Eastern Asia: Market for Iron or Steel Hot-Worked Helical Springs 2024

Market Size for Iron or Steel Hot-Worked Helical Springs in Eastern Asia

The East Asian metal hot-worked helical spring market reached $X in 2022, remaining constant against the previous year. In general, consumption, however, continues to indicate a noticeable reduction. The growth pace was the most rapid in 2016 when the market value increased by X% against the previous year. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Production of Iron or Steel Hot-Worked Helical Springs in Eastern Asia

In value terms, metal hot-worked helical spring production totaled $X in 2022 estimated in export price. Overall, production, however, recorded a perceptible curtailment. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Exports of Iron or Steel Hot-Worked Helical Springs

Exports in Eastern Asia

In 2022, shipments abroad of iron or steel hot-worked helical springs decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. Total exports indicated a moderate expansion from 2012 to 2022: its volume 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, exports increased by X% against 2016 indices. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. The volume of export peaked at X tons in 2021, and then fell in the following year.

In value terms, metal hot-worked helical spring exports reduced to $X in 2022. The total export value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. As a result, the exports reached the peak of $X, and then fell in the following year.

Exports by Country

China represented the largest exporter of iron or steel hot-worked helical springs in Eastern Asia, with the volume of exports resulting at X tons, which was approx. X% of total exports in 2022. Japan (X tons) took the second position in the ranking, distantly followed by South Korea (X tons). All these countries together held near X% share of total exports.

China was also the fastest-growing in terms of the iron or steel hot-worked helical springs exports, with a CAGR of X% from 2012 to 2022. At the same time, South Korea (X%) displayed positive paces of growth. By contrast, Japan (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Japan ($X) and South Korea ($X) were the countries with the highest levels of exports in 2022, together comprising X% of total exports.

China, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, dropping by X% against the previous year. Over the period under review, the export price continues to indicate a slight curtailment. The pace of growth appeared the most rapid in 2016 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2017 to 2022, the export prices remained at a 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 Japan ($X per ton), while China ($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 other leaders experienced mixed trends in the export price figures.

Imports of Iron or Steel Hot-Worked Helical Springs

Imports in Eastern Asia

In 2022, approx. X tons of iron or steel hot-worked helical springs were imported in Eastern Asia; dropping by X% on the previous year's figure. In general, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2014 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, metal hot-worked helical spring imports shrank notably to $X in 2022. Over the period under review, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by X%. As a result, imports reached the peak of $X, and then contracted significantly in the following year.

Imports by Country

In 2022, China (X tons) represented the largest importer of iron or steel hot-worked helical springs, making up X% of total imports. South Korea (X tons) ranks second in terms of the total imports with a X% share, followed by Japan (X%) and Taiwan (Chinese) (X%).

From 2012 to 2022, average annual rates of growth with regard to metal hot-worked helical spring imports into China stood at X%. At the same time, Taiwan (Chinese) (X%) and South Korea (X%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of X% from 2012-2022. Japan experienced a relatively flat trend pattern. While the share of Taiwan (Chinese) (X p.p.), South Korea (X p.p.) and Japan (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of China (X p.p.) displayed negative dynamics.

In value terms, China ($X) constitutes the largest market for imported iron or steel hot-worked helical springs in Eastern Asia, comprising X% of total imports. The second position in the ranking was held by Japan ($X), with a X% share of total imports. It was followed by South Korea, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China was relatively modest. In the other countries, the average annual rates were as follows: Japan (X% per year) and South Korea (X% per year).

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per ton, flattening at the previous year. In general, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of X% against the previous year. Over the period under review, import prices attained the maximum in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per ton), while South Korea ($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 other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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