Estonia: Ferro-Alloys Market 2024

Ferro-Alloys Market Size in Estonia

In 2023, the Estonian ferro-alloys market decreased by X% to $X, falling for the second consecutive year after three years of growth. In general, consumption recorded strong growth. Over the period under review, the market reached the peak level at $X in 2021; however, from 2022 to 2023, consumption remained at a lower figure.

Ferro-Alloys Production in Estonia

In value terms, ferro-alloys production rose rapidly to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2015 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2016 to 2023, production growth remained at a lower figure.

Ferro-Alloys Exports

Exports from Estonia

In 2023, ferro-alloys exports from Estonia skyrocketed to X tons, picking up by X% on 2022 figures. Over the period under review, exports showed significant growth. The pace of growth was the most pronounced in 2014 with an increase of X%. Over the period under review, the exports reached the peak figure in 2023 and are expected to retain growth in the immediate term.

In value terms, ferro-alloys exports rose slightly to $X in 2023. In general, exports recorded a significant expansion. The growth pace was the most rapid in 2014 when exports increased by X%. The exports peaked in 2023 and are likely to continue growth in the near future.

Exports by Country

The Netherlands (X tons), Latvia (X tons) and Germany (X tons) were the main destinations of ferro-alloys exports from Estonia, with a combined X% share of total exports. Cyprus, the United States, Sweden, Spain, Turkey, France, Italy, Luxembourg, Slovenia and Belgium lagged somewhat behind, together comprising a further X%.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Cyprus (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Latvia ($X) and Germany ($X) constituted the largest markets for ferro-alloys exported from Estonia worldwide, with a combined X% share of total exports. The United States, Cyprus, Sweden, Spain, Italy, Turkey, Luxembourg, France, Slovenia and Belgium lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, Cyprus, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the average ferro-alloys export price amounted to $X per ton, reducing by X% against the previous year. In general, the export price continues to indicate a pronounced reduction. The pace of growth appeared the most rapid in 2022 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton, and then fell sharply in the following year.

There were significant differences in the average prices for the major external markets. In 2023, amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Germany ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Cyprus (X%), while the prices for the other major destinations experienced more modest paces of growth.

Ferro-Alloys Imports

Imports into Estonia

In 2023, supplies from abroad of ferro-alloys increased by X% to X tons, rising for the second year in a row after two years of decline. In general, imports enjoyed buoyant growth. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2023, imports stood at a somewhat lower figure.

In value terms, ferro-alloys imports declined dramatically to $X in 2023. Overall, imports posted a tangible increase. The pace of growth was the most pronounced in 2018 with an increase of X%. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2023, imports stood at a somewhat lower figure.

Imports by Country

In 2023, Russia (X tons) constituted the largest ferro-alloys supplier to Estonia, accounting for a X% share of total imports. Moreover, ferro-alloys imports from Russia exceeded the figures recorded by the second-largest supplier, Brazil (X tons), tenfold. The third position in this ranking was taken by Kazakhstan (X tons), with a X% share.

From 2012 to 2023, the average annual growth rate of volume from Russia amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (X% per year) and Kazakhstan (X% per year).

In value terms, Russia ($X), Brazil ($X) and Finland ($X) were the largest ferro-alloys suppliers to Estonia, with a combined X% share of total imports.

In terms of the main suppliers, Russia, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average ferro-alloys import price stood at $X per ton in 2023, falling by X% against the previous year. Over the period under review, the import price faced a deep slump. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2019 to 2023, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Brazil ($X per ton), while the price for Kazakhstan ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Zimbabwe (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform