Boring and broaching tools market in Finland

Earlier Report Observations

The market for boring and broaching tools in Finland experienced significant fluctuations between 2018 and 2024. After a sharp increase to 1.7 million US dollars in 2019, the market contracted in 2020 before recovering to 1.5 million US dollars in 2021. From 2022 onward, the market size stabilized around 1.5 million US dollars, with minor declines each year.

Domestic production saw a notable surge in 2021, reaching 706 thousand US dollars, but dropped sharply the following year to 317 thousand US dollars. Imports and exports also showed volatility, with imports peaking at 1.6 million US dollars in 2022 and exports varying widely, affecting the net market volume.

In 2024, the industry was shaped by the adoption of artificial intelligence in manufacturing processes and the introduction of new modular precision tools, such as the TTS-connected tool developed by MAPAL and HEULE Precision Tools, which enhance efficiency and cater to evolving industrial demands.

Production boring and broaching tools in Finland

In value, 2017-2020, K $ US

Finland's production of boring and broaching tools has declined for the third year in a row. In 2020, output was valued at 489.2 K $ US, showing a slight reduction of 0.7% compared to the previous year. Between 2017 and 2020, production decreased by 13.4%, which translates to an annualized rate of 4.7%.

Annual dynamics of production in Finland in value, 2017-2020, K $ US

In kind, 2017-2020, kg

In 2020, Finland produced 3 247 kg of boring and broaching tools, marking a significant decrease of 18.8% from the year before.

Annual dynamics of production in Finland in kind, 2017-2020, kg

Exports boring and broaching tools from Finland

Exports in kind, kg

The market performance showed noticeable fluctuations during this period. Exports reached their lowest point in 2019 at 441 kg, then peaked in 2018 at 11 894 kg — a 27-fold difference between these years. In 2020, Finland exported 1 425 kg of boring and broaching tools, indicating a sharp rise of 223.2% from 2019. The largest decline occurred in 2019, falling by 96.3%, while the largest increase was in 2018, surging by 1 316.5%.

Annual dynamics of product's exports from Finland in kind, 2017-2020, kg

From 2017 to 2020, Poland dominated the export structure in kind, accounting for 70.2% of total flows, with other markets playing a less significant role.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Finland in kind, 2017-2020

Exports in value, K $ US

The market exhibited volatility over the observed period. Exports hit a low in 2019 at 94 K $ US and a high in 2018 at 468 K $ US — a fivefold variation. In 2020, cross-border shipments of boring and broaching tools from Finland totaled 271 K $ US, representing a 188.9% increase compared to 2019. The largest decline was recorded in 2019, dropping by 80.0%.

Annual dynamics of product's exports from Finland in value, 2017-2020, K $ US

Between 2017 and 2020, China, Poland, and Germany led the export structure in value terms, with shares of 28.8%, 27.8%, and 15.8%, respectively. Together, they accounted for 72.4% of total flows.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Finland in value, 2017-2020

Imports boring and broaching tools to Finland

Imports in kind, kg

The market displayed volatility during this period. Imports fell to their lowest point in 2019 at 5 398 kg and rose to a peak in 2020 at 14 704 kg — a 2.7-fold difference. In 2020, Finland's import volume of boring and broaching tools totaled 14 704 kg, corresponding to a sharp increase of 172.4% from 2019. The largest decline occurred in 2019, decreasing by 49.0%.

Annual dynamics of product's imports to Finland in kind, 2017-2020, kg

From 2017 to 2020, China, Germany, and France were the main sources for imports in kind, with shares of 47.4%, 24.8%, and 5.1%, respectively. Together, they made up 77.2% of total imports.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Finland in kind, 2017-2020

Imports in value, K $ US

After two years of growth, Finland's import volume of boring and broaching tools declined. In 2020, imports amounted to 1 074 K $ US, down by 18.2% from the previous year. Over the period from 2017 to 2020, imports increased by 21.4%, with a compound annual growth rate of 6.7%. The maximum value was recorded in 2019 at 1 312 K $ US, and the largest increase occurred in 2018, rising by 31.6%.

Annual dynamics of product's imports to Finland in value, 2017-2020, K $ US

Throughout 2017–2020, Germany, Italy, and China were the three largest markets for imports in value terms, collectively accounting for 64.0% of total flows.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Finland in value, 2017-2020