South Africa: Market for Iron or Steel Flat Spiral or Discs Springs 2024

Market Size for Iron or Steel Flat Spiral or Discs Springs in South Africa

The South African market for iron or steel flat spiral or discs springs soared to $X in 2021, growing by 81% against 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). Over the period under review, consumption posted a pronounced increase. Metal spiral or discs spring consumption peaked at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Exports of Iron or Steel Flat Spiral or Discs Springs

Exports from South Africa

In 2021, shipments abroad of iron or steel flat spiral or discs springs decreased by -18.4% to X tons, falling for the third year in a row after two years of growth. Overall, exports recorded a deep setback. The most prominent rate of growth was recorded in 2017 when exports increased by 58%. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, metal spiral or discs spring exports dropped to $X in 2021. Over the period under review, exports saw a pronounced decrease. The pace of growth appeared the most rapid in 2017 when exports increased by 39% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Zimbabwe (X tons), Botswana (X tons) and Namibia (X tons) were the main destinations of metal spiral or discs spring exports from South Africa, with a combined 68% share of total exports. These countries were followed by Mozambique, Zambia, Australia, Swaziland, Belgium, Tanzania, the UK, Democratic Republic of the Congo, Ghana and Saudi Arabia, which together accounted for a further 25%.

From 2012 to 2021, the biggest increases were recorded for Belgium (with a CAGR of +6.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for metal spiral or discs spring exported from South Africa were Namibia ($X), Australia ($X) and Zimbabwe ($X), together accounting for 46% of total exports.

In terms of the main countries of destination, Australia, with a CAGR of +19.5%, 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

In 2021, the average export price for iron or steel flat spiral or discs springs amounted to $X per ton, growing by 9.2% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.1%. The most prominent rate of growth was recorded in 2019 an increase of 38%. Over the period under review, the average export prices reached the peak figure in 2021 and is likely to continue growth in years to come.

Prices varied noticeably country of destination: the country with the highest price was Democratic Republic of the Congo ($X per ton), while the average price for exports to Zimbabwe ($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 Saudi Arabia (+28.4%), 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 South Africa

In 2021, supplies from abroad of iron or steel flat spiral or discs springs increased by 42% to X tons for the first time since 2017, thus ending a three-year declining trend. Over the period under review, total imports indicated a slight expansion from 2012 to 2021: its volume increased at an average annual rate of +1.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when imports increased by 57%. As a result, imports attained the peak of X tons. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, metal spiral or discs spring imports surged to $X in 2021. Overall, imports, however, saw a slight shrinkage. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest metal spiral or discs spring supplier to South Africa, with a 54% share of total imports. Moreover, metal spiral or discs spring imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), fourfold. The third position in this ranking was held by the Czech Republic (X tons), with a 5.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +1.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-2.1% per year) and the Czech Republic (+57.8% per year).

In value terms, Germany ($X), China ($X) and the Czech Republic ($X) constituted the largest metal spiral or discs spring suppliers to South Africa, with a combined 45% share of total imports.

The Czech Republic, with a CAGR of +40.8%, saw the highest rates of growth with regard to 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

In 2021, the average import price for iron or steel flat spiral or discs springs amounted to $X per ton, declining by -4.9% against the previous year. In general, the import price continues to indicate a perceptible decline. The pace of growth appeared the most rapid in 2018 an increase of 65% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: 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 2021, the most notable rate of growth in terms of prices was attained by Portugal (+3.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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