Azerbaijan: Market for Iron or Steel Cans 2024

Market Size for Iron or Steel Cans in Azerbaijan

In 2021, the Azerbaijani iron or steel can market decreased by -5.6% to $X for the first time since 2015, thus ending a five-year rising trend. Overall, the total consumption indicated a pronounced increase from 2012 to 2021: its value increased at an average annual rate of +3.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +52.1% against 2015 indices. Over the period under review, the market hit record highs at $X in 2020, and then shrank in the following year.

Production of Iron or Steel Cans in Azerbaijan

In value terms, iron or steel can production reduced to $X in 2021 estimated in export price. In general, the total production indicated notable growth from 2012 to 2021: its value increased at an average annual rate of +4.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +68.3% against 2015 indices. The most prominent rate of growth was recorded in 2018 with an increase of 30% against the previous year. Iron or steel can production peaked at $X in 2020, and then fell in the following year.

Exports of Iron or Steel Cans

Exports from Azerbaijan

In 2021, overseas shipments of iron or steel cans decreased by -6.7% to X units, falling for the seventh year in a row after three years of growth. Over the period under review, exports, however, recorded a buoyant expansion. The growth pace was the most rapid in 2013 with an increase of 320%. The exports peaked at X units in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, iron or steel can exports soared to $X in 2021. In general, exports, however, recorded significant growth. The pace of growth was the most pronounced in 2013 when exports increased by 185%. The exports peaked in 2021 and are expected to retain growth in years to come.

Exports by Country

Russia (X units) was the main destination for iron or steel can exports from Azerbaijan, with a approx. 99% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Russia amounted to +19.8%.

In value terms, Russia ($X) also remains the key foreign market for iron or steel cans exports from Azerbaijan.

From 2012 to 2021, the average annual rate of growth in terms of value to Russia amounted to +29.9%.

Export Prices by Country

In 2021, the average iron or steel can export price amounted to $X per unit, surging by 29% against the previous year. Overall, the export price continues to indicate a remarkable increase. The pace of growth appeared the most rapid in 2017 an increase of 29%. The export price peaked in 2021 and is expected to retain growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for Russia.

From 2012 to 2021, the rate of growth in terms of prices for Russia amounted to +8.5% per year.

Imports of Iron or Steel Cans

Imports into Azerbaijan

In 2021, after two years of growth, there was significant decline in purchases abroad of iron or steel cans, when their volume decreased by -54.2% to X units. Overall, imports, however, enjoyed significant growth. The growth pace was the most rapid in 2013 when imports increased by 1,885%. Over the period under review, imports attained the peak figure at X units in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, iron or steel can imports fell notably to $X in 2021. In general, imports, however, continue to indicate significant growth. The pace of growth appeared the most rapid in 2013 when imports increased by 2,020%. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Turkey (X units) constituted the largest iron or steel can supplier to Azerbaijan, accounting for a 74% share of total imports. Moreover, iron or steel can imports from Turkey exceeded the figures recorded by the second-largest supplier, China (X units), sevenfold. Iran (X units) ranked third in terms of total imports with a 5.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Turkey stood at +34.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+11.3% per year) and Iran (+22.3% per year).

In value terms, Turkey ($X) constituted the largest supplier of iron or steel cans to Azerbaijan, comprising 74% of total imports. The second position in the ranking was held by China ($X), with a 15% share of total imports. It was followed by Russia, with a 4.2% share.

From 2012 to 2021, the average annual growth rate of value from Turkey totaled +48.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+14.7% per year) and Russia (+39.2% per year).

Import Prices by Country

The average iron or steel can import price stood at $X per unit in 2021, shrinking by -5.2% against the previous year. Over the period under review, the import price showed a mild slump. The pace of growth was the most pronounced in 2017 when the average import price increased by 57% against the previous year. Over the period under review, average import prices attained the peak figure at $X per unit in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was China ($X per unit), while the price for Iran ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+10.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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