Italy: Market for Articles Of Iron Or Steel 2024

Market Size for Articles Of Iron Or Steel in Italy

For the third year in a row, the Italian steel and iron articles market recorded growth in sales value, which increased by 32% to $X in 2022. Overall, consumption saw a buoyant expansion. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Production of Articles Of Iron Or Steel in Italy

In value terms, steel and iron articles production expanded sharply to $X in 2022 estimated in export price. In general, production showed prominent growth. The most prominent rate of growth was recorded in 2021 when the production volume increased by 87% against the previous year. Steel and iron articles production peaked in 2022 and is expected to retain growth in the immediate term.

Exports of Articles Of Iron Or Steel

Exports from Italy

In 2022, exports of articles of iron or steel from Italy dropped modestly to X tons, waning by -2.4% compared with 2021 figures. The total export volume increased at an average annual rate of +1.9% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. The growth pace was the most rapid in 2021 when exports increased by 13%. As a result, the exports attained the peak of X tons, and then dropped slightly in the following year.

In value terms, steel and iron articles exports expanded to $X in 2022. The total export value increased at an average annual rate of +3.0% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 28%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Germany (X tons), France (X tons) and Austria (X tons) were the main destinations of steel and iron articles exports from Italy, with a combined 42% share of total exports. The United States, Spain, Poland, Romania, Belgium, Sweden, the Netherlands, India, Switzerland and the UK lagged somewhat behind, together comprising a further 33%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by India (with a CAGR of +13.7%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for steel and iron articles exported from Italy were Germany ($X), France ($X) and the United States ($X), together accounting for 42% of total exports. Austria, Spain, Poland, Switzerland, Romania, the UK, the Netherlands, Belgium, Sweden and India lagged somewhat behind, together comprising a further 32%.

Austria, with a CAGR of +8.0%, saw the highest growth rate of the value of exports, among 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, increasing by 7.1% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.0%. The most prominent rate of growth was recorded in 2021 an increase of 13%. The export price peaked in 2022 and is likely to see gradual growth in the near future.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Switzerland ($X per ton), while the average price for exports to Austria ($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 Romania (+5.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Articles Of Iron Or Steel

Imports into Italy

In 2022, supplies from abroad of articles of iron or steel increased by 13% to X tons, rising for the second year in a row after two years of decline. Overall, total imports indicated resilient growth from 2012 to 2022: its volume increased at an average annual rate of +5.4% 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 +51.6% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 34% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, steel and iron articles imports expanded significantly to $X in 2022. Over the period under review, total imports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +5.6% 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 +59.0% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 46%. Imports peaked in 2022 and are likely to continue growth in years to come.

Imports by Country

China (X tons), Germany (X tons) and France (X tons) were the main suppliers of steel and iron articles imports to Italy, together accounting for 54% of total imports. South Korea, Turkey, Romania, Spain, Poland, the UK, Austria, the Netherlands, India and the Czech Republic lagged somewhat behind, together comprising a further 32%.

From 2012 to 2022, the biggest increases were recorded for the UK (with a CAGR of +15.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest steel and iron articles suppliers to Italy were China ($X), Germany ($X) and France ($X), together comprising 54% of total imports. South Korea, the UK, Romania, the Netherlands, Spain, Turkey, Austria, the Czech Republic, Poland and India lagged somewhat behind, together accounting for a further 29%.

India, with a CAGR of +13.1%, saw the highest rates of growth with regard to 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 steel and iron articles import price stood at $X per ton in 2022, declining by -3.7% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 8.9%. As a result, import price attained the peak level of $X per ton, and then fell slightly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+4.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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