Overview of the Global Market for Iron or Steel Leaf-Springs and Leaves

Market Size for Iron or Steel Leaf-Springs and Leaves

The global iron or steel leaf-spring market shrank slightly to $X in 2022, waning by -2% against the previous year. Overall, consumption continues to indicate a mild contraction. As a result, consumption reached the peak level of $X. From 2016 to 2022, the growth of the global market remained at a lower figure.

Production of Iron or Steel Leaf-Springs and Leaves

In value terms, iron or steel leaf-spring production shrank to $X in 2022 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the production volume increased by 25%. Global production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Exports of Iron or Steel Leaf-Springs and Leaves

Exports

In 2022, the amount of iron or steel leaf-springs and leaves exported worldwide shrank to X tons, declining by -6.2% on the year before. The total export volume increased at an average annual rate of +1.1% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2021 when exports increased by 33% against the previous year. As a result, the exports reached the peak of X tons, and then contracted in the following year.

In value terms, iron or steel leaf-spring exports stood at $X in 2022. The total export value increased at an average annual rate of +1.5% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when exports increased by 25%. The global exports peaked in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

Mexico (X tons) and China (X tons) represented roughly 44% of total exports in 2022. Indonesia (X tons) ranks next in terms of the total exports with a 6.7% share, followed by Spain (5.4%) and the United States (4.5%). The following exporters - Turkey (X tons), Germany (X tons), India (X tons), Tunisia (X tons), Canada (X tons), Austria (X tons), Romania (X tons) and France (X tons) - together made up 25% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Turkey (with a CAGR of +13.2%), while the other global leaders experienced more modest paces of growth.

In value terms, the largest iron or steel leaf-spring supplying countries worldwide were Mexico ($X), China ($X) and Germany ($X), with a combined 46% share of global exports. Spain, Indonesia, Canada, Turkey, the United States, Tunisia, India, Austria, France and Romania lagged somewhat behind, together comprising a further 33%.

Among the main exporting countries, Turkey, with a CAGR of +14.6%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

The average iron or steel leaf-spring export price stood at $X per ton in 2022, increasing by 7.2% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. Over the period under review, the average export prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per ton), while India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+3.6%), while the other global leaders experienced more modest paces of growth.

Imports of Iron or Steel Leaf-Springs and Leaves

Imports

Global iron or steel leaf-spring imports shrank to X tons in 2022, waning by -5.6% compared with the year before. Over the period under review, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 20%. Over the period under review, global imports hit record highs at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, iron or steel leaf-spring imports reduced to $X in 2022. In general, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 28% against the previous year. As a result, imports reached the peak of $X, leveling off in the following year.

Imports by Country

In 2022, the United States (X tons) represented the major importer of iron or steel leaf-springs and leaves, comprising 39% of total imports. It was distantly followed by Germany (X tons), achieving a 7.1% share of total imports. The following importers - Japan (X tons), Thailand (X tons), the Netherlands (X tons), Australia (X tons), Italy (X tons), Poland (X tons), Mexico (X tons), Canada (X tons) and Russia (X tons) - together made up 23% of total imports.

The United States experienced a relatively flat trend pattern with regard to volume of imports of iron or steel leaf-springs and leaves. At the same time, Canada (+17.2%), Poland (+10.5%), Thailand (+7.7%), Australia (+3.4%), the Netherlands (+2.5%) and Italy (+2.0%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing importer imported in the world, with a CAGR of +17.2% from 2012-2022. Mexico experienced a relatively flat trend pattern. By contrast, Japan (-1.4%), Germany (-2.6%) and Russia (-4.4%) illustrated a downward trend over the same period. Thailand (+1.7 p.p.) and Canada (+1.5 p.p.) significantly strengthened its position in terms of the global imports, while Germany and the United States saw its share reduced by -2.4% and -3% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported iron or steel leaf-springs and leaves worldwide, comprising 32% of global imports. The second position in the ranking was taken by Germany ($X), with a 7.4% share of global imports. It was followed by the Netherlands, with a 3.4% share.

In the United States, iron or steel leaf-spring imports expanded at an average annual rate of +1.3% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Germany (-2.6% per year) and the Netherlands (+3.8% per year).

Import Prices by Country

In 2022, the average iron or steel leaf-spring import price amounted to $X per ton, picking up by 5.1% against the previous year. Overall, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 7% against the previous year. Over the period under review, average import prices reached the peak figure in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Canada ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+2.4%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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