Metal Spring Washer Market

The article provides a comprehensive analysis of the global metal spring washer market, highlighting the expected growth trends in consumption and production over the period from 2022 to 2030. It discusses the performance of major countries in terms of consumption, production, imports, and exports, as well as the average import and export prices. China, the United States, and India were identified as the top consumers of metal spring washers in 2022, with a combined share of 54% of global consumption. Germany, the United States, and Mexico emerged as the major importers, while Germany, China, and the United States were the largest exporters in terms of value. The article also examines the average import and export prices, indicating significant variations among countries. Overall, the data suggests a positive outlook for the global metal spring washer market, with expected growth in both volume and value terms in the coming years.

Market Forecast

Driven by rising demand for metal spring washer worldwide, the market is expected to start an upward consumption trend over the next eight-year period. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +0.7% for the period from 2022 to 2030, which is projected to bring the market volume to 370K tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +2.9% for the period from 2022 to 2030, which is projected to bring the market value to $3.6B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Iron Or Steel Spring Washers

After two years of growth, consumption of iron or steel spring washers decreased by -2.8% to 350K tons in 2022. Overall, consumption recorded a slight downturn. The growth pace was the most rapid in 2018 with an increase of 3.5%. Global consumption peaked at 420K tons in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

The global metal spring washer market value fell modestly to $2.8B in 2022, with a decrease of -3.8% 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 showed a mild setback. Global consumption peaked at $3.4B in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (98K tons), the United States (53K tons) and India (37K tons), with a combined 54% share of global consumption. Russia, Brazil, Japan, Mexico, Germany, Romania, Turkey, Thailand and Canada lagged somewhat behind, together accounting for a further 26%.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by Romania (with a CAGR of +18.8%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($842M) led the market, alone. The second position in the ranking was taken by China ($313M). It was followed by India.

From 2012 to 2022, the average annual rate of growth in terms of value in the United States stood at -3.4%. In the other countries, the average annual rates were as follows: China (-1.9% per year) and India (-0.1% per year).

In 2022, the highest levels of metal spring washer per capita consumption was registered in Romania (354 kg per 1000 persons), followed by the United States (159 kg per 1000 persons), Canada (137 kg per 1000 persons) and Russia (129 kg per 1000 persons), while the world average per capita consumption of metal spring washer was estimated at 45 kg per 1000 persons.

In Romania, metal spring washer per capita consumption expanded at an average annual rate of +19.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United States (-2.4% per year) and Canada (+0.4% per year).

Production

World Production of Iron Or Steel Spring Washers

In 2022, after two years of growth, there was decline in production of iron or steel spring washers, when its volume decreased by -1.8% to 318K tons. In general, production showed a pronounced decrease. The pace of growth appeared the most rapid in 2018 with an increase of 3.1% against the previous year. Over the period under review, global production hit record highs at 400K tons in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

In value terms, metal spring washer production declined slightly to $2.4B in 2022 estimated in export price. Over the period under review, production saw a perceptible shrinkage. The growth pace was the most rapid in 2018 when the production volume increased by 11% against the previous year. Over the period under review, global production reached the peak level at $3B in 2012; however, from 2013 to 2022, production remained at a lower figure.

Production By Country

China (121K tons) remains the largest metal spring washer producing country worldwide, accounting for 38% of total volume. Moreover, metal spring washer production in China exceeded the figures recorded by the second-largest producer, the United States (46K tons), threefold. India (38K tons) ranked third in terms of total production with a 12% share.

From 2012 to 2022, the average annual growth rate of volume in China amounted to -1.9%. In the other countries, the average annual rates were as follows: the United States (-2.4% per year) and India (+1.3% per year).

Imports

World Imports of Iron Or Steel Spring Washers

In 2022, approx. 107K tons of iron or steel spring washers were imported worldwide; shrinking by -1.7% on the previous year. The total import volume increased at an average annual rate of +1.7% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 18% against the previous year. As a result, imports reached the peak of 109K tons, and then reduced slightly in the following year.

In value terms, metal spring washer imports expanded slightly to $920M in 2022. The total import value increased at an average annual rate of +3.8% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 25%. Global imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports By Country

In 2022, the United States (11K tons), Mexico (10K tons), Germany (8.2K tons), Romania (6.8K tons), Japan (5.1K tons), Austria (4.5K tons), Canada (4.4K tons), Poland (3.4K tons), France (3.4K tons), Italy (3K tons), the Netherlands (2.8K tons) and Belgium (2.8K tons) was the major importer of iron or steel spring washers in the world, generating 61% of total import. Russia (2.7K tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Romania (with a CAGR of +17.9%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest metal spring washer importing markets worldwide were Germany ($116M), the United States ($87M) and Mexico ($69M), together comprising 30% of global imports. Austria, France, Poland, Romania, the Netherlands, Italy, Japan, Canada, Belgium and Russia lagged somewhat behind, together comprising a further 26%.

Poland, with a CAGR of +9.0%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average metal spring washer import price stood at $8,571 per ton in 2022, increasing by 5.1% against the previous year. Over the last decade, it increased at an average annual rate of +2.1%. The most prominent rate of growth was recorded in 2018 when the average import price increased by 9% 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 Germany ($14,109 per ton), while Russia ($3,160 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+7.2%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Iron Or Steel Spring Washers

In 2022, overseas shipments of iron or steel spring washers increased by 3.2% to 75K tons, rising for the second year in a row after two years of decline. In general, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 52%. Over the period under review, the global exports reached the maximum at 77K tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, metal spring washer exports rose slightly to $828M in 2022. The total export value increased at an average annual rate of +4.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of 28% against the previous year. Over the period under review, the global exports attained the peak figure in 2022 and are likely to continue growth in the immediate term.

Exports By Country

China represented the major exporting country with an export of about 25K tons, which finished at 34% of total exports. Germany (14K tons) held an 18% share (based on physical terms) of total exports, which put it in second place, followed by Italy (12%) and the United States (4.9%). Poland (2.6K tons), Bosnia and Herzegovina (2.5K tons), France (2K tons), India (1.9K tons), Japan (1.8K tons), Taiwan (Chinese) (1.4K tons) and Turkey (1.2K tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +22.1%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, Germany ($255M) remains the largest metal spring washer supplier worldwide, comprising 31% of global exports. The second position in the ranking was held by China ($89M), with an 11% share of global exports. It was followed by the United States, with an 8.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Germany totaled +4.0%. The remaining exporting countries recorded the following average annual rates of exports growth: China (+4.6% per year) and the United States (+6.1% per year).

Export Prices By Country

In 2022, the average metal spring washer export price amounted to $11,017 per ton, stabilizing at the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.7%. The pace of growth appeared the most rapid in 2016 when the average export price increased by 46% against the previous year. As a result, the export price reached the peak level of $11,657 per ton. From 2017 to 2022, the average export prices remained at a somewhat 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 the United States ($19,588 per ton), while China ($3,514 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+11.2%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform