Vietnam: Market for Iron or Steel Leaf-Springs and Leaves 2024

Market Size for Iron or Steel Leaf-Springs and Leaves in Vietnam

In 2022, the Vietnamese iron or steel leaf-spring market increased by X% to $X, rising for the second consecutive year after two years of decline. Overall, consumption, however, continues to indicate a perceptible reduction. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Production of Iron or Steel Leaf-Springs and Leaves in Vietnam

In value terms, iron or steel leaf-spring production declined modestly to $X in 2022 estimated in export price. Overall, production continues to indicate a noticeable decrease. The most prominent rate of growth was recorded in 2018 when the production volume increased by X%. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Iron or Steel Leaf-Springs and Leaves

Exports from Vietnam

After six years of growth, overseas shipments of iron or steel leaf-springs and leaves decreased by X% to X tons in 2022. Overall, exports, however, enjoyed buoyant growth. The most prominent rate of growth was recorded in 2019 when exports increased by X%. Over the period under review, the exports reached the peak figure at X tons in 2021, and then contracted in the following year.

In value terms, iron or steel leaf-spring exports fell to $X in 2022. In general, exports, however, continue to indicate buoyant growth. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. The exports peaked at $X in 2021, and then contracted in the following year.

Exports by Country

Australia (X tons), Myanmar (X tons) and South Korea (X tons) were the main destinations of iron or steel leaf-spring exports from Vietnam, with a combined X% share of total exports. Cambodia, Thailand, Malaysia, Russia, France, the Philippines, Lao People's Democratic Republic and Germany lagged somewhat behind, together comprising a further X%.

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

In value terms, Australia ($X) remains the key foreign market for iron or steel leaf-springs and leaves exports from Vietnam, comprising X% of total exports. The second position in the ranking was taken by South Korea ($X), with a X% share of total exports. It was followed by Cambodia, with a X% share.

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

Export Prices by Country

In 2022, the average iron or steel leaf-spring export price amounted to $X per ton, picking up by X% against the previous year. Over the period under review, the export price, however, continues to indicate a mild contraction. The pace of growth appeared the most rapid in 2014 when the average export price increased by X%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2018; however, from 2019 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 the Philippines ($X per ton), while the average price for exports to Myanmar ($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 the Philippines (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Iron or Steel Leaf-Springs and Leaves

Imports into Vietnam

In 2022, the amount of iron or steel leaf-springs and leaves imported into Vietnam rose slightly to X tons, with an increase of X% compared with 2021 figures. In general, imports posted a resilient expansion. The most prominent rate of growth was recorded in 2019 when imports increased by X% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, iron or steel leaf-spring imports amounted to $X in 2022. Over the period under review, imports posted resilient growth. The most prominent rate of growth was recorded in 2019 when imports increased by X% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, China (X tons) constituted the largest iron or steel leaf-spring supplier to Vietnam, accounting for a X% share of total imports. Moreover, iron or steel leaf-spring imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X tons), threefold. The third position in this ranking was held by Japan (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (X% per year) and Japan (X% per year).

In value terms, China ($X) constituted the largest supplier of iron or steel leaf-springs and leaves to Vietnam, comprising X% of total imports. The second position in the ranking was taken by Thailand ($X), with a X% share of total imports. It was followed by Japan, with a X% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (X% per year) and Japan (X% per year).

Import Prices by Country

In 2022, the average iron or steel leaf-spring import price amounted to $X per ton, approximately reflecting the previous year. In general, the import price saw a mild curtailment. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Japan ($X per ton) and Thailand ($X per ton), while the price for Taiwan (Chinese) ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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