EU: Market for Articles Of Iron Or Steel 2025

Market Size for Articles Of Iron Or Steel in the EU

The EU steel and iron articles market expanded rapidly to $X in 2022, surging by 6.3% against the previous year. The market value increased at an average annual rate of +3.3% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked in 2022 and is expected to retain growth in years to come.

Production of Articles Of Iron Or Steel in the EU

In value terms, steel and iron articles production rose to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +4.2% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when the production volume increased by 30% against the previous year. The level of production peaked in 2022 and is expected to retain growth in years to come.

Exports of Articles Of Iron Or Steel

Exports in the EU

In 2022, overseas shipments of articles of iron or steel increased by 1.7% to X tons, rising for the second year in a row after two years of decline. The total export volume increased at an average annual rate of +3.0% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 16%. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in years to come.

In value terms, steel and iron articles exports expanded to $X in 2022. The total export value increased at an average annual rate of +4.0% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when exports increased by 24% against the previous year. The level of export peaked in 2022 and is likely to see gradual growth in the near future.

Exports by Country

The shipments of the nine major exporters of articles of iron or steel, namely Germany, Italy, Poland, Austria, France, the Czech Republic, the Netherlands, Spain and Slovakia, represented more than two-thirds of total export. The following exporters - Belgium (X tons), Denmark (X tons) and Romania (X tons) - each recorded a 5.9% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by France (with a CAGR of +8.2%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Italy ($X) and Poland ($X) appeared to be the countries with the highest levels of exports in 2022, together comprising 46% of total exports.

Poland, with a CAGR of +8.2%, recorded the highest rates of growth with regard to the value of exports, among 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 the European Union stood at $X per ton in 2022, with an increase of 2% against the previous year. In general, the export price saw modest growth. The growth pace was the most rapid in 2018 when the export price increased by 7.1% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Denmark ($X per ton), while Austria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+3.5%), while the other leaders experienced more modest paces of growth.

Imports of Articles Of Iron Or Steel

Imports in the EU

Steel and iron articles imports stood at X tons in 2022, remaining relatively unchanged against the previous year. The total import volume increased at an average annual rate of +3.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 16%. The volume of import peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, steel and iron articles imports expanded to $X in 2022. Total imports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +35.1% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 29% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Germany (X tons), distantly followed by France (X tons), Austria (X tons), Poland (X tons), Italy (X tons), Spain (X tons), the Czech Republic (X tons) and the Netherlands (X tons) represented the largest importers of articles of iron or steel, together committing 72% of total imports. Belgium (X tons), Romania (X tons), Hungary (X tons), Slovakia (X tons) and Sweden (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to steel and iron articles imports into Germany stood at +2.8%. At the same time, Hungary (+6.7%), Spain (+6.5%), Italy (+5.4%), Poland (+4.6%), the Netherlands (+4.3%), Sweden (+4.2%), the Czech Republic (+3.8%), Romania (+2.9%), France (+2.4%) and Belgium (+1.3%) displayed positive paces of growth. Moreover, Hungary emerged as the fastest-growing importer imported in the European Union, with a CAGR of +6.7% from 2012-2022. Austria and Slovakia experienced a relatively flat trend pattern. Germany (-2 p.p.) and Austria (-2.3 p.p.) significantly weakened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($X) constitutes the largest market for imported articles of iron or steel in the European Union, comprising 25% of total imports. The second position in the ranking was taken by France ($X), with an 11% share of total imports. It was followed by Austria, with a 7% share.

In Germany, steel and iron articles imports expanded at an average annual rate of +5.3% over the period from 2012-2022. In the other countries, the average annual rates were as follows: France (+3.3% per year) and Austria (+4.5% per year).

Import Prices by Country

In 2022, the import price in the European Union amounted to $X per ton, surging by 3.5% against the previous year. Over the last decade, it increased at an average annual rate of +1.7%. The pace of growth appeared the most rapid in 2018 when the import price increased by 13%. Over the period under review, import prices hit record highs in 2022 and is expected to retain growth in years to come.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Hungary ($X per ton) and the Netherlands ($X per ton), while Slovakia ($X per ton) and Spain ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Austria (+3.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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