Luxembourg: Market for Articles Of Iron Or Steel 2025

Market Size for Articles Of Iron Or Steel in Luxembourg

In 2022, the Luxembourg steel and iron articles market increased by 24% to $X, rising for the second consecutive year after two years of decline. In general, consumption continues to indicate a remarkable increase. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Articles Of Iron Or Steel in Luxembourg

In value terms, steel and iron articles production dropped remarkably to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate significant growth. The most prominent rate of growth was recorded in 2018 when the production volume increased by 181% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Exports of Articles Of Iron Or Steel

Exports from Luxembourg

In 2022, exports of articles of iron or steel from Luxembourg fell to X tons, waning by -6% on 2021. Over the period under review, total exports indicated noticeable growth from 2012 to 2022: its volume increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +15.8% against 2020 indices. The most prominent rate of growth was recorded in 2014 with an increase of 58% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, steel and iron articles exports reduced modestly to $X in 2022. In general, total exports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +23.7% against 2020 indices. The growth pace was the most rapid in 2021 when exports increased by 29%. As a result, the exports reached the peak of $X, and then fell slightly in the following year.

Exports by Country

France (X tons), Belgium (X tons) and Vietnam (X tons) were the main destinations of steel and iron articles exports from Luxembourg, together comprising 82% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Vietnam (with a CAGR of +155.5%), while the other leaders experienced more modest paces of growth.

In value terms, France ($X), Belgium ($X) and Germany ($X) appeared to be the largest markets for steel and iron articles exported from Luxembourg worldwide, together comprising 72% of total exports. The Netherlands, Vietnam, China, South Korea and the Czech Republic lagged somewhat behind, together accounting for a further 11%.

Vietnam, with a CAGR of +108.2%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average steel and iron articles export price stood at $X per ton in 2022, with an increase of 1.8% against the previous year. Over the last decade, it increased at an average annual rate of +1.0%. The pace of growth appeared the most rapid in 2020 an increase of 25%. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, 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 the Netherlands ($X per ton), while the average price for exports to Vietnam ($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 the Netherlands (+16.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Articles Of Iron Or Steel

Imports into Luxembourg

In 2022, approx. X tons of articles of iron or steel were imported into Luxembourg; with an increase of 15% on the previous year. The total import volume increased at an average annual rate of +5.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 26%. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, steel and iron articles imports rose remarkably to $X in 2022. Over the period under review, total imports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +33.0% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 25%. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Germany (X tons) constituted the largest steel and iron articles supplier to Luxembourg, with a 42% share of total imports. Moreover, steel and iron articles imports from Germany exceeded the figures recorded by the second-largest supplier, Belgium (X tons), threefold. The third position in this ranking was taken by France (X tons), with a 12% share.

From 2012 to 2022, the average annual growth rate of volume from Germany stood at +3.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+11.0% per year) and France (+5.2% per year).

In value terms, the largest steel and iron articles suppliers to Luxembourg were Germany ($X), France ($X) and Belgium ($X), with a combined 64% share of total imports. The Netherlands, the Czech Republic, Poland, Italy and China lagged somewhat behind, together accounting for a further 21%.

In terms of the main suppliers, the Netherlands, with a CAGR of +18.0%, saw the highest growth rate of 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 and iron articles import price stood at $X per ton in 2022, with a decrease of -7.4% against the previous year. In general, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 15%. As a result, import price reached the peak level of $X per ton, and then declined in the following year.

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 China ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+5.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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