Europe: Market for Articles Of Iron Or Steel 2025

Market Size for Articles Of Iron Or Steel in Europe

The Europe steel and iron articles market rose to $X in 2022, surging by 4.8% against the previous year. The market value increased at an average annual rate of +3.2% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Production of Articles Of Iron Or Steel in Europe

In value terms, steel and iron articles production rose modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +4.1% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 26%. The level of production peaked in 2022 and is likely to see gradual growth in the immediate term.

Exports of Articles Of Iron Or Steel

Exports in Europe

In 2022, shipments abroad of articles of iron or steel increased by 1.5% 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 +3.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 19%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, steel and iron articles exports rose to $X in 2022. The total export value increased at an average annual rate of +4.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when exports increased by 25% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the near future.

Exports by Country

The biggest shipments were from Germany (X tons), Italy (X tons), Poland (X tons), Austria (X tons), France (X tons), the Czech Republic (X tons), the Netherlands (X tons), Spain (X tons), the UK (X tons) and Slovakia (X tons), together amounting to 81% of total export. The following exporters - Belgium (X tons) and Denmark (X tons) - each amounted to a 3.6% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by the UK (with a CAGR of +10.2%), while the other leaders experienced more modest paces of growth.

In value terms, the largest steel and iron articles supplying countries in Europe were Germany ($X), Italy ($X) and Poland ($X), together accounting for 41% of total exports.

Poland, with a CAGR of +8.2%, recorded the highest rates of growth with regard to 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 Europe stood at $X per ton in 2022, with an increase of 2% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of 6.5% against the previous year. Over the period under review, the export prices attained the peak figure in 2022 and is likely to continue growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2022, 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 Europe

In 2022, approx. X tons of articles of iron or steel were imported in Europe; standing approx. at the previous year's figure. The total import volume increased at an average annual rate of +3.4% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when imports increased by 16% against the previous year. The volume of import peaked in 2022 and is likely to see gradual growth in the near future.

In value terms, steel and iron articles imports rose modestly to $X in 2022. Total imports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +5.2% 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 +29.7% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 26% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the near future.

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) were the major importers of articles of iron or steel, together achieving 62% of total imports. The UK (X tons), Belgium (X tons), Romania (X tons), Russia (X tons) and Hungary (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%), the Czech Republic (+3.8%), Romania (+2.9%), France (+2.4%), Russia (+1.6%), the UK (+1.5%) and Belgium (+1.3%) displayed positive paces of growth. Moreover, Hungary emerged as the fastest-growing importer imported in Europe, with a CAGR of +6.7% from 2012-2022. Austria experienced a relatively flat trend pattern. While the share of Austria (-1.8 p.p.) decreased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($X) constitutes the largest market for imported articles of iron or steel in Europe, comprising 20% of total imports. The second position in the ranking was held by France ($X), with a 9.1% share of total imports. It was followed by Austria, with a 5.7% 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 Europe amounted to $X per ton, rising by 2.4% 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 18% against the previous year. The level of import peaked in 2022 and is likely to see steady growth in the near future.

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 Russia ($X per ton), while Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+6.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform