Finland: Steel Railway Material Market 2025

Steel Railway Material Market Size in Finland

In 2022, the Finnish steel railway material market decreased by -27.3% to $X for the first time since 2019, thus ending a two-year rising trend. Over the period under review, consumption showed a relatively flat trend pattern. Steel railway material consumption peaked at $X in 2021, and then declined notably in the following year.

Steel Railway Material Production in Finland

In value terms, steel railway material production shrank slightly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a abrupt contraction. The pace of growth was the most pronounced in 2013 with an increase of 21%. Over the period under review, production reached the peak level at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Steel Railway Material Exports

Exports from Finland

Steel railway material exports from Finland shrank remarkably to X tons in 2022, falling by -65.7% against the previous year's figure. Over the period under review, exports recorded a sharp descent. The most prominent rate of growth was recorded in 2016 when exports increased by 66% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, steel railway material exports declined sharply to $X in 2022. In general, exports saw a abrupt downturn. The pace of growth was the most pronounced in 2021 when exports increased by 43%. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

China (X tons) was the main destination for steel railway material exports from Finland, with a 78% share of total exports. Moreover, steel railway material exports to China exceeded the volume sent to the second major destination, India (X tons), sixfold. Estonia (X tons) ranked third in terms of total exports with a 3.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China totaled -6.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+254.0% per year) and Estonia (-31.3% per year).

In value terms, China ($X) emerged as the key foreign market for railway material of steel exports from Finland, comprising 55% of total exports. The second position in the ranking was taken by India ($X), with a 21% share of total exports. It was followed by Norway, with a 3.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China totaled +7.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+255.4% per year) and Norway (-16.2% per year).

Export Prices by Country

The average steel railway material export price stood at $X per ton in 2022, jumping by 53% against the previous year. Overall, export price indicated a buoyant expansion from 2012 to 2022: its price increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, steel railway material export price increased by +113.2% against 2020 indices. 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 destination: amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to Estonia ($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 China (+15.7%), while the prices for the other major destinations experienced more modest paces of growth.

Steel Railway Material Imports

Imports into Finland

After two years of growth, supplies from abroad of railway material of steel decreased by -46% to X tons in 2022. Overall, imports showed a pronounced curtailment. The pace of growth appeared the most rapid in 2018 with an increase of 172% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, steel railway material imports reduced rapidly to $X in 2022. Over the period under review, imports, however, enjoyed temperate growth. The pace of growth appeared the most rapid in 2016 with an increase of 78% against the previous year. Imports peaked at $X in 2021, and then reduced sharply in the following year.

Imports by Country

Spain (X tons), Germany (X tons) and Poland (X tons) were the main suppliers of steel railway material imports to Finland, with a combined 54% share of total imports. Luxembourg, Sweden, Austria, China, the UK and France lagged somewhat behind, together accounting for a further 37%.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +124.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Sweden ($X) and Poland ($X) were the largest steel railway material suppliers to Finland, together comprising 55% of total imports. Spain, Austria, Luxembourg, France, China and the UK lagged somewhat behind, together comprising a further 39%.

Among the main suppliers, China, with a CAGR of +104.2%, saw 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

The average steel railway material import price stood at $X per ton in 2022, rising by 51% against the previous year. In general, the import price saw a resilient increase. The growth pace was the most rapid in 2017 an increase of 87%. The import price peaked in 2022 and is likely to continue growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was France ($X per ton), while the price for the UK ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+10.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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