Norway: Market for Articles Of Iron Or Steel 2025

Market Size for Articles Of Iron Or Steel in Norway

The Norwegian steel and iron articles market shrank to $X in 2022, which is down by -7.6% against the previous year. Over the period under review, consumption saw a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2021, and then dropped in the following year.

Production of Articles Of Iron Or Steel in Norway

In value terms, steel and iron articles production shrank rapidly to $X in 2022 estimated in export price. Overall, production continues to indicate a sharp decline. The most prominent rate of growth was recorded in 2019 when the production volume increased by 14% against the previous year. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Exports of Articles Of Iron Or Steel

Exports from Norway

In 2022, steel and iron articles exports from Norway reached X tons, surging by 4.7% on 2021. Over the period under review, total exports indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -0.9% against 2020 indices. The pace of growth appeared the most rapid in 2019 with an increase of 42%. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, steel and iron articles exports amounted to $X in 2022. Overall, total exports indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -9.8% against 2020 indices. The growth pace was the most rapid in 2013 when exports increased by 32% against the previous year. Over the period under review, the exports reached the maximum at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

Sweden (X tons), Denmark (X tons) and the UK (X tons) were the main destinations of steel and iron articles exports from Norway, together comprising 42% of total exports. Belgium, Iceland, Russia, Germany, Poland, Lithuania, Turkey and the Netherlands lagged somewhat behind, together accounting for a further 38%.

From 2012 to 2022, the biggest increases were recorded for Belgium (with a CAGR of +48.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the UK ($X), Denmark ($X) and Sweden ($X) appeared to be the largest markets for steel and iron articles exported from Norway worldwide, together comprising 37% of total exports. Russia, Belgium, Germany, Iceland, Poland, the Netherlands, Turkey and Lithuania lagged somewhat behind, together accounting for a further 18%.

Iceland, with a CAGR of +31.5%, 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

In 2022, the average steel and iron articles export price amounted to $X per ton, waning by -1.6% against the previous year. Over the period under review, the export price continues to indicate a perceptible downturn. The growth pace was the most rapid in 2016 an increase of 26% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2017 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Belgium ($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 Sweden (+0.1%), while the prices for the other major destinations experienced a decline.

Imports of Articles Of Iron Or Steel

Imports into Norway

Steel and iron articles imports into Norway shrank modestly to X tons in 2022, dropping by -2.4% against the previous year's figure. Overall, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 12% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, steel and iron articles imports reduced to $X in 2022. The total import value increased at an average annual rate of +1.4% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 18%. Over the period under review, imports attained the peak figure at $X in 2021, and then contracted modestly in the following year.

Imports by Country

Sweden (X tons), Germany (X tons) and China (X tons) were the main suppliers of steel and iron articles imports to Norway, together accounting for 45% of total imports. Denmark, Poland, Lithuania, the UK, Spain, Italy, Finland, the Czech Republic, the Netherlands and Latvia lagged somewhat behind, together comprising a further 44%.

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of +12.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest steel and iron articles suppliers to Norway were Sweden ($X), Germany ($X) and China ($X), with a combined 38% share of total imports. The UK, Denmark, Poland, Lithuania, Italy, the Netherlands, Spain, Finland, the Czech Republic and Latvia lagged somewhat behind, together comprising a further 47%.

Lithuania, with a CAGR of +13.9%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers 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, reducing by -2.3% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.6%. The most prominent rate of growth was recorded in 2013 an increase of 29% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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 Italy ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lithuania (+4.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :