Spain: Steel Railway Material Market 2024

Steel Railway Material Market Size in Spain

In 2022, the Spanish steel railway material market decreased by -0.8% to $X, falling for the second consecutive year after two years of growth. Over the period under review, consumption saw a deep downturn. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Steel Railway Material Production in Spain

In value terms, steel railway material production stood at $X in 2022 estimated in export price. Overall, production saw a pronounced decline. The pace of growth was the most pronounced in 2013 with an increase of 2%. As a result, production attained the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

Steel Railway Material Exports

Exports from Spain

In 2022, approx. X tons of railway material of steel were exported from Spain; approximately mirroring the previous year's figure. The total export volume increased at an average annual rate of +5.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 with an increase of 44% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, steel railway material exports skyrocketed to $X in 2022. In general, total exports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +6.4% 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 +52.6% against 2019 indices. The most prominent rate of growth was recorded in 2017 when exports increased by 35%. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the near future.

Exports by Country

Portugal (X tons), Italy (X tons) and Finland (X tons) were the main destinations of steel railway material exports from Spain, with a combined 37% share of total exports. India, Estonia, Ireland, France, Mexico, Belgium, Brazil, Germany, Argentina and Turkey lagged somewhat behind, together accounting for a further 44%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Ireland (with a CAGR of +246.3%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for steel railway material exported from Spain were Portugal ($X), Belgium ($X) and Italy ($X), together comprising 33% of total exports. France, Finland, Ireland, Estonia, India, Germany, Turkey, Brazil, Mexico and Argentina lagged somewhat behind, together comprising a further 42%.

Ireland, with a CAGR of +151.6%, 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 railway material export price amounted to $X per ton, growing by 26% against the previous year. Overall, the export price showed a relatively flat trend pattern. 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 export markets. In 2022, amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to India ($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 Turkey (+7.9%), while the prices for the other major destinations experienced more modest paces of growth.

Steel Railway Material Imports

Imports into Spain

In 2022, purchases abroad of railway material of steel decreased by -1.5% to X tons, falling for the second year in a row after two years of growth. In general, total imports indicated a measured expansion from 2012 to 2022: its volume increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -21.1% against 2020 indices. The most prominent rate of growth was recorded in 2017 when imports increased by 59% against the previous year. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, steel railway material imports soared to $X in 2022. Overall, total imports indicated a tangible increase from 2012 to 2022: its value 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, imports decreased by -19.4% against 2020 indices. The most prominent rate of growth was recorded in 2017 when imports increased by 43%. Imports peaked at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, France (X tons) constituted the largest supplier of steel railway material to Spain, with a 34% share of total imports. Moreover, steel railway material imports from France exceeded the figures recorded by the second-largest supplier, Estonia (X tons), fourfold. The third position in this ranking was held by Luxembourg (X tons), with a 7.4% share.

From 2012 to 2022, the average annual growth rate of volume from France amounted to +3.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Estonia (+130.9% per year) and Luxembourg (+8.8% per year).

In value terms, the largest steel railway material suppliers to Spain were France ($X), China ($X) and Luxembourg ($X), together accounting for 35% of total imports. Germany, Austria, Estonia, Turkey, Portugal, Italy, the Czech Republic, the UK, Belgium and Poland lagged somewhat behind, together comprising a further 54%.

Estonia, with a CAGR of +115.3%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average steel railway material import price amounted to $X per ton, surging by 19% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 20%. The import price peaked in 2022 and is likely to continue growth in the immediate term.

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 Germany ($X per ton), while the price for France ($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 UK (+13.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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