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

Earlier Report Observations

The market for iron or steel reservoirs and tanks in Portugal saw its volume decline from 17 142 t in 2018 to 16 329 t by 2020, before recovering to 18 282 t in 2024. In value terms, the market demonstrated consistent growth, rising from $66.1 million in 2018 to $83.8 million in 2024, indicating higher unit values over the period.

A key development was the sharp increase in global steel prices in 2021, which more than doubled raw material costs for local manufacturers. This cost pressure squeezed profit margins and contributed to rising product prices, driving the market's value growth. The influence of elevated steel and metal component costs remained a relevant factor for the sector's pricing and profitability into the mid-2020s.

The recovery in physical market volume by 2024 points to resilient underlying demand, supported by a rebound in domestic production to 20 801 t, reflecting the local industry's capacity to meet market needs despite cost challenges.

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

In value, 2018-2021, M $ US

In 2020, the output of iron or steel reservoirs and tanks with a capacity exceeding 300 liters was valued at 102.7 million US dollars in Portugal, showing little change from 2019. Over the three-year period from 2018 to 2020, production grew by 4.3%, with an average annual growth rate of 1.4%.

Annual dynamics of production in Portugal in value, 2018-2021, M $ US

In kind, 2018-2021, t

In 2020, Portugal produced 18,956 tons of iron or steel reservoirs and tanks with a capacity over 300 liters, maintaining stability compared to 2019. From 2018 to 2020, production declined by 13.8%, resulting in an average annual decrease of 4.8%.

Annual dynamics of production in Portugal in kind, 2018-2021, t

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

Exports in kind, t

Following a two-year contraction, Portugal's export volume of iron or steel reservoirs and tanks with a capacity over 300 liters rebounded in 2021, reaching 5,453 tons—a 25.0% increase from 2020. Over the period from 2018 to 2021, exports fell by 17.2%, with an average annual decline of 6.1%. The lowest volume was recorded in 2020 at 4,362 tons, which also saw the steepest drop of 28.9%.

Annual dynamics of product's exports from Portugal in kind, 2018-2021, t

From 2018 to 2021, Spain, France, and Belgium were the primary buyers of iron or steel reservoirs and tanks with a capacity over 300 liters from Portugal, accounting for 69.0% of total exports in volume. Spain led with 30.9%, followed by France at 30.5%, and Belgium at 7.7%.

Structure of product's exports in kind by countries, 2018-2021

World map of product's exports from Portugal in kind, 2018-2021

Exports in value, K $ US

After a two-year decline, the value of iron or steel reservoirs and tanks with a capacity over 300 liters exported from Portugal rose in 2021 to 40,979 thousand US dollars, marking an 18.6% increase from 2020. Between 2018 and 2021, export value decreased by 6.1%, with an average annual reduction of 2.1%. The lowest value was in 2020 at 34,542 thousand US dollars, which also experienced the largest decline of 12.6%.

Annual dynamics of product's exports from Portugal in value, 2018-2021, K $ US

From 2018 to 2021, Spain, France, and Belgium remained the main destinations for Portugal's exports of iron or steel reservoirs and tanks with a capacity over 300 liters in value terms, collectively representing 63.6% of total exports. Spain accounted for 28.0%, France for 26.4%, and Belgium for 9.2%.

Structure of product's exports in value by countries, 2018-2021

World map of product's exports from Portugal in value, 2018-2021

Imports iron or steel reservoirs and tanks with capacity >300 l to Portugal

Imports in kind, t

In 2021, Portugal imported 2,758 tons of iron or steel reservoirs and tanks with a capacity over 300 liters, a sharp 59.0% increase from the previous year. Over the period from 2018 to 2021, imports grew by 59.5%, with an average annual growth rate of 16.8%. The largest decline occurred in 2020, at 29.5%.

Annual dynamics of product's imports to Portugal in kind, 2018-2021, t

Between 2018 and 2021, Spain, the Netherlands, and France were the main sources for Portugal's imports of iron or steel reservoirs and tanks with a capacity over 300 liters in volume, together making up 73.6% of total imports. Spain dominated with 55.0%, followed by the Netherlands at 10.0%, and France at 8.5%.

Structure of product's imports in kind by countries, 2018-2021

World map of product's imports to Portugal in kind, 2018-2021

Imports in value, K $ US

In 2021, Portugal imported iron or steel reservoirs and tanks with a capacity over 300 liters valued at 12,100 thousand US dollars, a 15.7% increase from the previous year. From 2018 to 2021, import value rose by 8.1%, with an average annual growth of 2.6%. The lowest value was recorded in 2020 at 10,451 thousand US dollars, while the highest was in 2019 at 13,543 thousand US dollars. The largest decline of 22.8% occurred in 2020, and the largest increase of 21.0% was in 2019.

Annual dynamics of product's imports to Portugal in value, 2018-2021, K $ US

From 2018 to 2021, Spain, the Netherlands, and France formed the core markets for Portugal's imports of iron or steel reservoirs and tanks with a capacity over 300 liters in value terms, with a combined share of 70.1%. Spain led with 51.0%, followed by the Netherlands at 11.9%, and France at 7.2%.

Structure of product's imports in value by countries, 2018-2021

World map of product's imports to Portugal in value, 2018-2021