Finland: Market for Iron Or Steel Solid Fuel Domestic Appliances 2024

Market Size for Iron Or Steel Solid Fuel Domestic Appliances in Finland

In 2022, the Finnish metal solid fuel appliances market decreased by -22.1% to $X for the first time since 2019, thus ending a two-year rising trend. Over the period under review, consumption saw a perceptible decline. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Production of Iron Or Steel Solid Fuel Domestic Appliances in Finland

In value terms, metal solid fuel appliances production shrank modestly to $X in 2022 estimated in export price. In general, production recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when the production volume increased by 29%. Over the period under review, production hit record highs at $X in 2021, and then reduced slightly in the following year.

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Exports of Iron Or Steel Solid Fuel Domestic Appliances

Exports from Finland

In 2022, shipments abroad of iron or steel solid fuel domestic appliances decreased by -10.8% to X units for the first time since 2018, thus ending a three-year rising trend. Overall, exports, however, saw modest growth. The most prominent rate of growth was recorded in 2020 with an increase of 94% against the previous year. Over the period under review, the exports hit record highs at X units in 2021, and then fell in the following year.

In value terms, metal solid fuel appliances exports shrank to $X in 2022. In general, exports recorded a noticeable descent. The pace of growth was the most pronounced in 2020 with an increase of 53%. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Sweden (X units) was the main destination for metal solid fuel appliances exports from Finland, with a 29% share of total exports. Moreover, metal solid fuel appliances exports to Sweden exceeded the volume sent to the second major destination, the United States (X units), twofold. The third position in this ranking was taken by Estonia (X units), with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Sweden amounted to +5.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+33.1% per year) and Estonia (+4.8% per year).

In value terms, Sweden ($X) remains the key foreign market for iron or steel solid fuel domestic appliances exports from Finland, comprising 27% of total exports. The second position in the ranking was taken by Estonia ($X), with a 13% share of total exports. It was followed by Germany, with a 13% share.

From 2012 to 2022, the average annual growth rate of value to Sweden totaled +3.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Estonia (+2.0% per year) and Germany (+9.6% per year).

Export Prices by Country

In 2022, the average metal solid fuel appliances export price amounted to $X per unit, approximately reflecting the previous year. Overall, the export price continues to indicate a noticeable reduction. The growth pace was the most rapid in 2021 an increase of 30%. Over the period under review, the average export prices attained the maximum at $X per unit in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Russia ($X per unit), while the average price for exports to Austria ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+2.7%), while the prices for the other major destinations experienced a decline.

Imports of Iron Or Steel Solid Fuel Domestic Appliances

Imports into Finland

In 2022, supplies from abroad of iron or steel solid fuel domestic appliances increased by 14% to X units, rising for the second year in a row after two years of decline. In general, imports saw a strong increase. The most prominent rate of growth was recorded in 2021 with an increase of 113% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, metal solid fuel appliances imports shrank to $X in 2022. Over the period under review, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by 76%. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest metal solid fuel appliances supplier to Finland, accounting for a 80% share of total imports. Moreover, metal solid fuel appliances imports from China exceeded the figures recorded by the second-largest supplier, Estonia (X units), ninefold. The Czech Republic (X units) ranked third in terms of total imports with a 2.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +18.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Estonia (-3.1% per year) and the Czech Republic (+9.7% per year).

In value terms, the largest metal solid fuel appliances suppliers to Finland were China ($X), Estonia ($X) and the Czech Republic ($X), together accounting for 70% of total imports.

Among the main suppliers, the Czech Republic, with a CAGR of +18.4%, 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 more modest paces of growth.

Import Prices by Country

In 2022, the average metal solid fuel appliances import price amounted to $X per unit, falling by -19.2% against the previous year. Overall, the import price recorded a deep setback. The pace of growth appeared the most rapid in 2020 an increase of 29%. The import price peaked at $X per unit in 2013; however, from 2014 to 2022, import prices stood at a somewhat 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 the Czech Republic ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+14.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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