Turkey: Steel Spring Market 2025

Steel Spring Market Size in Turkey

The Turkish steel spring market soared to $X in 2021, surging by 21% against the previous year. In general, consumption posted a strong expansion. Steel spring consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Steel Spring Production in Turkey

In value terms, steel spring production soared to $X in 2021 estimated in export price. Overall, production enjoyed significant growth. The growth pace was the most rapid in 2015 when the production volume increased by 105%. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Steel Spring Exports

Exports from Turkey

In 2021, shipments abroad of steel springs and leaves for springs was finally on the rise to reach X tons after four years of decline. Overall, exports recorded a relatively flat trend pattern. Over the period under review, the exports reached the maximum at X tons in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

In value terms, steel spring exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +3.6% from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Germany (X tons) was the main destination for steel spring exports from Turkey, accounting for a 24% share of total exports. Moreover, steel spring exports to Germany exceeded the volume sent to the second major destination, Poland (X tons), twofold. The UK (X tons) ranked third in terms of total exports with an 8.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Germany totaled +18.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (+27.7% per year) and the UK (-14.9% per year).

In value terms, Germany ($X) remains the key foreign market for steel springs and leaves for springs exports from Turkey, comprising 27% of total exports. The second position in the ranking was held by Poland ($X), with a 13% share of total exports. It was followed by the UK, with an 8.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Germany stood at +17.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (+27.3% per year) and the UK (-11.1% per year).

Export Prices by Country

In 2021, the average steel spring export price amounted to $X per ton, increasing by 11% against the previous year. Over the last nine years, it increased at an average annual rate of +3.1%. The pace of growth was the most pronounced in 2018 when the average export price increased by 22% against the previous year. The export price peaked in 2021 and is likely to see steady growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Georgia ($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 Serbia (+5.3%), while the prices for the other major destinations experienced more modest paces of growth.

Steel Spring Imports

Imports into Turkey

In 2021, after four years of decline, there was significant growth in overseas purchases of steel springs and leaves for springs, when their volume increased by 21% to X tons. Overall, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when imports increased by 32%. Over the period under review, imports reached the peak figure at X tons in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, steel spring imports surged to $X in 2021. The total import value increased at an average annual rate of +3.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Germany (X tons), Poland (X tons) and Spain (X tons) were the main suppliers of steel spring imports to Turkey, with a combined 53% share of total imports. China, Italy, Romania, South Korea, the United States, France, the Czech Republic, Russia, Hungary and Japan lagged somewhat behind, together comprising a further 38%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Russia (with a CAGR of +38.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of steel springs and leaves for springs to Turkey, comprising 36% of total imports. The second position in the ranking was taken by Italy ($X), with an 8.9% share of total imports. It was followed by China, with a 7.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany stood at +8.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+0.1% per year) and China (+12.5% per year).

Import Prices by Country

The average steel spring import price stood at $X per ton in 2021, therefore, remained relatively stable against the previous year. Over the last nine years, it increased at an average annual rate of +3.1%. The most prominent rate of growth was recorded in 2018 an increase of 20%. The import price peaked in 2021 and is likely to continue growth in years to come.

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 Japan ($X per ton), while the price for Hungary ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Romania (+10.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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