Ukraine: Steel Spring Market 2025

Steel Spring Market Size in Ukraine

In 2021, after two years of decline, there was significant growth in the Ukrainian steel spring market, when its value increased by 19% to $X. Over the period under review, consumption, however, showed a deep downturn. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Steel Spring Production in Ukraine

In value terms, steel spring production fell to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a deep setback. The growth pace was the most rapid in 2016 when the production volume increased by 77%. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Steel Spring Exports

Exports from Ukraine

In 2021, after six years of decline, there was significant growth in overseas shipments of steel springs and leaves for springs, when their volume increased by 13% to X tons. Over the period under review, exports, however, saw a precipitous descent. The most prominent rate of growth was recorded in 2013 with an increase of 29%. The exports peaked at X tons in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, steel spring exports skyrocketed to $X in 2021. In general, exports, however, continue to indicate a deep downturn. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Russia (X tons) was the main destination for steel spring exports from Ukraine, with a 31% share of total exports. Moreover, steel spring exports to Russia exceeded the volume sent to the second major destination, Romania (X tons), threefold. The third position in this ranking was held by Georgia (X tons), with a 9.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Russia stood at -30.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+17.7% per year) and Georgia (-13.4% per year).

In value terms, the largest markets for steel spring exported from Ukraine were Russia ($X), India ($X) and Kazakhstan ($X), together accounting for 51% of total exports. Hungary, Belarus, Latvia, Romania, Moldova, Germany, Georgia, Poland, Bulgaria and Lithuania lagged somewhat behind, together accounting for a further 35%.

In terms of the main countries of destination, Bulgaria, with a CAGR of +18.4%, saw the highest rates of growth with regard to the value of exports, 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 steel spring export price amounted to $X per ton, with an increase of 26% against the previous year. In general, the export price recorded a remarkable increase. The pace of growth was the most pronounced in 2019 an increase of 46%. Over the period under review, the average export prices hit record highs in 2021 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to Georgia ($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 Belarus (+26.6%), while the prices for the other major destinations experienced more modest paces of growth.

Steel Spring Imports

Imports into Ukraine

After two years of decline, overseas purchases of steel springs and leaves for springs increased by 10% to X tons in 2021. Overall, imports, however, saw a deep slump. The pace of growth appeared the most rapid in 2018 with an increase of 44%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, steel spring imports soared to $X in 2021. Over the period under review, imports, however, continue to indicate a pronounced decline. The most prominent rate of growth was recorded in 2018 when imports increased by 31%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

Poland (X tons), Russia (X tons) and China (X tons) were the main suppliers of steel spring imports to Ukraine, with a combined 67% share of total imports. These countries were followed by Turkey, Sweden, Germany and Belarus, which together accounted for a further 20%.

From 2012 to 2021, the biggest increases were recorded for Sweden (with a CAGR of +30.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest steel spring suppliers to Ukraine were Poland ($X), China ($X) and Sweden ($X), with a combined 50% share of total imports.

Sweden, with a CAGR of +26.9%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average steel spring import price stood at $X per ton in 2021, growing by 11% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.7%. The pace of growth appeared the most rapid in 2014 when the average import price increased by 16%. The import price peaked in 2021 and is expected to retain 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 Germany ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+3.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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