Sri Lanka: Market for Iron or Steel Hot-Worked Helical Springs 2025

Market Size for Iron or Steel Hot-Worked Helical Springs in Sri Lanka

The Sri Lankan metal hot-worked helical spring market was finally on the rise to reach $X in 2021, after two years of decline. In general, consumption continues to indicate a prominent increase. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Exports of Iron or Steel Hot-Worked Helical Springs

Exports from Sri Lanka

In 2021, shipments abroad of iron or steel hot-worked helical springs decreased by -57.3% to X tons, falling for the second year in a row after two years of growth. Over the period under review, exports recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2019 with an increase of 41%. As a result, the exports reached the peak of X tons. From 2020 to 2021, the growth of the exports failed to regain momentum.

In value terms, metal hot-worked helical spring exports reduced dramatically to $X in 2021. Overall, exports saw a abrupt descent. The most prominent rate of growth was recorded in 2014 when exports increased by 32% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Japan (X tons) was the main destination for metal hot-worked helical spring exports from Sri Lanka, with a 92% share of total exports. Moreover, metal hot-worked helical spring exports to Japan exceeded the volume sent to the second major destination, Russia (X kg), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to Japan totaled -6.6%.

In value terms, Japan ($X) remains the key foreign market for iron or steel hot-worked helical springs exports from Sri Lanka, comprising 79% of total exports. The second position in the ranking was taken by Russia ($X), with a 15% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Japan stood at -6.0%.

Export Prices by Country

In 2021, the average metal hot-worked helical spring export price amounted to $X per ton, surging by 30% against the previous year. In general, the export price recorded a relatively flat trend pattern. The export price peaked at $X per ton in 2018; afterwards, it flattened through to 2021.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Japan amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+0.6%).

Imports of Iron or Steel Hot-Worked Helical Springs

Imports into Sri Lanka

After two years of decline, overseas purchases of iron or steel hot-worked helical springs increased by 140% to X tons in 2021. Over the period under review, imports saw prominent growth. The growth pace was the most rapid in 2015 with an increase of 721%. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, metal hot-worked helical spring imports rose notably to $X in 2021. In general, imports showed a prominent increase. The growth pace was the most rapid in 2015 when imports increased by 540% against the previous year. As a result, imports attained the peak of $X. From 2016 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest metal hot-worked helical spring supplier to Sri Lanka, accounting for a 83% share of total imports. Moreover, metal hot-worked helical spring imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), sixfold. Japan (X tons) ranked third in terms of total imports with a 1.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +29.7%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+9.6% per year) and Japan (-13.1% per year).

In value terms, China ($X) constituted the largest supplier of iron or steel hot-worked helical springs to Sri Lanka, comprising 67% of total imports. The second position in the ranking was taken by India ($X), with a 20% share of total imports. It was followed by Japan, with a 1.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +23.0%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+14.1% per year) and Japan (-1.3% per year).

Import Prices by Country

The average metal hot-worked helical spring import price stood at $X per ton in 2021, falling by -53.5% against the previous year. In general, the import price showed a pronounced curtailment. The growth pace was the most rapid in 2014 when the average import price increased by 46%. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the average 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 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 (+13.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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