Global Sheet Piling Market to Witness Steady Growth with +2.3% CAGR, Reaching $22.8B by 2030

IndexBox has just published a new report: World - Sheet Piling, Shapes And Sections (Of Iron Or Steel) - Market Analysis, Forecast, Size, Trends and Insights.

Driven by increasing demand worldwide, the market for sheet piling, shapes, and sections of iron or steel is anticipated to grow steadily over the next seven years. With a projected CAGR of +2.3% in volume and +4.3% in value, the market is forecasted to reach 13M tons and $22.8B by 2030.

Market Forecast

Driven by increasing demand for sheet piling, shapes and sections (of iron or steel) worldwide, the market is expected to continue an upward consumption trend over the next seven-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +2.3% for the period from 2023 to 2030, which is projected to bring the market volume to 13M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.3% for the period from 2023 to 2030, which is projected to bring the market value to $22.8B (in nominal wholesale prices) by the end of 2030.

Consumption

World Consumption of Sheet Piling, Shapes And Sections (Of Iron Or Steel)

In 2023, consumption of sheet piling, shapes and sections (of iron or steel) decreased by -0.6% to 11M tons, falling for the second consecutive year after two years of growth. Over the period under review, the total consumption indicated noticeable growth from 2013 to 2023: its volume increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by -3.2% against 2021 indices. Global consumption peaked at 12M tons in 2021; however, from 2022 to 2023, consumption stood at a somewhat lower figure.

The global sheet piling market revenue rose to $16.9B in 2023, with an increase of 3.8% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, the total consumption indicated a temperate expansion from 2013 to 2023: its value increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption increased by +85.9% against 2015 indices. Over the period under review, the global market attained the maximum level in 2023 and is likely to see steady growth in years to come.

Consumption By Country

The countries with the highest volumes of consumption in 2023 were China (1.7M tons), the United States (1.3M tons) and Qatar (839K tons), together comprising 33% of global consumption. Brazil, the Philippines, Japan, Pakistan, Indonesia, Germany and the UK lagged somewhat behind, together accounting for a further 28%.

From 2013 to 2023, the biggest increases were recorded for the Philippines (with a CAGR of +37.9%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($4.4B) led the market, alone. The second position in the ranking was taken by China ($1.2B). It was followed by Brazil.

From 2013 to 2023, the average annual growth rate of value in the United States amounted to +3.6%. The remaining consuming countries recorded the following average annual rates of market growth: China (+0.4% per year) and Brazil (+14.6% per year).

In 2023, the highest levels of sheet piling per capita consumption was registered in Qatar (277 kg per person), followed by the Philippines (4.9 kg per person), Germany (4.3 kg per person) and Japan (4.2 kg per person), while the world average per capita consumption of sheet piling was estimated at 1.4 kg per person.

In Qatar, sheet piling per capita consumption increased at an average annual rate of +13.4% over the period from 2013-2023. In the other countries, the average annual rates were as follows: the Philippines (+36.0% per year) and Germany (+2.9% per year).

Production

World Production of Sheet Piling, Shapes And Sections (Of Iron Or Steel)

Global sheet piling production amounted to 12M tons in 2023, picking up by 2.6% on the year before. Overall, the total production indicated a notable expansion from 2013 to 2023: its volume increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by -2.8% against 2021 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by 14% against the previous year. Over the period under review, global production hit record highs at 12M tons in 2021; however, from 2022 to 2023, production remained at a lower figure.

In value terms, sheet piling production rose rapidly to $17.4B in 2023 estimated in export price. Over the period under review, the total production indicated a resilient expansion from 2013 to 2023: its value increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production increased by +33.8% against 2018 indices. The most prominent rate of growth was recorded in 2021 when the production volume increased by 22%. Over the period under review, global production hit record highs in 2023 and is likely to see steady growth in years to come.

Production By Country

The country with the largest volume of sheet piling production was China (2.7M tons), comprising approx. 23% of total volume. Moreover, sheet piling production in China exceeded the figures recorded by the second-largest producer, the United States (1.2M tons), twofold. The third position in this ranking was held by Qatar (1.1M tons), with a 9.3% share.

From 2013 to 2023, the average annual growth rate of volume in China amounted to +5.7%. The remaining producing countries recorded the following average annual rates of production growth: the United States (+3.5% per year) and Qatar (+2.2% per year).

Imports

World Imports of Sheet Piling, Shapes And Sections (Of Iron Or Steel)

Global sheet piling imports fell to 2M tons in 2023, shrinking by -7.9% on the year before. Overall, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2016 when imports increased by 11%. Over the period under review, global imports attained the peak figure at 2.4M tons in 2018; however, from 2019 to 2023, imports remained at a lower figure.

In value terms, sheet piling imports dropped to $2.2B in 2023. In general, imports continue to indicate a mild shrinkage. The most prominent rate of growth was recorded in 2022 with an increase of 26%. As a result, imports reached the peak of $2.5B, and then dropped in the following year.

Imports By Country

In 2023, the Philippines (561K tons) represented the largest importer of sheet piling, shapes and sections (of iron or steel), generating 29% of total imports. The Netherlands (147K tons) held a 7.5% share (based on physical terms) of total imports, which put it in second place, followed by the United States (5.7%) and Hong Kong SAR (4.7%). Germany (70K tons), the UK (66K tons), Taiwan (Chinese) (63K tons), Ireland (60K tons), Russia (47K tons) and Singapore (44K tons) took a minor share of total imports.

The Philippines was also the fastest-growing in terms of the sheet piling, shapes and sections (of iron or steel) imports, with a CAGR of +37.2% from 2013 to 2023. At the same time, Ireland (+21.4%) and Taiwan (Chinese) (+11.8%) displayed positive paces of growth. Singapore and the UK experienced a relatively flat trend pattern. By contrast, the United States (-2.5%), the Netherlands (-3.5%), Germany (-4.3%), Hong Kong SAR (-5.2%) and Russia (-7.5%) illustrated a downward trend over the same period. While the share of the Philippines (+27 p.p.), Ireland (+2.7 p.p.) and Taiwan (Chinese) (+2.2 p.p.) increased significantly in terms of the global imports from 2013-2023, the share of the Netherlands (-2.3 p.p.), Russia (-2.4 p.p.) and Hong Kong SAR (-2.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Philippines ($386M) constitutes the largest market for imported sheet piling, shapes and sections (of iron or steel) worldwide, comprising 17% of global imports. The second position in the ranking was held by the Netherlands ($181M), with an 8.1% share of global imports. It was followed by the United States, with a 7.1% share.

From 2013 to 2023, the average annual growth rate of value in the Philippines totaled +36.1%. The remaining importing countries recorded the following average annual rates of imports growth: the Netherlands (-1.4% per year) and the United States (-1.6% per year).

Import Prices By Country

The average sheet piling import price stood at $1,134 per ton in 2023, falling by -2.8% against the previous year. In general, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average import price increased by 23%. Over the period under review, average import prices reached the peak figure at $1,166 per ton in 2022, and then declined slightly in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Germany ($1,988 per ton), while Hong Kong SAR ($662 per ton) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was attained by Germany (+5.0%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Sheet Piling, Shapes And Sections (Of Iron Or Steel)

After four years of decline, overseas shipments of sheet piling, shapes and sections (of iron or steel) increased by 9.5% to 2.3M tons in 2023. In general, exports, however, recorded a slight decline. The most prominent rate of growth was recorded in 2014 with an increase of 18% against the previous year. Over the period under review, the global exports attained the maximum at 3.1M tons in 2018; however, from 2019 to 2023, the exports failed to regain momentum.

In value terms, sheet piling exports contracted to $2.5B in 2023. Over the period under review, exports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 29% against the previous year. The global exports peaked at $2.7B in 2014; however, from 2015 to 2023, the exports stood at a somewhat lower figure.

Exports By Country

In 2023, China (1M tons) represented the largest exporter of sheet piling, shapes and sections (of iron or steel), creating 44% of total exports. Luxembourg (402K tons) ranks second in terms of the total exports with a 17% share, followed by Qatar (11%) and the Czech Republic (4.8%). Poland (68K tons), the United Arab Emirates (67K tons), Japan (58K tons) and the Netherlands (39K tons) held a relatively small share of total exports.

Exports from China increased at an average annual rate of +14.0% from 2013 to 2023. At the same time, the United Arab Emirates (+20.8%), the Netherlands (+2.1%) and the Czech Republic (+1.3%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in the world, with a CAGR of +20.8% from 2013-2023. By contrast, Poland (-3.1%), Luxembourg (-3.5%), Japan (-7.9%) and Qatar (-9.7%) illustrated a downward trend over the same period. China (+33 p.p.) and the United Arab Emirates (+2.5 p.p.) significantly strengthened its position in terms of the global exports, while Japan, Luxembourg and Qatar saw its share reduced by -2.6%, -5% and -16% from 2013 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($702M), Luxembourg ($529M) and Poland ($147M) constituted the countries with the highest levels of exports in 2023, together comprising 55% of global exports. The Czech Republic, Qatar, the Netherlands, the United Arab Emirates and Japan lagged somewhat behind, together accounting for a further 19%.

In terms of the main exporting countries, the United Arab Emirates, with a CAGR of +20.8%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

The average sheet piling export price stood at $1,080 per ton in 2023, dropping by -13.7% against the previous year. Over the period under review, the export price, however, showed modest growth. The most prominent rate of growth was recorded in 2021 when the average export price increased by 30% against the previous year. Over the period under review, the average export prices hit record highs at $1,251 per ton in 2022, and then reduced in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Poland ($2,160 per ton), while Qatar ($496 per ton) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was attained by Poland (+7.0%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform