Agglomerated Powder Rod Market's Global Value to Reach $15.3 Billion and Volume 1.5 Million Tons by 2035

IndexBox has just published a new report: World - Base Metal Wire And Rods Of Agglomerated Base Powder - Market Analysis, Forecast, Size, Trends And Insights.

The article provides a comprehensive analysis of the global market for base metal wire and rods made from agglomerated base powder. It reports that in 2024, global consumption reached 1.2 million tons, valued at $12.3 billion, with China being the largest consumer by volume and the United States the largest by value. Production was similarly at 1.2 million tons, led by China. Global trade saw imports of 89K tons and exports of 79K tons. The market is forecast to grow to 1.5 million tons and $15.3 billion by 2035, albeit at a decelerating pace. The analysis details consumption and production by country, major trade flows, and price trends for imports and exports.

Key Findings

• Global market is forecast to reach 1.5M tons and $15.3B by 2035, indicating continued growth
• China is the leading consumer and producer by volume, while the United States leads in market value
• Global import and export volumes declined from previous peaks, standing at 89K tons and 79K tons respectively in 2024
• Turkey, South Korea, and the United States had the highest per capita consumption levels
• Significant price disparities exist in trade, with Thailand's import price over six times higher than Saudi Arabia's

Market Forecast

Driven by increasing demand for base metal wire and rods of agglomerated base powder worldwide, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +1.8% for the period from 2024 to 2035, which is projected to bring the market volume to 1.5M tons by the end of 2035.

In value terms, the market is forecast to increase with an anticipated CAGR of +2.0% for the period from 2024 to 2035, which is projected to bring the market value to $15.3B (in nominal wholesale prices) by the end of 2035.

Consumption

World's Consumption of Base Metal Wire And Rods Of Agglomerated Base Powder

Global agglomerated powder rod consumption reached 1.2M tons in 2024, remaining constant against the previous year's figure. The total consumption volume increased at an average annual rate of +2.6% over the period from 2013 to 2024; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. Global consumption peaked in 2024 and is expected to retain growth in years to come.

The global agglomerated powder rod market size rose sharply to $12.3B in 2024, growing by 8.4% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated buoyant growth from 2013 to 2024: its value increased at an average annual rate of +5.1% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, consumption increased by +73.6% against 2013 indices. Over the period under review, the global market hit record highs in 2024 and is likely to continue growth in the near future.

Consumption By Country

China (294K tons) constituted the country with the largest volume of agglomerated powder rod consumption, comprising approx. 24% of total volume. Moreover, agglomerated powder rod consumption in China exceeded the figures recorded by the second-largest consumer, the United States (130K tons), twofold. India (115K tons) ranked third in terms of total consumption with a 9.5% share.

From 2013 to 2024, the average annual rate of growth in terms of volume in China totaled +3.0%. The remaining consuming countries recorded the following average annual rates of consumption growth: the United States (+1.0% per year) and India (+3.0% per year).

In value terms, the United States ($4.3B) led the market, alone. The second position in the ranking was held by Japan ($2.1B). It was followed by China.

From 2013 to 2024, the average annual growth rate of value in the United States totaled +7.3%. The remaining consuming countries recorded the following average annual rates of market growth: Japan (+5.6% per year) and China (+4.3% per year).

The countries with the highest levels of agglomerated powder rod per capita consumption in 2024 were Turkey (513 kg per 1000 persons), South Korea (471 kg per 1000 persons) and the United States (384 kg per 1000 persons).

From 2013 to 2024, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by Turkey (with a CAGR of +4.8%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World's Production of Base Metal Wire And Rods Of Agglomerated Base Powder

In 2024, global agglomerated powder rod production amounted to 1.2M tons, with an increase of 1.8% on 2023. The total output volume increased at an average annual rate of +3.0% from 2013 to 2024; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2014 with an increase of 6.4%. Global production peaked in 2024 and is expected to retain growth in years to come.

In value terms, agglomerated powder rod production rose remarkably to $12.9B in 2024 estimated in export price. Over the period under review, the total production indicated resilient growth from 2013 to 2024: its value increased at an average annual rate of +6.3% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, production increased by +96.7% against 2013 indices. The pace of growth was the most pronounced in 2017 when the production volume increased by 19% against the previous year. Over the period under review, global production reached the peak level in 2024 and is expected to retain growth in the near future.

Production By Country

China (303K tons) remains the largest agglomerated powder rod producing country worldwide, comprising approx. 25% of total volume. Moreover, agglomerated powder rod production in China exceeded the figures recorded by the second-largest producer, the United States (126K tons), twofold. India (114K tons) ranked third in terms of total production with a 9.5% share.

From 2013 to 2024, the average annual growth rate of volume in China amounted to +3.2%. In the other countries, the average annual rates were as follows: the United States (+0.8% per year) and India (+3.0% per year).

Imports

World's Imports of Base Metal Wire And Rods Of Agglomerated Base Powder

In 2024, purchases abroad of base metal wire and rods of agglomerated base powder decreased by -6.3% to 89K tons, falling for the second consecutive year after two years of growth. Over the period under review, imports saw a pronounced descent. The growth pace was the most rapid in 2022 with an increase of 12% against the previous year. Over the period under review, global imports hit record highs at 147K tons in 2014; however, from 2015 to 2024, imports failed to regain momentum.

In value terms, agglomerated powder rod imports shrank to $579M in 2024. In general, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 23% against the previous year. Global imports peaked at $631M in 2023, and then reduced in the following year.

Imports By Country

In 2024, Mexico (14K tons), distantly followed by the Netherlands (6K tons), the United States (5.9K tons) and Saudi Arabia (4.5K tons) represented the key importers of base metal wire and rods of agglomerated base powder, together constituting 35% of total imports. Spain (3.4K tons), Portugal (3.1K tons), the Philippines (3K tons), Thailand (2.9K tons), Poland (2.4K tons) and Malaysia (2.2K tons) followed a long way behind the leaders.

Mexico experienced a relatively flat trend pattern with regard to volume of imports of base metal wire and rods of agglomerated base powder. At the same time, Thailand (+18.9%), Portugal (+6.6%), the Netherlands (+5.0%), Malaysia (+4.7%) and Saudi Arabia (+2.8%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing importer imported in the world, with a CAGR of +18.9% from 2013-2024. The United States, Poland and Spain experienced a relatively flat trend pattern. By contrast, the Philippines (-7.2%) illustrated a downward trend over the same period. Mexico (+6.4 p.p.), the Netherlands (+4.1 p.p.), Thailand (+2.9 p.p.), Saudi Arabia (+2.6 p.p.), the United States (+2.3 p.p.) and Portugal (+2.3 p.p.) significantly strengthened its position in terms of the global imports, while the Philippines saw its share reduced by -1.7% from 2013 to 2024, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest agglomerated powder rod importing markets worldwide were the Netherlands ($68M), the United States ($56M) and Mexico ($51M), together comprising 30% of global imports. Thailand, Poland, Malaysia, the Philippines, Spain, Saudi Arabia and Portugal lagged somewhat behind, together comprising a further 22%.

In terms of the main importing countries, Thailand, with a CAGR of +14.0%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average agglomerated powder rod import price stood at $6,496 per ton in 2024, which is down by -2.1% against the previous year. Overall, import price indicated a measured increase from 2013 to 2024: its price increased at an average annual rate of +3.7% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, agglomerated powder rod import price increased by +79.4% against 2014 indices. The growth pace was the most rapid in 2018 an increase of 14% against the previous year. Global import price peaked at $6,634 per ton in 2023, and then fell slightly in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2024, amid the top importers, the country with the highest price was Thailand ($14,945 per ton), while Saudi Arabia ($2,279 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Poland (+7.5%), while the other global leaders experienced more modest paces of growth.

Exports

World's Exports of Base Metal Wire And Rods Of Agglomerated Base Powder

In 2024, shipments abroad of base metal wire and rods of agglomerated base powder was finally on the rise to reach 79K tons for the first time since 2021, thus ending a two-year declining trend. Overall, exports, however, recorded a slight reduction. The most prominent rate of growth was recorded in 2021 when exports increased by 26%. The global exports peaked at 96K tons in 2013; however, from 2014 to 2024, the exports failed to regain momentum.

In value terms, agglomerated powder rod exports rose modestly to $549M in 2024. In general, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 28% against the previous year. The global exports peaked at $553M in 2022; however, from 2023 to 2024, the exports failed to regain momentum.

Exports By Country

The biggest shipments were from Italy (12K tons), Greece (11K tons) and China (9.6K tons), together reaching 41% of total export. It was distantly followed by Poland (4.9K tons), Malaysia (4.9K tons), Vietnam (4.7K tons) and Canada (3.7K tons), together achieving a 23% share of total exports. Thailand (3.3K tons), the Netherlands (2.5K tons) and Portugal (2K tons) followed a long way behind the leaders.

From 2013 to 2024, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Vietnam (with a CAGR of +64.1%), while the other global leaders experienced more modest paces of growth.

In value terms, China ($41M), Vietnam ($39M) and Italy ($29M) were the countries with the highest levels of exports in 2024, with a combined 20% share of global exports.

In terms of the main exporting countries, Vietnam, with a CAGR of +59.1%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2024, the average agglomerated powder rod export price amounted to $6,910 per ton, approximately mirroring the previous year. Over the period from 2013 to 2024, it increased at an average annual rate of +1.8%. The pace of growth appeared the most rapid in 2018 an increase of 12% against the previous year. Over the period under review, the average export prices hit record highs in 2024 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2024, amid the top suppliers, the country with the highest price was Vietnam ($8,324 per ton), while Malaysia ($1,180 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Portugal (+4.0%), while the other global leaders experienced more modest paces of growth.