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U.S. - Stranded Wire, Ropes And Cables - Market Analysis, Forecast, Size, Trends and Insights
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Article Publishing Date: May 26, 2023
Stranded Wire Import in United States Increases Dramatically to $173M in March 2023
U.S. Stranded Wire Imports
Stranded wire imports into the United States soared to 56K tons in March 2023, with an increase of 18% on the month before. The total import volume increased at an average monthly rate of +1.0% from March 2022 to March 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in April 2022 when imports increased by 35% against the previous month.
In value terms, stranded wire imports surged to $173M (IndexBox estimates) in March 2023. The total import value increased at an average monthly rate of +1.3% over the period from March 2022 to March 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain months. The most prominent rate of growth was recorded in April 2022 with an increase of 27% against the previous month.
| COUNTRY | Import Value of Stranded Wire in U.S. (million USD) | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Mar 2022 | Apr 2022 | May 2022 | Jun 2022 | Jul 2022 | Aug 2022 | Sep 2022 | Oct 2022 | Nov 2022 | Dec 2022 | Jan 2023 | Feb 2023 | Mar 2023 | |
| India | 5.3 | 9.0 | 11.0 | 6.3 | 12.2 | 10.8 | 20.7 | 28.5 | 23.7 | 27.6 | 24.9 | 17.9 | 37.4 |
| Mexico | 22.0 | 21.5 | 27.7 | 25.2 | 26.1 | 22.6 | 20.5 | 19.9 | 15.5 | 14.7 | 16.0 | 15.8 | 17.7 |
| Vietnam | 15.6 | 23.6 | 15.6 | 17.6 | 19.0 | 19.5 | 21.0 | 28.4 | 21.5 | 20.2 | 24.6 | 16.7 | 16.2 |
| Bahrain | 6.1 | 12.1 | 9.9 | 1.3 | 4.2 | 10.6 | 10.8 | 12.8 | 14.3 | 12.8 | 13.9 | 7.8 | 14.2 |
| China | 19.2 | 21.9 | 18.1 | 20.5 | 17.3 | 21.4 | 18.9 | 21.6 | 18.1 | 17.7 | 14.6 | 14.7 | 12.7 |
| South Korea | 10.9 | 10.5 | 12.3 | 12.6 | 11.0 | 15.2 | 13.6 | 12.6 | 14.6 | 10.6 | 15.1 | 10.6 | 10.4 |
| Turkey | 6.1 | 8.8 | 7.5 | 10.8 | 7.9 | 10.5 | 13.6 | 12.0 | 13.1 | 11.3 | 10.8 | 11.5 | 7.5 |
| Thailand | 6.3 | 16.6 | 14.1 | 18.0 | 13.5 | 10.7 | 9.7 | 20.0 | 5.4 | 7.3 | 8.0 | 5.7 | 6.4 |
| Canada | 9.0 | 9.3 | 7.2 | 6.7 | 6.7 | 6.9 | 5.4 | 5.6 | 5.2 | 3.6 | 7.3 | 4.6 | 6.3 |
| Indonesia | 2.7 | 7.7 | 4.0 | 4.8 | 2.5 | 4.9 | 6.2 | 3.4 | 1.0 | 3.0 | 4.7 | 3.1 | 4.8 |
| Romania | 3.4 | 2.7 | 4.8 | 5.0 | 2.9 | 4.8 | 5.2 | 3.2 | 5.7 | 5.5 | 2.6 | 4.4 | 4.7 |
| Malaysia | 5.9 | 6.4 | 7.0 | 7.9 | 7.4 | 6.5 | 7.6 | 4.4 | 4.6 | 5.2 | 4.8 | 3.2 | 3.7 |
| Portugal | 2.9 | 7.8 | 6.8 | 5.7 | 7.3 | 7.5 | 8.2 | 5.4 | 3.2 | 2.5 | 3.6 | 2.4 | 3.3 |
| Others | 33.5 | 31.1 | 29.0 | 33.2 | 35.4 | 38.3 | 37.0 | 37.3 | 34.9 | 28.3 | 29.9 | 24.4 | 27.5 |
| Total | 149 | 189 | 175 | 176 | 173 | 190 | 198 | 215 | 181 | 170 | 181 | 143 | 173 |
Imports by Country
India (11K tons), Vietnam (9.1K tons) and China (4.8K tons) were the main suppliers of stranded wire imports to the United States, with a combined 45% share of total imports.
From March 2022 to March 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of +18.2%), while imports for the other leaders experienced more modest paces of growth.
In value terms, India ($37M) constituted the largest supplier of stranded wire to the United States, comprising 22% of total imports. The second position in the ranking was taken by Mexico ($18M), with a 10% share of total imports. It was followed by Vietnam, with a 9.4% share.
From March 2022 to March 2023, the average monthly growth rate of value from India amounted to +17.6%. The remaining supplying countries recorded the following average monthly rates of imports growth: Mexico (-1.8% per month) and Vietnam (+0.3% per month).
Imports by Type
Stranded wire, ropes, cables, plaited bands, slings and the like, of iron or steel, not electrically insulated (37K tons), aluminium; stranded wire, cables, plaited bands and the like, (not electrically insulated) (19K tons) and copper stranded wire, cables and plaited bands (517 tons) were the main products of stranded wire imports to the United States.
From March 2022 to March 2023, the most notable rate of growth in terms of purchases, amongst the major product types, was attained by aluminium; stranded wire, cables, plaited bands and the like, (not electrically insulated) (with a CAGR of +8.6%), while imports for the other products experienced mixed trend patterns.
In value terms, stranded wire, ropes, cables, plaited bands, slings and the like, of iron or steel, not electrically insulated ($96M), aluminium; stranded wire, cables, plaited bands and the like, (not electrically insulated) ($70M) and copper stranded wire, cables and plaited bands ($7.3M) were the most imported types of stranded wire, ropes and cables in the United States.
Import Prices by Country
In March 2023, the stranded wire price amounted to $3,089 per ton (CIF, US), surging by 3.2% against the previous month. Over the period under review, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in November 2022 an increase of 9.5% month-to-month. As a result, import price attained the peak level of $3,218 per ton. From December 2022 to March 2023, the average import prices remained at a lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was Canada ($4,551 per ton), while the price for Malaysia ($1,276 per ton) was amongst the lowest.
From March 2022 to March 2023, the most notable rate of growth in terms of prices was attained by Turkey (+2.1%), while the prices for the other major suppliers experienced more modest paces of growth.
This report provides an in-depth analysis of the stranded wire market in the U.S.. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
• Prodcom 25931130 - Iron or steel stranded wire, ropes and cables (including stranded wires and wire ropes with or without attached fittings not electrically insulated) (excluding electrically insulated)
• Prodcom 25931150 - Iron or steel plaited bands, slings and the like (excluding electrically insulated)
• Prodcom 25931250 - Copper stranded wire, cables, plaited bands and the like excluding electrically insulated, barbed wire and loosely twisted non-barbed double fencing wire, insulated electric wire and cables
• Prodcom 25931270 - Aluminium stranded wire, cables, plaited bands and the like excluding electrically insulated, barbed wire and loosely twisted non-barbed double fencing wire, insulated electric wire and cables
Country coverage:
• United States
Data coverage:
• Market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Trade (exports and imports) in the U.S.
• Export and import prices
• Market trends, drivers and restraints
• Key market players and their profiles
Reasons to buy this report:
• Take advantage of the latest data
• Find deeper insights into current market developments
• Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
2.1
KEY FINDINGS
2.2
MARKET TRENDS
This Chapter is Available Only for the Professional Edition
PRO
3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
3.1
MARKET SIZE
3.2
MARKET STRUCTURE
3.3
TRADE BALANCE
3.4
PER CAPITA CONSUMPTION
3.5
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
7.1
PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
8.1
IMPORTS FROM 2012–2022
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
9.1
EXPORTS FROM 2012–2022
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
LIST OF TABLES
Table 1:
Key Findings In 2022
Table 2:
Market Volume, In Physical Terms, 2012–2022
Table 3:
Market Value, 2012–2022
Table 4:
Per Capita Consumption In 2012-2022
Table 5:
Imports, In Physical Terms, By Country, 2012–2022
Table 6:
Imports, In Value Terms, By Country, 2012–2022
Table 7:
Import Prices, By Country Of Origin, 2012–2022
Table 8:
Exports, In Physical Terms, By Country, 2012–2022
Table 9:
Exports, In Value Terms, By Country, 2012–2022
Table 10:
Export Prices, By Country Of Destination, 2012–2022
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2012–2022
Figure 2:
Market Value, 2012–2022
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2022
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2022
Figure 5:
Trade Balance, In Physical Terms, 2012-2022
Figure 6:
Trade Balance, In Value Terms, 2012-2022
Figure 7:
Per Capita Consumption, 2012-2022
Figure 8:
Market Volume Forecast to 2030
Figure 9:
Market Value Forecast to 2030
Figure 10:
Products: Market Size And Growth, By Type
Figure 11:
Products: Average Per Capita Consumption, By Type
Figure 12:
Products: Exports And Growth, By Type
Figure 13:
Products: Export Prices And Growth, By Type
Figure 14:
Production Volume And Growth
Figure 15:
Exports And Growth
Figure 16:
Export Prices And Growth
Figure 17:
Market Size And Growth
Figure 18:
Per Capita Consumption
Figure 19:
Imports And Growth
Figure 20:
Import Prices
Figure 21:
Production, In Physical Terms, 2012–2022
Figure 22:
Production, In Value Terms, 2012–2022
Figure 23:
Imports, In Physical Terms, 2012–2022
Figure 24:
Imports, In Value Terms, 2012–2022
Figure 25:
Imports, In Physical Terms, By Country, 2022
Figure 26:
Imports, In Physical Terms, By Country, 2012–2022
Figure 27:
Imports, In Value Terms, By Country, 2012–2022
Figure 28:
Import Prices, By Country Of Origin, 2012–2022
Figure 29:
Exports, In Physical Terms, 2012–2022
Figure 30:
Exports, In Value Terms, 2012–2022
Figure 31:
Exports, In Physical Terms, By Country, 2022
Figure 32:
Exports, In Physical Terms, By Country, 2012–2022
Figure 33:
Exports, In Value Terms, By Country, 2012–2022
Figure 34:
Export Prices, By Country Of Destination, 2012–2022
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