Asia: Market for Iron or Steel Flat Spiral or Discs Springs 2023

Market Size for Iron or Steel Flat Spiral or Discs Springs in Asia

In 2021, the Asian market for iron or steel flat spiral or discs springs increased by 7.2% to $X for the first time since 2018, thus ending a two-year declining trend. The market value increased at an average annual rate of +1.3% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2017 to 2021, the growth of the market remained at a somewhat lower figure.

Production of Iron or Steel Flat Spiral or Discs Springs in Asia

In value terms, metal spiral or discs spring production amounted to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.7% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when the production volume increased by 20% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2021, production growth failed to regain momentum.

Exports of Iron or Steel Flat Spiral or Discs Springs

Exports in Asia

Metal spiral or discs spring exports skyrocketed to X tons in 2021, picking up by 17% on the previous year's figure. The total export volume increased at an average annual rate of +1.0% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, metal spiral or discs spring exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +2.1% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China prevails in exports structure, accounting for X tons, which was near 52% of total exports in 2021. Taiwan (Chinese) (X tons) took an 8.5% share (based on physical terms) of total exports, which put it in second place, followed by Thailand (8.3%), Turkey (6.7%), India (6%) and South Korea (5.9%). Japan (X tons) followed a long way behind the leaders.

China was also the fastest-growing in terms of the iron or steel flat spiral or discs springs exports, with a CAGR of +3.8% from 2012 to 2021. At the same time, South Korea (+3.7%) and Taiwan (Chinese) (+2.7%) displayed positive paces of growth. Turkey experienced a relatively flat trend pattern. By contrast, India (-2.2%), Thailand (-2.6%) and Japan (-5.0%) illustrated a downward trend over the same period. From 2012 to 2021, the share of China increased by +11 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest metal spiral or discs spring supplier in Asia, comprising 33% of total exports. The second position in the ranking was held by Japan ($X), with a 15% share of total exports. It was followed by Thailand, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China totaled +7.9%. In the other countries, the average annual rates were as follows: Japan (-3.9% per year) and Thailand (+1.1% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2021, growing by 3.9% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.1%. The most prominent rate of growth was recorded in 2017 when the export price increased by 7.4% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Japan ($X per ton), while Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+4.8%), while the other leaders experienced more modest paces of growth.

Imports of Iron or Steel Flat Spiral or Discs Springs

Imports in Asia

In 2021, overseas purchases of iron or steel flat spiral or discs springs increased by 1.1% to X tons, rising for the third year in a row after five years of decline. Overall, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when imports increased by 9.7% against the previous year. The volume of import peaked at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, metal spiral or discs spring imports surged to $X in 2021. The total import value increased at an average annual rate of +1.5% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The purchases of the three major importers of iron or steel flat spiral or discs springs, namely Malaysia, India and Thailand, represented more than third of total import. Vietnam (X tons) took a 9.6% share (based on physical terms) of total imports, which put it in second place, followed by China (5.2%) and Turkey (4.5%). South Korea (X tons), Japan (X tons), Hong Kong SAR (X tons), Taiwan (Chinese) (X tons), Singapore (X tons), Indonesia (X tons) and the Philippines (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +12.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest metal spiral or discs spring importing markets in Asia were Thailand ($X), India ($X) and China ($X), together comprising 44% of total imports. Malaysia, Vietnam, South Korea, Turkey, the Philippines, Singapore, Taiwan (Chinese), Japan, Hong Kong SAR and Indonesia lagged somewhat behind, together comprising a further 45%.

Among the main importing countries, the Philippines, with a CAGR of +24.6%, recorded 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 import price in Asia stood at $X per ton in 2021, surging by 20% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.7%. Over the period under review, import prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was the Philippines ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+20.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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