Germany: Market for Articles Of Iron Or Steel 2024

Market Size for Articles Of Iron Or Steel in Germany

In 2022, the German steel and iron articles market increased by 17% to $X, rising for the second year in a row after two years of decline. Overall, the total consumption indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +47.5% against 2020 indices. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the near future.

Production of Articles Of Iron Or Steel in Germany

In value terms, steel and iron articles production expanded significantly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.0% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when the production volume increased by 24% against the previous year. Over the period under review, production reached the peak level in 2022 and is expected to retain growth in years to come.

Exports of Articles Of Iron Or Steel

Exports from Germany

In 2022, steel and iron articles exports from Germany dropped to X tons, which is down by -6.2% compared with the previous year's figure. In general, exports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when exports increased by 11%. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, steel and iron articles exports reduced modestly to $X in 2022. The total export value increased at an average annual rate of +1.8% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 22%. As a result, the exports attained the peak of $X, and then dropped in the following year.

Exports by Country

France (X tons), Poland (X tons) and the Netherlands (X tons) were the main destinations of steel and iron articles exports from Germany, together accounting for 24% of total exports. The Czech Republic, Austria, the UK, Sweden, Italy, Spain, the United States, Hungary, Switzerland and Romania lagged somewhat behind, together comprising a further 47%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Romania (with a CAGR of +5.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for steel and iron articles exported from Germany were the United States ($X), Poland ($X) and France ($X), with a combined 22% share of total exports. Austria, the Czech Republic, the Netherlands, Switzerland, Italy, the UK, Hungary, Sweden, Spain and Romania lagged somewhat behind, together accounting for a further 45%.

Switzerland, with a CAGR of +5.1%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average steel and iron articles export price amounted to $X per ton, picking up by 4.7% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.0%. The pace of growth appeared the most rapid in 2021 when the average export price increased by 9.9%. Over the period under review, the average export prices hit record highs in 2022 and is likely to continue growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Sweden ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Poland (+4.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Articles Of Iron Or Steel

Imports into Germany

In 2022, overseas purchases of articles of iron or steel increased by 1.5% to X tons, rising for the second year in a row after two years of decline. The total import volume increased at an average annual rate of +2.8% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The growth pace was the most rapid in 2021 when imports increased by 16%. Imports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, steel and iron articles imports expanded markedly to $X in 2022. Over the period under review, total imports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +40.8% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 28% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

China (X tons), Poland (X tons) and the Czech Republic (X tons) were the main suppliers of steel and iron articles imports to Germany, together accounting for 48% of total imports. Italy, Turkey, Austria, the Netherlands, France, Hungary, the UK, Spain, Slovakia and Sweden lagged somewhat behind, together comprising a further 37%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of +11.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest steel and iron articles suppliers to Germany were China ($X), Poland ($X) and the Czech Republic ($X), with a combined 40% share of total imports. Italy, Austria, Turkey, the Netherlands, France, the UK, Hungary, Slovakia, Spain and Sweden lagged somewhat behind, together comprising a further 37%.

In terms of the main suppliers, Turkey, with a CAGR of +12.4%, 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

In 2022, the average steel and iron articles import price amounted to $X per ton, surging by 8.5% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.4%. The pace of growth appeared the most rapid in 2021 when the average import price increased by 10% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hungary (+5.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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