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

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

After two years of growth, the ASEAN metal hot-worked helical spring market decreased by X% to $X in 2023. Overall, consumption recorded a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2023, consumption failed to regain momentum.

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

In value terms, metal hot-worked helical spring production dropped slightly to $X in 2023 estimated in export price. Overall, production showed a perceptible descent. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2023, production stood at a somewhat lower figure.

Exports of Iron or Steel Hot-Worked Helical Springs

Exports in ASEAN

In 2023, approx. X tons of iron or steel hot-worked helical springs were exported in ASEAN; picking up by X% on 2022. Total exports indicated measured growth from 2012 to 2023: its volume 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, exports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2013 when exports increased by X%. Over the period under review, the exports attained the peak figure at X tons in 2014; however, from 2015 to 2023, the exports remained at a lower figure.

In value terms, metal hot-worked helical spring exports shrank modestly to $X in 2023. Total exports indicated a noticeable increase from 2012 to 2023: its value 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. The growth pace was the most rapid in 2013 when exports increased by X%. The level of export peaked at $X in 2022, and then shrank modestly in the following year.

Exports by Country

In 2023, Thailand (X tons), Malaysia (X tons) and Indonesia (X tons) represented the key exporter of iron or steel hot-worked helical springs in ASEAN, committing X% of total export. Singapore (X tons) took the next position in the ranking, distantly followed by Vietnam (X tons). All these countries together held approx. X% share of total exports.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Vietnam (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), Singapore ($X) and Indonesia ($X) constituted the countries with the highest levels of exports in 2023, together accounting for X% of total exports. Malaysia and Vietnam lagged somewhat behind, together accounting for a further X%.

Vietnam, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the export price in ASEAN amounted to $X per ton, declining by X% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2015 an increase of X% against the previous year. The level of export peaked at $X per ton in 2022, and then declined in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

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

Imports of Iron or Steel Hot-Worked Helical Springs

Imports in ASEAN

In 2023, approx. X tons of iron or steel hot-worked helical springs were imported in ASEAN; falling by X% on the previous year's figure. Total imports indicated measured growth from 2012 to 2023: its volume 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 2023 figures, imports decreased by X% against 2021 indices. The growth pace was the most rapid in 2021 with an increase of X%. As a result, imports reached the peak of X tons. From 2022 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, metal hot-worked helical spring imports reduced to $X in 2023. Total imports indicated notable growth from 2012 to 2023: its value 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, imports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2022, and then fell in the following year.

Imports by Country

In 2023, Malaysia (X tons), Indonesia (X tons), Vietnam (X tons) and Thailand (X tons) was the major importer of iron or steel hot-worked helical springs in ASEAN, creating X% of total import. It was distantly followed by Singapore (X tons), generating an X% share of total imports. The Philippines (X tons) took a relatively small share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Vietnam (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest metal hot-worked helical spring importing markets in ASEAN were Vietnam ($X), Indonesia ($X) and Thailand ($X), together comprising X% of total imports.

In terms of the main importing countries, Vietnam, with a CAGR of X%, 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

In 2023, the import price in ASEAN amounted to $X per ton, dropping by X% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 when the import price increased by X% against the previous year. As a result, import price reached the peak level of $X per ton, and then declined in the following year.

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

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

Source: IndexBox Platform