United Kingdom: Market for Hot-Rolled Round Bars Of Stainless Steel 2025

Market Size for Hot-Rolled Round Bars Of Stainless Steel in the UK

In 2021, the UK hot-rolled round stainless steel market decreased by -1.6% to $X, falling for the second year in a row after three years of growth. Overall, the total consumption indicated a notable increase from 2012 to 2021: its value increased at an average annual rate of +3.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -2.8% against 2019 indices. As a result, consumption reached the peak level of $X. From 2020 to 2021, the growth of the market failed to regain momentum.

Production of Hot-Rolled Round Bars Of Stainless Steel in the UK

In value terms, hot-rolled round stainless steel production contracted modestly to $X in 2021 estimated in export price. In general, the total production indicated a notable increase from 2012 to 2021: its value increased at an average annual rate of +2.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +70.2% against 2016 indices. The pace of growth appeared the most rapid in 2019 with an increase of 32%. Over the period under review, production hit record highs at $X in 2020, and then dropped modestly in the following year.

Exports of Hot-Rolled Round Bars Of Stainless Steel

Exports from the UK

In 2021, overseas shipments of hot-rolled round bars of stainless steel decreased by -33.5% to X tons, falling for the second consecutive year after three years of growth. Overall, exports recorded a abrupt decrease. The pace of growth appeared the most rapid in 2017 with an increase of 25%. The exports peaked at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, hot-rolled round stainless steel exports contracted to $X in 2021. Over the period under review, exports saw a deep contraction. The most prominent rate of growth was recorded in 2019 when exports increased by 31% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Germany (X tons) was the main destination for hot-rolled round stainless steel exports from the UK, accounting for a 23% share of total exports. Moreover, hot-rolled round stainless steel exports to Germany exceeded the volume sent to the second major destination, Italy (X tons), twofold. The third position in this ranking was taken by France (X tons), with an 8.2% share.

From 2012 to 2021, the average annual growth rate of volume to Germany amounted to +4.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (-5.1% per year) and France (-6.4% per year).

In value terms, the largest markets for hot-rolled round stainless steel exported from the UK were Germany ($X), Italy ($X) and China ($X), with a combined 57% share of total exports. France, Poland, the Netherlands, the United States, Sweden, the United Arab Emirates, Singapore, Ireland, Norway and India lagged somewhat behind, together accounting for a further 33%.

The United Arab Emirates, with a CAGR of +18.3%, saw 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 2021, the average hot-rolled round stainless steel export price amounted to $X per ton, jumping by 39% against the previous year. Over the last nine years, it increased at an average annual rate of +2.9%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to the United Arab Emirates ($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 Italy (+8.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Hot-Rolled Round Bars Of Stainless Steel

Imports into the UK

In 2021, purchases abroad of hot-rolled round bars of stainless steel decreased by -28% to X tons, falling for the second year in a row after three years of growth. In general, imports continue to indicate a noticeable slump. The most prominent rate of growth was recorded in 2017 when imports increased by 35% against the previous year. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, hot-rolled round stainless steel imports declined remarkably to $X in 2021. Overall, imports continue to indicate a pronounced curtailment. The growth pace was the most rapid in 2017 with an increase of 44%. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Germany (X tons) constituted the largest supplier of hot-rolled round stainless steel to the UK, accounting for a 36% share of total imports. Moreover, hot-rolled round stainless steel imports from Germany exceeded the figures recorded by the second-largest supplier, France (X tons), twofold. Spain (X tons) ranked third in terms of total imports with a 15% share.

From 2012 to 2021, the average annual growth rate of volume from Germany amounted to -5.1%. The remaining supplying countries recorded the following average annual rates of imports growth: France (-2.0% per year) and Spain (+0.2% per year).

In value terms, Germany ($X) constituted the largest supplier of hot-rolled round bars of stainless steel to the UK, comprising 37% of total imports. The second position in the ranking was taken by Sweden ($X), with a 13% share of total imports. It was followed by Spain, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany stood at -1.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (-2.6% per year) and Spain (+0.3% per year).

Import Prices by Country

In 2021, the average hot-rolled round stainless steel import price amounted to $X per ton, increasing by 5% against the previous year. In general, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by 16% against the previous year. Over the period under review, average import prices hit record highs in 2021 and is likely to see steady growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+3.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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