Benelux: Non-Alloy Steel U-Section Market 2024

Non-Alloy Steel U-Section Market Size in Benelux

The Benelux non-alloy steel u-section market totaled $X in 2022, with an increase of 14% against the previous year. The total consumption indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +66.7% against 2019 indices. Over the period under review, the market reached the peak level in 2022 and is expected to retain growth in the immediate term.

Non-Alloy Steel U-Section Production in Benelux

In value terms, non-alloy steel u-section production expanded significantly to $X in 2022 estimated in export price. The total production indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -8.5% against 2020 indices. The growth pace was the most rapid in 2020 when the production volume increased by 52%. Over the period under review, production attained the peak level at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

Non-Alloy Steel U-Section Exports

Exports in Benelux

In 2022, shipments abroad of u-sections of non-alloy steel increased by 10% to X tons, rising for the second year in a row after two years of decline. In general, exports, however, showed a perceptible slump. The most prominent rate of growth was recorded in 2015 when exports increased by 38% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, non-alloy steel u-section exports surged to $X in 2022. Total exports indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +92.2% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 46%. The level of export peaked in 2022 and is likely to continue growth in years to come.

Exports by Country

Luxembourg (X tons) and the Netherlands (X tons) were the main exporters of u-sections of non-alloy steel in 2022, reaching approx. 45% and 31% of total exports, respectively. It was distantly followed by Belgium (X tons), committing a 25% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Belgium (with a CAGR of -0.9%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, the largest non-alloy steel u-section supplying countries in Benelux were Luxembourg ($X), the Netherlands ($X) and Belgium ($X).

The Netherlands, with a CAGR of +2.2%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Benelux stood at $X per ton in 2022, rising by 19% against the previous year. Export price indicated a perceptible increase from 2012 to 2022: its price 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 2022 figures, non-alloy steel u-section export price increased by +71.1% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of 43% against the previous year. The level of export peaked in 2022 and is expected to retain growth in years to come.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, 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 Luxembourg (+5.0%), while the other leaders experienced more modest paces of growth.

Non-Alloy Steel U-Section Imports

Imports in Benelux

Non-alloy steel u-section imports shrank slightly to X tons in 2022, waning by -2.8% against the previous year. Overall, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 20%. As a result, imports attained the peak of X tons, and then reduced slightly in the following year.

In value terms, non-alloy steel u-section imports skyrocketed to $X in 2022. Over the period under review, imports, however, showed perceptible growth. The pace of growth was the most pronounced in 2021 when imports increased by 78%. The level of import peaked in 2022 and is likely to see gradual growth in the near future.

Imports by Country

In 2022, the Netherlands (X tons) was the key importer of u-sections of non-alloy steel, generating 68% of total imports. Belgium (X tons) took the second position in the ranking, distantly followed by Luxembourg (X tons). All these countries together held approx. 32% share of total imports.

The Netherlands was also the fastest-growing in terms of the u-sections of non-alloy steel imports, with a CAGR of +2.5% from 2012 to 2022. Belgium experienced a relatively flat trend pattern. Luxembourg (-6.5%) illustrated a downward trend over the same period. While the share of the Netherlands (+11 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Belgium (-2.4 p.p.) and Luxembourg (-8.3 p.p.) displayed negative dynamics.

In value terms, the Netherlands ($X) constitutes the largest market for imported u-sections of non-alloy steel in Benelux, comprising 66% of total imports. The second position in the ranking was held by Belgium ($X), with a 26% share of total imports.

From 2012 to 2022, the average annual growth rate of value in the Netherlands stood at +5.8%. In the other countries, the average annual rates were as follows: Belgium (+3.8% per year) and Luxembourg (-2.1% per year).

Import Prices by Country

The import price in Benelux stood at $X per ton in 2022, rising by 19% against the previous year. Import price indicated perceptible growth from 2012 to 2022: its price increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, non-alloy steel u-section import price increased by +77.5% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the import price increased by 49%. Over the period under review, import prices reached the maximum in 2022 and is likely to continue growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Luxembourg (+4.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform