Benelux: Iron And Steel Market 2024

Iron And Steel Market Size in Benelux

In 2021, after two years of decline, there was significant growth in the Benelux iron and steel market, when its value increased by 18% to $X. The market value increased at an average annual rate of +1.9% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market remained at a somewhat lower figure.

Iron And Steel Production in Benelux

In value terms, iron and steel production skyrocketed to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.2% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 with an increase of 30%. Over the period under review, production attained the maximum level in 2021 and is likely to see steady growth in the near future.

Iron And Steel Exports

Exports in Benelux

In 2021, shipments abroad of iron and steel increased by 4.9% to X tons, rising for the second consecutive year after two years of decline. Overall, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 196%. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, iron and steel exports surged to $X in 2021. Over the period under review, exports enjoyed mild growth. The pace of growth appeared the most rapid in 2020 with an increase of 96% against the previous year. The level of export peaked in 2021 and is expected to retain growth in the near future.

Exports by Country

In 2021, the Netherlands (X tons) represented the key exporter of iron and steel, mixing up 83% of total exports. It was distantly followed by Belgium (X tons), creating a 17% share of total exports.

The Netherlands was also the fastest-growing in terms of the iron and steel exports, with a CAGR of +5.8% from 2012 to 2021. Belgium (-10.9%) illustrated a downward trend over the same period. From 2012 to 2021, the share of the Netherlands increased by +35 percentage points.

In value terms, the Netherlands ($X) remains the largest iron and steel supplier in Benelux, comprising 85% of total exports. The second position in the ranking was taken by Belgium ($X), with a 14% share of total exports.

In the Netherlands, iron and steel exports increased at an average annual rate of +9.4% over the period from 2012-2021.

Export Prices by Country

The export price in Benelux stood at $X per ton in 2021, rising by 37% against the previous year. Export price indicated notable growth from 2012 to 2021: its price increased at an average annual rate of +2.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, iron and steel export price decreased by -9.6% against 2018 indices. The pace of growth appeared the most rapid in 2018 when the export price increased by 97%. As a result, the export price attained the peak level of $X per ton. From 2019 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while Belgium amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+3.4%).

Iron And Steel Imports

Imports in Benelux

In 2021, overseas purchases of iron and steel increased by 22% to X tons, rising for the fifth consecutive year after two years of decline. Over the period under review, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 30%. The volume of import peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, iron and steel imports surged to $X in 2021. In general, imports saw a mild expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, the Netherlands (X tons) represented the main importer of iron and steel, comprising 81% of total imports. It was distantly followed by Belgium (X tons), comprising a 19% share of total imports.

The Netherlands was also the fastest-growing in terms of the iron and steel imports, with a CAGR of +6.2% from 2012 to 2021. Belgium (-10.0%) illustrated a downward trend over the same period. From 2012 to 2021, the share of the Netherlands increased by +32 percentage points.

In value terms, the Netherlands ($X) constitutes the largest market for imported iron and steel in Benelux, comprising 81% of total imports. The second position in the ranking was taken by Belgium ($X), with an 18% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value in the Netherlands totaled +8.0%.

Import Prices by Country

The import price in Benelux stood at $X per ton in 2021, surging by 36% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.0%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was the Netherlands ($X per ton), while Belgium totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+1.8%).

Source: IndexBox Platform

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