United Kingdom: Metal Spring Washer Market 2024

Metal Spring Washer Market Size in the UK

The UK metal spring washer market rose modestly to $X in 2022, with an increase of 3.1% against the previous year. Overall, the total consumption indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +9.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +71.4% against 2016 indices. Over the period under review, the market attained the maximum level in 2022 and is likely to see gradual growth in the immediate term.

Metal Spring Washer Production in the UK

In value terms, metal spring washer production reached $X in 2022 estimated in export price. In general, production, however, saw a significant expansion. The pace of growth was the most pronounced in 2014 with an increase of 553% against the previous year. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Metal Spring Washer Exports

Exports from the UK

In 2022, shipments abroad of iron or steel spring washers increased by 6.2% to X tons, rising for the second consecutive year after three years of decline. Over the period under review, total exports indicated a measured expansion from 2012 to 2022: its volume increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +83.6% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 73%. Over the period under review, the exports attained the maximum in 2022 and are likely to see gradual growth in the immediate term.

In value terms, metal spring washer exports soared to $X in 2022. In general, exports showed buoyant growth. The pace of growth was the most pronounced in 2021 when exports increased by 55% 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), Romania (X tons) and the Netherlands (X tons) were the main destinations of metal spring washer exports from the UK, with a combined 48% share of total exports. Saudi Arabia, Ireland, the Czech Republic, the United States, the United Arab Emirates, France, China, Slovakia, Costa Rica and India lagged somewhat behind, together comprising a further 36%.

From 2012 to 2022, the biggest increases were recorded for Saudi Arabia (with a CAGR of +59.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Saudi Arabia ($X) and Romania ($X) appeared to be the largest markets for metal spring washer exported from the UK worldwide, with a combined 35% share of total exports. The United States, the Netherlands, Slovakia, Costa Rica, France, the Czech Republic, the United Arab Emirates, Ireland, China and India lagged somewhat behind, together comprising a further 38%.

In terms of the main countries of destination, Slovakia, with a CAGR of +79.9%, recorded the highest growth rate of 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 2022, the average metal spring washer export price amounted to $X per ton, with an increase of 9.1% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.9%. The most prominent rate of growth was recorded in 2019 an increase of 21%. As a result, the export price attained the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Costa Rica ($X per ton), while the average price for exports to Ireland ($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 Slovakia (+19.0%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Spring Washer Imports

Imports into the UK

In 2022, after two years of growth, there was significant decline in purchases abroad of iron or steel spring washers, when their volume decreased by -9.5% to X tons. Over the period under review, total imports indicated a buoyant expansion from 2012 to 2022: its volume increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +41.1% against 2019 indices. The most prominent rate of growth was recorded in 2013 with an increase of 29% against the previous year. Over the period under review, imports reached the maximum at X tons in 2021, and then dropped in the following year.

In value terms, metal spring washer imports soared to $X in 2022. Overall, total imports indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +55.5% against 2020 indices. The most prominent rate of growth was recorded in 2018 with an increase of 36%. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, China (X tons) constituted the largest metal spring washer supplier to the UK, accounting for a 38% share of total imports. Moreover, metal spring washer imports from China exceeded the figures recorded by the second-largest supplier, Ireland (X tons), twofold. Germany (X tons) ranked third in terms of total imports with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +18.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Ireland (+14.1% per year) and Germany (+1.6% per year).

In value terms, the largest metal spring washer suppliers to the UK were the United States ($X), Germany ($X) and China ($X), with a combined 58% share of total imports. Sweden, Austria, Ireland, Italy, France, India, Poland, Taiwan (Chinese) and Japan lagged somewhat behind, together accounting for a further 36%.

Ireland, with a CAGR of +16.2%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average metal spring washer import price amounted to $X per ton, growing by 37% against the previous year. Over the period under review, the import price, however, recorded a slight descent. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Ireland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+13.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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