Thailand: Market for Iron or Steel Hot-Worked Helical Springs 2024

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

The Thai metal hot-worked helical spring market expanded significantly to $X in 2021, with an increase of 13% against the previous year. The market value increased at an average annual rate of +2.3% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Production of Iron or Steel Hot-Worked Helical Springs in Thailand

In value terms, metal hot-worked helical spring production soared to $X in 2021 estimated in export price. Over the period under review, the total production indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +2.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -11.6% against 2019 indices. The pace of growth was the most pronounced in 2018 when the production volume increased by 30% against the previous year. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Exports of Iron or Steel Hot-Worked Helical Springs

Exports from Thailand

In 2021, the amount of iron or steel hot-worked helical springs exported from Thailand skyrocketed to X tons, surging by 41% on 2020 figures. Overall, exports saw buoyant growth. The most prominent rate of growth was recorded in 2013 with an increase of 151%. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in the near future.

In value terms, metal hot-worked helical spring exports surged to $X in 2021. In general, exports saw a strong increase. The most prominent rate of growth was recorded in 2013 with an increase of 58%. Over the period under review, the exports hit record highs in 2021 and are likely to continue growth in years to come.

Exports by Country

Pakistan (X tons), Japan (X tons) and Vietnam (X tons) were the main destinations of metal hot-worked helical spring exports from Thailand, with a combined 42% share of total exports. These countries were followed by South Korea, Russia, Indonesia, Malaysia, South Africa, the United Arab Emirates, Australia, the United States, Brazil and Poland, which together accounted for a further 37%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Russia (with a CAGR of +60.7%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for metal hot-worked helical spring exported from Thailand were Pakistan ($X), Japan ($X) and Vietnam ($X), with a combined 47% share of total exports. These countries were followed by Indonesia, South Korea, Malaysia, Brazil, South Africa, Russia, Poland, the United States, Australia and the United Arab Emirates, which together accounted for a further 30%.

Among the main countries of destination, South Korea, with a CAGR of +58.4%, recorded 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 metal hot-worked helical spring export price amounted to $X per ton, increasing by 10% against the previous year. Overall, the export price, however, showed a slight setback. The most prominent rate of growth was recorded in 2015 an increase of 30%. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to the United Arab Emirates ($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 Indonesia (+5.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Iron or Steel Hot-Worked Helical Springs

Imports into Thailand

Metal hot-worked helical spring imports into Thailand surged to X tons in 2021, growing by 16% against the previous year. Overall, total imports indicated pronounced growth from 2012 to 2021: its volume increased at an average annual rate of +3.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +127.0% against 2015 indices. The most prominent rate of growth was recorded in 2020 with an increase of 52%. Over the period under review, imports hit record highs in 2021 and are likely to see steady growth in years to come.

In value terms, metal hot-worked helical spring imports skyrocketed to $X in 2021. In general, total imports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +5.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +122.0% against 2015 indices. The most prominent rate of growth was recorded in 2018 when imports increased by 26%. Imports peaked in 2021 and are likely to continue growth in the near future.

Imports by Country

China (X tons), Japan (X tons) and the United States (X tons) were the main suppliers of metal hot-worked helical spring imports to Thailand, together accounting for 81% of total imports.

From 2012 to 2021, the biggest increases were recorded for the United States (with a CAGR of +16.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), China ($X) and Australia ($X) were the largest metal hot-worked helical spring suppliers to Thailand, together comprising 75% of total imports. The United States, Indonesia, South Korea, Germany, India and Taiwan (Chinese) lagged somewhat behind, together accounting for a further 18%.

The United States, with a CAGR of +14.5%, recorded the highest rates of growth with regard to 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 metal hot-worked helical spring import price stood at $X per ton in 2021, increasing by 7.5% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.9%. The most prominent rate of growth was recorded in 2019 an increase of 28% against the previous year. As a result, import price reached the peak level of $X per ton. From 2020 to 2021, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, 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 2021, the most notable rate of growth in terms of prices was attained by India (+7.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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