Ireland: Market for Raw Steel And Steel Semi-Finished Products 2025

Market Size for Raw Steel And Steel Semi-Finished Products in Ireland

In 2021, the Irish market for raw steel and steel semi-finished products decreased by -22.7% to $X, falling for the second year in a row after two years of growth. In general, consumption, however, recorded a prominent expansion. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Production of Raw Steel And Steel Semi-Finished Products in Ireland

In value terms, production of raw steel and steel semi-finished products contracted notably to $X in 2021 estimated in export price. Overall, production saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the production volume increased by 35% against the previous year. Production of peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Exports of Raw Steel And Steel Semi-Finished Products

Exports from Ireland

In 2021, approx. X tons of raw steel and steel semi-finished products were exported from Ireland; with an increase of 120% on the previous year. Over the period under review, exports recorded a significant increase. The growth pace was the most rapid in 2014 with an increase of 439%. The exports peaked in 2021 and are likely to see gradual growth in the near future.

In value terms, exports of raw steel and steel semi-finished products soared to $X in 2021. Overall, exports enjoyed a significant increase. The pace of growth was the most pronounced in 2017 when exports increased by 183%. Over the period under review, the exports of attained the maximum in 2021 and are likely to see steady growth in the near future.

Exports by Country

The UK (X tons) was the main destination for exports of raw steel and steel semi-finished products from Ireland, with a 87% share of total exports. Moreover, exports of raw steel and steel semi-finished products to the UK exceeded the volume sent to the second major destination, France (X tons), eightfold.

From 2012 to 2021, the average annual growth rate of volume to the UK totaled +60.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+262.8% per year) and the United States (+12.8% per year).

In value terms, the UK ($X) remains the key foreign market for raw steel and steel semi-finished products exports from Ireland, comprising 64% of total exports. The second position in the ranking was taken by France ($X), with an 18% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to the UK totaled +66.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+227.6% per year) and the United States (+14.2% per year).

Export Prices by Country

In 2021, the average export price for raw steel and steel semi-finished products amounted to $X per ton, with a decrease of -7.5% against the previous year. Overall, the export price continues to indicate a abrupt descent. The pace of growth was the most pronounced in 2018 when the average export price increased by 107% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was France ($X per ton), while the average price for exports to the UK ($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 (+3.8%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Raw Steel And Steel Semi-Finished Products

Imports into Ireland

In 2021, purchases abroad of raw steel and steel semi-finished products decreased by -49.2% to X tons, falling for the third consecutive year after seven years of growth. Overall, imports recorded a mild decline. The pace of growth appeared the most rapid in 2013 with an increase of 58%. Over the period under review, imports of reached the maximum at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, imports of raw steel and steel semi-finished products fell dramatically to $X in 2021. Over the period under review, total imports indicated a modest increase from 2012 to 2021: its value increased at an average annual rate of +1.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -51.5% against 2019 indices. The pace of growth was the most pronounced in 2013 with an increase of 37%. Over the period under review, imports of reached the peak figure at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, the UK (X tons) constituted the largest supplier of raw steel and steel semi-finished products to Ireland, with a 48% share of total imports. Moreover, imports of raw steel and steel semi-finished products from the UK exceeded the figures recorded by the second-largest supplier, China (X tons), fivefold. Germany (X tons) ranked third in terms of total imports with an 8.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the UK totaled -1.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+58.7% per year) and Germany (+19.7% per year).

In value terms, the UK ($X) constituted the largest supplier of raw steel and steel semi-finished products to Ireland, comprising 45% of total imports. The second position in the ranking was taken by France ($X), with an 11% share of total imports. It was followed by Germany, with a 10% share.

From 2012 to 2021, the average annual growth rate of value from the UK amounted to -3.2%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+17.2% per year) and Germany (+17.0% per year).

Import Prices by Country

In 2021, the average import price for raw steel and steel semi-finished products amounted to $X per ton, picking up by 25% against the previous year. Overall, import price indicated a temperate expansion from 2012 to 2021: its price increased at an average annual rate of +2.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, import price for raw steel and steel semi-finished products increased by +71.6% against 2017 indices. The most prominent rate of growth was recorded in 2019 an increase of 25% against the previous year. The import price peaked in 2021 and is likely to continue growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+45.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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