CIS: Steel Spring Market 2024

Steel Spring Market Size in CIS

The CIS steel spring market reduced to $X in 2022, waning by X% against the previous year. In general, consumption recorded a relatively flat trend pattern. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Steel Spring Production in CIS

In value terms, steel spring production shrank to $X in 2022 estimated in export price. Overall, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2022, production growth failed to regain momentum.

Steel Spring Exports

Exports in CIS

After seven years of growth, overseas shipments of steel springs and leaves for springs decreased by X% to X tons in 2022. Overall, exports showed a noticeable decline. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, steel spring exports reduced remarkably to $X in 2022. In general, exports showed a noticeable contraction. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Russia represented the key exporting country with an export of around X tons, which finished at X% of total exports. It was distantly followed by Belarus (X tons), mixing up a X% share of total exports.

Exports from Russia decreased at an average annual rate of X% from 2012 to 2022. At the same time, Belarus (X%) displayed positive paces of growth. Moreover, Belarus emerged as the fastest-growing exporter exported in the CIS, with a CAGR of X% from 2012-2022. While the share of Belarus (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Russia (X p.p.) displayed negative dynamics.

In value terms, Russia ($X) and Belarus ($X) appeared to be the countries with the highest levels of exports in 2022.

Among the main exporting countries, Belarus, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

In 2022, the export price in the CIS amounted to $X per ton, jumping by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Belarus ($X per ton), while Russia stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (X%).

Steel Spring Imports

Imports in CIS

In 2022, overseas purchases of steel springs and leaves for springs decreased by X% to X tons, falling for the third year in a row after four years of growth. In general, imports, however, saw a modest increase. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, steel spring imports fell significantly to $X in 2022. Over the period under review, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when imports increased by X% against the previous year. The level of import peaked at $X in 2021, and then contracted remarkably in the following year.

Imports by Country

Russia was the main importing country with an import of about X tons, which reached X% of total imports. It was distantly followed by Belarus (X tons), Uzbekistan (X tons) and Kazakhstan (X tons), together making up a X% share of total imports. Moldova (X tons), Kyrgyzstan (X tons) and Azerbaijan (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to steel spring imports into Russia stood at X%. At the same time, Uzbekistan (X%), Moldova (X%), Kyrgyzstan (X%) and Belarus (X%) displayed positive paces of growth. Moreover, Uzbekistan emerged as the fastest-growing importer imported in the CIS, with a CAGR of X% from 2012-2022. Kazakhstan experienced a relatively flat trend pattern. By contrast, Azerbaijan (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Uzbekistan and Belarus increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) constitutes the largest market for imported steel springs and leaves for springs in the CIS, comprising X% of total imports. The second position in the ranking was taken by Belarus ($X), with a X% share of total imports. It was followed by Kazakhstan, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Russia amounted to X%. In the other countries, the average annual rates were as follows: Belarus (X% per year) and Kazakhstan (X% per year).

Import Prices by Country

In 2022, the import price in the CIS amounted to $X per ton, shrinking by X% against the previous year. In general, the import price saw a mild contraction. The pace of growth appeared the most rapid in 2016 an increase of X% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2021, and then contracted in the following year.

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

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

Source: IndexBox Platform

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