United Kingdom: Concrete Reinforcing Bar Market 2024

Concrete Reinforcing Bar Market Size in the UK

In 2022, the UK concrete reinforcing bar market increased by 7.1% to $X, rising for the third consecutive year after two years of decline. Overall, consumption, however, showed a perceptible reduction. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Concrete Reinforcing Bar Production in the UK

In value terms, concrete reinforcing bar production amounted to $X in 2022 estimated in export price. Over the period under review, production, however, saw a abrupt descent. The pace of growth was the most pronounced in 2017 when the production volume increased by 25%. Concrete reinforcing bar production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Concrete Reinforcing Bar Exports

Exports from the UK

In 2022, approx. X tons of concrete reinforcing bars were exported from the UK; waning by -10.4% against 2021 figures. Over the period under review, exports showed a abrupt downturn. The pace of growth appeared the most rapid in 2013 with an increase of 38% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, concrete reinforcing bar exports rose markedly to $X in 2022. In general, exports saw a abrupt descent. The most prominent rate of growth was recorded in 2014 when exports increased by 27% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Ireland (X tons) was the main destination for concrete reinforcing bar exports from the UK, with a 43% share of total exports. Moreover, concrete reinforcing bar exports to Ireland exceeded the volume sent to the second major destination, Turkey (X tons), fivefold. France (X tons) ranked third in terms of total exports with a 5.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Ireland stood at -12.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+78.0% per year) and France (-13.4% per year).

In value terms, Ireland ($X) remains the key foreign market for concrete reinforcing bars exports from the UK, comprising 41% of total exports. The second position in the ranking was taken by Turkey ($X), with a 7.7% share of total exports. It was followed by France, with a 7.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Ireland totaled -8.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+65.9% per year) and France (-9.5% per year).

Export Prices by Country

The average concrete reinforcing bar export price stood at $X per ton in 2022, with an increase of 25% against the previous year. Overall, export price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, concrete reinforcing bar export price increased by +91.2% against 2020 indices. The pace of growth appeared the most rapid in 2021 when the average export price increased by 53%. Over the period under review, the average export prices attained the peak figure in 2022 and is likely to see steady growth in years to come.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Italy ($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 the United States (+13.0%), while the prices for the other major destinations experienced more modest paces of growth.

Concrete Reinforcing Bar Imports

Imports into the UK

In 2022, purchases abroad of concrete reinforcing bars increased by 25% to X tons, rising for the second year in a row after two years of decline. In general, total imports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of +7.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +67.3% against 2020 indices. The growth pace was the most rapid in 2014 when imports increased by 62%. Over the period under review, imports attained the peak figure at X tons in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, concrete reinforcing bar imports skyrocketed to $X in 2022. Overall, imports continue to indicate a prominent increase. The pace of growth was the most pronounced in 2021 when imports increased by 90%. Imports peaked in 2022 and are likely to see steady growth in years to come.

Imports by Country

Portugal (X tons), Turkey (X tons) and France (X tons) were the main suppliers of concrete reinforcing bar imports to the UK, together comprising 56% of total imports. Algeria, Spain, Egypt, Belarus, Greece, India, the United Arab Emirates, Germany, Oman and Malaysia lagged somewhat behind, together accounting for a further 37%.

From 2012 to 2022, the biggest increases were recorded for Oman (with a CAGR of +1,479.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Portugal ($X), Turkey ($X) and Spain ($X) appeared to be the largest concrete reinforcing bar suppliers to the UK, with a combined 52% share of total imports. France, Algeria, Egypt, Greece, Belarus, Malaysia, India, the United Arab Emirates, Germany and Oman lagged somewhat behind, together comprising a further 38%.

Oman, with a CAGR of +1,445.0%, 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 concrete reinforcing bar import price amounted to $X per ton, jumping by 19% against the previous year. In general, import price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, concrete reinforcing bar import price increased by +69.8% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average import price increased by 43%. Over the period under review, average import prices reached the peak figure in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Malaysia ($X per ton), while the price for Oman ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Greece (+46.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :