Spring and lock washers market in Spain

Earlier Report Observations

The Spanish market for spring and lock washers showed pronounced volatility from 2018 to 2024. Starting at a high of 2 039 tons in 2018, market volume collapsed to 727 tons in 2019, then partially recovered to 1 051 tons in 2020 before slipping again to 897 tons in 2021.

A growth phase resumed in 2022, with the market expanding to 1 139 tons and then surging to 1 772 tons in 2023. This upward trajectory was abruptly reversed in 2024 when market volume fell sharply to 921 tons.

The 2024 decline coincided with the implementation of new industrial construction regulations, including Ley 5/2024 on renewable energy integration and Real Decreto 355/2024 updating technical standards for industrial elevators. These rules altered technical requirements for fasteners and likely affected demand. Additionally, the new State Collective Agreement for the Industrial Cold Industries, published in December 2024, introduced labor and safety provisions that could have influenced production and distribution schedules for industrial components like washers.

Production spring and lock washers in Spain

In value, 2017-2020, K $ US

Spain's production of spring and lock washers declined for the second consecutive year. In 2020, output was valued at 866 K $ US, down 5.2% from the previous year. Over the period from 2017 to 2020, production fell by 28%, with a compound annual growth rate of 10.4%. The highest value was recorded in 2018 at 1 255 K $ US, which saw a 4.3% increase. The largest decline occurred in 2019, with a drop of 27.1%.

Annual dynamics of production in Spain in value, 2017-2020, K $ US

In kind, 2017-2020, t

Spain's production volume of spring and lock washers declined for the second year in a row. In 2020, 110.5 tonnes were produced, a decrease of 9.7% compared to the previous year. Between 2017 and 2020, production fell by 35.6%, equating to an annualized rate of 13.6%. The peak volume was recorded in 2018 at 192.9 tonnes, which saw a 12.5% increase. The largest decline was in 2019, with a drop of 36.6%.

Annual dynamics of production in Spain in kind, 2017-2020, t

Exports spring and lock washers from Spain

Exports in kind, t

After a two-year decline, Spain's exports of spring and lock washers increased in 2020. The country exported 524 tonnes, up 23.7% year-on-year. Between 2017 and 2020, exports decreased by 31.9%, with an annualized rate of 12.0%. The lowest volume was recorded in 2019 at 424 tonnes. The largest decline occurred in 2018, with a drop of 30.8%.

Annual dynamics of product's exports from Spain in kind, 2017-2020, t

From 2017 to 2020, Germany, Portugal, and France formed the core of Spain's exports in kind. Germany accounted for 33.7% of exports, Portugal for 17.7%, and France for 16.9%. Together, these three countries represented 68.3% of total export flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Spain in kind, 2017-2020

Exports in value, K $ US

Spain's export value of spring and lock washers declined for the second consecutive year. In 2020, exports amounted to 3 436 K $ US, showing a modest decrease of 6.2% compared to the previous year. Over the period from 2017 to 2020, exports fell by 16.9%, with a compound annual growth rate of 6.0%. The highest value was recorded in 2018 at 4 307 K $ US, which saw a 4.1% increase. The largest decline occurred in 2019, with a drop of 14.9%.

Annual dynamics of product's exports from Spain in value, 2017-2020, K $ US

From 2017 to 2020, France, Germany, and Portugal played the leading roles in Spain's export value of spring and lock washers. France accounted for 27.4% of exports in value terms, Germany for 16.8%, and Portugal for 14.6%. Together, these three countries accounted for 58.8% of total export flows.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Spain in value, 2017-2020

Imports spring and lock washers to Spain

Imports in kind, t

After a two-year decline, Spain's imports of spring and lock washers increased in 2020. The country imported 1 029 tonnes, up 42.4% compared to 2019. Over the period from 2017 to 2020, imports decreased by 43.1%, with a compound annual growth rate of 17.2%. The lowest volume was recorded in 2019 at 1 029 tonnes, which saw a decline of 56.7%.

Annual dynamics of product's imports to Spain in kind, 2017-2020, t

From 2017 to 2020, the leading sources for Spain's imports in kind of spring and lock washers were Italy, France, and China. Italy accounted for 35.8% of imports, France for 21.4%, and China for 18.0%. Together, these three countries represented 75.2% of total import flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Spain in kind, 2017-2020

Imports in value, K $ US

In 2020, Spain's import value of spring and lock washers was 9 011 K $ US, showing a gradual decrease of 7.5% compared to 2019. Between 2017 and 2020, imports fell by 6.2%, equating to an annualized rate of 2.1%. The highest value was recorded in 2019 at 9 746 K $ US, which saw a 1.6% increase.

Annual dynamics of product's imports to Spain in value, 2017-2020, K $ US

From 2017 to 2020, France, Germany, and Italy continued to head the list of suppliers of spring and lock washers to Spain in value terms. France accounted for 20.4% of imports, Germany for 20.0%, and Italy for 18.8%. Together, these three countries accounted for 59.2% of total imports in value terms.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Spain in value, 2017-2020