Benelux: Market for Hot-Rolled Bars Of High Speed Steel 2024

Market Size for Hot-Rolled Bars Of High Speed Steel in Benelux

The Benelux market for hot-rolled bars of high speed steel declined to $X in 2022, dropping by -6.8% against the previous year. Overall, consumption, however, posted a prominent expansion. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Production of Hot-Rolled Bars Of High Speed Steel in Benelux

In value terms, hot-rolled high speed steel bar production fell to $X in 2022 estimated in export price. In general, production, however, saw a prominent expansion. The pace of growth appeared the most rapid in 2014 when the production volume increased by 73%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Exports of Hot-Rolled Bars Of High Speed Steel

Exports in Benelux

In 2022, overseas shipments of hot-rolled bars of high speed steel decreased by -92.2% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, exports continue to indicate a abrupt curtailment. The growth pace was the most rapid in 2020 when exports increased by 2,859% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, hot-rolled high speed steel bar exports fell rapidly to $X in 2022. Overall, exports faced a abrupt decline. The pace of growth was the most pronounced in 2020 when exports increased by 989% against the previous year. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

The Netherlands prevails in exports structure, resulting at X tons, which was approx. 92% of total exports in 2022. It was distantly followed by Belgium (X tons), committing a 7.6% share of total exports.

The Netherlands was also the fastest-growing in terms of the hot-rolled bars of high speed steel exports, with a CAGR of +6.2% from 2012 to 2022. Belgium (-36.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the Netherlands increased by +86 percentage points.

In value terms, the Netherlands ($X) emerged as the largest hot-rolled high speed steel bar supplier in Benelux, comprising 92% of total exports. The second position in the ranking was held by Belgium ($X), with an 8.5% share of total exports.

From 2012 to 2022, the average annual growth rate of value in the Netherlands amounted to -2.5%.

Export Prices by Country

In 2022, the export price in Benelux amounted to $X per ton, surging by 110% against the previous year. Overall, the export price showed a relatively flat trend pattern. The level of export peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the Netherlands totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+2.7%).

Imports of Hot-Rolled Bars Of High Speed Steel

Imports in Benelux

After three years of growth, purchases abroad of hot-rolled bars of high speed steel decreased by -36.1% to X tons in 2022. In general, imports recorded a abrupt descent. The most prominent rate of growth was recorded in 2013 with an increase of 35%. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, hot-rolled high speed steel bar imports reduced sharply to $X in 2022. Over the period under review, imports saw a abrupt setback. The most prominent rate of growth was recorded in 2020 when imports increased by 34%. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Belgium prevails in imports structure, reaching X tons, which was near 90% of total imports in 2022. It was distantly followed by Luxembourg (X tons), creating a 6.1% share of total imports. The Netherlands (X tons) followed a long way behind the leaders.

Imports into Belgium decreased at an average annual rate of -4.2% from 2012 to 2022. At the same time, Luxembourg (+15.0%) displayed positive paces of growth. Moreover, Luxembourg emerged as the fastest-growing importer imported in Benelux, with a CAGR of +15.0% from 2012-2022. By contrast, the Netherlands (-24.4%) illustrated a downward trend over the same period. While the share of Belgium (+20 p.p.) and Luxembourg (+5.4 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of the Netherlands (-24.9 p.p.) displayed negative dynamics.

In value terms, Belgium ($X) constitutes the largest market for imported hot-rolled bars of high speed steel in Benelux, comprising 79% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a 15% share of total imports.

In Belgium, hot-rolled high speed steel bar imports plunged by an average annual rate of -4.0% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: the Netherlands (-16.5% per year) and Luxembourg (+16.4% per year).

Import Prices by Country

In 2022, the import price in Benelux amounted to $X per ton, dropping by -25.2% against the previous year. Overall, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the import price increased by 23% against the previous year. The level of import peaked at $X per ton in 2021, and then fell rapidly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+10.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform