Austria: Iron And Steel Market 2024

Iron And Steel Market Size in Austria

After three years of decline, the Austrian iron and steel market increased by 11% to $X in 2021. Over the period under review, consumption, however, recorded a relatively flat trend pattern. Iron and steel consumption peaked at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Iron And Steel Production in Austria

In value terms, iron and steel production rose markedly to $X in 2021 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the production volume increased by 37% against the previous year. Iron and steel production peaked at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

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Iron And Steel Exports

Exports from Austria

In 2021, shipments abroad of iron and steel decreased by -27.7% to X tons, falling for the fourth year in a row after two years of growth. Overall, exports continue to indicate a deep setback. The growth pace was the most rapid in 2017 when exports increased by 66%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, iron and steel exports reduced notably to $X in 2021. In general, exports showed a abrupt decline. The most prominent rate of growth was recorded in 2017 with an increase of 117%. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X tons), Italy (X tons) and the Czech Republic (X tons) were the main destinations of iron and steel exports from Austria, together accounting for 98% of total exports.

From 2012 to 2021, the biggest increases were recorded for the Czech Republic (with a CAGR of +16.6%), while shipments for the other leaders experienced a decline.

In value terms, Germany ($X) remains the key foreign market for iron and steel exports from Austria, comprising 70% of total exports. The second position in the ranking was taken by the Czech Republic ($X), with a 21% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Germany stood at -1.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Czech Republic (+51.2% per year) and Italy (-31.4% per year).

Export Prices by Country

In 2021, the average iron and steel export price amounted to $X per ton, growing by 15% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average export price increased by 31% against the previous year. Over the period under review, the average export prices reached the maximum in 2021 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Italy ($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 the Czech Republic (+29.6%), while the prices for the other major destinations experienced mixed trend patterns.

Iron And Steel Imports

Imports into Austria

In 2021, approx. X tons of iron and steel were imported into Austria; with a decrease of -29.5% on the year before. Over the period under review, imports saw a noticeable decrease. The most prominent rate of growth was recorded in 2015 when imports increased by 145%. Over the period under review, imports reached the maximum at X tons in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, iron and steel imports expanded markedly to $X in 2021. In general, imports showed a perceptible setback. The growth pace was the most rapid in 2019 when imports increased by 50% against the previous year. Over the period under review, imports reached the maximum at $X in 2015; however, from 2016 to 2021, imports failed to regain momentum.

Imports by Country

Italy (X tons), Germany (X tons) and the Czech Republic (X tons) were the main suppliers of iron and steel imports to Austria, together accounting for 97% of total imports.

From 2012 to 2021, the biggest increases were recorded for Italy (with a CAGR of +16.9%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Italy ($X), Germany ($X) and the Czech Republic ($X) appeared to be the largest iron and steel suppliers to Austria, together comprising 95% of total imports.

Italy, with a CAGR of +14.4%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average iron and steel import price stood at $X per ton in 2021, growing by 50% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of 66% against the previous year. Over the period under review, average import prices hit record highs in 2021 and is expected to retain growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Czech Republic (+8.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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