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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