Ireland: Stainless Steel Angle Market 2024

Stainless Steel Angle Market Size in Ireland

In 2021, the Irish stainless steel angle market decreased by -43.7% to $X for the first time since 2015, thus ending a five-year rising trend. Over the period under review, the total consumption indicated a notable expansion from 2012 to 2021: its value increased at an average annual rate of +2.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Stainless steel angle consumption peaked at $X in 2020, and then shrank notably in the following year.

Stainless Steel Angle Exports

Exports from Ireland

In 2021, overseas shipments of angles, shapes and sections of stainless steel or other alloy steel were finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. Overall, exports posted a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, stainless steel angle exports surged to $X in 2021. In general, exports posted a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The UK (X tons) was the main destination for stainless steel angle exports from Ireland, accounting for a 81% share of total exports. Moreover, stainless steel angle exports to the UK exceeded the volume sent to the second major destination, Vietnam (X tons), fivefold.

From 2012 to 2021, the average annual growth rate of volume to the UK amounted to +27.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+29.3% per year) and the United States (+35.5% per year).

In value terms, the UK ($X), Vietnam ($X) and the United States ($X) appeared to be the largest markets for stainless steel angle exported from Ireland worldwide, together comprising 98% of total exports.

Among the main countries of destination, the UK, with a CAGR of +27.9%, saw 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 stainless steel angle export price stood at $X per ton in 2021, waning by -27.1% against the previous year. Overall, the export price saw a pronounced downturn. The growth pace was the most rapid in 2014 an increase of 105%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to the UK ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+0.3%), while the prices for the other major destinations experienced a decline.

Stainless Steel Angle Imports

Imports into Ireland

In 2021, overseas purchases of angles, shapes and sections of stainless steel or other alloy steel decreased by -49.8% to X tons for the first time since 2018, thus ending a two-year rising trend. In general, imports, however, recorded a pronounced increase. The pace of growth was the most pronounced in 2013 with an increase of 73%. Imports peaked at X tons in 2020, and then declined rapidly in the following year.

In value terms, stainless steel angle imports rose remarkably to $X in 2021. Overall, total imports indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +6.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +81.6% against 2017 indices. The pace of growth was the most pronounced in 2018 when imports increased by 28%. Imports peaked in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, the UK (X tons) constituted the largest stainless steel angle supplier to Ireland, accounting for a 69% share of total imports. Moreover, stainless steel angle imports from the UK exceeded the figures recorded by the second-largest supplier, India (X tons), sixfold. Italy (X tons) ranked third in terms of total imports with a 5.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the UK amounted to +6.2%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+7.2% per year) and Italy (+2.9% per year).

In value terms, the UK ($X) constituted the largest supplier of angles, shapes and sections of stainless steel or other alloy steel to Ireland, comprising 71% of total imports. The second position in the ranking was taken by India ($X), with a 6.1% share of total imports. It was followed by China, with a 5% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the UK amounted to +16.7%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+14.2% per year) and China (+15.0% per year).

Import Prices by Country

The average stainless steel angle import price stood at $X per ton in 2021, with an increase of 128% against the previous year. Over the period under review, the import price continues to indicate a notable increase. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was France ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+9.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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