IndexBox has recently released a new report titled: “Europe – Hot-Rolled Steel Bars and Rods – Market Analysis, Forecast, Size, Trends and Insights.” This report offers an in-depth analysis of the European hot-rolled steel bar and rod industry.
In 2024, the market saw a consumption of 47 million tons, amounting to a value of $39.7 billion. The leading consumers in this market were Russia, the United Kingdom, and Spain. The production was recorded at 49 million tons, with Russia, Italy, and the United Kingdom being the primary producers. The European region is a net exporter, with a significant portion of the trade occurring within Europe.
The market is predicted to grow at a Compound Annual Growth Rate (CAGR) of +1.4% in volume and +3.0% in value from 2024 to 2035. By 2035, it is expected to reach 55 million tons and $55 billion, driven by increasing demand. Noteworthy trends include Spain’s rapid growth in consumption and Russia’s expansion in exports.
Key Findings:
– The market volume is expected to grow at a CAGR of +1.4%, reaching 55 million tons by 2035.
– Russia, the United Kingdom, and Italy are the leaders in market value, while Belarus, Belgium, and Spain have the highest per capita consumption.
– Spain has recorded the most significant growth rate in both consumption value and volume among major countries.
– The region is a net exporter, with Russia, Italy, and Germany as the leading suppliers.
– Import and export prices peaked in 2022 but have since declined.
Market Forecast:
The market for hot-rolled steel bar and rod in Europe is expected to see an upward trend in consumption over the next decade, driven by rising demand. The market performance is forecasted to increase slightly, with an anticipated CAGR of +1.4% from 2024 to 2035, projected to bring the market volume to 55 million tons by the end of 2035.
In terms of value, the market is forecasted to increase with an anticipated CAGR of +3.0% from 2024 to 2035, projected to bring the market value to $55 billion (in nominal wholesale prices) by the end of 2035.
Consumption:
In 2024, the consumption of hot-rolled steel bar and rod in Europe stood at 47 million tons, remaining relatively stable compared to the previous year. However, the consumption volume peaked at 56 million tons in 2022, and from 2023 to 2024, consumption remained at a lower figure.
The market revenue for hot-rolled steel bars and rods in Europe surged to $39.7 billion in 2024, a 15% increase from 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). The market reached its peak level at $61.2 billion in 2022; however, from 2023 to 2024, consumption stood at a somewhat lower figure.
Consumption By Country:
In 2024, the countries with the highest volumes of consumption were Russia (6.5 million tons), the United Kingdom (4.9 million tons), and Spain (4 million tons).
