EU: Market for Welded And Cold-Formed Sections Of Steel 2024

Market Size for Welded And Cold-Formed Sections Of Steel in the EU

For the third year in a row, the EU market for welded and cold-formed sections of steel recorded growth in sales value, which increased by 26% to $X in 2022. Overall, consumption, however, recorded a mild contraction. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Production of Welded And Cold-Formed Sections Of Steel in the EU

In value terms, welded and cold-formed steel sections production expanded significantly to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a perceptible descent. The pace of growth appeared the most rapid in 2018 with an increase of 28% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Exports of Welded And Cold-Formed Sections Of Steel

Exports in the EU

In 2022, exports of welded and cold-formed sections of steel in the European Union reduced to X tons, declining by -1.8% against the previous year's figure. Total exports indicated resilient growth from 2012 to 2022: its volume increased at an average annual rate of +8.2% 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 +119.5% against 2012 indices. The growth pace was the most rapid in 2013 with an increase of 59% against the previous year. The volume of export peaked at X tons in 2021, and then dropped modestly in the following year.

In value terms, welded and cold-formed steel sections exports fell to $X in 2022. Total exports indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +7.8% 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 +35.0% against 2020 indices. The growth pace was the most rapid in 2013 when exports increased by 53% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2021, and then reduced modestly in the following year.

Exports by Country

The shipments of the three major exporters of welded and cold-formed sections of steel, namely Germany, Spain and Poland, represented more than half of total export. It was distantly followed by Romania (X tons), Ireland (X tons) and Bulgaria (X tons), together comprising a 19% share of total exports. The following exporters - the Netherlands (X tons), Italy (X tons), Belgium (X tons), Portugal (X tons) and Denmark (X tons) - together made up 13% of total exports.

From 2012 to 2022, the biggest increases were recorded for Bulgaria (with a CAGR of +34.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), Germany ($X) and Spain ($X) were the countries with the highest levels of exports in 2022, with a combined 53% share of total exports. The Netherlands, Romania, Italy, Ireland, Denmark, Bulgaria, Portugal and Belgium lagged somewhat behind, together accounting for a further 32%.

In terms of the main exporting countries, Bulgaria, with a CAGR of +33.9%, recorded the highest growth rate of 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 2022, the export price in the European Union amounted to $X per ton, with an increase of 1.7% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 20% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Portugal (+5.4%), while the other leaders experienced more modest paces of growth.

Imports of Welded And Cold-Formed Sections Of Steel

Imports in the EU

In 2022, imports of welded and cold-formed sections of steel in the European Union soared to X tons, jumping by 127% against 2021. Over the period under review, imports recorded a strong expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, welded and cold-formed steel sections imports soared to $X in 2022. Total imports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +5.0% 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 +76.2% against 2017 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Ireland (X tons) was the key importer of welded and cold-formed sections of steel, making up 50% of total imports. France (X tons) held an 8.3% share (based on physical terms) of total imports, which put it in second place, followed by Germany (7.8%), Spain (6.6%) and Denmark (6%). The Czech Republic (X tons), Italy (X tons), Portugal (X tons), Bulgaria (X tons) and Romania (X tons) followed a long way behind the leaders.

Ireland was also the fastest-growing in terms of the welded and cold-formed sections of steel imports, with a CAGR of +28.3% from 2012 to 2022. At the same time, Bulgaria (+20.8%), France (+9.7%), Germany (+8.8%), Portugal (+8.4%), Denmark (+7.0%), the Czech Republic (+5.9%) and Spain (+3.4%) displayed positive paces of growth. By contrast, Italy (-1.4%) and Romania (-5.2%) illustrated a downward trend over the same period. Ireland (+40 p.p.) significantly strengthened its position in terms of the total imports, while Denmark, Spain, Italy and Romania saw its share reduced by -1.6%, -5.1%, -5.4% and -5.8% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest welded and cold-formed steel sections importing markets in the European Union were Germany ($X), Ireland ($X) and France ($X), together accounting for 50% of total imports.

Ireland, with a CAGR of +19.1%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in the European Union stood at $X per ton in 2022, dropping by -42.2% against the previous year. Overall, the import price recorded a noticeable shrinkage. The pace of growth appeared the most rapid in 2021 an increase of 55%. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Romania (+4.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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