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

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

For the third year in a row, the Europe market for welded and cold-formed sections of steel recorded growth in sales value, which increased by 22% to $X in 2022. In general, consumption, however, showed 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 Europe

In value terms, welded and cold-formed steel sections production expanded markedly to $X in 2022 estimated in export price. In general, production, however, continues to indicate a slight reduction. The growth pace was the most rapid in 2018 with an increase of 27% against the previous year. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Exports of Welded And Cold-Formed Sections Of Steel

Exports in Europe

In 2022, the amount of welded and cold-formed sections of steel exported in Europe reduced slightly to X tons, approximately equating 2021. Total exports indicated a prominent increase from 2012 to 2022: its volume increased at an average annual rate of +6.6% 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 +12.8% against 2018 indices. The growth pace was the most rapid in 2013 when exports increased by 39% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2021, and then shrank modestly in the following year.

In value terms, welded and cold-formed steel sections exports expanded modestly to $X in 2022. Total exports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +6.3% 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 +30.7% against 2020 indices. The growth pace was the most rapid in 2013 with an increase of 33% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to continue growth in years to come.

Exports by Country

The biggest shipments were from Germany (X tons), Spain (X tons) and Poland (X tons), together recording 51% of total export. Romania (X tons) ranks next in terms of the total exports with a 5.7% share, followed by Ireland (5.7%) and Bulgaria (4.7%). The following exporters - the UK (X tons), Russia (X tons), the Netherlands (X tons), Switzerland (X tons), North Macedonia (X tons), Italy (X tons) and Belgium (X tons) - together made up 22% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Bulgaria (with a CAGR of +34.5%), while the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), Germany ($X) and the UK ($X) appeared to be the countries with the highest levels of exports in 2022, together accounting for 42% of total exports. Switzerland, Spain, the Netherlands, Romania, Italy, Ireland, Bulgaria, North Macedonia, Russia and Belgium lagged somewhat behind, together accounting for a further 42%.

Bulgaria, with a CAGR of +33.9%, 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, picking up by 3.8% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 17%. Over the period under review, the export prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

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 Switzerland ($X per ton), while Bulgaria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+4.7%), while the other leaders experienced more modest paces of growth.

Imports of Welded And Cold-Formed Sections Of Steel

Imports in Europe

Welded and cold-formed steel sections imports soared to X tons in 2022, rising by 115% against the previous year's figure. Over the period under review, imports posted a prominent increase. 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 skyrocketed to $X in 2022. Total imports indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +4.7% 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 +76.1% against 2017 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Ireland was the main importer of welded and cold-formed sections of steel in Europe, with the volume of imports reaching X tons, which was approx. 45% of total imports in 2022. The UK (X tons) held the second position in the ranking, followed by France (X tons), Germany (X tons), Spain (X tons) and Denmark (X tons). All these countries together took near 33% share of total imports. The following importers - the Czech Republic (X tons), Italy (X tons), Portugal (X tons), Bulgaria (X tons) and Romania (X tons) - together made up 11% of total imports.

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%), the UK (+15.7%), 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 (+36 p.p.) and the UK (+3.4 p.p.) significantly strengthened its position in terms of the total imports, while Spain, Italy and Romania saw its share reduced by -4.1%, -4.5% and -4.9% 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 Europe were Germany ($X), Ireland ($X) and France ($X), with a combined 42% share of total imports.

Ireland, with a CAGR of +19.1%, recorded the highest rates of growth with regard to the value of imports, among 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 2022, with a decrease of -38.7% against the previous year. In general, the import price continues to indicate a perceptible reduction. The growth pace was the most rapid in 2021 when the import price increased by 44% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: 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