Asia-Pacific: Market for Iron or Steel Flat Spiral or Discs Springs 2024

Market Size for Iron or Steel Flat Spiral or Discs Springs in Asia-Pacific

The Asia-Pacific market for iron or steel flat spiral or discs springs declined modestly to $X in 2023, which is down by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained consistent, with only minor fluctuations in certain years. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2023, consumption remained at a lower figure.

Production of Iron or Steel Flat Spiral or Discs Springs in Asia-Pacific

In value terms, metal spiral or discs spring production shrank to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2016 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2017 to 2023, production growth failed to regain momentum.

Exports of Iron or Steel Flat Spiral or Discs Springs

Exports in Asia-Pacific

Metal spiral or discs spring exports expanded rapidly to X tons in 2023, with an increase of X% against 2022. The total export volume increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when exports increased by X%. The volume of export peaked in 2023 and is likely to see steady growth in the near future.

In value terms, metal spiral or discs spring exports fell to $X in 2023. The total export value increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. The level of export peaked at $X in 2022, and then reduced in the following year.

Exports by Country

China was the key exporter of iron or steel flat spiral or discs springs in Asia-Pacific, with the volume of exports recording X tons, which was approx. X% of total exports in 2023. Malaysia (X tons) took the second position in the ranking, followed by Thailand (X tons), Taiwan (Chinese) (X tons) and South Korea (X tons). All these countries together took approx. X% share of total exports. The following exporters - India (X tons) and Indonesia (X tons) - together made up X% of total exports.

China was also the fastest-growing in terms of the iron or steel flat spiral or discs springs exports, with a CAGR of X% from 2012 to 2023. At the same time, Indonesia (X%), South Korea (X%), Malaysia (X%) and Taiwan (Chinese) (X%) displayed positive paces of growth. Thailand experienced a relatively flat trend pattern. By contrast, India (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of China increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest metal spiral or discs spring supplier in Asia-Pacific, comprising X% of total exports. The second position in the ranking was held by Thailand ($X), with a X% share of total exports. It was followed by Taiwan (Chinese), with a X% share.

In China, metal spiral or discs spring exports expanded at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Thailand (X% per year) and Taiwan (Chinese) (X% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2023, shrinking by X% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the export price increased by X% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2018; however, from 2019 to 2023, the export prices remained at a lower figure.

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 Taiwan (Chinese) ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

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

Imports of Iron or Steel Flat Spiral or Discs Springs

Imports in Asia-Pacific

In 2023, the amount of iron or steel flat spiral or discs springs imported in Asia-Pacific reached X tons, picking up by X% compared with the year before. In general, imports, however, saw a slight slump. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2023, imports failed to regain momentum.

In value terms, metal spiral or discs spring imports reduced slightly to $X in 2023. Overall, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2022, and then fell modestly in the following year.

Imports by Country

In 2023, Malaysia (X tons) represented the major importer of iron or steel flat spiral or discs springs, constituting X% of total imports. Thailand (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by India (X%), Vietnam (X%), South Korea (X%), China (X%) and Indonesia (X%).

From 2012 to 2023, average annual rates of growth with regard to metal spiral or discs spring imports into Malaysia stood at X%. At the same time, Vietnam (X%) and South Korea (X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of X% from 2012-2023. China experienced a relatively flat trend pattern. By contrast, Thailand (X%), India (X%) and Indonesia (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Malaysia, Vietnam and South Korea increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X), Thailand ($X) and China ($X) constituted the countries with the highest levels of imports in 2023, with a combined X% share of total imports. Malaysia, Vietnam, Indonesia and South Korea lagged somewhat behind, together comprising a further X%.

Among 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 Asia-Pacific amounted to $X per ton, reducing by X% against the previous year. Over the last eleven-year period, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 when the import price increased by X%. The level of import peaked at $X per ton in 2018; however, from 2019 to 2023, import prices failed to regain momentum.

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

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

Source: IndexBox Platform