Belgium: Cold-Rolled Steel Products Market 2025

Cold-Rolled Steel Products Market Size in Belgium

In 2022, after two years of growth, there was significant decline in the Belgian cold-rolled steel products market, when its value decreased by -8.1% to $X. In general, consumption, however, enjoyed a prominent expansion. Cold-rolled steel products consumption peaked at $X in 2021, and then contracted in the following year.

Cold-Rolled Steel Products Production in Belgium

In value terms, cold-rolled steel products production declined to $X in 2022 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 32%. As a result, production attained the peak level of $X, and then reduced in the following year.

Cold-Rolled Steel Products Exports

Exports from Belgium

In 2022, overseas shipments of flat-rolled products of iron or steel (not further worked than cold-rolled) increased by 2.9% to X tons, rising for the third year in a row after two years of decline. Overall, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when exports increased by 22%. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, cold-rolled steel products exports surged to $X in 2022. In general, exports posted a pronounced increase. The growth pace was the most rapid in 2021 with an increase of 60% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

Germany (X tons) was the main destination for cold-rolled steel products exports from Belgium, accounting for a 31% share of total exports. Moreover, cold-rolled steel products exports to Germany exceeded the volume sent to the second major destination, France (X tons), twofold. The Netherlands (X tons) ranked third in terms of total exports with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: France (-2.2% per year) and the Netherlands (+3.1% per year).

In value terms, Germany ($X) remains the key foreign market for flat-rolled products of iron or steel (not further worked than cold-rolled) exports from Belgium, comprising 37% of total exports. The second position in the ranking was taken by Italy ($X), with a 14% share of total exports. It was followed by France, with a 12% share.

From 2012 to 2022, the average annual growth rate of value to Germany amounted to +5.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+14.0% per year) and France (+3.4% per year).

Export Prices by Country

The average cold-rolled steel products export price stood at $X per ton in 2022, growing by 25% against the previous year. In general, export price indicated a moderate expansion from 2012 to 2022: its price increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cold-rolled steel products export price increased by +83.5% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of 47%. The export price peaked in 2022 and is likely to see gradual growth in the near future.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Luxembourg ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to France (+5.8%), while the prices for the other major destinations experienced more modest paces of growth.

Cold-Rolled Steel Products Imports

Imports into Belgium

In 2022, after two years of growth, there was significant decline in supplies from abroad of flat-rolled products of iron or steel (not further worked than cold-rolled), when their volume decreased by -11.3% to X tons. In general, imports, however, continue to indicate notable growth. The pace of growth was the most pronounced in 2020 with an increase of 56%. Over the period under review, imports attained the maximum at X tons in 2021, and then dropped in the following year.

In value terms, cold-rolled steel products imports soared to $X in 2022. Over the period under review, imports, however, saw a resilient increase. The pace of growth appeared the most rapid in 2021 with an increase of 97%. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the near future.

Imports by Country

In 2022, the Netherlands (X tons) constituted the largest supplier of cold-rolled steel products to Belgium, with a 40% share of total imports. Moreover, cold-rolled steel products imports from the Netherlands exceeded the figures recorded by the second-largest supplier, France (X tons), threefold. The third position in this ranking was taken by Germany (X tons), with a 9.8% share.

From 2012 to 2022, the average annual growth rate of volume from the Netherlands stood at +1.8%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+12.8% per year) and Germany (+1.5% per year).

In value terms, the largest cold-rolled steel products suppliers to Belgium were the Netherlands ($X), France ($X) and Germany ($X), together comprising 58% of total imports. Taiwan (Chinese), Italy, South Korea, China, Finland, India, Turkey and Brazil lagged somewhat behind, together comprising a further 34%.

Among the main suppliers, Turkey, with a CAGR of +86.9%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average cold-rolled steel products import price stood at $X per ton in 2022, jumping by 36% against the previous year. In general, import price indicated a measured expansion from 2012 to 2022: its price increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cold-rolled steel products import price increased by +72.2% against 2018 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+9.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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