Iran: Steel Railway Material Market 2025

Steel Railway Material Market Size in Iran

In 2022, the Iranian steel railway material market decreased by -67.3% to $X, falling for the sixth consecutive year after five years of growth. In general, consumption faced a dramatic downturn. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market remained at a lower figure.

Steel Railway Material Exports

Exports from Iran

In 2022, approx. X tons of railway material of steel were exported from Iran; which is down by -32.8% on the previous year. In general, exports, however, showed buoyant growth. The pace of growth appeared the most rapid in 2019 when exports increased by 154%. As a result, the exports reached the peak of X tons. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, steel railway material exports shrank markedly to $X in 2022. Over the period under review, exports showed a noticeable reduction. The growth pace was the most rapid in 2019 when exports increased by 30%. As a result, the exports reached the peak of $X. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Turkey (X tons) was the main destination for steel railway material exports from Iran, with a 71% share of total exports. Moreover, steel railway material exports to Turkey exceeded the volume sent to the second major destination, Pakistan (X tons), fourfold.

From 2012 to 2022, the average annual growth rate of volume to Turkey totaled +43.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Pakistan (-9.9% per year) and Armenia (+15.9% per year).

In value terms, Turkey ($X) remains the key foreign market for railway material of steel exports from Iran, comprising 75% of total exports. The second position in the ranking was taken by Pakistan ($X), with a 12% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Turkey stood at +14.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Pakistan (-19.8% per year) and Armenia (+30.0% per year).

Export Prices by Country

The average steel railway material export price stood at $X per ton in 2022, increasing by 9.2% against the previous year. Over the period under review, the export price, however, showed a deep setback. The most prominent rate of growth was recorded in 2020 when the average export price increased by 27% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the average price for exports to Pakistan ($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 Armenia (+12.1%), while the prices for the other major destinations experienced a decline.

Steel Railway Material Imports

Imports into Iran

In 2022, overseas purchases of railway material of steel decreased by -63% to X tons, falling for the sixth consecutive year after five years of growth. In general, imports faced a precipitous curtailment. The most prominent rate of growth was recorded in 2016 when imports increased by 176% against the previous year. As a result, imports reached the peak of X tons. From 2017 to 2022, the growth of imports failed to regain momentum.

In value terms, steel railway material imports dropped notably to $X in 2022. Over the period under review, imports showed a dramatic contraction. The pace of growth was the most pronounced in 2016 when imports increased by 136% against the previous year. As a result, imports reached the peak of $X. From 2017 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Ukraine (X tons) constituted the largest steel railway material supplier to Iran, accounting for a 48% share of total imports. Moreover, steel railway material imports from Ukraine exceeded the figures recorded by the second-largest supplier, Russia (X tons), twofold. Austria (X tons) ranked third in terms of total imports with an 8.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Ukraine stood at -10.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (+1.5% per year) and Austria (-27.2% per year).

In value terms, Ukraine ($X), Austria ($X) and Russia ($X) were the largest steel railway material suppliers to Iran, together comprising 74% of total imports. India, Turkey, the UK, China, Slovenia, Armenia and Italy lagged somewhat behind, together comprising a further 14%.

Among the main suppliers, the UK, with a CAGR of +12.1%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average steel railway material import price stood at $X per ton in 2022, shrinking by -12.8% against the previous year. Overall, the import price recorded a mild decline. The most prominent rate of growth was recorded in 2021 when the average import price increased by 31%. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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 Austria ($X per ton), while the price for Armenia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Armenia (+9.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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