Report Update: May 1, 2024

Dominican Republic - Steel Springs And Leaves For Springs - Market Analysis, Forecast, Size, Trends and Insights

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Steel Spring Price in the Dominican Republic - 2023

Steel Spring Price in the Dominican Republic (CIF) - 2022

The average steel spring import price stood at $4,578 per ton in 2022, waning by -11.2% against the previous year. Overall, the import price saw a abrupt contraction. The pace of growth appeared the most rapid in 2021 when the average import price increased by 22% against the previous year. The import price peaked at $10,823 per ton in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($6,226 per ton), while the price for Colombia ($1,413 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (-4.7%), while the prices for the other major suppliers experienced a decline.

Steel Spring Price in the Dominican Republic (FOB) - 2022

In 2022, the average steel spring export price amounted to $1,135 per ton, rising by 43% against the previous year. Overall, the export price, however, saw a abrupt contraction. The most prominent rate of growth was recorded in 2014 an increase of 73%. As a result, the export price attained the peak level of $2,276 per ton. From 2015 to 2022, the average export prices remained at a somewhat lower figure.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Jamaica ($1,397 per ton), while the average price for exports to the United States stood at $1,056 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Jamaica (+1.4%).

Steel Spring Imports in the Dominican Republic

After three years of growth, purchases abroad of steel springs and leaves for springs decreased by -18.6% to 2K tons in 2022. Overall, total imports indicated a strong increase from 2019 to 2022: its volume increased at an average annual rate of +10.1% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +33.4% against 2019 indices. The growth pace was the most rapid in 2020 when imports increased by 30%.

In value terms, steel spring imports reduced notably to $9.4M in 2022. In general, total imports indicated slight growth from 2019 to 2022: its value increased at an average annual rate of +1.5% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +11.1% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 54% against the previous year. As a result, imports attained the peak of $13M, and then shrank rapidly in the following year.

Import of Steel Spring in the Dominican Republic (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United States	4.2	4.6	9.0	5.3	8.1%
China	1.5	1.6	1.5	2.1	11.9%
El Salvador	N/A	N/A	0.7	0.5	-28.6%
United Kingdom	1.1	1.1	0.2	0.2	-43.3%
Colombia	0.3	0.1	0.2	0.1	-30.7%
Others	1.9	1.0	1.3	1.0	-19.3%
Total	9.0	8.4	13.0	9.4	1.5%

Top Suppliers of Steel Spring to the Dominican Republic in 2022:

United States (849.7 tons)
China (685.3 tons)
El Salvador (300.4 tons)
Colombia (104.7 tons)
United Kingdom (25.3 tons)

Steel Spring Exports in the Dominican Republic

In 2022, after three years of growth, there was significant decline in shipments abroad of steel springs and leaves for springs, when their volume decreased by -72.6% to 373 tons. In general, exports faced a abrupt curtailment. The pace of growth was the most pronounced in 2020 with an increase of 53%.

In value terms, steel spring exports reduced rapidly to $424K in 2022. Overall, exports saw a deep slump. The pace of growth appeared the most rapid in 2021 with an increase of 78% against the previous year. As a result, the exports attained the peak of $1.1M, and then declined rapidly in the following year.

Export of Steel Spring in the Dominican Republic (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United States	460	550	1,032	376	-6.5%
Jamaica	25.1	23.7	23.8	11.7	-22.5%
Others	49.6	33.8	28.0	35.6	-10.5%
Total	535	607	1,084	424	-7.5%

Top Export Markets for Steel Spring from the Dominican Republic in 2022:

United States (356.4 tons)
Jamaica (8.4 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the steel spring market in the Dominican Republic. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 25931613 - Iron or steel hot-worked laminated leaf-springs and leaves therefor
Prodcom 25931615 - Iron or steel hot-worked non-laminated leaf-springs and leaves therefor
Prodcom 25931617 - Iron or steel cold-formed leaf-springs and leaves therefor
Prodcom 25931631 - Iron or steel hot-worked helical springs
Prodcom 25931633 - Iron or steel cold-formed helical coil compression springs
Prodcom 25931635 - Iron or steel cold-formed helical coil tension springs
Prodcom 25931637 - Iron or steel cold-formed helical springs (excluding helical coil compression springs, helical coil tension springs)
Prodcom 25931653 - Iron or steel flat spiral springs
Prodcom 25931655 - Iron or steel discs springs
Prodcom 25931660 - Iron or steel springs (excluding leaf-springs and leaves therefor, helical springs, flat spiral springs, discs springs)

Country coverage:

Dominican Republic

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in the Dominican Republic
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023