Europe: Market for Hot-Rolled Bars Of High Speed Steel 2024

Market Size for Hot-Rolled Bars Of High Speed Steel in Europe

The Europe market for hot-rolled bars of high speed steel dropped to $X in 2022, waning by -5.2% against the previous year. Overall, consumption continues to indicate a perceptible shrinkage. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Production of Hot-Rolled Bars Of High Speed Steel in Europe

In value terms, hot-rolled high speed steel bar production shrank to $X in 2022 estimated in export price. In general, production showed a perceptible decline. The pace of growth appeared the most rapid in 2018 with an increase of 36% against the previous year. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Exports of Hot-Rolled Bars Of High Speed Steel

Exports in Europe

In 2022, approx. X tons of hot-rolled bars of high speed steel were exported in Europe; shrinking by -9.3% against the previous year's figure. Overall, exports continue to indicate a mild reduction. The pace of growth was the most pronounced in 2021 when exports increased by 39% against the previous year. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, hot-rolled high speed steel bar exports surged to $X in 2022. Over the period under review, exports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 48% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The shipments of the four major exporters of hot-rolled bars of high speed steel, namely Austria, France, Sweden and Spain, represented more than two-thirds of total export. The Czech Republic (X tons) took the next position in the ranking, followed by Germany (X tons). All these countries together held near 16% share of total exports. Italy (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Spain (with a CAGR of +56.7%), while the other leaders experienced mixed trends in the exports figures.

In value terms, the largest hot-rolled high speed steel bar supplying countries in Europe were Austria ($X), France ($X) and Sweden ($X), with a combined 83% share of total exports. Germany, Spain, the Czech Republic and Italy lagged somewhat behind, together comprising a further 14%.

Spain, with a CAGR of +44.5%, recorded the highest growth rate of 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, picking up by 27% against the previous year. In general, the export price recorded a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+3.8%), while the other leaders experienced more modest paces of growth.

Imports of Hot-Rolled Bars Of High Speed Steel

Imports in Europe

Hot-rolled high speed steel bar imports dropped modestly to X tons in 2022, which is down by -4.9% on the year before. Total imports indicated slight growth from 2012 to 2022: its volume increased at an average annual rate of +1.5% 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 +38.3% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 45%. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, hot-rolled high speed steel bar imports rose significantly to $X in 2022. Over the period under review, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by 42% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

The countries with the highest levels of hot-rolled high speed steel bar imports in 2022 were Germany (X tons), Italy (X tons), Spain (X tons), Slovenia (X tons), France (X tons), Romania (X tons), Denmark (X tons), Portugal (X tons), the UK (X tons), Belgium (X tons) and the Czech Republic (X tons), together accounting for 87% of total import.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Romania (with a CAGR of +26.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constitutes the largest market for imported hot-rolled bars of high speed steel in Europe, comprising 31% of total imports. The second position in the ranking was held by France ($X), with an 11% share of total imports. It was followed by Italy, with an 11% share.

In Germany, hot-rolled high speed steel bar imports plunged by an average annual rate of -1.4% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: France (-3.4% per year) and Italy (+2.0% per year).

Import Prices by Country

In 2022, the import price in Europe amounted to $X per ton, rising by 18% against the previous year. In general, the import price, however, continues to indicate a pronounced setback. The growth pace was the most rapid in 2018 an increase of 38%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Germany ($X per ton), while Portugal ($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 Czech Republic (+7.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform