Scandinavia: Market for Articles Of Iron Or Steel 2024

Market Size for Articles Of Iron Or Steel in Scandinavia

After five years of growth, the Scandinavia steel and iron articles market decreased by -0.2% to $X in 2022. The total consumption indicated a mild increase from 2012 to 2022: its value increased at an average annual rate of +1.4% 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 +67.1% against 2016 indices. Over the period under review, the market attained the maximum level at $X in 2021, and then shrank in the following year.

Production of Articles Of Iron Or Steel in Scandinavia

In value terms, steel and iron articles production plummeted to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a abrupt slump. The pace of growth appeared the most rapid in 2018 when the production volume increased by 25%. Over the period under review, production reached the peak level at $X in 2021, and then declined rapidly in the following year.

Exports of Articles Of Iron Or Steel

Exports in Scandinavia

In 2022, the amount of articles of iron or steel exported in Scandinavia rose to X tons, picking up by 2.2% on the year before. In general, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 15% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, steel and iron articles exports amounted to $X in 2022. The total export value increased at an average annual rate of +1.9% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of 22% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

Exports by Country

In 2022, Sweden (X tons) was the main exporter of articles of iron or steel, comprising 54% of total exports. Finland (X tons) held a 29% share (based on physical terms) of total exports, which put it in second place, followed by Norway (17%).

From 2012 to 2022, the biggest increases were recorded for Finland (with a CAGR of +7.0%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, Sweden ($X) remains the largest steel and iron articles supplier in Scandinavia, comprising 60% of total exports. The second position in the ranking was held by Finland ($X), with a 20% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Sweden totaled +1.1%. The remaining exporting countries recorded the following average annual rates of exports growth: Finland (+3.6% per year) and Norway (+2.6% per year).

Export Prices by Country

In 2022, the export price in Scandinavia amounted to $X per ton, stabilizing at the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.2%. The pace of growth appeared the most rapid in 2013 an increase of 20%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Norway ($X per ton), while Finland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+3.6%), while the other leaders experienced a decline in the export price figures.

Imports of Articles Of Iron Or Steel

Imports in Scandinavia

Steel and iron articles imports shrank slightly to X tons in 2022, stabilizing at 2021. The total import volume increased at an average annual rate of +2.8% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when imports increased by 15% against the previous year. As a result, imports reached the peak of X tons, leveling off in the following year.

In value terms, steel and iron articles imports dropped modestly to $X in 2022. The total import value increased at an average annual rate of +3.7% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 24%. As a result, imports reached the peak of $X, and then declined modestly in the following year.

Imports by Country

Sweden was the main importing country with an import of about X tons, which recorded 46% of total imports. Norway (X tons) ranks second in terms of the total imports with a 29% share, followed by Finland (25%).

From 2012 to 2022, the biggest increases were recorded for Finland (with a CAGR of +5.1%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, Sweden ($X), Norway ($X) and Finland ($X) appeared to be the countries with the highest levels of imports in 2022.

Finland, with a CAGR of +6.6%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Scandinavia stood at $X per ton in 2022, flattening at the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 8.7%. Over the period under review, import prices hit record highs at $X per ton in 2021, and then shrank in the following year.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Norway ($X per ton), while Sweden ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Norway (+1.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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