Africa: Market for Iron or Steel Hot-Worked Helical Springs 2024

Market Size for Iron or Steel Hot-Worked Helical Springs in Africa

The African metal hot-worked helical spring market dropped to $X in 2023, almost unchanged from the previous year. Overall, consumption, however, showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2020 to 2023, the growth of the market failed to regain momentum.

Production of Iron or Steel Hot-Worked Helical Springs in Africa

In value terms, metal hot-worked helical spring production fell modestly to $X in 2023 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2023, production growth remained at a lower figure.

Exports of Iron or Steel Hot-Worked Helical Springs

Exports in Africa

In 2023, overseas shipments of iron or steel hot-worked helical springs decreased by X% to X tons for the first time since 2018, thus ending a four-year rising trend. Over the period under review, exports, however, continue to indicate buoyant growth. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. The volume of export peaked at X tons in 2022, and then shrank in the following year.

In value terms, metal hot-worked helical spring exports expanded remarkably to $X in 2023. In general, exports, however, showed strong growth. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. The level of export peaked in 2023 and is likely to see steady growth in years to come.

Exports by Country

South Africa prevails in exports structure, reaching X tons, which was approx. X% of total exports in 2023. It was distantly followed by Egypt (X tons), committing a X% share of total exports. Tunisia (X tons) held a minor share of total exports.

Exports from South Africa increased at an average annual rate of X% from 2012 to 2023. At the same time, Egypt (X%) and Tunisia (X%) displayed positive paces of growth. Moreover, Egypt emerged as the fastest-growing exporter exported in Africa, with a CAGR of X% from 2012-2023. From 2012 to 2023, the share of Egypt increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) remains the largest metal hot-worked helical spring supplier in Africa, comprising X% of total exports. The second position in the ranking was taken by Egypt ($X), with a X% share of total exports.

In South Africa, metal hot-worked helical spring exports increased at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Egypt (X% per year) and Tunisia (X% per year).

Export Prices by Country

The export price in Africa stood at $X per ton in 2023, picking up by X% against the previous year. Export price indicated modest growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, metal hot-worked helical spring export price increased by X% against 2020 indices. The growth pace was the most rapid in 2018 an increase of X% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2023, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Egypt ($X per ton), while South Africa ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Egypt (X%), while the other leaders experienced mixed trends in the export price figures.

Imports of Iron or Steel Hot-Worked Helical Springs

Imports in Africa

After two years of growth, purchases abroad of iron or steel hot-worked helical springs decreased by X% to X tons in 2023. Over the period under review, imports, however, continue to indicate a buoyant increase. The pace of growth was the most pronounced in 2013 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2022, and then declined in the following year.

In value terms, metal hot-worked helical spring imports dropped slightly to $X in 2023. The total import value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2018 when imports increased by X%. Over the period under review, imports attained the peak figure at $X in 2022, and then fell modestly in the following year.

Imports by Country

Mozambique (X tons) and South Africa (X tons) represented roughly X% of total imports in 2023. It was distantly followed by Angola (X tons), Kenya (X tons) and Nigeria (X tons), together achieving a X% share of total imports. Tunisia (X tons), Egypt (X tons), Morocco (X tons), Algeria (X tons), Tanzania (X tons), Libya (X tons), Ghana (X tons) and Cote d'Ivoire (X tons) held a little share of total imports.

From 2012 to 2023, the biggest increases were recorded for Mozambique (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, South Africa ($X), Tunisia ($X) and Egypt ($X) constituted the countries with the highest levels of imports in 2023, together accounting for X% of total imports. Morocco, Nigeria, Kenya, Angola, Algeria, Mozambique, Cote d'Ivoire, Tanzania, Libya and Ghana lagged somewhat behind, together comprising a further X%.

Mozambique, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the import price in Africa amounted to $X per ton, increasing by X% against the previous year. Overall, the import price, however, continues to indicate a noticeable curtailment. The most prominent rate of growth was recorded in 2020 an increase of X% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2023, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Tunisia ($X per ton), while Mozambique ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Libya (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform