Thailand: Market for Iron or Steel Flat Spiral or Discs Springs 2024

Market Size for Iron or Steel Flat Spiral or Discs Springs in Thailand

The Thai market for iron or steel flat spiral or discs springs was finally on the rise to reach $X in 2021, after two years of decline. Over the period under review, consumption saw a modest expansion. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Production of Iron or Steel Flat Spiral or Discs Springs in Thailand

In value terms, metal spiral or discs spring production skyrocketed to $X in 2021 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 41% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Exports of Iron or Steel Flat Spiral or Discs Springs

Exports from Thailand

In 2021, overseas shipments of iron or steel flat spiral or discs springs were finally on the rise to reach X tons after three years of decline. In general, exports, however, saw a pronounced setback. The most prominent rate of growth was recorded in 2017 when exports increased by 17%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, metal spiral or discs spring exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +1.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 with an increase of 22% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Indonesia (X tons), Vietnam (X tons) and the United States (X tons) were the main destinations of metal spiral or discs spring exports from Thailand, together comprising 45% of total exports.

From 2012 to 2021, the biggest increases were recorded for the United States (with a CAGR of +37.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Vietnam ($X) and the United States ($X) appeared to be the largest markets for metal spiral or discs spring exported from Thailand worldwide, together comprising 50% of total exports.

The United States, with a CAGR of +31.9%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination 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, increasing by 5.7% against the previous year. Over the period under review, export price indicated a notable increase from 2012 to 2021: its price increased at an average annual rate of +3.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, metal spiral or discs spring export price decreased by -14.2% against 2018 indices. The most prominent rate of growth was recorded in 2018 an increase of 37% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Japan ($X per ton), while the average price for exports to Taiwan (Chinese) ($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 Brazil (+11.9%), 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 Thailand

Metal spiral or discs spring imports into Thailand totaled X tons in 2021, with an increase of 11% compared with the year before. In general, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of 74%. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, metal spiral or discs spring imports skyrocketed to $X in 2021. Overall, imports, however, showed a slight downturn. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

China (X tons), Japan (X tons) and Taiwan (Chinese) (X tons) were the main suppliers of metal spiral or discs spring imports to Thailand, with a combined 74% share of total imports. The United States, India, Malaysia, Germany, South Korea and Romania lagged somewhat behind, together comprising a further 18%.

From 2012 to 2021, the biggest increases were recorded for India (with a CAGR of +16.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), China ($X) and the United States ($X) were the largest metal spiral or discs spring suppliers to Thailand, with a combined 65% share of total imports. Germany, Taiwan (Chinese), Malaysia, India, South Korea and Romania lagged somewhat behind, together accounting for a further 24%.

In terms of the main suppliers, India, with a CAGR of +11.8%, saw 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 import price for iron or steel flat spiral or discs springs stood at $X per ton in 2021, increasing by 15% against the previous year. In general, the import price, however, recorded a slight downturn. The pace of growth was the most pronounced in 2017 an increase of 43%. As a result, import price attained the peak level of $X per ton. From 2018 to 2021, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Germany ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+8.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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