Portugal: Steel Spring Market 2024

Steel Spring Market Size in Portugal

In 2022, the Portuguese steel spring market decreased by X% to $X, falling for the sixth year in a row after five years of growth. Overall, consumption continues to indicate a perceptible decrease. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market remained at a somewhat lower figure.

Steel Spring Production in Portugal

In value terms, steel spring production contracted notably to $X in 2022 estimated in export price. Over the period under review, production recorded a abrupt decline. The most prominent rate of growth was recorded in 2021 when the production volume increased by X%. Steel spring production peaked at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

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Steel Spring Exports

Exports from Portugal

In 2022, exports of steel springs and leaves for springs from Portugal contracted markedly to X tons, dropping by X% on the previous year's figure. Overall, exports showed a drastic downturn. The growth pace was the most rapid in 2021 with an increase of X%. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, steel spring exports reduced modestly to $X in 2022. In general, exports continue to indicate a abrupt decline. The most prominent rate of growth was recorded in 2021 with an increase of X%. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

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

From 2012 to 2022, the average annual growth rate of volume to Germany amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (X% per year) and Hungary (X% per year).

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

From 2012 to 2022, the average annual growth rate of value to Germany stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (X% per year) and Spain (X% per year).

Export Prices by Country

In 2022, the average steel spring export price amounted to $X per ton, picking up by X% against the previous year. Overall, export price indicated a moderate expansion 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 export price increased by X% against 2015 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Austria ($X per ton), while the average price for exports to Italy ($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 Austria (X%), while the prices for the other major destinations experienced more modest paces of growth.

Steel Spring Imports

Imports into Portugal

In 2022, the amount of steel springs and leaves for springs imported into Portugal dropped to X tons, waning by X% against 2021. Over the period under review, total imports indicated buoyant 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, imports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by X%. As a result, imports reached the peak of X tons, and then shrank in the following year.

In value terms, steel spring imports fell to $X in 2022. Overall, imports, however, saw a prominent increase. The growth pace was the most rapid in 2018 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2021, and then declined in the following year.

Imports by Country

Spain (X tons), Germany (X tons) and Turkey (X tons) were the main suppliers of steel spring imports to Portugal, together comprising X% of total imports. Japan, Brazil, Indonesia, the Czech Republic, France, Italy and Colombia lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Spain ($X), Germany ($X) and France ($X) appeared to be the largest steel spring suppliers to Portugal, with a combined X% share of total imports. Japan, the Czech Republic, Italy, Indonesia, Turkey, Brazil and Colombia lagged somewhat behind, together comprising a further X%.

Indonesia, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of 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, with a decrease of X% against the previous year. In general, the import price saw a slight slump. The pace of growth appeared the most rapid in 2018 an increase of X%. Over the period under review, average import prices hit record highs at $X per ton in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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