Uruguay: Steel Spring Market 2024

Steel Spring Market Size in Uruguay

The Uruguayan steel spring market surged to $X in 2022, growing by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption showed a measured expansion. Steel spring consumption peaked in 2022 and is likely to see steady growth in the immediate term.

Steel Spring Exports

Exports from Uruguay

Steel spring exports from Uruguay fell to X kg in 2022, with a decrease of X% against 2021 figures. Over the period under review, exports showed a abrupt curtailment. The pace of growth was the most pronounced in 2019 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, steel spring exports expanded to $X in 2022. In general, exports showed a abrupt setback. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Argentina (X kg), the United States (X kg) and Brazil (X kg) were the main destinations of steel spring exports from Uruguay, with a combined X% share of total exports. Paraguay, Peru, Colombia and Chile lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Peru (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Paraguay ($X), Brazil ($X) and Argentina ($X) were the largest markets for steel spring exported from Uruguay worldwide, together accounting for X% of total exports.

Among the main countries of destination, Paraguay, with a CAGR of X%, 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

The average steel spring export price stood at $X per ton in 2022, rising by X% against the previous year. In general, the export price continues to indicate a prominent increase. The pace of growth appeared the most rapid in 2013 an increase of X% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is likely to see gradual growth in the near future.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Chile ($X per ton), while the average price for exports to Argentina ($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 Chile (X%), while the prices for the other major destinations experienced more modest paces of growth.

Steel Spring Imports

Imports into Uruguay

In 2022, the amount of steel springs and leaves for springs imported into Uruguay soared to X tons, with an increase of X% on the previous year's figure. Overall, imports recorded a slight increase. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, steel spring imports skyrocketed to $X in 2022. In general, imports saw tangible growth. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, Brazil (X tons) constituted the largest steel spring supplier to Uruguay, accounting for a X% share of total imports. Moreover, steel spring imports from Brazil exceeded the figures recorded by the second-largest supplier, China (X tons), ninefold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Brazil stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Argentina (X% per year).

In value terms, Brazil ($X) constituted the largest supplier of steel springs and leaves for springs to Uruguay, comprising X% of total imports. The second position in the ranking was held by China ($X), with an X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Brazil stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Argentina (X% per year).

Import Prices by Country

The average steel spring import price stood at $X per ton in 2022, rising by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2018 when the average import price increased by X% against the previous year. Over the period under review, average import prices reached the maximum in 2022 and is likely to see gradual growth in years to come.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while the price for Brazil ($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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