Belgium: Hot-Rolled Steel Products Market 2024

Hot-Rolled Steel Products Market Size in Belgium

In 2021, the Belgian hot-rolled steel products market increased by 53% to $X, rising for the fourth year in a row after three years of decline. In general, consumption showed a strong expansion. Over the period under review, the market attained the maximum level in 2021 and is likely to continue growth in the immediate term.

Hot-Rolled Steel Products Production in Belgium

In value terms, hot-rolled steel products production stood at $X in 2021 estimated in export price. Overall, the total production indicated a notable expansion from 2012 to 2021: its value increased at an average annual rate of +2.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -0.1% against 2019 indices. The pace of growth appeared the most rapid in 2018 with an increase of 44%. Over the period under review, production attained the peak level at $X in 2019; afterwards, it flattened through to 2021.

Hot-Rolled Steel Products Exports

Exports from Belgium

In 2021, approx. X tons of flat-rolled products of iron or steel (not further worked than hot-rolled) were exported from Belgium; surging by 10% compared with the previous year. The total export volume increased at an average annual rate of +1.3% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The pace of growth was the most pronounced in 2017 when exports increased by 10% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the immediate term.

In value terms, hot-rolled steel products exports skyrocketed to $X in 2021. In general, total exports indicated a mild increase from 2012 to 2021: its value increased at an average annual rate of +1.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

France (X tons), Germany (X tons) and the Netherlands (X tons) were the main destinations of hot-rolled steel products exports from Belgium, together comprising 71% of total exports. Italy, Poland, the UK, Turkey and the United States lagged somewhat behind, together comprising a further 13%.

From 2012 to 2021, the biggest increases were recorded for Poland (with a CAGR of +12.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, France ($X), Germany ($X) and the Netherlands ($X) were the largest markets for hot-rolled steel products exported from Belgium worldwide, together accounting for 68% of total exports. These countries were followed by Italy, Poland, the UK, the United States and Turkey, which together accounted for a further 16%.

Among the main countries of destination, Poland, with a CAGR of +15.0%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average hot-rolled steel products export price amounted to $X per ton, growing by 42% against the previous year. Overall, the export price recorded a relatively flat trend pattern. As a result, the export 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 suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Poland (+1.9%), while the prices for the other major destinations experienced more modest paces of growth.

Hot-Rolled Steel Products Imports

Imports into Belgium

In 2021, overseas purchases of flat-rolled products of iron or steel (not further worked than hot-rolled) increased by 34% to X tons, rising for the second consecutive year after three years of decline. The total import volume increased at an average annual rate of +1.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, hot-rolled steel products imports soared to $X in 2021. In general, total imports indicated a notable expansion from 2012 to 2021: its value increased at an average annual rate of +3.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Germany (X tons), Russia (X tons) and France (X tons) were the main suppliers of hot-rolled steel products imports to Belgium, with a combined 45% share of total imports. India, Taiwan (Chinese), the Netherlands, Turkey, South Korea, Sweden, Italy, Austria, Luxembourg and China lagged somewhat behind, together accounting for a further 45%.

From 2012 to 2021, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +87.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), India ($X) and Russia ($X) constituted the largest hot-rolled steel products suppliers to Belgium, with a combined 42% share of total imports. These countries were followed by Taiwan (Chinese), France, the Netherlands, Turkey, South Korea, Italy, Sweden, Austria, Luxembourg and China, which together accounted for a further 47%.

In terms of the main suppliers, Taiwan (Chinese), with a CAGR of +65.6%, saw 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 hot-rolled steel products import price stood at $X per ton in 2021, surging by 53% against the previous year. Overall, import price indicated a notable increase from 2012 to 2021: its price increased at an average annual rate of +2.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import 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 supplying countries. In 2021, amid the top importers, the country with the highest price was China ($X per ton), while the price for Russia ($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 (+9.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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