Norway: Market for Forged Bars Of Stainless Steel 2024

Market Size for Forged Bars Of Stainless Steel in Norway

In 2022, the Norwegian forged stainless steel bar market increased by X% to $X for the first time since 2017, thus ending a four-year declining trend. Over the period under review, consumption, however, continues to indicate a pronounced shrinkage. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market failed to regain momentum.

Production of Forged Bars Of Stainless Steel in Norway

In value terms, forged stainless steel bar production fell to $X in 2022 estimated in export price. In general, production saw a mild slump. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2022, production growth failed to regain momentum.

Exports of Forged Bars Of Stainless Steel

Exports from Norway

After two years of growth, overseas shipments of forged bars of stainless steel decreased by X% to X tons in 2022. Over the period under review, exports showed a abrupt slump. The pace of growth was the most pronounced in 2017 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2021, and then reduced remarkably in the following year.

In value terms, forged stainless steel bar exports declined sharply to $X in 2022. Overall, exports showed a perceptible setback. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, the exports reached the peak of $X, and then declined dramatically in the following year.

Exports by Country

Sweden (X tons), the UK (X tons) and Germany (X tons) were the main destinations of forged stainless steel bar exports from Norway, together accounting for X% of total exports. Denmark, Estonia, Italy, Qatar and the Czech Republic lagged somewhat behind, together accounting for a further X%.

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

In value terms, Sweden ($X) emerged as the key foreign market for forged bars of stainless steel exports from Norway, comprising X% of total exports. The second position in the ranking was taken by the UK ($X), with a X% share of total exports. It was followed by Qatar, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Sweden stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (X% per year) and Qatar (X% per year).

Export Prices by Country

The average forged stainless steel bar export price stood at $X per ton in 2022, rising by X% against the previous year. In general, export price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, forged stainless steel bar export price increased by X% against 2017 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Qatar ($X per ton), while the average price for exports to the UK ($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 Estonia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Forged Bars Of Stainless Steel

Imports into Norway

In 2022, the amount of forged bars of stainless steel imported into Norway skyrocketed to X tons, growing by X% on 2021. Overall, imports, however, continue to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2018 when imports increased by X%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, forged stainless steel bar imports skyrocketed to $X in 2022. In general, imports, however, continue to indicate a perceptible decrease. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Sweden (X tons), Germany (X tons) and Italy (X tons) were the main suppliers of forged stainless steel bar imports to Norway, together accounting for X% of total imports. Spain, the UK, Denmark, India, Poland and Latvia lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest forged stainless steel bar suppliers to Norway were Sweden ($X), Italy ($X) and the UK ($X), together accounting for X% of total imports. Germany, Spain, Denmark, India, Poland and Latvia lagged somewhat behind, together comprising a further X%.

In terms of the main suppliers, India, with a CAGR of X%, recorded the highest rates of growth with regard to 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 forged stainless steel bar import price stood at $X per ton in 2022, growing by X% against the previous year. Over the period under review, import price indicated a buoyant increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, forged stainless steel bar import price increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 when the average import price increased by X% against the previous year. Over the period under review, average import prices attained the peak figure in 2022 and is expected to retain growth in the near future.

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 the UK ($X per ton), while the price for Latvia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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