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

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

The Turkish iron or steel leaf-spring market declined sharply to $X in 2022, with a decrease of -29.2% against the previous year. Overall, consumption recorded a pronounced shrinkage. As a result, consumption attained the peak level of $X. From 2016 to 2022, the growth of the market remained at a somewhat lower figure.

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

In value terms, iron or steel leaf-spring production declined markedly to $X in 2022 estimated in export price. In general, production, however, showed a remarkable increase. The most prominent rate of growth was recorded in 2015 with an increase of 522%. Iron or steel leaf-spring production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Exports of Iron or Steel Leaf-Springs and Leaves

Exports from Turkey

In 2022, iron or steel leaf-spring exports from Turkey expanded to X tons, increasing by 2.1% on the previous year. Overall, exports enjoyed a strong increase. The pace of growth appeared the most rapid in 2018 when exports increased by 49% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are likely to continue growth in the immediate term.

In value terms, iron or steel leaf-spring exports surged to $X in 2022. In general, exports continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2018 when exports increased by 74% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

Germany (X tons) was the main destination for iron or steel leaf-spring exports from Turkey, with a 34% share of total exports. Moreover, iron or steel leaf-spring exports to Germany exceeded the volume sent to the second major destination, Poland (X tons), twofold. The third position in this ranking was taken by Hungary (X tons), with a 7.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany amounted to +15.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (+26.6% per year) and Hungary (+110.2% per year).

In value terms, Germany ($X) remains the key foreign market for iron or steel leaf-springs and leaves exports from Turkey, comprising 36% of total exports. The second position in the ranking was taken by Poland ($X), with a 16% share of total exports. It was followed by Hungary, with a 6.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Germany totaled +16.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (+27.2% per year) and Hungary (+100.9% per year).

Export Prices by Country

In 2022, the average iron or steel leaf-spring export price amounted to $X per ton, increasing by 13% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.2%. The most prominent rate of growth was recorded in 2018 an increase of 17% against the previous year. Over the period under review, the average export prices attained the peak figure in 2022 and is likely to see steady growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Iraq ($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 Russia (+3.3%), 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 Turkey

In 2022, the amount of iron or steel leaf-springs and leaves imported into Turkey shrank sharply to X tons, waning by -38.1% on 2021 figures. In general, imports continue to indicate a deep setback. The pace of growth was the most pronounced in 2021 when imports increased by 184% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, iron or steel leaf-spring imports dropped slightly to $X in 2022. Over the period under review, imports saw a pronounced slump. The pace of growth was the most pronounced in 2021 with an increase of 74%. Imports peaked at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

Germany (X tons), Austria (X tons) and China (X tons) were the main suppliers of iron or steel leaf-spring imports to Turkey, together comprising 63% of total imports.

From 2012 to 2022, the biggest increases were recorded for Austria (with a CAGR of +80.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest iron or steel leaf-spring suppliers to Turkey were Austria ($X), Germany ($X) and China ($X), with a combined 65% share of total imports.

In terms of the main suppliers, Austria, with a CAGR of +84.5%, 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 iron or steel leaf-spring import price stood at $X per ton in 2022, jumping by 59% against the previous year. In general, the import price continues to indicate a prominent increase. The import price peaked at $X per ton in 2020; however, from 2021 to 2022, 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 France ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+13.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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