Estonia: Market for Welded And Cold-Formed Sections Of Steel 2024

Market Size for Welded And Cold-Formed Sections Of Steel in Estonia

In 2022, the Estonian market for welded and cold-formed sections of steel decreased by X% to $X, falling for the fifth consecutive year after three years of growth. Over the period under review, consumption showed a noticeable downturn. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Welded And Cold-Formed Sections Of Steel in Estonia

In value terms, welded and cold-formed steel sections production reduced notably to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a deep reduction. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Welded and cold-formed steel sections production peaked at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Exports of Welded And Cold-Formed Sections Of Steel

Exports from Estonia

Welded and cold-formed steel sections exports from Estonia surged to X tons in 2022, with an increase of X% on 2021 figures. Over the period under review, exports recorded buoyant growth. The growth pace was the most rapid in 2016 with an increase of X%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, welded and cold-formed steel sections exports soared to $X in 2022. Overall, exports recorded a remarkable increase. The pace of growth appeared the most rapid in 2016 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in years to come.

Exports by Country

Finland (X tons) was the main destination for welded and cold-formed steel sections exports from Estonia, accounting for a X% share of total exports. Moreover, welded and cold-formed steel sections exports to Finland exceeded the volume sent to the second major destination, Sweden (X tons), threefold. The third position in this ranking was held by Latvia (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Finland totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (X% per year) and Latvia (X% per year).

In value terms, Finland ($X) remains the key foreign market for welded and cold-formed sections of steel exports from Estonia, comprising X% of total exports. The second position in the ranking was held by Sweden ($X), with a X% share of total exports. It was followed by Latvia, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Finland totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (X% per year) and Latvia (X% per year).

Export Prices by Country

In 2022, the average export price for welded and cold-formed sections of steel amounted to $X per ton, reducing by X% against the previous year. Overall, export price indicated a noticeable increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, welded and cold-formed steel sections export price decreased by X% against 2020 indices. The growth pace was the most rapid in 2015 when the average export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2016 to 2022, the average export prices failed to regain momentum.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Finland ($X per ton) and Sweden ($X per ton), while the average price for exports to Lithuania ($X per ton) and Latvia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Finland (X%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Welded And Cold-Formed Sections Of Steel

Imports into Estonia

Welded and cold-formed steel sections imports into Estonia declined rapidly to X tons in 2022, with a decrease of X% on the year before. Overall, imports, however, continue to indicate resilient growth. The most prominent rate of growth was recorded in 2020 with an increase of X%. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, welded and cold-formed steel sections imports fell to $X in 2022. Over the period under review, imports, however, saw noticeable growth. The most prominent rate of growth was recorded in 2016 when imports increased by X% against the previous year. Imports peaked at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Italy (X tons) constituted the largest welded and cold-formed steel sections supplier to Estonia, with a X% share of total imports. Moreover, welded and cold-formed steel sections imports from Italy exceeded the figures recorded by the second-largest supplier, Latvia (X tons), twofold. The third position in this ranking was held by Poland (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Italy amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Latvia (X% per year) and Poland (X% per year).

In value terms, Poland ($X), Italy ($X) and Sweden ($X) constituted the largest welded and cold-formed steel sections suppliers to Estonia, together comprising X% of total imports. Latvia, Finland, the UK and Lithuania lagged somewhat behind, together comprising a further X%.

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

Import Prices by Country

The average import price for welded and cold-formed sections of steel stood at $X per ton in 2022, increasing by X% against the previous year. Overall, the import price, however, showed a perceptible descent. The pace of growth was the most pronounced in 2017 when the average import price increased by X%. The import price peaked at $X per ton in 2019; however, from 2020 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Sweden ($X per ton), while the price for Latvia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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