EU: Steel Spring Market 2022

Steel Spring Market Size in the EU

In 2021, the EU steel spring market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Steel Spring Production in the EU

In value terms, steel spring production rose markedly to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 12%. The level of production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Steel Spring Exports

Exports in the EU

In 2021, shipments abroad of steel springs and leaves for springs was finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. The total export volume increased at an average annual rate of +2.2% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, steel spring exports surged to $X in 2021. The total export value increased at an average annual rate of +2.6% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Germany represented the major exporting country with an export of about X tons, which resulted at 36% of total exports. Poland (X tons) ranks second in terms of the total exports with a 12% share, followed by the Czech Republic (9%), Spain (8.6%), the Netherlands (5.3%) and Italy (4.8%). France (X tons), Belgium (X tons), Hungary (X tons), Sweden (X tons), Austria (X tons) and Romania (X tons) took a minor share of total exports.

From 2012 to 2021, average annual rates of growth with regard to steel spring exports from Germany stood at +2.0%. At the same time, Hungary (+13.3%), Poland (+11.5%), Sweden (+5.6%), the Netherlands (+5.3%), the Czech Republic (+3.0%), Romania (+2.7%) and Belgium (+1.5%) displayed positive paces of growth. Moreover, Hungary emerged as the fastest-growing exporter exported in the European Union, with a CAGR of +13.3% from 2012-2021. Spain and Austria experienced a relatively flat trend pattern. By contrast, Italy (-1.5%) and France (-5.5%) illustrated a downward trend over the same period. While the share of Poland (+6.2 p.p.) and Hungary (+2 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Italy (-1.9 p.p.) and France (-4.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($X) remains the largest steel spring supplier in the European Union, comprising 45% of total exports. The second position in the ranking was held by Poland ($X), with a 7.5% share of total exports. It was followed by the Czech Republic, with a 7.2% share.

In Germany, steel spring exports increased at an average annual rate of +2.0% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Poland (+14.0% per year) and the Czech Republic (+4.1% per year).

Export Prices by Country

The export price in the European Union stood at $X per ton in 2021, with an increase of 5.4% against the previous year. In general, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the export price increased by 11%. Over the period under review, the export prices reached the peak figure at $X per ton in 2014; afterwards, it flattened through to 2021.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Germany ($X per ton), while Spain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Romania (+4.3%), while the other leaders experienced more modest paces of growth.

Steel Spring Imports

Imports in the EU

After two years of decline, overseas purchases of steel springs and leaves for springs increased by 17% to X tons in 2021. The total import volume increased at an average annual rate of +1.5% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The volume of import peaked at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, steel spring imports surged to $X in 2021. The total import value increased at an average annual rate of +2.5% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Germany (X tons), distantly followed by Poland (X tons), the Netherlands (X tons), Italy (X tons), France (X tons), the Czech Republic (X tons), Belgium (X tons) and Hungary (X tons) represented the major importers of steel springs and leaves for springs, together achieving 72% of total imports. The following importers - Romania (X tons), Spain (X tons), Austria (X tons), Slovakia (X tons) and Sweden (X tons) - together made up 20% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Poland (with a CAGR of +7.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constitutes the largest market for imported steel springs and leaves for springs in the European Union, comprising 23% of total imports. The second position in the ranking was held by Poland ($X), with a 10% share of total imports. It was followed by the Czech Republic, with an 8.3% share.

From 2012 to 2021, the average annual growth rate of value in Germany amounted to +2.0%. The remaining importing countries recorded the following average annual rates of imports growth: Poland (+7.4% per year) and the Czech Republic (+2.1% per year).

Import Prices by Country

In 2021, the import price in the European Union amounted to $X per ton, with an increase of 7.4% against the previous year. Overall, the import price saw a slight expansion. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Slovakia (+7.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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