U.S.: Market for Iron or Steel Hot-Worked Helical Springs 2024

Market Size for Iron or Steel Hot-Worked Helical Springs in the U.S.

The U.S. metal hot-worked helical spring market rose modestly to $X in 2021, increasing by 3.2% against the previous year. In general, the total consumption indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +7.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +91.2% against 2012 indices. Over the period under review, the market attained the maximum level in 2021 and is likely to see gradual growth in the near future.

Production of Iron or Steel Hot-Worked Helical Springs in the U.S.

In value terms, metal hot-worked helical spring production dropped slightly to $X in 2021. In general, the total production indicated moderate growth from 2012 to 2021: its value increased at an average annual rate of +4.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +53.3% against 2012 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by 27%. Metal hot-worked helical spring production peaked at $X in 2020, and then fell modestly in the following year.

Exports of Iron or Steel Hot-Worked Helical Springs

Exports from the U.S.

In 2021, overseas shipments of iron or steel hot-worked helical springs were finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. In general, exports, however, saw a deep contraction. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, metal hot-worked helical spring exports surged to $X in 2021. The total export value increased at an average annual rate of +1.2% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

Mexico (X tons) was the main destination for metal hot-worked helical spring exports from the United States, with a 58% share of total exports. Moreover, metal hot-worked helical spring exports to Mexico exceeded the volume sent to the second major destination, Canada (X tons), twofold.

From 2012 to 2021, the average annual growth rate of volume to Mexico stood at -5.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (-11.3% per year) and China (-1.7% per year).

In value terms, Mexico ($X) remains the key foreign market for iron or steel hot-worked helical springs exports from the United States, comprising 48% of total exports. The second position in the ranking was held by Canada ($X), with a 19% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Mexico totaled +2.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (-5.7% per year) and China (+20.4% per year).

Export Prices by Country

The average metal hot-worked helical spring export price stood at $X per ton in 2021, increasing by 18% against the previous year. In general, the export price showed a prominent expansion. The growth pace was the most rapid in 2015 when the average export price increased by 46%. Over the period under review, the average export prices reached the maximum in 2021 and is likely to see gradual growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Canada ($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 China (+22.4%), 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 the U.S.

In 2021, approx. X tons of iron or steel hot-worked helical springs were imported into the United States; picking up by 46% against the previous year's figure. Over the period under review, total imports indicated strong growth from 2012 to 2021: its volume increased at an average annual rate of +6.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +53.2% against 2017 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, metal hot-worked helical spring imports surged to $X in 2021. The total import value increased at an average annual rate of +4.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Mexico (X tons), Poland (X tons) and Germany (X tons) were the main suppliers of metal hot-worked helical spring imports to the United States, together comprising 61% of total imports. Canada, China, Turkey, Australia and Japan lagged somewhat behind, together accounting for a further 34%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of +22.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X) constituted the largest supplier of iron or steel hot-worked helical springs to the United States, comprising 29% of total imports. The second position in the ranking was taken by Germany ($X), with a 13% share of total imports. It was followed by China, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Mexico amounted to +2.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+7.7% per year) and China (+11.9% per year).

Import Prices by Country

The average metal hot-worked helical spring import price stood at $X per ton in 2021, waning by -2.6% against the previous year. Overall, the import price continues to indicate a mild decline. The pace of growth was the most pronounced in 2018 an increase of 7.8% against the previous year. As a result, import price attained the peak level of $X per ton. From 2019 to 2021, the average 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 Japan ($X per ton), while the price for Turkey ($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 (+4.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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