European Union's Cold-Rolled Steel Products Market to Increase with +0.8% CAGR Over Next Decade - News and Statistics - IndexBox

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The European Union market for cold-rolled steel products is set to experience a positive consumption trend over the next decade, with a forecasted CAGR of +0.8% in volume and +1.5% in value from 2024 to 2035. By the end of 2035, the market volume is expected to reach 16M tons, with a market value of $30.9B in nominal prices.

Driven by rising demand for cold-rolled steel products in the European Union, the market is expected to start an upward consumption trend over the next decade. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +0.8% for the period from 2024 to 2035, which is projected to bring the market volume to 16M tons by the end of 2035.

In value terms, the market is forecast to increase with an anticipated CAGR of +1.5% for the period from 2024 to 2035, which is projected to bring the market value to $30.9B (in nominal wholesale prices) by the end of 2035.

In 2024, after two years of decline, there was significant growth in consumption of flat-rolled products of iron or steel (not further worked than cold-rolled), when its volume increased by 17% to 14M tons. In general, consumption, however, continues to indicate a slight curtailment. Over the period under review, consumption attained the peak volume at 19M tons in 2017; however, from 2018 to 2024, consumption failed to regain momentum.

The revenue of the cold-rolled steel products market in the European Union surged to $26.3B in 2024, jumping by 18% against 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). Overall, consumption showed a relatively flat trend pattern. The level of consumption peaked at $32.6B in 2022; however, from 2023 to 2024, consumption remained at a lower figure.

The countries with the highest volumes of consumption in 2024 were Italy (3.3M tons), Germany (2.4M tons) and Spain (1.8M tons), together accounting for 51% of total consumption. Poland, the Netherlands, Belgium, the Czech Republic, Sweden, Portugal and Austria lagged somewhat behind, together accounting for a further 34%.

From 2013 to 2024, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by Austria (with a CAGR of +5.1%), while consumption for the other leaders experienced more modest paces of growth.

In value terms, Italy ($6.1B), Germany ($5.7B) and Spain ($2.8B) appeared to be the countries with the highest levels of market value in 2024, together accounting for 55% of the total market. The Netherlands, Poland, the Czech Republic, Sweden, Belgium, Austria and Portugal lagged somewhat behind, together comprising a further 30%.

Austria, with a CAGR of +5.4%, recorded the highest growth rate of market size among the main consuming countries over the period under review, while market for the other leaders experienced more modest paces of growth.

The countries with the highest levels of cold-rolled steel products per capita consumption in 2024 were Belgium (72 kg per person), the Czech Republic (59 kg per person) and the Netherlands (56 kg per person).

From 2013 to 2024, the biggest increases were recorded for Austria (with a CAGR of +4.6%), while consumption for the other leaders experienced more modest paces of growth.

In 2024, production of flat-rolled products of iron or steel (not further worked than cold-rolled) increased by 13% to 12M tons for the first time since 2021, thus ending a two-year declining trend. Over the period under review, production, however, recorded a noticeable decline. The growth pace was the most rapid in 2021 with an increase of 17%. Over the period under review, production reached the maximum volume at 17M tons in 2017; however, from 2018 to 2024, production remained at a lower figure.

In value terms, cold-rolled steel products production skyrocketed to $23.8B in 2024 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the production volume increased by 46% against the previous year. Over the period under review, production attained the peak level at $28.3B in 2022; however, from 2023 to 2024, production remained at a lower figure.

The countries with the highest volumes of production in 2024 were Italy (2.7M tons), Germany (2.1M tons) and the Netherlands (1.2M tons), together comprising 51% of total production.

From 2013 to 2024, the most notable rate of growth in terms of production, amongst the leading producing countries, was attained by Italy (with a CAGR of +0.3%), while production for the other leaders experienced a decline in the production figures.

In 2024, the amount of flat-rolled products of iron or steel (not further worked than cold-rolled) imported in the European Union dropped remarkably to 10M tons, waning by -17.7% against the previous year's figure. In general, imports saw a mild descent. The most prominent rate of growth was recorded in 2021 when imports increased by 18% against the previous year. As a result, imports attained the peak of 15M tons. From 2022 to 2024, the growth of imports remained at a somewhat lower figure.

In value terms, cold-rolled steel products imports reduced dramatically to $16.3B in 2024. Overall, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 63%. Over the period under review, imports attained the maximum at $29.5B in 2022; however, from 2023 to 2024, imports stood at a somewhat lower figure.

The countries with the highest levels of cold-rolled steel products imports in 2024 were Germany (1.6M tons), Belgium (1.4M tons), Italy (1.4M tons), Spain (1.2M tons), Poland (0.9M tons), the Netherlands (0.8M tons), France (0.7M tons) and the Czech Republic (0.7M tons), together recording 83% of total import.

From 2013 to 2024, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Spain (with a CAGR of +5.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($3.1B), Italy ($2.3B) and the Netherlands ($1.8B) appeared to be the countries with the highest levels of imports in 2024, together accounting for 43% of total imports. Belgium, Spain, Poland, the Czech Republic and France lagged somewhat behind, together comprising a further 38%.

In terms of the main importing countries, Spain, with a CAGR of +6.7%, saw 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.

In 2024, iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness exceeding 1mm but less than 3mm (2.8M tons) and iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 0.5mm or more but not exceeding 1mm (2.5M tons) were the main types of flat-rolled products of iron or steel (not further worked than cold-rolled) in the European Union, together achieving 51% of total imports. It was distantly followed by stainless steel, flat-rolled, width 600mm or more, cold-rolled, of a thickness exceeding 1mm but less than 3mm (1,052K tons), alloy steel, flat-rolled, width 600mm or more, cold-rolled (743K tons) and stainless steel, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 0.5mm or more but not exceeding 1mm (728K tons), together creating a 24% share of total imports. The following types - iron or non-alloy steel, flat-rolled, cold-rolled, of a width less than 600mm, containing by weight less than 0.25% of carbon (459K tons), stainless steel, flat-rolled, width less than 600mm, cold-rolled (394K tons), stainless steel, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 3mm or more but less than 4.75mm (314K tons), iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of less than 0.5mm (311K tons), iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 3mm or more (218K tons), iron or non-alloy steel, not in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness exceeding 1mm but less than 3mm (210K tons), iron or non-alloy steel, not in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 0.5mm or more but not exceeding 1mm (159K tons) and iron or non-alloy steel, flat-rolled, hot-rolled, width less than 600mm, other than of item no. 7211.21 and 7211.22 (157K tons) - together made up 21% of total imports.

From 2013 to 2024, the most notable rate of growth in terms of purchases, amongst the leading imported products, was attained by iron or non-alloy steel, not in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 3mm or more (with a CAGR of +0.4%), while imports for the other products experienced more modest paces of growth.

In value terms, the largest types of imported flat-rolled products of iron or steel (not further worked than cold-rolled) were stainless steel, flat-rolled, width 600mm or more, cold-rolled, of a thickness exceeding 1mm but less than 3mm ($3.2B), iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness exceeding 1mm but less than 3mm ($2.6B) and iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 0.5mm or more but not exceeding 1mm ($2.2B), together comprising 49% of total imports. Stainless steel, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 0.5mm or more but not exceeding 1mm, stainless steel, flat-rolled, width less than 600mm, cold-rolled, stainless steel, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 3mm or more but less than 4.75mm, alloy steel, flat-rolled, width 600mm or more, cold-rolled, iron or non-alloy steel, flat-rolled, cold-rolled, of a width less than 600mm, containing by weight less than 0.25% of carbon, stainless steel, flat-rolled, width 600mm or more, cold-rolled or cold-reduced, of a thickness of 4.75mm or more, stainless steel, flat-rolled, width 600mm or more, cold-rolled, of a thickness of less than 0.5mm, iron or non-alloy steel, flat-rolled, hot-rolled, width less than 600mm, other than of item no. 7211.21 and 7211.22, iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of less than 0.5mm, iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 3mm or more, alloy steel, flat-rolled, width less than 600mm, n.e.s. in heading no. 7226, cold-rolled, iron or non-alloy steel, not in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness exceeding 1mm but less than 3mm, iron or non-alloy steel, not in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 0.5mm or more but not exceeding 1mm, iron or non-alloy steel, not in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 3mm or more and iron or non-alloy steel, not in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of less than 0.5mm lagged somewhat behind, together comprising a further 51%.

Iron or non-alloy steel, not in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 3mm or more, with a CAGR of +3.1%, recorded the highest growth rate of the value of imports, in terms of the main imported products over the period under review, while purchases for the other products experienced more modest paces of growth.

In 2024, the import price in the European Union amounted to $1,577 per ton, dropping by -9.7% against the previous year. Import price indicated a slight increase from 2013 to 2024: its price increased at an average annual rate of +1.4% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, cold-rolled steel products import price decreased by -25.5% against 2022 indices. The pace of growth appeared the most rapid in 2021 when the import price increased by 39% against the previous year. Over the period under review, import prices reached the maximum at $2,116 per ton in 2022; however, from 2023 to 2024, import prices remained at a lower figure.

Prices varied noticeably by the product type; the product with the highest price was stainless steel, flat-rolled, width less than 600mm, cold-rolled ($4,251 per ton), while the price for iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of less than 0.5mm ($882 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by iron or non-alloy steel, not in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of less than 0.5mm (+6.3%), while the other products experienced more modest paces of growth.

In 2024, the import price in the European Union amounted to $1,577 per ton, with a decrease of -9.7% against the previous year. Import price indicated a modest increase from 2013 to 2024: its price increased at an average annual rate of +1.4% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, cold-rolled steel products import price decreased by -25.5% against 2022 indices. The most prominent rate of growth was recorded in 2021 when the import price increased by 39% against the previous year. Over the period under review, import prices hit record highs at $2,116 per ton in 2022; however, from 2023 to 2024, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the Netherlands ($2,108 per ton), while Belgium ($1,064 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Germany (+2.1%), while the other leaders experienced more modest paces of growth.

For the third year in a row, the European Union recorded decline in shipments abroad of flat-rolled products of iron or steel (not further worked than cold-rolled), which decreased by -27.9% to 7.7M tons in 2024. Over the period under review, exports continue to indicate a noticeable contraction. The pace of growth appeared the most rapid in 2021 with an increase of 13% against the previous year. Over the period under review, the exports reached the peak figure at 13M tons in 2017; however, from 2018 to 2024, the exports stood at a somewhat lower figure.

In value terms, cold-rolled steel products exports declined notably to $15B in 2024. In general, exports continue to indicate a mild descent. The pace of growth appeared the most rapid in 2021 when exports increased by 54%. Over the period under review, the exports reached the maximum at $26.4B in 2022; however, from 2023 to 2024, the exports stood at a somewhat lower figure.

Belgium (1.7M tons), Germany (1.3M tons), the Netherlands (1.1M tons) and Italy (0.8M tons) represented roughly 62% of total exports in 2024. Sweden (486K tons) held a 6.3% share (based on physical terms) of total exports, which put it in second place, followed by Finland (6.2%), France (6.1%), Austria (5.8%) and Spain (4.7%).

From 2013 to 2024, the biggest increases were recorded for Sweden (with a CAGR of -0.2%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, the largest cold-rolled steel products supplying countries in the European Union were Belgium ($2.6B), Germany ($2.3B) and Italy ($1.9B), together comprising 45% of total exports.

In terms of the main exporting countries, Belgium, with a CAGR of +0.6%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

The products with the highest levels of cold-rolled steel products exports in 2024 were iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness exceeding 1mm but less than 3mm (1.5M tons), iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 0.5mm or more but not exceeding 1mm (1.4M tons), stainless steel, flat-rolled, width 600mm or more, cold-rolled, of a thickness exceeding 1mm but less than 3mm (1M tons) and alloy steel, flat-rolled, width 600mm or more, cold-rolled (0.9M tons), together accounting for 61% of total export. It was distantly followed by stainless steel, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 0.5mm or more but not exceeding 1mm (569K tons), iron or non-alloy steel, flat-rolled, cold-rolled, of a width less than 600mm, containing by weight less than 0.25% of carbon (446K tons) and stainless steel, flat-rolled, width less than 600mm, cold-rolled (435K tons), together achieving a 19% share of total exports. Stainless steel, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 3mm or more but less than 4.75mm (344K tons), iron or non-alloy steel, not in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness exceeding 1mm but less than 3mm (209K tons), iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of less than 0.5mm (207K tons), iron or non-alloy steel, flat-rolled, hot-rolled, width less than 600mm, other than of item no. 7211.21 and 7211.22 (185K tons), alloy steel, flat-rolled, width less than 600mm, n.e.s. in heading no. 7226, cold-rolled (164K tons), iron or non-alloy steel, not in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 0.5mm or more but not exceeding 1mm (144K tons) and stainless steel, flat-rolled, width 600mm or more, cold-rolled or cold-reduced, of a thickness of 4.75mm or more (141K tons) followed a long way behind the leaders.

From 2013 to 2024, the most notable rate of growth in terms of shipments, amongst the main exported products, was attained by stainless steel, flat-rolled, width 600mm or more, cold-rolled or cold-reduced, of a thickness of 4.75mm or more (with a CAGR of -0.2%), while the other products experienced a decline in the exports figures.

In value terms, the largest types of exported flat-rolled products of iron or steel (not further worked than cold-rolled) were stainless steel, flat-rolled, width 600mm or more, cold-rolled, of a thickness exceeding 1mm but less than 3mm ($3.2B), stainless steel, flat-rolled, width less than 600mm, cold-rolled ($1.9B) and stainless steel, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 0.5mm or more but not exceeding 1mm ($1.8B), with a combined 46% share of total exports. Iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness exceeding 1mm but less than 3mm, iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 0.5mm or more but not exceeding 1mm, stainless steel, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 3mm or more but less than 4.75mm, alloy steel, flat-rolled, width 600mm or more, cold-rolled, alloy steel, flat-rolled, width less than 600mm, n.e.s. in heading no. 7226, cold-rolled, iron or non-alloy steel, flat-rolled, cold-rolled, of a width less than 600mm, containing by weight less than 0.25% of carbon, stainless steel, flat-rolled, width 600mm or more, cold-rolled or cold-reduced, of a thickness of 4.75mm or more, iron or non-alloy steel, flat-rolled, hot-rolled, width less than 600mm, other than of item no. 7211.21 and 7211.22, stainless steel, flat-rolled, width 600mm or more, cold-rolled, of a thickness of less than 0.5mm, iron or non-alloy steel, not in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness exceeding 1mm but less than 3mm, iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of less than 0.5mm, iron or non-alloy steel, not in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 0.5mm or more but not exceeding 1mm, iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 3mm or more, iron or non-alloy steel, not in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 3mm or more and iron or non-alloy steel, not in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of less than 0.5mm lagged somewhat behind, together accounting for a further 54%.

Alloy steel, flat-rolled, width 600mm or more, cold-rolled, with a CAGR of +2.9%, recorded the highest growth rate of the value of exports, among the main exported products over the period under review, while shipments for the other products experienced more modest paces of growth.

The export price in the European Union stood at $1,945 per ton in 2024, reducing by -3.6% against the previous year. Export price indicated measured growth from 2013 to 2024: its price increased at an average annual rate of +2.6% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, cold-rolled steel products export price decreased by -17.0% against 2022 indices. The most prominent rate of growth was recorded in 2021 when the export price increased by 36%. The level of export peaked at $2,344 per ton in 2022; however, from 2023 to 2024, the export prices failed to regain momentum.

Prices varied noticeably by the product type; the product with the highest price was stainless steel, flat-rolled, width less than 600mm, cold-rolled ($4,416 per ton), while the average price for exports of iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness exceeding 1mm but less than 3mm ($931 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by iron or non-alloy steel, not in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of less than 0.5mm (+6.0%), while the other products experienced more modest paces of growth.

In 2024, the export price in the European Union amounted to $1,945 per ton, declining by -3.6% against the previous year. Export price indicated a perceptible increase from 2013 to 2024: its price increased at an average annual rate of +2.6% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, cold-rolled steel products export price decreased by -17.0% against 2022 indices. The most prominent rate of growth was recorded in 2021 an increase of 36%. The level of export peaked at $2,344 per ton in 2022; however, from 2023 to 2024, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Finland ($3,259 per ton), while Austria ($1,327 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by France (+5.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the cold-rolled steel products market in the EU. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

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