Iron or steel fasteners market in Finland

Earlier Report Observations

The market for iron or steel fasteners in Finland experienced considerable movement between 2018 and 2024. Starting at $159.8 million, market size dipped to $147.0 million in 2019 before recovering to $151.9 million in 2020. A strong upward trend followed, with the market reaching $172.8 million in 2021 and peaking at $211.6 million in 2022, largely fueled by imports which grew to $250.9 million that same year. Over this period, domestic production showed initial growth but began a decline after 2020.

The market contraction began in 2023, with size falling sharply to $155.1 million, and continued to $145.1 million in 2024. Imports followed a similar pattern, dropping from their 2022 high to $173.7 million in 2024. Domestic production, after falling to a low of $31.6 million in 2023, saw a modest recovery to $34.6 million in the final year.

The decline in 2024 was shaped by weak international demand and production challenges within the steel industry, which dampened overall demand for fasteners. Preparations for a major construction law reform, effective from 2025, introduced regulatory uncertainties that slowed construction activity and consumption. Furthermore, restrictions on imports of iron and steel products from Russia affected supply chains and contributed to the reduction in import volumes.

Production iron or steel fasteners in Finland

In value, 2017-2020, K $ US

Finland's production of iron or steel fasteners increased for the second consecutive year. In 2020, output was valued at 52 898 thousand US dollars, showing a moderate year-over-year increase of 3.4%. Over the period from 2017 to 2020, production decreased by 18.6%, with a compound annual growth rate of -6.6%. The lowest value was recorded in 2018 at 50 361 thousand US dollars, which also saw the largest decline of 22.5%.

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

In kind, 2017-2020, t

Iron or steel fasteners production in Finland declined for the second consecutive year. In 2020, 13 562 tonnes were produced, indicating a modest contraction of 3.3% compared to the previous year. From 2017 to 2020, production decreased by 32.1%, with a compound annual growth rate of -12.1%.

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

Exports iron or steel fasteners from Finland

Exports in kind, t

The data reveals irregular changes, pointing to a volatile market environment. Exports reached their lowest point in 2019 and peaked in 2020, with a 42-fold difference between these years. In 2020, Finland's export volume of iron or steel fasteners amounted to 12 824 tonnes, up by 4,067.4% compared to 2019. The minimum value was recorded in 2019 at 308 tonnes, which also saw the largest decline of 97.6%.

Annual dynamics of product's exports from Finland in kind, 2017-2020, t

From 2017 to 2020, Norway, Sweden, and Estonia were the main destinations for iron or steel fasteners from Finland, accounting for 56.6% of total exports in kind. Specifically, Norway contributed 26.0%, Sweden 20.4%, and Estonia 10.3%.

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, M $ US

Cross-border shipments of iron or steel fasteners from Finland declined for the second consecutive year. In 2020, exports were valued at 65.6 million US dollars, showing a slight year-over-year loss of 0.9%. Between 2017 and 2020, exports increased by 13.3%, equating to an annualized rate of 4.3%. The maximum value was recorded in 2018 at 67.0 million US dollars, which also saw the largest increase of 15.9%. The largest decline occurred in 2019 at 1.3%.

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

From 2017 to 2020, Sweden, Norway, and Estonia formed the largest group of buyers of iron or steel fasteners from Finland in value terms. Sweden accounted for 15.7% of exports, Norway for 14.7%, and Estonia for 12.9%. However, their combined contribution was limited to 43.3% of total exports, reflecting a diversified country structure.

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

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

Imports iron or steel fasteners to Finland

Imports in kind, t

The data reveals irregular changes, indicating a volatile market environment. Imports reached their lowest point in 2019 and peaked in 2018, with an 8.7-fold variation between these years. In 2020, Finland's import volume of iron or steel fasteners totalled 36 103 tonnes, up by 679.3% compared to the previous year. The minimum value was recorded in 2019 at 4 633 tonnes, which also saw the largest decline of 88.5%. The maximum value was recorded in 2018 at 40 149 tonnes.

Annual dynamics of product's imports to Finland in kind, 2017-2020, t

From 2017 to 2020, Asia (not elsewhere specified), Germany, and China remained the principal suppliers of iron or steel fasteners to Finland, jointly accounting for 62.8% of total imports in kind. Specifically, Asia contributed 23.4%, Germany 20.9%, and China 18.6%.

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, M $ US

In 2020, Finland's imports of iron or steel fasteners reached 164.5 million US dollars, indicating a gain of 1.6% compared with 2019. Between 2017 and 2020, imports increased by 6.1%, equating to an annualized rate of 2.0%. The maximum value was recorded in 2018 at 176.5 million US dollars, which also saw the largest increase of 13.9%. The largest decline occurred in 2019 at 8.3%.

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

From 2017 to 2020, Germany, Asia (not elsewhere specified), and China together accounted for 56.9% of total imports in value terms, remaining the main sources for iron or steel fasteners to Finland. Specifically, Germany contributed 30.3%, Asia 15.8%, and China 10.8%.

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

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