Iron or steel threaded fasteners market in Finland

Earlier Report Observations

The Finnish market for iron or steel threaded fasteners displayed considerable volatility in value between 2018 and 2024. It began at 138 million US dollars in 2018, dipped to 129 million in 2019, and then followed a gradual recovery path to reach 141 million by 2021. A sharp expansion to 176 million dollars occurred in 2022, marking the peak for the period, before a steep correction brought the market size down to 132 million in 2023.

The market contraction continued into 2024, falling to 119 million dollars. This decline coincided with new national regulations, including amendments to industrial peace legislation effective from May 2024, which altered labor relations in manufacturing, and revisions to the Vehicle Act from June 2024 that introduced new rules for vehicle modifications, potentially dampening demand for fasteners in the automotive aftermarket.

Production iron or steel threaded fasteners in Finland

In value, 2017-2020, K $ US

Finland's production of iron or steel threaded fasteners increased for the second consecutive year in 2020, reaching a value of 52 604 thousand US dollars. This represents a 3.4% rise compared to the previous year. However, looking at the broader period from 2017 to 2020, production actually declined by 18.9%, which translates to an average annual decrease of 6.7%. The lowest production value was recorded in 2018 at 50 238 thousand US dollars, with the largest year-on-year drop of 22.5% also occurring that year.

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

In kind, 2017-2020, t

Following a two-year decline, Finland's production of iron or steel threaded fasteners saw a modest increase in 2020, reaching 14 062 tonnes. This marked a 3.8% rise compared to 2019. Over the period from 2017 to 2020, however, production decreased by 29.6%, averaging an 11.0% annual decline. The lowest output was recorded in 2019 at 13 546 tonnes, with the most significant drop of 29.8% occurring in 2018.

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

Exports iron or steel threaded fasteners from Finland

Exports in kind, t

The export volumes of iron or steel threaded fasteners from Finland showed significant fluctuations during this period. In 2019, exports hit their lowest point at just 248 tonnes, representing a 97.8% decline from the previous year. However, by 2020, exports surged dramatically to 11 660 tonnes, marking an extraordinary 4 594.1% increase compared to 2019. The difference between the peak in 2020 and the trough in 2019 was a remarkable 47-fold.

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

From 2017 to 2020, Norway, Sweden, and Russia consistently served as the primary destinations for Finland's exports of iron or steel threaded fasteners by volume. Norway accounted for 25.5% of these exports, Sweden for 19.8%, and Russia for 10.3%. Together, these three markets represented 55.5% of Finland's total export flows in this category.

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

In 2020, Finland's exports of iron or steel threaded fasteners were valued at 56.8 million US dollars, showing only a slight variation compared to 2019. Over the period from 2017 to 2020, exports increased by 11.8%, with a compound annual growth rate of 3.8%. The highest export value was recorded in 2018 at 59.0 million US dollars, which also saw the largest increase of 16.2%. In contrast, 2019 experienced the most significant decline of 4.0%.

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

Between 2017 and 2020, Sweden, Norway, and Estonia emerged as the largest buyers of iron or steel threaded fasteners from Finland in value terms. Sweden accounted for 16.4% of export value, Norway for 14.8%, and Estonia for 12.4%. Together, these three countries represented 43.5% of Finland's total export value in this category, with numerous smaller partners making up the remainder.

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 threaded fasteners to Finland

Imports in kind, t

Import volumes of iron or steel threaded fasteners into Finland displayed considerable volatility during this period. In 2018, imports peaked at 35 337 tonnes, but then plummeted to 4 523 tonnes in 2019, marking an 87.2% decline. By 2020, imports rebounded sharply to 31 915 tonnes, representing a 605.5% increase compared to 2019. The difference between the 2018 peak and the 2019 trough was a substantial 7.8-fold.

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

From 2017 to 2020, the primary sources for Finland's imports of iron or steel threaded fasteners by volume were Asia (not elsewhere specified), China, and Germany. Asia accounted for 25.9% of imports, China for 19.0%, and Germany for 17.9%. Collectively, these three regions represented 62.7% of Finland's total import flows in this category.

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 threaded fasteners were valued at 135.3 million US dollars, showing minimal change compared to the previous year. Over the period from 2017 to 2020, imports increased by 3.9%, with a compound annual growth rate of 1.3%. The highest import value was recorded in 2018 at 146.8 million US dollars, which also saw the largest increase of 12.7%. In contrast, 2019 experienced the most significant decline of 8.1%.

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

Between 2017 and 2020, three key markets—Germany, Asia (not elsewhere specified), and China—collectively accounted for 57.6% of the total import value of iron or steel threaded fasteners into Finland.

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

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