Europe: Hot-Rolled Steel Products Market 2024

Hot-Rolled Steel Products Market Size in Europe

The Europe hot-rolled steel products market was finally on the rise to reach $X in 2021, after two years of decline. The market value increased at an average annual rate of +1.1% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Hot-Rolled Steel Products Production in Europe

In value terms, hot-rolled steel products production expanded rapidly to $X in 2021 estimated in export price. Overall, production, however, recorded a mild shrinkage. The growth pace was the most rapid in 2017 when the production volume increased by 42%. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Hot-Rolled Steel Products Exports

Exports in Europe

In 2021, after three years of decline, there was significant growth in overseas shipments of flat-rolled products of iron or steel (not further worked than hot-rolled), when their volume increased by 17% to X tons. In general, exports showed a relatively flat trend pattern. Over the period under review, the exports reached the maximum at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, hot-rolled steel products exports soared to $X in 2021. Total exports indicated a slight expansion from 2012 to 2021: its value increased at an average annual rate of +1.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The biggest shipments were from Russia (X tons), Belgium (X tons), Germany (X tons), Ukraine (X tons), France (X tons), the Netherlands (X tons), Italy (X tons), Slovakia (X tons), Sweden (X tons), Austria (X tons), Romania (X tons) and Spain (X tons), together recording 86% of total export.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Sweden (with a CAGR of +3.8%), while the other leaders experienced more modest paces of growth.

In value terms, the largest hot-rolled steel products supplying countries in Europe were Belgium ($X), Russia ($X) and Germany ($X), together accounting for 36% of total exports. These countries were followed by France, Ukraine, Sweden, the Netherlands, Italy, Slovakia, Austria, Spain and Romania, which together accounted for a further 48%.

In terms of the main exporting countries, Romania, with a CAGR of +7.3%, recorded the highest rates of growth with regard to 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

The export price in Europe stood at $X per ton in 2021, with an increase of 48% against the previous year. Export price indicated a mild increase from 2012 to 2021: its price increased at an average annual rate of +1.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Sweden ($X per ton), while Ukraine ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Romania (+3.7%), while the other leaders experienced more modest paces of growth.

Hot-Rolled Steel Products Imports

Imports in Europe

In 2021, supplies from abroad of flat-rolled products of iron or steel (not further worked than hot-rolled) was finally on the rise to reach X tons after two years of decline. The total import volume increased at an average annual rate of +2.6% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. Over the period under review, imports attained the maximum at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, hot-rolled steel products imports surged to $X in 2021. Total imports indicated temperate growth from 2012 to 2021: its value increased at an average annual rate of +4.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Italy (X tons), Germany (X tons), Poland (X tons), Spain (X tons), Belgium (X tons), France (X tons), the Netherlands (X tons), Russia (X tons), the Czech Republic (X tons), Portugal (X tons), Austria (X tons) and the UK (X tons) represented roughly 82% of total imports in 2021.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Portugal (with a CAGR of +7.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), Germany ($X) and France ($X) constituted the countries with the highest levels of imports in 2021, together accounting for 40% of total imports. Poland, Spain, Belgium, the Netherlands, the Czech Republic, Russia, Austria, Portugal and the UK lagged somewhat behind, together comprising a further 41%.

Portugal, with a CAGR of +9.3%, recorded the highest rates of growth with regard to 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 Europe stood at $X per ton in 2021, jumping by 49% against the previous year. Import price indicated mild growth from 2012 to 2021: its price increased at an average annual rate of +1.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in France ($X per ton) and Germany ($X per ton), while Russia ($X per ton) and Portugal ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Czech Republic (+2.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform