Norway: Ferro-Alloys Market 2024

Ferro-Alloys Market Size in Norway

For the third year in a row, the Norwegian ferro-alloys market recorded growth in sales value, which increased by X% to $X in 2023. Over the period under review, the total consumption indicated a perceptible increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption increased by X% against 2020 indices. Ferro-alloys consumption peaked at $X in 2019; however, from 2020 to 2023, consumption failed to regain momentum.

Ferro-Alloys Production in Norway

In value terms, ferro-alloys production totaled $X in 2023 estimated in export price. In general, the total production indicated a tangible expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2021 indices. The pace of growth appeared the most rapid in 2017 when the production volume increased by X%. Ferro-alloys production peaked at $X in 2021; however, from 2022 to 2023, production failed to regain momentum.

Ferro-Alloys Exports

Exports from Norway

In 2023, overseas shipments of ferro-alloys decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. Overall, exports continue to indicate a slight contraction. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2016; however, from 2017 to 2023, the exports remained at a lower figure.

In value terms, ferro-alloys exports reduced notably to $X in 2023. In general, exports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2022, and then reduced markedly in the following year.

Exports by Country

The Netherlands (X tons), Germany (X tons) and the United States (X tons) were the main destinations of ferro-alloys exports from Norway, together comprising X% of total exports. Spain, Poland, Turkey, Sweden, Finland, the UK, Canada, Belgium, France and Brazil lagged somewhat behind, together comprising a further X%.

From 2012 to 2023, the biggest increases were recorded for Spain (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X) remains the key foreign market for ferro-alloys exports from Norway, comprising X% of total exports. The second position in the ranking was taken by the United States ($X), with a X% share of total exports. It was followed by Germany, with a X% share.

From 2012 to 2023, the average annual growth rate of value to the Netherlands was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Germany (X% per year).

Export Prices by Country

In 2023, the average ferro-alloys export price amounted to $X per ton, shrinking by X% against the previous year. In general, export price indicated a mild expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, ferro-alloys export price increased by X% against 2020 indices. The pace of growth was the most pronounced in 2017 when the average export price increased by X%. The export price peaked at $X per ton in 2022, and then reduced markedly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Brazil ($X per ton), while the average price for exports to France ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Brazil (X%), while the prices for the other major destinations experienced more modest paces of growth.

Ferro-Alloys Imports

Imports into Norway

In 2023, supplies from abroad of ferro-alloys decreased by X% to X tons, falling for the second consecutive year after two years of growth. Overall, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2022 to 2023, the growth of imports remained at a lower figure.

In value terms, ferro-alloys imports shrank significantly to $X in 2023. Over the period under review, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2022 to 2023, the growth of imports remained at a lower figure.

Imports by Country

Ukraine (X tons), France (X tons) and China (X tons) were the main suppliers of ferro-alloys imports to Norway, together comprising X% of total imports. Hong Kong SAR, the Netherlands, Georgia, Sweden and Spain lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Hong Kong SAR (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest ferro-alloys suppliers to Norway were France ($X), Ukraine ($X) and Sweden ($X), together accounting for X% of total imports. China, the Netherlands, Hong Kong SAR, Georgia and Spain lagged somewhat behind, together comprising a further X%.

Hong Kong SAR, with a CAGR of X%, recorded 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 ferro-alloys import price stood at $X per ton in 2023, declining by X% against the previous year. Overall, the import price continues to indicate a slight curtailment. The most prominent rate of growth was recorded in 2021 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2022, and then fell markedly in the following year.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Russia (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform