Europe: Iron And Steel Market 2024

Iron And Steel Market Size in Europe

In 2021, the Europe iron and steel market was finally on the rise to reach $X after two years of decline. Over the period under review, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Iron And Steel Production in Europe

In value terms, iron and steel production surged to $X in 2021 estimated in export price. In general, production showed a relatively flat trend pattern. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

Iron And Steel Exports

Exports in Europe

In 2021, the amount of iron and steel exported in Europe was estimated at X tons, remaining stable against 2020 figures. Overall, exports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of 18% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2021, the growth of the exports remained at a lower figure.

In value terms, iron and steel exports soared to $X in 2021. Total exports indicated a modest expansion from 2012 to 2021: its value increased at an average annual rate of +1.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +59.8% against 2019 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Russia (X tons) and Ukraine (X tons) prevails in exports structure, together making up 83% of total exports. It was distantly followed by the Netherlands (X tons), comprising a 4.7% share of total exports. Germany (X tons) and France (X tons) held a minor share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by France (with a CAGR of +10.7%), while the other leaders experienced more modest paces of growth.

In value terms, Russia ($X), Ukraine ($X) and the Netherlands ($X) appeared to be the countries with the highest levels of exports in 2021, together comprising 85% of total exports. These countries were followed by Germany and France, which together accounted for a further 5.7%.

France, with a CAGR of +10.8%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in Europe amounted to $X per ton, increasing by 58% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. 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 amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was France ($X per ton), while Ukraine ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+3.4%), while the other leaders experienced more modest paces of growth.

Iron And Steel Imports

Imports in Europe

After two years of decline, purchases abroad of iron and steel increased by 29% to X tons in 2021. Overall, imports, however, recorded a relatively flat trend pattern. Over the period under review, imports reached the maximum at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, iron and steel imports surged to $X in 2021. In general, imports recorded a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Italy was the main importer of iron and steel in Europe, with the volume of imports reaching X tons, which was near 39% of total imports in 2021. It was distantly followed by the Netherlands (X tons), Germany (X tons), Spain (X tons) and Poland (X tons), together making up a 36% share of total imports. Belgium (X tons), Denmark (X tons), France (X tons), Belarus (X tons), Romania (X tons) and the Czech Republic (X tons) followed a long way behind the leaders.

Imports into Italy increased at an average annual rate of +2.8% from 2012 to 2021. At the same time, the Netherlands (+6.2%), Poland (+2.3%) and Denmark (+2.3%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing importer imported in Europe, with a CAGR of +6.2% from 2012-2021. Romania and the Czech Republic experienced a relatively flat trend pattern. By contrast, Spain (-1.3%), France (-3.2%), Belarus (-5.1%), Germany (-7.9%) and Belgium (-10.0%) illustrated a downward trend over the same period. While the share of Italy (+9.9 p.p.) and the Netherlands (+6 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Belgium (-4.7 p.p.) and Germany (-8.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Italy ($X) constitutes the largest market for imported iron and steel in Europe, comprising 36% of total imports. The second position in the ranking was held by the Netherlands ($X), with a 14% share of total imports. It was followed by Germany, with a 9.3% share.

In Italy, iron and steel imports expanded at an average annual rate of +4.9% over the period from 2012-2021. In the other countries, the average annual rates were as follows: the Netherlands (+8.0% per year) and Germany (-7.7% per year).

Import Prices by Country

In 2021, the import price in Europe amounted to $X per ton, rising by 51% against the previous year. Import price indicated a slight increase from 2012 to 2021: its price increased at an average annual rate of +1.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Czech Republic (+5.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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