Macedonia: Steel Spring Market 2020

Steel Spring Market Size in Macedonia

The revenue of the steel spring market in Macedonia amounted to $X in 2018, increasing by X% against the previous year. In general, steel spring consumption, however, continues to indicate a strong expansion. The most prominent rate of growth was recorded in 2010 when the market value increased by X% y-o-y. Over the period under review, the steel spring market attained its peak figure level in 2018 and is expected to retain its growth in the near future.

Steel Spring Production in Macedonia

In value terms, steel spring production amounted to $X in 2018 estimated in export prices. Over the period under review, steel spring production continues to indicate a slight reduction. The most prominent rate of growth was recorded in 2010 when production volume increased by X% against the previous year. Over the period under review, steel spring production attained its maximum level at $X in 2013; however, from 2014 to 2018, production remained at a lower figure.

Steel Spring Exports

Exports from Macedonia

In 2018, approx. X tons of steel springs and leaves for springs were exported from Macedonia; shrinking by -X% against the previous year. Over the period under review, steel spring exports continue to indicate a drastic shrinkage. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. Macedonia exports peaked at X tons in 2007; however, from 2008 to 2018, exports failed to regain their momentum.

In value terms, steel spring exports stood at $X in 2018. Over the period under review, steel spring exports continue to indicate an abrupt drop. The growth pace was the most rapid in 2016 when exports increased by X% year-to-year. Over the period under review, steel spring exports reached their maximum at $X in 2008; however, from 2009 to 2018, exports remained at a lower figure.

Exports by Country

Mexico (X tons), Germany (X tons), China (X tons) and the U.S. (X tons) represented roughly X% of total exports of steel springs and leaves for springs in 2018. Turkey (X tons), the Czech Republic (X tons), Canada (X tons), Spain (X tons), Italy (X tons), Poland (X tons), France (X tons) and Japan (X tons) followed a long way behind the leaders.

From 2007 to 2018, the most notable rate of growth in terms of exports, amongst the main exporting countries, was attained by China, while exports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) remains the largest steel spring supplier from Macedonia, comprising X% of global exports. The second position in the ranking was occupied by the U.S. ($X), with a X% share of global exports. It was followed by Mexico, with a X% share.

From 2007 to 2018, the average annual rate of growth in terms of value in Germany totaled +X%. The remaining exporting countries recorded the following average annual rates of exports growth: the U.S. (+X% per year) and Mexico (+X% per year).

Export Prices by Country

In 2018, the steel spring export price in Macedonia amounted to $X per ton, surging by X% against the previous year. Overall, the export price indicated resilient growth from 2007 to 2018: its price increased at an average annual rate of +X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, steel spring export price decreased by -X% against 2014 indices. The growth pace was the most rapid in 2013 an increase of X% year-to-year. Macedonia export price peaked at $X per ton in 2014; however, from 2015 to 2018, export prices remained at a lower figure.

Prices varied noticeably by the country of origin; the country with the highest price was Japan ($X per ton), while Turkey ($X per ton) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Mexico, while the other leaders experienced more modest paces of growth.

Steel Spring Imports

Imports into Macedonia

Steel spring imports into Macedonia stood at X tons in 2018, dropping by -X% against the previous year. Over the period under review, steel spring imports, however, continue to indicate temperate growth. The most prominent rate of growth was recorded in 2014 with an increase of X% year-to-year. Over the period under review, steel spring imports reached their peak figure at X tons in 2017, and then declined slightly in the following year.

In value terms, steel spring imports stood at $X in 2018. Overall, steel spring imports, however, continue to indicate a remarkable expansion. The most prominent rate of growth was recorded in 2012 with an increase of X% year-to-year. Macedonia imports peaked in 2018 and are likely to see steady growth in the near future.

Imports by Country

In 2018, the U.S. (X tons), distantly followed by Germany (X tons), Mexico (X tons), China (X tons) and the UK (X tons) represented the main importers of steel springs and leaves for springs, together mixing up X% of total imports. The following importers - Canada (X tons), Poland (X tons), France (X tons), the Czech Republic (X tons), Russia (X tons), the Netherlands (X tons) and Belgium (X tons) - together made up X% of total imports.

Imports into the U.S. decreased at an average annual rate of -X% from 2007 to 2018. At the same time, Russia (+X%), the Czech Republic (+X%), Poland (+X%), the UK (+X%), China (+X%) and the Netherlands (+X%) displayed positive paces of growth. Moreover, Russia emerged as the fastest-growing importer imported in the world, with a CAGR of +X% from 2007-2018. Mexico and Belgium experienced a relatively flat trend pattern. By contrast, Germany (-X%), France (-X%) and Canada (-X%) illustrated a downward trend over the same period. While the share of the UK (+X p.p.) and China (+X p.p.) increased significantly in terms of the global imports from 2007-2018, the share of Canada (-X p.p.) and the U.S. (-X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the U.S. ($X), China ($X) and Germany ($X) constituted the countries with the highest levels of imports in 2018, with a combined X% share of total imports.

In terms of the main importing countries, China recorded the highest rates of growth with regard to market size, over the period under review, while imports for the other leaders experienced more modest paces of growth.

Import Prices by Country

The steel spring import price in Macedonia stood at $X per ton in 2018, picking up by X% against the previous year. Over the last eleven-year period, it increased at an average annual rate of +X%. The growth pace was the most rapid in 2008 an increase of X% year-to-year. Over the period under review, the import prices for steel springs and leaves for springs attained their maximum at $X per ton in 2012; however, from 2013 to 2018, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2018, the country with the highest price was China ($X per ton), while the UK ($X per ton) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by China, while the other leaders experienced more modest paces of growth.

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Source: IndexBox Platform