Uruguay: Steel Spring Market 2024

Steel Spring Market Size in Uruguay

The Uruguayan steel spring market surged to $X in 2021, growing by 106% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, saw a relatively flat trend pattern. Steel spring consumption peaked at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Steel Spring Exports

Exports from Uruguay

Steel spring exports from Uruguay skyrocketed to X kg in 2021, increasing by 110% against the year before. Over the period under review, exports, however, showed a abrupt curtailment. The most prominent rate of growth was recorded in 2016 when exports increased by 120%. As a result, the exports attained the peak of X tons. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, steel spring exports surged to $X in 2021. In general, exports, however, recorded a deep contraction. The growth pace was the most rapid in 2019 when exports increased by 231% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Free Zones (X kg) was the main destination for steel spring exports from Uruguay, with a 52% share of total exports. Moreover, steel spring exports to Free Zones exceeded the volume sent to the second major destination, the United States (X kg), fourfold. The third position in this ranking was held by Canada (X kg), with an 11% share.

From 2012 to 2021, the average annual growth rate of volume to Free Zones stood at +48.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-16.2% per year) and Canada (+71.6% per year).

In value terms, Free Zones ($X) remains the key foreign market for steel springs and leaves for springs exports from Uruguay, comprising 55% of total exports. The second position in the ranking was held by the United States ($X), with a 7.4% share of total exports. It was followed by Brazil, with a 6.2% share.

From 2012 to 2021, the average annual growth rate of value to Free Zones totaled +55.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-23.9% per year) and Brazil (-27.2% per year).

Export Prices by Country

The average steel spring export price stood at $X per ton in 2021, dropping by -2.1% against the previous year. Overall, the export price, however, saw a measured expansion. The most prominent rate of growth was recorded in 2017 when the average export price increased by 177% against the previous year. Over the period under review, the average export prices reached the peak figure 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 Mexico ($X per ton), while the average price for exports to Argentina ($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 Paraguay (+16.2%), while the prices for the other major destinations experienced more modest paces of growth.

Steel Spring Imports

Imports into Uruguay

In 2021, the amount of steel springs and leaves for springs imported into Uruguay soared to X tons, growing by 87% on the year before. In general, imports, however, recorded a relatively flat trend pattern. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, steel spring imports soared to $X in 2021. Over the period under review, imports continue to indicate a relatively flat trend pattern. Imports peaked at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Brazil (X tons) constituted the largest steel spring supplier to Uruguay, with a 55% share of total imports. Moreover, steel spring imports from Brazil exceeded the figures recorded by the second-largest supplier, China (X tons), fourfold. France (X tons) ranked third in terms of total imports with a 7.9% share.

From 2012 to 2021, the average annual growth rate of volume from Brazil stood at +2.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-5.9% per year) and France (+48.5% per year).

In value terms, Brazil ($X) constituted the largest supplier of steel springs and leaves for springs to Uruguay, comprising 42% of total imports. The second position in the ranking was taken by China ($X), with a 13% share of total imports. It was followed by the United States, with a 7.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Brazil was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: China (+0.1% per year) and the United States (+3.1% per year).

Import Prices by Country

In 2021, the average steel spring import price amounted to $X per ton, surging by 12% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the average import price increased by 26% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Brazil ($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 (+6.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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