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

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

The Finnish market for hot-rolled bars of high speed steel shrank to $X in 2022, waning by -3% against the previous year. In general, consumption, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the market value increased by 6%. Hot-rolled high speed steel bar consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

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

In value terms, hot-rolled high speed steel bar production declined to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 6.4% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Exports of Hot-Rolled Bars Of High Speed Steel

Exports from Finland

In 2022, the amount of hot-rolled bars of high speed steel exported from Finland contracted significantly to X tons, waning by -70.1% on the year before. Over the period under review, exports showed a deep setback. The pace of growth appeared the most rapid in 2020 when exports increased by 590%. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, hot-rolled high speed steel bar exports contracted rapidly to $X in 2022. Overall, exports, however, enjoyed a prominent expansion. The pace of growth appeared the most rapid in 2013 with an increase of 717%. Over the period under review, the exports attained the maximum at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Sweden (X kg), Norway (X kg) and the UK (X kg) were the main destinations of hot-rolled high speed steel bar exports from Finland, with a combined 83% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the UK (with a CAGR of +47.1%), while the other leaders experienced more modest paces of growth.

In value terms, Sweden ($X), Norway ($X) and Denmark ($X) were the largest markets for hot-rolled high speed steel bar exported from Finland worldwide, with a combined 90% share of total exports.

Among the main countries of destination, Sweden, with a CAGR of +53.2%, 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 average export price for hot-rolled bars of high speed steel stood at $X per ton in 2022, surging by 38% against the previous year. Over the period under review, the export price continues to indicate significant growth. The pace of growth was the most pronounced in 2013 when the average export price increased by 229%. Over the period under review, the average export prices reached the maximum at $X per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Sweden ($X per ton), while the average price for exports to the UK ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+22.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Hot-Rolled Bars Of High Speed Steel

Imports into Finland

In 2022, supplies from abroad of hot-rolled bars of high speed steel decreased by -49.5% to X tons, falling for the second consecutive year after two years of growth. In general, imports, however, showed a remarkable increase. The pace of growth appeared the most rapid in 2020 when imports increased by 207%. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, hot-rolled high speed steel bar imports dropped to $X in 2022. Overall, imports, however, saw noticeable growth. The most prominent rate of growth was recorded in 2017 with an increase of 126%. Imports peaked at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of hot-rolled high speed steel bar to Finland, accounting for a 48% share of total imports. Moreover, hot-rolled high speed steel bar imports from China exceeded the figures recorded by the second-largest supplier, Italy (X tons), twofold. The third position in this ranking was held by Austria (X tons), with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +188.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+36.3% per year) and Austria (+0.8% per year).

In value terms, Austria ($X) constituted the largest supplier of hot-rolled bars of high speed steel to Finland, comprising 51% of total imports. The second position in the ranking was taken by China ($X), with a 13% share of total imports. It was followed by Estonia, with an 11% share.

From 2012 to 2022, the average annual growth rate of value from Austria amounted to +1.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+104.5% per year) and Estonia (+58.8% per year).

Import Prices by Country

In 2022, the average import price for hot-rolled bars of high speed steel amounted to $X per ton, increasing by 79% against the previous year. Over the period under review, the import price, however, recorded a deep reduction. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Austria ($X per ton), while the price for Italy ($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 (+0.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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