Belgium: Iron And Steel Market 2024

Iron And Steel Market Size in Belgium

In 2021, the Belgian iron and steel market was finally on the rise to reach $X after two years of decline. The market value increased at an average annual rate of +1.6% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Iron And Steel Production in Belgium

In value terms, iron and steel production surged to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.6% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Iron And Steel Exports

Exports from Belgium

In 2021, exports of iron and steel from Belgium reached X tons, increasing by 11% on 2020 figures. Over the period under review, exports, however, continue to indicate a abrupt downturn. The pace of growth appeared the most rapid in 2020 when exports increased by 43% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, iron and steel exports surged to $X in 2021. In general, exports, however, showed a abrupt decline. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

France (X tons), Germany (X tons) and Australia (X tons) were the main destinations of iron and steel exports from Belgium, with a combined 87% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Australia (with a CAGR of +406.2%), while the other leaders experienced mixed trend patterns.

In value terms, the largest markets for iron and steel exported from Belgium were France ($X), Germany ($X) and the Netherlands ($X), together comprising 85% of total exports. These countries were followed by Turkey, Spain and Australia, which together accounted for a further 6.8%.

Australia, with a CAGR of +314.3%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2021, the average iron and steel export price amounted to $X per ton, rising by 40% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Spain ($X per ton), while the average price for exports to Australia ($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 Netherlands (+1.7%), while the prices for the other major destinations experienced mixed trend patterns.

Iron And Steel Imports

Imports into Belgium

In 2021, the amount of iron and steel imported into Belgium soared to X tons, picking up by 29% on 2020. Over the period under review, imports, however, faced a abrupt downturn. The most prominent rate of growth was recorded in 2018 when imports increased by 100% against the previous year. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, iron and steel imports skyrocketed to $X in 2021. Overall, imports, however, showed a deep downturn. The growth pace was the most rapid in 2018 when imports increased by 89% against the previous year. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

Russia (X tons), Norway (X tons) and France (X tons) were the main suppliers of iron and steel imports to Belgium, with a combined 83% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by France (with a CAGR of +21.4%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the largest iron and steel suppliers to Belgium were Russia ($X), Norway ($X) and France ($X), together accounting for 83% of total imports.

In terms of the main suppliers, France, with a CAGR of +13.2%, recorded the highest rates of growth with regard to the value of imports, 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, surging by 33% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average import price increased by 38% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+36.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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