Spring and lock washers market in Portugal

Earlier Report Observations

The Portuguese market for spring and lock washers experienced significant volatility between 2018 and 2024. After starting at 797 tons in 2018, market volume contracted sharply to 560 tons by 2020, before embarking on a recovery path that peaked at 894 tons in 2023. This growth phase was interrupted in 2024, with the market receding to 689 tons. In value terms, the market followed a similar pattern, falling from 4.6 million USD in 2018 to a low of 2.6 million USD in 2019-2020, then recovering to 3.8 million USD in 2023.

A key development supporting market expansion occurred in 2022, when the entry of new wholesale players like MOLLIFICIO F.LLI PAGNIN increased the availability of industrial springs and washers for the Portuguese market. This was complemented by the continued activity of established domestic manufacturers such as Molatal, which produces technical springs from carbon and stainless steel. These factors contributed to a 14% increase in market volume that year, reaching 660 tons.

Production spring and lock washers in Portugal

In value, 2018-2021, K $ US

Following a two-year decline, Portugal's production of spring and lock washers has rebounded. In 2021, output was valued at 288.7 K $ US, marking a 12.6% increase from 2020. Over the 2018-2021 period, production decreased by 42.4%, with a compound annual growth rate of -16.8%. The lowest value was recorded in 2020 at 256.4 K $ US, while the largest decline occurred in 2019 at 43.0%.

Annual dynamics of production in Portugal in value, 2018-2021, K $ US

In kind, 2018-2021, kg

After two consecutive years of decline, Portugal's production of spring and lock washers has shown a significant recovery. In 2021, the country produced 19 543 kg, representing a sharp increase of 36.5% compared to the previous year. Over the 2018-2021 period, production fell by 49.6%, with a compound annual growth rate of -20.4%. The lowest output was recorded in 2020 at 14 319 kg, and the steepest decline took place in 2019 at 46.8%.

Annual dynamics of production in Portugal in kind, 2018-2021, kg

Exports spring and lock washers from Portugal

Exports in kind, t

Portugal's exports of spring and lock washers have increased after a two-year downward trend. In 2021, the country exported 74.4 t, which is 65.8% higher than in 2020. Between 2018 and 2021, exports decreased by 12.3%, translating to an annualized rate of -4.3%. The lowest export volume was recorded in 2020 at 44.9 t, and the largest decline occurred in the same year at 36.4%.

Annual dynamics of product's exports from Portugal in kind, 2018-2021, t

From 2018 to 2021, the main destinations for Portugal's exports of spring and lock washers in volume terms were Spain, accounting for 60.7% of exports, Angola with 18.0%, and Poland at 5.8%. Together, these three countries represented 84.6% of total export flows.

Structure of product's exports in kind by countries, 2018-2021

World map of product's exports from Portugal in kind, 2018-2021

Exports in value, K $ US

Portugal's exports of spring and lock washers in value terms reached 634 K $ US in 2021, reflecting a 40.5% increase compared to 2020. Between 2018 and 2021, exports grew by 60%, with an annualized rate of 17.0%. The largest decline was recorded in 2020 at 23.0%, while the most significant increase occurred in 2019 at 48.0%.

Annual dynamics of product's exports from Portugal in value, 2018-2021, K $ US

During the 2018-2021 period, Spain, Poland, and Angola were the primary destinations for Portugal's spring and lock washers exports in value terms. Spain accounted for 32.6% of exports, Poland for 24.1%, and Angola for 19.8%, collectively representing 76.5% of total export value.

Structure of product's exports in value by countries, 2018-2021

World map of product's exports from Portugal in value, 2018-2021

Imports spring and lock washers to Portugal

Imports in kind, t

Portugal's imports of spring and lock washers have risen after a two-year decline. In 2021, the country imported 631.5 t, up by 6.9% year-over-year. Over the 2018-2021 period, imports decreased by 25.1%, with a compound annual growth rate of -9.2%. The lowest import volume was recorded in 2020 at 590.6 t, and the largest decline took place in 2019 at 25.8%.

Annual dynamics of product's imports to Portugal in kind, 2018-2021, t

From 2018 to 2021, China, Germany, and the United Kingdom were the leading sources of spring and lock washers imports to Portugal in volume terms. China accounted for 46.5% of imports, Germany for 17.7%, and the United Kingdom for 8.0%, together making up 72.2% of total import flows.

Structure of product's imports in kind by countries, 2018-2021

World map of product's imports to Portugal in kind, 2018-2021

Imports in value, K $ US

Following a two-year decrease, Portugal's imports of spring and lock washers in value terms have increased. In 2021, imports totaled 3 401 K $ US, showing a 21.8% year-over-year rise. Between 2018 and 2021, imports fell by 24.1%, equating to an annualized rate of -8.8%. The lowest value was recorded in 2020 at 2 792 K $ US, and the largest decline occurred in 2019 at 35.4%.

Annual dynamics of product's imports to Portugal in value, 2018-2021, K $ US

In the 2018-2021 period, Germany, China, and Spain were the principal suppliers of spring and lock washers to Portugal in value terms. Germany accounted for 31.0% of imports, China for 13.5%, and Spain for 12.7%, jointly representing 57.2% of total import value.

Structure of product's imports in value by countries, 2018-2021

World map of product's imports to Portugal in value, 2018-2021