Europe: Cold-Rolled Steel Products Market 2024

Cold-Rolled Steel Products Market Size in Europe

The Europe cold-rolled steel products market shrank notably to $X in 2022, which is down by -80.1% against the previous year. Overall, consumption recorded a deep slump. The pace of growth was the most pronounced in 2021 with an increase of 10%. As a result, consumption attained the peak level of $X, and then dropped remarkably in the following year.

Cold-Rolled Steel Products Production in Europe

In value terms, cold-rolled steel products production dropped to $X in 2022 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 10%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Cold-Rolled Steel Products Exports

Exports in Europe

In 2022, overseas shipments of flat-rolled products of iron or steel (not further worked than cold-rolled) increased by 251% to X tons, rising for the second consecutive year after three years of decline. Over the period under review, exports posted prominent growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, cold-rolled steel products exports surged to $X in 2022. Overall, exports showed resilient growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Finland prevails in exports structure, reaching X tons, which was approx. 76% of total exports in 2022. It was distantly followed by Belgium (X tons), creating a 4.9% share of total exports. The following exporters - Germany (X tons), the Netherlands (X tons), Italy (X tons) and Russia (X tons) - together made up 10% of total exports.

Finland was also the fastest-growing in terms of the flat-rolled products of iron or steel (not further worked than cold-rolled) exports, with a CAGR of +49.2% from 2012 to 2022. The Netherlands and Belgium experienced a relatively flat trend pattern. Germany (-1.5%), Italy (-2.5%) and Russia (-5.9%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Finland increased by +71 percentage points.

In value terms, Finland ($X) emerged as the largest cold-rolled steel products supplier in Europe, comprising 65% of total exports. The second position in the ranking was taken by Belgium ($X), with a 6.8% share of total exports. It was followed by Germany, with a 5.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Finland amounted to +36.1%. In the other countries, the average annual rates were as follows: Belgium (+4.7% per year) and Germany (+1.8% per year).

Export Prices by Country

The export price in Europe stood at $X per ton in 2022, shrinking by -19.2% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 37% against the previous year. As a result, the export price attained the peak level of $X per ton, and then reduced rapidly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+7.2%), while the other leaders experienced more modest paces of growth.

Cold-Rolled Steel Products Imports

Imports in Europe

Cold-rolled steel products imports dropped to X tons in 2022, with a decrease of -9.1% compared with 2021 figures. The total import volume increased at an average annual rate of +1.4% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 18% against the previous year. As a result, imports reached the peak of X tons, and then declined in the following year.

In value terms, cold-rolled steel products imports soared to $X in 2022. Total imports indicated resilient growth 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 +89.5% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 63%. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Imports by Country

Germany (X tons), Italy (X tons), Belgium (X tons), the Netherlands (X tons), Poland (X tons), France (X tons), Spain (X tons), Russia (X tons) and the Czech Republic (X tons) represented roughly 78% of total imports in 2022. The following importers - the UK (X tons), Austria (X tons), Hungary (X tons) and Slovakia (X tons) - each accounted for a 7.7% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Russia (with a CAGR of +5.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Italy ($X) and the Netherlands ($X) were the countries with the highest levels of imports in 2022, together comprising 44% of total imports.

In terms of the main importing countries, Italy, with a CAGR of +8.2%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Europe amounted to $X per ton, jumping by 28% against the previous year. Import price indicated moderate growth from 2012 to 2022: its price increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cold-rolled steel products import price increased by +77.4% against 2020 indices. The growth pace was the most rapid in 2021 when the import price increased by 39%. Over the period under review, import prices hit record highs in 2022 and is expected to retain 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 Germany ($X per ton), while Russia ($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 UK (+5.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform