Eastern Asia: Market for Iron or Steel Leaf-Springs and Leaves 2024

Market Size for Iron or Steel Leaf-Springs and Leaves in Eastern Asia

In 2022, the East Asian iron or steel leaf-spring market was finally on the rise to reach $X for the first time since 2018, thus ending a three-year declining trend. Over the period under review, consumption saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Production of Iron or Steel Leaf-Springs and Leaves in Eastern Asia

In value terms, iron or steel leaf-spring production fell slightly to $X in 2022 estimated in export price. Overall, production saw a mild decline. The pace of growth appeared the most rapid in 2018 with an increase of X%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Exports of Iron or Steel Leaf-Springs and Leaves

Exports in Eastern Asia

In 2022, after two years of growth, there was significant decline in overseas shipments of iron or steel leaf-springs and leaves, when their volume decreased by X% to X tons. Total exports indicated measured growth 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 2019 indices. 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 tons, and then fell in the following year.

In value terms, iron or steel leaf-spring exports reduced to $X in 2022. Total exports indicated perceptible growth 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, exports increased by X% against 2018 indices. The growth pace was the most rapid in 2021 when exports increased by X%. As a result, the exports reached the peak of $X, and then dropped modestly in the following year.

Exports by Country

China prevails in exports structure, reaching X tons, which was near X% of total exports in 2022. It was distantly followed by Japan (X tons), generating a X% share of total exports.

China was also the fastest-growing in terms of the iron or steel leaf-springs and leaves exports, with a CAGR of X% from 2012 to 2022. Japan (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China increased by X percentage points.

In value terms, China ($X) remains the largest iron or steel leaf-spring supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was taken by Japan ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value in China amounted to X%.

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, rising by X% against the previous year. In general, the export price, however, continues to indicate a mild descent. The level of export peaked at $X per ton in 2012; however, from 2013 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 stood at $X per ton.

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

Imports of Iron or Steel Leaf-Springs and Leaves

Imports in Eastern Asia

Iron or steel leaf-spring imports contracted to X tons in 2022, declining by X% on the previous year. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, iron or steel leaf-spring imports reduced to $X in 2022. Overall, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of $X, and then shrank in the following year.

Imports by Country

In 2022, Japan (X tons) was the major importer of iron or steel leaf-springs and leaves, generating X% of total imports. South Korea (X tons) ranks second in terms of the total imports with a X% share, followed by China (X%) and Taiwan (Chinese) (X%). Democratic People's Republic of Korea (X tons) followed a long way behind the leaders.

Imports into Japan decreased at an average annual rate of X% from 2012 to 2022. At the same time, South Korea (X%), Democratic People's Republic of Korea (X%), Taiwan (Chinese) (X%) and China (X%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of South Korea, Democratic People's Republic of Korea and Taiwan (Chinese) increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

In China, iron or steel leaf-spring imports remained relatively stable over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Japan (X% per year) and South Korea (X% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, declining by X% against the previous year. In general, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the import price increased by X%. The level of import peaked at $X per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while Democratic People's Republic of Korea ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :