Uruguay: Market for Iron or Steel Hot-Worked Helical Springs 2024

Market Size for Iron or Steel Hot-Worked Helical Springs in Uruguay

In 2021, the Uruguayan metal hot-worked helical spring market increased by 83% to $X for the first time since 2017, thus ending a three-year declining trend. Overall, consumption recorded a slight expansion. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Exports of Iron or Steel Hot-Worked Helical Springs

Exports from Uruguay

In 2021, metal hot-worked helical spring exports from Uruguay surged to X kg, increasing by 129% against 2020. In general, exports, however, showed a sharp decrease. The pace of growth appeared the most rapid in 2019 when exports increased by 286% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, metal hot-worked helical spring exports skyrocketed to $X in 2021. Over the period under review, exports, however, recorded a abrupt descent. The growth pace was the most rapid in 2019 with an increase of 763%. As a result, the exports reached the peak of $X. From 2020 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Canada (X kg), the United States (X kg) and Argentina (X kg) were the main destinations of metal hot-worked helical spring exports from Uruguay, with a combined 82% share of total exports.

From 2012 to 2021, the biggest increases were recorded for the United States (with a CAGR of +16.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Canada ($X) and Peru ($X) constituted the largest markets for metal hot-worked helical spring exported from Uruguay worldwide, with a combined 61% share of total exports.

In terms of the main countries of destination, the United States, with a CAGR of +10.5%, 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

The average metal hot-worked helical spring export price stood at $X per ton in 2021, waning by -47.6% against the previous year. In general, the export price, however, continues to indicate buoyant growth. The most prominent rate of growth was recorded in 2017 when the average export price increased by 252%. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Peru ($X per ton), while the average price for exports to Argentina ($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 Chile (+52.1%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Iron or Steel Hot-Worked Helical Springs

Imports into Uruguay

In 2021, overseas purchases of iron or steel hot-worked helical springs increased by 78% to X tons, rising for the second consecutive year after three years of decline. Overall, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when imports increased by 91%. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, metal hot-worked helical spring imports skyrocketed to $X in 2021. Over the period under review, imports saw mild growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X tons), Brazil (X tons) and Argentina (X tons) were the main suppliers of metal hot-worked helical spring imports to Uruguay, together comprising 87% of total imports. The United States and Italy lagged somewhat behind, together accounting for a further 6.3%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +23.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X), China ($X) and the United States ($X) appeared to be the largest metal hot-worked helical spring suppliers to Uruguay, together comprising 62% of total imports.

In terms of the main suppliers, China, with a CAGR of +9.3%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average metal hot-worked helical spring import price stood at $X per ton in 2021, picking up by 4.1% against the previous year. In general, import price indicated modest growth from 2012 to 2021: its price increased at an average annual rate of +1.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, metal hot-worked helical spring import price decreased by -26.2% against 2017 indices. The most prominent rate of growth was recorded in 2017 when the average import price increased by 47% against the previous year. As a result, import price attained the peak level of $X per ton. From 2018 to 2021, the average import prices remained at a somewhat lower figure.

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 the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Argentina (+3.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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