Kenya: Iron And Steel Market 2025

Iron And Steel Market Size in Kenya

For the sixth year in a row, the Kenyan iron and steel market recorded decline in sales value, which decreased by -4.4% to $X in 2021. Overall, consumption recorded a dramatic shrinkage. As a result, consumption attained the peak level of $X. From 2016 to 2021, the growth of the market failed to regain momentum.

Iron And Steel Exports

Exports from Kenya

In 2021, overseas shipments of iron and steel decreased by -10.5% to X tons for the first time since 2018, thus ending a two-year rising trend. Over the period under review, exports continue to indicate a abrupt slump. The most prominent rate of growth was recorded in 2016 when exports increased by 111%. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, iron and steel exports expanded remarkably to $X in 2021. In general, exports showed a deep slump. The growth pace was the most rapid in 2016 when exports increased by 84% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Burundi (X tons) was the main destination for iron and steel exports from Kenya, accounting for a 71% share of total exports. Moreover, iron and steel exports to Burundi exceeded the volume sent to the second major destination, India (X tons), fourfold. Uganda (X tons) ranked third in terms of total exports with a 5.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Burundi stood at +6.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+2.4% per year) and Uganda (-3.0% per year).

In value terms, India ($X) remains the key foreign market for iron and steel exports from Kenya, comprising 62% of total exports. The second position in the ranking was taken by Burundi ($X), with a 26% share of total exports. It was followed by Tanzania, with a 7.4% share.

From 2012 to 2021, the average annual growth rate of value to India amounted to +15.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Burundi (-2.7% per year) and Tanzania (+21.3% per year).

Export Prices by Country

In 2021, the average iron and steel export price amounted to $X per ton, rising by 18% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of 40% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to Democratic Republic of the Congo ($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 India (+13.2%), while the prices for the other major destinations experienced mixed trend patterns.

Iron And Steel Imports

Imports into Kenya

In 2021, supplies from abroad of iron and steel decreased by -2.7% to X tons, falling for the fifth consecutive year after two years of growth. Over the period under review, imports saw a deep slump. The growth pace was the most rapid in 2015 when imports increased by 599%. Over the period under review, imports attained the peak figure at X tons in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, iron and steel imports dropped to $X in 2021. Overall, imports showed a dramatic shrinkage. The most prominent rate of growth was recorded in 2015 when imports increased by 511%. As a result, imports attained the peak of $X. From 2016 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, South Africa (X tons) constituted the largest supplier of iron and steel to Kenya, with a 86% share of total imports. Moreover, iron and steel imports from South Africa exceeded the figures recorded by the second-largest supplier, India (X tons), sevenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from South Africa amounted to -19.7%.

In value terms, the largest iron and steel suppliers to Kenya were South Africa ($X) and India ($X).

India, with a CAGR of -13.3%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review.

Import Prices by Country

In 2021, the average iron and steel import price amounted to $X per ton, which is down by -3.8% against the previous year. Over the period under review, the import price showed a slight curtailment. The pace of growth was the most pronounced in 2017 an increase of 46%. The import price peaked at $X per ton in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

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 India ($X per ton), while the price for South Africa amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+99.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform