Ireland: Steel Spring Market 2024

Steel Spring Market Size in Ireland

The Irish steel spring market declined to $X in 2022, with a decrease of X% against the previous year. In general, consumption, however, saw a strong expansion. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Steel Spring Production in Ireland

In value terms, steel spring production dropped modestly to $X in 2022 estimated in export price. Overall, production, however, saw a buoyant expansion. The pace of growth appeared the most rapid in 2018 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

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Steel Spring Exports

Exports from Ireland

In 2022, shipments abroad of steel springs and leaves for springs increased by X% to X tons, rising for the sixth year in a row after four years of decline. Overall, exports saw a significant increase. The most prominent rate of growth was recorded in 2019 when exports increased by X%. Over the period under review, the exports attained the maximum in 2022 and are likely to continue growth in the near future.

In value terms, steel spring exports soared to $X in 2022. In general, exports posted significant growth. The pace of growth was the most pronounced in 2019 with an increase of X%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for steel spring exports from Ireland, with a X% share of total exports. Moreover, steel spring exports to the United States exceeded the volume sent to the second major destination, the UK (X tons), fivefold. The third position in this ranking was taken by Germany (X tons), with a X% share.

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

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

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

Export Prices by Country

In 2022, the average steel spring export price amounted to $X per ton, growing by X% against the previous year. Over the period under review, the export price, however, recorded a abrupt decline. The pace of growth was the most pronounced in 2014 an increase of X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to the UK ($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 Germany (X%), while the prices for the other major destinations experienced a decline.

Steel Spring Imports

Imports into Ireland

In 2022, the amount of steel springs and leaves for springs imported into Ireland dropped sharply to X tons, with a decrease of X% compared with the year before. Overall, imports, however, posted a resilient increase. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, steel spring imports fell rapidly to $X in 2022. In general, imports, however, continue to indicate buoyant growth. The pace of growth was the most pronounced in 2015 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2021, and then dropped dramatically in the following year.

Imports by Country

Turkey (X tons), the UK (X tons) and the United States (X tons) were the main suppliers of steel spring imports to Ireland, with a combined X% share of total imports. China, Poland, Italy, Germany, Japan and France lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest steel spring suppliers to Ireland were the United States ($X), the UK ($X) and Turkey ($X), with a combined X% share of total imports. Germany, Japan, Poland, Italy, China and France lagged somewhat behind, together accounting for a further X%.

Poland, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average steel spring import price stood at $X per ton in 2022, surging by X% against the previous year. In general, import price indicated a mild increase from 2012 to 2022: its price 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, steel spring import price increased by X% against 2017 indices. The most prominent rate of growth was recorded in 2020 when the average import price increased by X% against the previous year. Over the period under review, average import prices attained the maximum in 2022 and is expected to retain growth in the immediate term.

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