SADC: Market for Articles Of Iron Or Steel 2024

Market Size for Articles Of Iron Or Steel in SADC

The SADC steel and iron articles market reduced markedly to $X in 2022, waning by -30% against the previous year. Over the period under review, consumption, however, posted noticeable growth. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Production of Articles Of Iron Or Steel in SADC

In value terms, steel and iron articles production fell to $X in 2022 estimated in export price. The total production indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +2.5% against 2020 indices. The pace of growth was the most pronounced in 2017 with an increase of 36% 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 Articles Of Iron Or Steel

Exports in SADC

In 2022, overseas shipments of articles of iron or steel increased by 0.7% to X tons, rising for the second consecutive year after three years of decline. Total exports indicated a temperate expansion from 2012 to 2022: its volume increased at an average annual rate of +3.7% 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 +24.2% against 2020 indices. The growth pace was the most rapid in 2015 with an increase of 35% against the previous year. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, steel and iron articles exports expanded slightly to $X in 2022. Total exports indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +5.4% 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 +53.6% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 50% against the previous year. The level of export peaked at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

The shipments of the one major exporters of articles of iron or steel, namely South Africa, represented more than two-thirds of total export.

South Africa was also the fastest-growing in terms of the articles of iron or steel exports, with a CAGR of +4.4% from 2012 to 2022. South Africa (+6.6 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) also remains the largest steel and iron articles supplier in SADC.

From 2012 to 2022, the average annual growth rate of value in South Africa stood at +5.9%.

Export Prices by Country

In 2022, the export price in SADC amounted to $X per ton, increasing by 1.8% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.7%. The most prominent rate of growth was recorded in 2021 when the export price increased by 22% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2019; afterwards, it flattened through to 2022.

As there is only one major export destination, the average price level is determined by prices for South Africa.

From 2012 to 2022, the rate of growth in terms of prices for South Africa amounted to +1.5% per year.

Imports of Articles Of Iron Or Steel

Imports in SADC

In 2022, approx. X tons of articles of iron or steel were imported in SADC; reducing by -66.4% against the previous year. Over the period under review, imports, however, saw significant growth. The pace of growth appeared the most rapid in 2014 when imports increased by 2,109%. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, steel and iron articles imports shrank markedly to $X in 2022. In general, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by 49% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Mozambique (X tons) was the major importer of articles of iron or steel in SADC, constituting 98% of total import.

Mozambique was also the fastest-growing in terms of the articles of iron or steel imports, with a CAGR of +42.8% from 2012 to 2022. Mozambique (+36 p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mozambique ($X) constitutes the largest market for imported articles of iron or steel in SADC.

From 2012 to 2022, the average annual rate of growth in terms of value in Mozambique amounted to +7.0%.

Import Prices by Country

The import price in SADC stood at $X per ton in 2022, with an increase of 150% against the previous year. In general, the import price, however, saw a sharp downturn. The pace of growth appeared the most rapid in 2015 an increase of 32,918%. As a result, import price reached the peak level of $X per ton. From 2016 to 2022, the import prices remained at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for Mozambique.

From 2012 to 2022, the rate of growth in terms of prices for Mozambique amounted to -24.9% per year.

Source: IndexBox Platform