Iron or steel reservoirs and tanks with capacity >300 l market in Finland

Earlier Report Observations

The market for iron or steel reservoirs and tanks in Finland experienced a period of substantial expansion from 2018 to 2022. In value terms, the market size increased from 111.7 million USD to 165.1 million USD, representing growth of over 47%. This upward trend was mirrored in physical volume, where the market grew from 15 237 tons in 2019 to 21 735 tons in 2022.

A significant reversal occurred in 2023, with the market contracting sharply to 112.3 million USD in value and 14 420 tons in volume. This downturn coincided with a major drop in domestic production, which fell to 10 650 tons. The market showed signs of recovery in 2024, with the value rising to 124.7 million USD.

Production iron or steel reservoirs and tanks with capacity >300 l in Finland

In value, 2017-2020, M $ US

Finland's production of iron or steel reservoirs and tanks with a capacity exceeding 300 liters has increased for the second consecutive year. In 2020, the output was valued at 142.2 million US dollars, marking a 3.2% rise compared to 2019. Over the period from 2017 to 2020, production grew by 20%, which translates to an annualized rate of 6.3%. The lowest value was recorded in 2018 at 107.8 million US dollars, with the largest decline of 9.0% occurring that same year. In contrast, the largest increase of 27.9% was observed in 2019.

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

In kind, 2017-2020, t

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

Exports iron or steel reservoirs and tanks with capacity >300 l from Finland

Exports in kind, t

Exports of iron or steel reservoirs and tanks with a capacity exceeding 300 liters from Finland have declined for the third consecutive year. In 2020, exports totaled 1,349 tonnes, representing a sharp decrease of 41.9% compared to 2019. From 2017 to 2020, exports fell by 80.4%, with a compound annual growth rate of -41.9%.

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

Between 2017 and 2020, three key markets—Sweden, Russia, and Iran—collectively accounted for 66.6% of Finland's total exports in kind of iron or steel reservoirs and tanks with a capacity exceeding 300 liters.

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

In 2020, exports of iron or steel reservoirs and tanks with a capacity exceeding 300 liters from Finland amounted to 17,605 thousand US dollars, which is 11.2% lower than in 2019. From 2017 to 2020, exports decreased by 44.7%, equating to an annualized rate of -17.9%. The largest decline of 40.2% was recorded in 2018, while the largest increase of 4.2% occurred in 2019.

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

Between 2017 and 2020, Sweden, Saudi Arabia, and the Democratic Republic of the Congo led the export structure in value terms, representing 45.0%, 9.8%, and 8.6% of exports, respectively. Together, these three countries accounted for 63.5% of total export 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 iron or steel reservoirs and tanks with capacity >300 l to Finland

Imports in kind, t

The import market for iron or steel reservoirs and tanks with a capacity exceeding 300 liters showed significant volatility during these years. In 2019, imports dropped to their lowest point at 30 tonnes, with the largest decline of 99.4% recorded that year. By 2020, imports peaked at 5,584 tonnes, reflecting a dramatic increase of 18,705.5% compared to the previous year, resulting in a top-to-bottom ratio of 188 times between the two years.

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

From 2017 to 2020, Estonia, Lithuania, and China remained the main suppliers of iron or steel reservoirs and tanks with a capacity exceeding 300 liters to Finland, accounting for 18.4%, 17.0%, and 16.4% of imports in kind, respectively. Together, they formed 51.9% of total imports in kind.

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

In 2020, Finland imported 29,815 thousand US dollars worth of iron or steel reservoirs and tanks with a capacity exceeding 300 liters, up by 39.0% compared to the previous year. Over the period from 2017 to 2020, imports increased by 73.3%, with a compound annual growth rate of 20.1%. The largest decline of 6.8% was recorded in 2019.

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

Between 2017 and 2020, imports in value terms of iron or steel reservoirs and tanks with a capacity exceeding 300 liters to Finland were distributed across many countries. Lithuania, China, and Estonia were the top contributors, accounting for 18.9%, 12.6%, and 12.6% of imports, respectively. However, together they represented only 44.1% of total import flows.

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

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