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Report Cuba - Iron and Steel - Market Analysis, Forecast, Size, Trends and Insights for 499$
Latest Report Update: Dec 9, 2022

Cuba - Iron and Steel - Market Analysis, Forecast, Size, Trends and Insights

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Cuba: Iron And Steel Market 2022

Iron And Steel Market Size in Cuba

In 2021, the Cuban iron and steel market decreased by -2.2% to $X for the first time since 2016, thus ending a four-year rising trend. Over the period under review, consumption, however, posted strong growth. Iron and steel consumption peaked at $X in 2020, and then declined modestly in the following year.

Iron And Steel Production in Cuba

In value terms, iron and steel production fell to $X in 2021 estimated in export price. In general, production, however, saw a remarkable increase. The pace of growth was the most pronounced in 2017 with an increase of 65% against the previous year. Over the period under review, production hit record highs at $X in 2020, and then reduced slightly in the following year.

Iron And Steel Exports

Exports from Cuba

In 2021, shipments abroad of iron and steel decreased by -16% to X tons, falling for the seventh consecutive year after three years of growth. In general, exports showed a dramatic decline. The growth pace was the most rapid in 2014 with an increase of 22%. As a result, the exports reached the peak of X tons. From 2015 to 2021, the growth of the exports failed to regain momentum.

In value terms, iron and steel exports plummeted to $X in 2021. Over the period under review, exports saw a sharp decline. The pace of growth appeared the most rapid in 2014 when exports increased by 31%. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

The Dominican Republic (X tons) was the main destination for iron and steel exports from Cuba, accounting for a approx. 100% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to the Dominican Republic stood at -26.8%.

In value terms, the Dominican Republic ($X) also remains the key foreign market for iron and steel exports from Cuba.

From 2012 to 2021, the average annual growth rate of value to the Dominican Republic totaled -27.6%.

Export Prices by Country

In 2021, the average iron and steel export price amounted to $X per ton, which is down by -3% against the previous year. In general, the export price showed a slight reduction. The most prominent rate of growth was recorded in 2014 when the average export price increased by 8%. The export price peaked at $X per ton in 2015; however, from 2016 to 2021, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for the Dominican Republic.

From 2012 to 2021, the rate of growth in terms of prices for the Dominican Republic amounted to -1.0% per year.

Iron And Steel Imports

Imports into Cuba

In 2021, overseas purchases of iron and steel decreased by -7.9% to X tons, falling for the fifth consecutive year after three years of growth. In general, imports faced a significant decrease. The most prominent rate of growth was recorded in 2014 with an increase of 71%. Imports peaked at X tons in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, iron and steel imports amounted to $X in 2021. Over the period under review, imports showed a sharp setback. The most prominent rate of growth was recorded in 2016 with an increase of 37% against the previous year. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, the Netherlands (X tons) constituted the largest supplier of iron and steel to Cuba, accounting for a 56% share of total imports. Moreover, iron and steel imports from the Netherlands exceeded the figures recorded by the second-largest supplier, China (X tons), twofold.

From 2012 to 2021, the average annual growth rate of volume from the Netherlands amounted to -27.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-29.4% per year) and Spain (-30.4% per year).

In value terms, the largest iron and steel suppliers to Cuba were China ($X), Spain ($X) and the Netherlands ($X).

Among the main suppliers, China, with a CAGR of -13.8%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average iron and steel import price stood at $X per ton in 2021, surging by 9.6% against the previous year. Overall, the import price continues to indicate resilient growth. The growth pace was the most rapid in 2018 an increase of 91%. The import price peaked in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Spain ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+22.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

Base Year Historical Period Forecast Period Units
2022 2012-2022 2023-2030 US$, Tons

Frequently Asked Questions (FAQ) :

What are the largest markets for iron and steel in the world?
+
China constituted the country with the largest volume of iron and steel consumption, accounting for 55% of total volume. Moreover, iron and steel consumption in China exceeded the figures recorded by the second-largest consumer, Japan, more than tenfold. India ranked third in terms of total consumption with a 5.1% share.
What are the largest producers of iron and steel in the world?
+
China remains the largest iron and steel producing country worldwide, accounting for 55% of total volume. Moreover, iron and steel production in China exceeded the figures recorded by the second-largest producer, India, more than tenfold. Japan ranked third in terms of total production with a 5.1% share.
What are the leading suppliers of iron and steel to Cuba?
+
In value terms, the largest iron and steel suppliers to Cuba were China, Spain and the Netherlands.
What are the leading importers of iron and steel from Cuba?
+
In value terms, the Dominican Republic remains the key foreign market for iron and steel exports from Cuba.
What is the average export price for iron and steel in Cuba?
+
The average iron and steel export price stood at $866 per ton in 2021, reducing by -3% against the previous year.
What is the average import price for iron and steel in Cuba?
+
The average iron and steel import price stood at $2,626 per ton in 2021, growing by 9.6% against the previous year.

This report provides an in-depth analysis of the iron and steel market in Cuba. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.


Product coverage:
Country coverage:
• Cuba

Data coverage:
• Market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Trade (exports and imports) in Cuba
• Export and import prices
• Market trends, drivers and restraints
• Key market players and their profiles

Reasons to buy this report:
• Take advantage of the latest data
• Find deeper insights into current market developments
• Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
REPORT DESCRIPTION
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

2.1
KEY FINDINGS
2.2
MARKET TRENDS  This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
MARKET STRUCTURE
3.3
TRADE BALANCE
3.4
PER CAPITA CONSUMPTION
3.5
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business

This Chapter is Available Only for the Professional Edition PRO
4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

This Chapter is Available Only for the Professional Edition PRO
5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

This Chapter is Available Only for the Professional Edition PRO
6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
8. IMPORTS

The Largest Import Supplying Countries

8.1
IMPORTS FROM 2012–2022
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Destinations for Exports

9.1
EXPORTS FROM 2012–2022
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
Table 1:
Key Findings In 2022
Table 2:
Market Volume, In Physical Terms, 2012–2022
Table 3:
Market Value, 2012–2022
Table 4:
Per Capita Consumption In 2007-2022
Table 5:
Imports, In Physical Terms, By Country, 2012–2022
Table 6:
Imports, In Value Terms, By Country, 2012–2022
Table 7:
Import Prices, By Country Of Origin, 2012–2022
Table 8:
Exports, In Physical Terms, By Country, 2012–2022
Table 9:
Exports, In Value Terms, By Country, 2012–2022
Table 10:
Export Prices, By Country Of Destination, 2012–2022
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2012–2022
Figure 2:
Market Value, 2012–2022
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2007-2022
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2007-2022
Figure 5:
Trade Balance, In Physical Terms, 2007-2022
Figure 6:
Trade Balance, In Value Terms, 2007-2022
Figure 7:
Per Capita Consumption, 2007-2022
Figure 8:
Market Forecast To 2030
Figure 9:
Products: Market Size And Growth, By Type
Figure 10:
Products: Average Per Capita Consumption, By Type
Figure 11:
Products: Exports And Growth, By Type
Figure 12:
Products: Export Prices And Growth, By Type
Figure 13:
Production Volume And Growth
Figure 14:
Exports And Growth
Figure 15:
Export Prices And Growth
Figure 16:
Market Size And Growth
Figure 17:
Per Capita Consumption
Figure 18:
Imports And Growth
Figure 19:
Import Prices
Figure 20:
Production, In Physical Terms, 2012–2022
Figure 21:
Production, In Value Terms, 2012–2022
Figure 22:
Imports, In Physical Terms, 2012–2022
Figure 23:
Imports, In Value Terms, 2012–2022
Figure 24:
Imports, In Physical Terms, By Country, 2022
Figure 25:
Imports, In Physical Terms, By Country, 2012–2022
Figure 26:
Imports, In Value Terms, By Country, 2012–2022
Figure 27:
Import Prices, By Country Of Origin, 2012–2022
Figure 28:
Exports, In Physical Terms, 2012–2022
Figure 29:
Exports, In Value Terms, 2012–2022
Figure 30:
Exports, In Physical Terms, By Country, 2022
Figure 31:
Exports, In Physical Terms, By Country, 2012–2022
Figure 32:
Exports, In Value Terms, By Country, 2012–2022
Figure 33:
Export Prices, By Country Of Destination, 2012–2022
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