U.S.: Steel Spring Market 2025

Steel Spring Market Size in the U.S.

After two years of decline, the U.S. steel spring market increased by 7.9% to $X in 2021. The market value increased at an average annual rate of +3.3% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. 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.

Steel Spring Production in the U.S.

In value terms, steel spring production expanded modestly to $X in 2021. The total output value increased at an average annual rate of +2.2% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 with an increase of 8.8% against the previous year. Steel spring production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Steel Spring Exports

Exports from the U.S.

In 2021, shipments abroad of steel springs and leaves for springs was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports, however, saw a abrupt contraction. The exports peaked at X tons in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, steel spring exports surged to $X in 2021. The total export value increased at an average annual rate of +2.0% from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Mexico (X tons), Canada (X tons) and China (X tons) were the main destinations of steel spring exports from the United States, with a combined 88% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by China (with a CAGR of -1.0%), while the other leaders experienced a decline.

In value terms, Mexico ($X) remains the key foreign market for steel springs and leaves for springs exports from the United States, comprising 43% of total exports. The second position in the ranking was taken by Canada ($X), with a 21% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Mexico amounted to +3.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (-3.3% per year) and China (+13.0% per year).

Export Prices by Country

The average steel spring export price stood at $X per ton in 2021, growing by 13% against the previous year. Overall, export price indicated prominent growth from 2012 to 2021: its price increased at an average annual rate of +7.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, steel spring export price increased by +98.9% against 2012 indices. The growth pace was the most rapid in 2015 when the average export price increased by 28%. The export price peaked in 2021 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2021, 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 (+14.2%), while the prices for the other major destinations experienced more modest paces of growth.

Steel Spring Imports

Imports into the U.S.

In 2021, supplies from abroad of steel springs and leaves for springs was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +2.0% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations in certain years. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, steel spring imports surged to $X in 2021. The total import value increased at an average annual rate of +2.7% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat 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

In 2021, Mexico (X tons) constituted the largest steel spring supplier to the United States, accounting for a 54% share of total imports. Moreover, steel spring imports from Mexico exceeded the figures recorded by the second-largest supplier, China (X tons), fourfold. Canada (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Mexico was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: China (+8.2% per year) and Canada (-0.6% per year).

In value terms, Mexico ($X) constituted the largest supplier of steel springs and leaves for springs to the United States, comprising 49% of total imports. The second position in the ranking was held by Canada ($X), with an 11% share of total imports. It was followed by China, with a 9.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Mexico stood at +2.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (-1.6% per year) and China (+8.5% per year).

Import Prices by Country

The average steel spring import price stood at $X per ton in 2021, growing by 8.4% against the previous year. In general, the import price saw a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+3.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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