United Kingdom: Iron Angle Market 2024

Iron Angle Market Size in the UK

In 2021, the UK iron angle market increased by 36% to $X for the first time since 2017, thus ending a three-year declining trend. Overall, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Iron Angle Production in the UK

In value terms, iron angle production fell to $X in 2021 estimated in export price. Overall, production continues to indicate a perceptible decline. The pace of growth appeared the most rapid in 2020 when the production volume increased by 30% against the previous year. Iron angle production peaked at $X in 2017; however, from 2018 to 2021, production failed to regain momentum.

Iron Angle Exports

Exports from the UK

Iron angle exports from the UK dropped significantly to X tons in 2021, shrinking by -32.8% against 2020. Over the period under review, exports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2020 when exports increased by 49%. Over the period under review, the exports attained the maximum at X tons in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, iron angle exports dropped to $X in 2021. Overall, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when exports increased by 23%. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Ireland (X tons) was the main destination for iron angle exports from the UK, with a 39% share of total exports. Moreover, iron angle exports to Ireland exceeded the volume sent to the second major destination, Turkey (X tons), twofold. Canada (X tons) ranked third in terms of total exports with a 12% share.

From 2012 to 2021, the average annual growth rate of volume to Ireland stood at +11.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+48.6% per year) and Canada (+32.1% per year).

In value terms, Ireland ($X) remains the key foreign market for angles, shapes and sections (of iron or non-alloy steel) exports from the UK, comprising 38% of total exports. The second position in the ranking was taken by Turkey ($X), with a 16% share of total exports. It was followed by Canada, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Ireland totaled +9.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+43.7% per year) and Canada (+23.6% per year).

Export Prices by Country

In 2021, the average iron angle export price amounted to $X per ton, jumping by 41% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to France (+3.8%), while the prices for the other major destinations experienced more modest paces of growth.

Iron Angle Imports

Imports into the UK

In 2021, overseas purchases of angles, shapes and sections (of iron or non-alloy steel) increased by 63% to X tons for the first time since 2018, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +2.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports attained the peak figure at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, iron angle imports soared to $X in 2021. In general, total imports indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +3.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Spain (X tons) constituted the largest supplier of iron angle to the UK, with a 57% share of total imports. Moreover, iron angle imports from Spain exceeded the figures recorded by the second-largest supplier, Germany (X tons), threefold. Turkey (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2021, the average annual growth rate of volume from Spain totaled +2.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+2.6% per year) and Turkey (+8.0% per year).

In value terms, Spain ($X) constituted the largest supplier of angles, shapes and sections (of iron or non-alloy steel) to the UK, comprising 55% of total imports. The second position in the ranking was held by Germany ($X), with an 18% share of total imports. It was followed by Turkey, with a 12% share.

From 2012 to 2021, the average annual growth rate of value from Spain totaled +2.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+3.4% per year) and Turkey (+8.2% per year).

Import Prices by Country

In 2021, the average iron angle import price amounted to $X per ton, with an increase of 54% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Luxembourg ($X per ton) and Germany ($X per ton), while the price for France ($X per ton) and Spain ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Luxembourg (+2.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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