Australia: Steel Spring Market 2024

Steel Spring Market Size in Australia

The Australian steel spring market soared to $X in 2022, picking up by X% 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). In general, the total consumption indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2015 indices. Steel spring consumption peaked in 2022 and is likely to see steady growth in the near future.

Steel Spring Exports

Exports from Australia

In 2022, steel spring exports from Australia contracted significantly to X tons, reducing by X% on 2021 figures. Over the period under review, exports recorded a slight descent. The most prominent rate of growth was recorded in 2021 when exports increased by X%. As a result, the exports attained the peak of X tons, and then dropped markedly in the following year.

In value terms, steel spring exports reduced to $X in 2022. Overall, exports, however, posted resilient growth. The growth pace was the most rapid in 2021 when exports increased by X%. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for steel spring exports from Australia, with a X% share of total exports. Moreover, steel spring exports to the United States exceeded the volume sent to the second major destination, New Zealand (X tons), fourfold. The UK (X tons) ranked third in terms of total exports with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: New Zealand (X% per year) and the UK (X% per year).

In value terms, the United States ($X) remains the key foreign market for steel springs and leaves for springs exports from Australia, comprising X% of total exports. The second position in the ranking was held by New Zealand ($X), with a X% share of total exports. It was followed by the UK, with an X% share.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: New Zealand (X% per year) and the UK (X% per year).

Export Prices by Country

In 2022, the average steel spring export price amounted to $X per ton, with an increase of X% against the previous year. Overall, the export price posted a prominent increase. The pace of growth appeared the most rapid in 2017 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Spain (X%), while the prices for the other major destinations experienced more modest paces of growth.

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Steel Spring Imports

Imports into Australia

Steel spring imports into Australia was estimated at X tons in 2022, surging by X% against the year before. The total import volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of X%. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, steel spring imports expanded rapidly to $X in 2022. In general, total imports indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

China (X tons), Indonesia (X tons) and Malaysia (X tons) were the main suppliers of steel spring imports to Australia, together comprising X% of total imports.

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

In value terms, the largest steel spring suppliers to Australia were China ($X), the United States ($X) and Indonesia ($X), with a combined X% share of total imports.

Indonesia, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average steel spring import price amounted to $X per ton, picking up by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2017 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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