Non-Alloy Steel I-Sections Market

Driven by rising demand for non-alloy steel i-sections worldwide, the market is forecasted to experience slight growth in volume and value from 2022 to 2030. Key findings include a decrease in consumption in 2022, countries with the highest consumption and production volumes, as well as trends in imports and exports. The average prices and growth rates are also analyzed over the period from 2012 to 2022.

Market Forecast

Driven by rising demand for non-alloy steel i-sections worldwide, the market is expected to start an upward consumption trend over the next eight-year period. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +0.3% for the period from 2022 to 2030, which is projected to bring the market volume to 18M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +2.6% for the period from 2022 to 2030, which is projected to bring the market value to $16.1B (in nominal prices) by the end of 2030.

Consumption

World Consumption of I-Sections Of Non-Alloy Steel

In 2022, global non-alloy steel i-sections consumption shrank modestly to 18M tons, with a decrease of -2.5% compared with the previous year's figure. Over the period under review, consumption showed a perceptible decrease. The growth pace was the most rapid in 2021 with an increase of 4.3% against the previous year. Global consumption peaked at 24M tons in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

The global non-alloy steel i-sections market value totaled $13.1B in 2022, approximately mirroring the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption recorded a pronounced downturn. Over the period under review, the global market reached the peak level at $19.1B in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (4.1M tons), the United States (2.5M tons) and India (1.6M tons), together comprising 47% of global consumption.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +1.9%), while consumption for the other global leaders experienced a decline in the consumption figures.

In value terms, the largest non-alloy steel i-sections markets worldwide were China ($3B), the United States ($1.7B) and India ($874M), with a combined 43% share of the global market. Japan, Russia, the UK, Indonesia, Brazil, France, Germany, Pakistan, Mexico and Turkey lagged somewhat behind, together comprising a further 27%.

Among the main consuming countries, France, with a CAGR of +0.9%, saw the highest growth rate of market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of non-alloy steel i-sections per capita consumption in 2022 were the United States (7.4 kg per person), the UK (6.2 kg per person) and Japan (6 kg per person).

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +1.2%), while consumption for the other global leaders experienced a decline in the per capita consumption figures.

Production

World Production of I-Sections Of Non-Alloy Steel

In 2022, the amount of i-sections of non-alloy steel produced worldwide contracted slightly to 17M tons, with a decrease of -3.8% on 2021 figures. Overall, production saw a perceptible shrinkage. The most prominent rate of growth was recorded in 2021 when the production volume increased by 5.6%. Over the period under review, global production reached the peak volume at 24M tons in 2012; however, from 2013 to 2022, production failed to regain momentum.

In value terms, non-alloy steel i-sections production fell to $12.4B in 2022 estimated in export price. In general, production showed a pronounced curtailment. The most prominent rate of growth was recorded in 2021 when the production volume increased by 11%. Global production peaked at $18.8B in 2012; however, from 2013 to 2022, production failed to regain momentum.

Production By Country

The countries with the highest volumes of production in 2022 were China (4.2M tons), the United States (2.5M tons) and India (1.7M tons), together accounting for 49% of global production.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the leading producing countries, was attained by the United States (with a CAGR of +0.5%), while production for the other global leaders experienced mixed trends in the production figures.

Imports

World Imports of I-Sections Of Non-Alloy Steel

In 2022, global non-alloy steel i-sections imports shrank to 3.4M tons, dropping by -3.6% against 2021 figures. Over the period under review, imports saw a slight shrinkage. The most prominent rate of growth was recorded in 2015 with an increase of 9.5% against the previous year. As a result, imports reached the peak of 4.2M tons. From 2016 to 2022, the growth of global imports remained at a lower figure.

In value terms, non-alloy steel i-sections imports rose notably to $3.6B in 2022. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by 57% against the previous year. Over the period under review, global imports reached the peak figure in 2022 and are likely to continue growth in years to come.

Imports By Country

France (351K tons), the UK (243K tons), Algeria (196K tons), Malaysia (167K tons), Germany (161K tons), the Netherlands (142K tons) and Iraq (141K tons) represented roughly 41% of total imports in 2022. Canada (88K tons), Italy (81K tons), Morocco (74K tons), the United States (73K tons), Belgium (70K tons) and the Czech Republic (62K tons) took a relatively small share of total imports.

From 2012 to 2022, the biggest increases were recorded for Morocco (with a CAGR of +7.1%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest non-alloy steel i-sections importing markets worldwide were France ($419M), the UK ($284M) and Germany ($192M), together accounting for 25% of global imports. The Netherlands, Malaysia, Algeria, Canada, Italy, the United States, Belgium, Morocco, Iraq and the Czech Republic lagged somewhat behind, together accounting for a further 30%.

Among the main importing countries, Morocco, with a CAGR of +11.3%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average non-alloy steel i-sections import price stood at $1,045 per ton in 2022, with an increase of 18% against the previous year. In general, import price indicated a noticeable increase from 2012 to 2022: its price increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, non-alloy steel i-sections import price increased by +80.6% against 2020 indices. The growth pace was the most rapid in 2021 an increase of 53%. Global import price peaked in 2022 and is likely to see steady growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Canada ($1,245 per ton), while Iraq ($538 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+4.7%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of I-Sections Of Non-Alloy Steel

In 2022, the amount of i-sections of non-alloy steel exported worldwide declined to 3.1M tons, waning by -10.5% against 2021. In general, exports saw a slight downturn. The pace of growth appeared the most rapid in 2021 when exports increased by 9.2%. Over the period under review, the global exports attained the peak figure at 3.5M tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, non-alloy steel i-sections exports expanded notably to $3.3B in 2022. Over the period under review, total exports indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +84.4% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 68%. Over the period under review, the global exports attained the peak figure in 2022 and are likely to continue growth in the near future.

Exports By Country

Spain represented the largest exporting country with an export of about 936K tons, which recorded 30% of total exports. Turkey (333K tons) ranks second in terms of the total exports with an 11% share, followed by Germany (9.9%), Luxembourg (8.2%) and Iran (5.2%). The following exporters - China (125K tons), Poland (122K tons), India (113K tons), Italy (88K tons), the UK (72K tons), the United States (70K tons), the United Arab Emirates (64K tons) and Mexico (48K tons) - together made up 23% of total exports.

Spain experienced a relatively flat trend pattern with regard to volume of exports of i-sections of non-alloy steel. At the same time, the United Arab Emirates (+23.9%), China (+16.9%), the UK (+15.4%), India (+14.2%), Iran (+12.2%), Mexico (+8.8%) and Turkey (+2.3%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in the world, with a CAGR of +23.9% from 2012-2022. By contrast, Luxembourg (-2.4%), Germany (-3.6%), Italy (-4.8%), Poland (-7.8%) and the United States (-15.7%) illustrated a downward trend over the same period. Iran (+3.7 p.p.), China (+3.3 p.p.), Turkey (+3.3 p.p.), Spain (+3.1 p.p.), India (+2.8 p.p.), the United Arab Emirates (+1.9 p.p.) and the UK (+1.8 p.p.) significantly strengthened its position in terms of the global exports, while Germany, Poland and the United States saw its share reduced by -2.5%, -3.8% and -8.6% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Spain ($1B) remains the largest non-alloy steel i-sections supplier worldwide, comprising 31% of global exports. The second position in the ranking was held by Germany ($362M), with an 11% share of global exports. It was followed by Luxembourg, with a 9.2% share.

From 2012 to 2022, the average annual growth rate of value in Spain amounted to +3.9%. In the other countries, the average annual rates were as follows: Germany (+0.1% per year) and Luxembourg (+1.9% per year).

Export Prices By Country

The average non-alloy steel i-sections export price stood at $1,057 per ton in 2022, picking up by 23% against the previous year. Over the period under review, export price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, non-alloy steel i-sections export price increased by +88.6% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of 53%. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the UK ($1,609 per ton), while Iran ($498 per ton) was amongst the lowest.

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

Source: IndexBox Market Intelligence Platform