Croatia: Steel Spring Market 2024

Steel Spring Market Size in Croatia

In 2023, the Croatian steel spring market increased by X% to $X, rising for the second year in a row after three years of decline. Over the period under review, consumption continues to indicate a perceptible increase. Steel spring consumption peaked in 2023 and is likely to see gradual growth in the near future.

Steel Spring Production in Croatia

In value terms, steel spring production contracted slightly to $X in 2023 estimated in export price. In general, the total production indicated a strong expansion 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, production increased by X% against 2016 indices. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, production reached the maximum level at $X in 2022, and then shrank modestly in the following year.

Steel Spring Exports

Exports from Croatia

In 2023, shipments abroad of steel springs and leaves for springs decreased by X% to X tons, falling for the second year in a row after six years of growth. Overall, total exports indicated a strong expansion 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, exports decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2013 when exports increased by X%. The exports peaked at X tons in 2021; however, from 2022 to 2023, the exports remained at a lower figure.

In value terms, steel spring exports expanded notably to $X in 2023. Over the period under review, exports, however, saw a resilient expansion. The pace of growth appeared the most rapid in 2013 with an increase of X%. The exports peaked in 2023 and are likely to see gradual growth in the immediate term.

Exports by Country

Germany (X tons), Slovenia (X tons) and Italy (X tons) were the main destinations of steel spring exports from Croatia, with a combined X% share of total exports. Austria, Bosnia and Herzegovina, the United States, India, Romania, Serbia and Poland lagged somewhat behind, together accounting for a further X%.

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

In value terms, Germany ($X), Slovenia ($X) and the United States ($X) constituted the largest markets for steel spring exported from Croatia worldwide, with a combined X% share of total exports. Austria, Italy, Bosnia and Herzegovina, Romania, Serbia, India and Poland lagged somewhat behind, together accounting for a further X%.

In terms of the main countries of destination, India, 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 2023, surging by X% against the previous year. Over the period under review, export price indicated notable growth from 2012 to 2023: its price 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, steel spring export price increased by X% against 2017 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2023, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to India ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Serbia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Steel Spring Imports

Imports into Croatia

For the third consecutive year, Croatia recorded growth in purchases abroad of steel springs and leaves for springs, which increased by X% to X tons in 2023. Over the period under review, imports enjoyed a resilient expansion. The growth pace was the most rapid in 2014 when imports increased by X% against the previous year. Imports peaked in 2023 and are expected to retain growth in the immediate term.

In value terms, steel spring imports soared to $X in 2023. In general, imports posted a prominent expansion. The most prominent rate of growth was recorded in 2014 when imports increased by X%. Over the period under review, imports reached the maximum in 2023 and are expected to retain growth in years to come.

Imports by Country

In 2023, the Czech Republic (X tons) constituted the largest steel spring supplier to Croatia, with a X% share of total imports. Moreover, steel spring imports from the Czech Republic exceeded the figures recorded by the second-largest supplier, Poland (X tons), twofold. Germany (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume from the Czech Republic stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (X% per year) and Germany (X% per year).

In value terms, Germany ($X), the Czech Republic ($X) and Poland ($X) appeared to be the largest steel spring suppliers to Croatia, with a combined X% share of total imports.

Among the main suppliers, the Czech Republic, 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 average steel spring import price amounted to $X per ton, with an increase of X% against the previous year. Overall, import price indicated a mild expansion from 2012 to 2023: its price 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, steel spring import price increased by X% against 2016 indices. The pace of growth was the most pronounced in 2021 when the average import price increased by X%. The import price peaked in 2023 and is expected to retain growth in the near future.

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

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

Source: IndexBox Platform