Overview of the Global Market for Welded And Cold-Formed Sections Of Steel

Market Size for Welded And Cold-Formed Sections Of Steel

The global market for welded and cold-formed sections of steel rose rapidly to $X in 2022, increasing by 9.9% against the previous year. The market value increased at an average annual rate of +3.1% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the global market hit record highs in 2022 and is expected to retain growth in the near future.

Production of Welded And Cold-Formed Sections Of Steel

In value terms, welded and cold-formed steel sections production rose significantly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.0% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of 18%. Global production peaked in 2022 and is likely to see gradual growth in the near future.

Exports of Welded And Cold-Formed Sections Of Steel

Exports

In 2022, shipments abroad of welded and cold-formed sections of steel decreased by -1.1% to X tons, falling for the fifth consecutive year after two years of growth. Over the period under review, exports showed a slight decrease. The pace of growth was the most pronounced in 2017 when exports increased by 10% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the global exports remained at a lower figure.

In value terms, welded and cold-formed steel sections exports expanded modestly to $X in 2022. Overall, exports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 11% against the previous year. Over the period under review, the global exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X tons), Bahrain (X tons), Spain (X tons), Poland (X tons), the United States (X tons), China (X tons), the United Arab Emirates (X tons), Saudi Arabia (X tons), Romania (X tons), Ireland (X tons), India (X tons) and Jordan (X tons) represented roughly 71% of total exports in 2022. Bulgaria (X tons) took a little share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Jordan (with a CAGR of +50.5%), while the other global leaders experienced more modest paces of growth.

In value terms, Poland ($X), Germany ($X) and the United States ($X) constituted the countries with the highest levels of exports in 2022, with a combined 31% share of global exports. Spain, China, Bahrain, Romania, India, Ireland, the United Arab Emirates, Jordan, Bulgaria and Saudi Arabia lagged somewhat behind, together comprising a further 28%.

Jordan, with a CAGR of +56.5%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for welded and cold-formed sections of steel stood at $X per ton in 2022, growing by 5.5% against the previous year. Over the last decade, it increased at an average annual rate of +2.0%. The pace of growth appeared the most rapid in 2021 an increase of 20% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Poland ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+4.2%), while the other global leaders experienced more modest paces of growth.

Imports of Welded And Cold-Formed Sections Of Steel

Imports

After three years of decline, supplies from abroad of welded and cold-formed sections of steel increased by 53% to X tons in 2022. Overall, imports, however, saw a relatively flat trend pattern. Over the period under review, global imports reached the peak figure at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, welded and cold-formed steel sections imports soared to $X in 2022. Over the period under review, imports, however, showed a relatively flat trend pattern. Over the period under review, global imports hit record highs at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

Ireland represented the main importing country with an import of around X tons, which finished at 25% of total imports. It was distantly followed by Saudi Arabia (X tons), creating a 9.1% share of total imports. The following importers - the UK (X tons), France (X tons), Germany (X tons), South Korea (X tons), Spain (X tons), Canada (X tons), Iraq (X tons), Denmark (X tons), Nigeria (X tons), China (X tons) and the United Arab Emirates (X tons) - together made up 36% of total imports.

From 2012 to 2022, average annual rates of growth with regard to welded and cold-formed steel sections imports into Ireland stood at +28.3%. At the same time, Nigeria (+32.5%), Iraq (+21.1%), the UK (+15.7%), France (+9.7%), Germany (+8.8%), Denmark (+7.0%), Saudi Arabia (+3.6%) and Spain (+3.4%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing importer imported in the world, with a CAGR of +32.5% from 2012-2022. The United Arab Emirates experienced a relatively flat trend pattern. By contrast, China (-8.2%), Canada (-9.9%) and South Korea (-11.6%) illustrated a downward trend over the same period. While the share of Ireland (+23 p.p.), the UK (+3.3 p.p.), Nigeria (+2.8 p.p.), Saudi Arabia (+2.8 p.p.), Iraq (+2.6 p.p.), France (+2.6 p.p.), Germany (+2.3 p.p.) and Denmark (+1.5 p.p.) increased significantly in terms of the global imports from 2012-2022, the share of China (-3.3 p.p.), Canada (-5.9 p.p.) and South Korea (-9.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($X), Ireland ($X) and France ($X) constituted the countries with the highest levels of imports in 2022, together accounting for 24% of global imports. The UK, Saudi Arabia, Denmark, Iraq, Spain, China, Canada, South Korea, the United Arab Emirates and Nigeria lagged somewhat behind, together comprising a further 37%.

Iraq, with a CAGR of +27.6%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average import price for welded and cold-formed sections of steel amounted to $X per ton, falling by -21.6% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 25% against the previous year. As a result, import price reached the peak level of $X per ton, and then declined notably in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+13.3%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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