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

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

The Thai iron or steel leaf-spring market stood at $X in 2022, with an increase of 13% against the previous year. Overall, the total consumption indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +3.1% 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 +75.8% against 2020 indices. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the immediate term.

Production of Iron or Steel Leaf-Springs and Leaves in Thailand

In value terms, iron or steel leaf-spring production declined to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a pronounced reduction. The pace of growth appeared the most rapid in 2021 with an increase of 24%. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Exports of Iron or Steel Leaf-Springs and Leaves

Exports from Thailand

In 2022, approx. X tons of iron or steel leaf-springs and leaves were exported from Thailand; with a decrease of -8.4% compared with the previous year. Over the period under review, exports continue to indicate a abrupt shrinkage. The growth pace was the most rapid in 2020 with an increase of 49% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, iron or steel leaf-spring exports fell to $X in 2022. Overall, exports continue to indicate a pronounced descent. The most prominent rate of growth was recorded in 2018 with an increase of 7.6% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Vietnam (X tons), South Africa (X tons) and Australia (X tons) were the main destinations of iron or steel leaf-spring exports from Thailand, together accounting for 55% of total exports. Yemen, the Philippines, India, Cambodia, Japan, the United Arab Emirates, Egypt, the United States, Brazil and Spain lagged somewhat behind, together comprising a further 34%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by India (with a CAGR of +121.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for iron or steel leaf-spring exported from Thailand were South Africa ($X), Vietnam ($X) and Australia ($X), with a combined 54% share of total exports. The Philippines, Yemen, India, Japan, Egypt, the United States, Cambodia, Brazil, the United Arab Emirates and Spain lagged somewhat behind, together accounting for a further 29%.

Among the main countries of destination, India, with a CAGR of +106.5%, 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 2022, the average iron or steel leaf-spring export price amounted to $X per ton, surging by 3.2% against the previous year. Overall, export price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, iron or steel leaf-spring export price increased by +35.3% against 2020 indices. The pace of growth appeared the most rapid in 2019 an increase of 49%. As a result, the export price attained the peak level of $X per ton. From 2020 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Brazil ($X per ton), while the average price for exports to the United Arab Emirates ($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 Brazil (+17.4%), 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 Thailand

For the third consecutive year, Thailand recorded growth in purchases abroad of iron or steel leaf-springs and leaves, which increased by 15% to X tons in 2022. In general, imports recorded resilient growth. The pace of growth was the most pronounced in 2015 with an increase of 45%. Imports peaked in 2022 and are likely to continue growth in years to come.

In value terms, iron or steel leaf-spring imports surged to $X in 2022. Over the period under review, imports posted a resilient expansion. The growth pace was the most rapid in 2021 when imports increased by 52%. Imports peaked in 2022 and are likely to see gradual growth in the near future.

Imports by Country

China (X tons), Indonesia (X tons) and Malaysia (X tons) were the main suppliers of iron or steel leaf-spring imports to Thailand, together comprising 92% of total imports.

From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of +27.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest iron or steel leaf-spring suppliers to Thailand were Indonesia ($X), China ($X) and Malaysia ($X), with a combined 89% share of total imports.

Among the main suppliers, Indonesia, with a CAGR of +29.1%, recorded the highest rates of growth with regard to the value of imports, 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, surging by 3.4% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 an increase of 29% against the previous year. As a result, import price attained the peak level of $X per ton. From 2020 to 2022, the average import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+2.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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