Report Update: May 1, 2024

Latvia - Iron Or Steel Hot-Worked Helical Springs - Market Analysis, Forecast, Size, Trends And Insights

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Price for Metal Hot-Worked Helical Spring in Latvia - 2023

Price for Metal Hot-Worked Helical Spring in Latvia (CIF) - 2022

In 2022, the average metal hot-worked helical spring import price amounted to $7,459 per ton, surging by 7.5% against the previous year. Over the last decade, it increased at an average annual rate of +4.3%. The most prominent rate of growth was recorded in 2021 when the average import price increased by 26% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Sweden ($13,971 per ton), while the price for Russia ($4,648 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ukraine (+16.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Metal Hot-Worked Helical Spring in Latvia (FOB) - 2023

The average metal hot-worked helical spring export price stood at $6,231 per ton in September 2023, increasing by 5.3% against the previous month. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in January 2023 when the average export price increased by 59% m-o-m. As a result, the export price attained the peak level of $9,538 per ton. From February 2023 to September 2023, the the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In September 2023, the country with the highest price was Norway ($17,264 per ton), while the average price for exports to Sweden ($4,507 per ton) was amongst the lowest.

From September 2022 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to Poland (+2.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Metal Hot-Worked Helical Spring in Latvia

In 2022, approx. 539 tons of iron or steel hot-worked helical springs were imported into Latvia; waning by -21.1% against 2021. Overall, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 34%. As a result, imports reached the peak of 683 tons, and then plummeted in the following year.

In value terms, metal hot-worked helical spring imports contracted remarkably to $4M in 2022. Over the period under review, total imports indicated a buoyant expansion from 2019 to 2022: its value increased at an average annual rate of +11.7% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +43.7% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 69%. As a result, imports reached the peak of $4.7M, and then reduced remarkably in the following year.

Import of Metal Hot-Worked Helical Spring in Latvia (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Poland	1,044	910	1,504	1,313	7.9%
Germany	537	774	1,165	1,035	24.4%
Sweden	371	363	690	589	16.7%
Lithuania	324	168	564	389	6.3%
Belgium	33.0	33.0	128	153	66.7%
Estonia	88.3	78.3	95.7	127	12.9%
Netherlands	28.2	42.6	81.3	66.4	33.0%
Russia	132	117	32.8	14.3	-52.3%
Others	330	313	476	332	0.2%
Total	2,888	2,798	4,736	4,020	11.7%

Top Suppliers of Metal Hot-Worked Helical Spring to Latvia in 2022:

Poland (254.0 tons)
Germany (105.2 tons)
Lithuania (64.0 tons)
Sweden (42.2 tons)
Belgium (20.4 tons)
Estonia (18.4 tons)
Netherlands (11.5 tons)
Russia (3.1 tons)

Exports of Metal Hot-Worked Helical Spring in Latvia

For the fourth consecutive year, Latvia recorded growth in shipments abroad of iron or steel hot-worked helical springs, which increased by 16% to 494 tons in 2022. In general, exports showed significant growth. The pace of growth was the most pronounced in 2021 with an increase of 58%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, metal hot-worked helical spring exports expanded sharply to $3.9M in 2022. Overall, exports enjoyed significant growth. The pace of growth appeared the most rapid in 2021 with an increase of 52%. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the near future.

Export of Metal Hot-Worked Helical Spring in Latvia (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Sweden	556	863	1,517	1,887	50.3%
Norway	316	426	475	539	19.5%
Estonia	279	340	381	389	11.7%
Lithuania	203	208	333	291	12.8%
Finland	68.0	111	210	227	49.5%
Poland	54.8	52.9	139	174	47.0%
Russia	18.5	98.7	153	106	78.9%
Others	90.0	121	165	253	41.1%
Total	1,584	2,220	3,372	3,865	34.6%

Top Export Markets for Metal Hot-Worked Helical Spring from Latvia in 2022:

Sweden (348.9 tons)
Estonia (45.3 tons)
Norway (28.3 tons)
Poland (20.0 tons)
Finland (18.1 tons)
Lithuania (12.3 tons)
Russia (5.3 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the market for metal hot-worked helical spring in Latvia. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 25931631 - Iron or steel hot-worked helical springs
Prodcom 25931633 - Iron or steel cold-formed helical coil compression springs
Prodcom 25931635 - Iron or steel cold-formed helical coil tension springs
Prodcom 25931637 - Iron or steel cold-formed helical springs (excluding helical coil compression springs, helical coil tension springs)

Country coverage:

Latvia

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Latvia
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023