Republic of Korea: Market for Iron Or Steel Leaf-Springs And Leaves 2022

Market Size for Iron Or Steel Leaf-Springs And Leaves in Republic of Korea

In 2020, the South Korean market for iron or steel leaf-springs and leaves decreased by -X% to $X, falling for the second year in a row after three years of growth. The market value increased at an average annual rate of +X% from 2007 to 2020; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2010 when the market value increased by X% against the previous year. Consumption peaked at $X in 2018; however, from 2019 to 2020, consumption failed to regain the momentum.

Production of Iron Or Steel Leaf-Springs And Leaves in Republic of Korea

In value terms, production of iron or steel leaf-springs and leaves declined to $X in 2020 estimated in export prices. Overall, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2010 with an increase of X% year-to-year. Production peaked at $X in 2011; however, from 2012 to 2020, production remained at a lower figure.

Exports of Iron Or Steel Leaf-Springs And Leaves

Exports from Republic of Korea

In 2020, approx. X tons of iron or steel leaf-springs and leaves were exported from South Korea; with a decrease of -X% on 2019 figures. Overall, exports, however, showed buoyant growth. The most prominent rate of growth was recorded in 2008 when exports increased by X% year-to-year. Exports peaked at X tons in 2012; however, from 2013 to 2020, exports remained at a lower figure.

In value terms, exports of iron or steel leaf-springs and leaves shrank to $X in 2020. Over the period under review, exports, however, posted a prominent expansion. The pace of growth was the most pronounced in 2008 with an increase of X% against the previous year. Over the period under review, exports attained the peak figure at $X in 2011; however, from 2012 to 2020, exports failed to regain the momentum.

Exports by Country

Japan (X tons) was the main destination for exports of iron or steel leaf-springs and leaves from South Korea, with a X% share of total exports. Moreover, exports of iron or steel leaf-springs and leaves to Japan exceeded the volume sent to the second major destination, Vietnam (X tons), threefold. China (X tons) ranked third in terms of total exports with a X% share.

From 2007 to 2020, the average annual growth rate of volume to Japan stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+X% per year) and China (+X% per year).

In value terms, the largest markets for iron or steel leaf-spring and leave exported from South Korea were Japan ($X), Vietnam ($X) and China ($X), with a combined X% share of total exports. These countries were followed by Lao People's Democratic Republic, Taiwan (Chinese) and Pakistan, which together accounted for a further X the main countries of destination, Pakistan (+X% per year) recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2020, the average export price for iron or steel leaf-springs and leaves amounted to $X per ton, which is down by -X% against the previous year. In general, export price indicated a tangible increase from 2007 to 2020: its price increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, export price for iron or steel leaf-springs and leaves decreased by -X% against 2018 indices. The most prominent rate of growth was recorded in 2010 when the average export price increased by X% year-to-year. Over the period under review, average export prices hit record highs at $X per ton in 2018; however, from 2019 to 2020, export prices remained at a lower figure.

Prices varied noticeably by the country of destination; the country with the highest price was China ($X per ton), while the average price for exports to Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Pakistan, while the prices for the other major destinations experienced a decline.

Imports of Iron Or Steel Leaf-Springs And Leaves

Imports into Republic of Korea

After two years of growth, supplies from abroad of iron or steel leaf-springs and leaves decreased by -X% to X tons in 2020. Over the period under review, imports, however, enjoyed resilient growth. The pace of growth appeared the most rapid in 2012 with an increase of X% y-o-y. Imports peaked at X tons in 2019, and then dropped slightly in the following year.

In value terms, imports of iron or steel leaf-springs and leaves rose remarkably to $X in 2020. Overall, imports, however, showed a strong expansion. The pace of growth was the most pronounced in 2010 when imports increased by X% year-to-year. Over the period under review, imports hit record highs in 2020 and are expected to retain growth in the near future.

Imports by Country

Indonesia (X tons), China (X tons) and Malaysia (X tons) were the main suppliers of imports of iron or steel leaf-springs and leaves to South Korea, together accounting for X% of total imports. Germany, Turkey, Belgium and Vietnam lagged somewhat behind, together comprising a further X 2007 to 2020, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Vietnam (+X% per year), while imports for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), China ($X) and Germany ($X) constituted the largest iron or steel leaf-spring and leave suppliers to South Korea, with a combined X% share of total imports. Malaysia, Belgium, Turkey and Vietnam lagged somewhat behind, together comprising a further X terms of the main suppliers, Vietnam recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for iron or steel leaf-springs and leaves stood at $X per ton in 2020, rising by X% against the previous year. Overall, the import price, however, saw a mild shrinkage. The most prominent rate of growth was recorded in 2010 an increase of X% y-o-y. As a result, import price attained the peak level of $X per ton. from 2011 to 2020, the growth in terms of the average import prices failed to regain the momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2020, the country with the highest price was Germany ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by China, while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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