Which Country Imports the Most Stranded Wire, Ropes and Cables in the World?
Other Fabricated Metal Products May 28, 2018
Global stranded wire imports totaled 5.1M tonnes in 2016, import ,therefore, remained relatively stable against the previous year level. Overall, stranded wire imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2011, when it surged by 6% year-to-year. Over the period under review, global stranded wire imports attained its maximum volume of 5.2M tonnes in 2014; however, from 2015 to 2016, it failed to regain its strength.
In value terms, stranded wire imports totaled $5.9B in 2016. In general, stranded wire imports continue to indicate a relatively flat trend pattern. Over the period under review, global stranded wire imports attained its maximum level of $7.1B in 2012; however, from 2013 to 2016, it stood at a somewhat lower level.
Top Stranded Wire Importing Countries in the World
1. USA (801.4 million USD)
2. Germany (353.1 million USD)
3. China (267.7 million USD)
4. South Korea (223.7 million USD)
5. Thailand (175.6 million USD)
6. Japan (170.5 million USD)
7. Italy (143.2 million USD)
8. Viet Nam (125.8 million USD)
9. Australia (93.6 million USD)
10. United Arab Emirates (85.7 million USD)
11. Malaysia (63.5 million USD)
12. Portugal (41.3 million USD)
Stranded Wire Imports By Country
China (1.1M tonnes) was the major importing country with an import of about 1.1M tonnes, which amounted to 22% of total imports. South Korea (351K tonnes) took a 7% share (based on tonnes) of global stranded wire imports, which put it in second place, following the U.S. (6%). The following importers - Malaysia (173K tonnes), Italy (172K tonnes), Thailand (171K tonnes), Germany (164K tonnes), Viet Nam (125K tonnes), Portugal (94K tonnes), United Arab Emirates (94K tonnes), Australia (93K tonnes), and Japan (87K tonnes) together made up 23% of total imports.
China experienced a relatively flat trend pattern. At the same time, Viet Nam (+19.8%), Thailand (+6.2%), Australia (+4.9%), Malaysia (+3.2%), United Arab Emirates (+2.6%), South Korea (+1.2%), and Portugal (+1.1%) displayed positive paces of growth. Moreover, Viet Nam emerged as the fastest growing importer/exporter in the world, with a CAGR of +19.8% from 2007-2016. Germany, and Japan experienced a relatively flat trend pattern. By contrast, the U.S. (-4.6%), and Italy (-6.6%) illustrated a downward trend over the same period. The U.S. (3%), and Italy (3%) significantly strengthened its position in terms of the global imports, while Viet Nam saw its share reduced by -2.0% from 2007 to 2016, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, the U.S. ($801M) constitutes the largest market for imported stranded wire worldwide, making up 14% of global imports. The second position in the ranking was occupied by Germany ($353M), with the share of 6% of global imports. It was followed by China, with the share of 5%.
From 2007 to 2016, the average annual growth rate of value of stranded wire imports in the U.S. contracted by -0.5%. The remaining importing countries recorded the following average annual rates: Germany (-2.2% per year) and China (+3.1% per year).
Stranded Wire Import Prices By Country
In 2016, the average import price for stranded wire amounted to $1,151 per tonne, going down by -4.6% against the previous year. In general, stranded wire import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2008, an increase of 21% against the previous year level. Over the period under review, average stranded wire import price reached its maximum level of $1,462 per tonne in 2011; however, from 2012 to 2016, it stood at a somewhat lower level.
There were significant differences in the average import prices amongst major importing countries. In 2016, the country with the highest import prices was the U.S. ($2,539 per tonne), while China ($238 per tonne) was among the lowest.
From 2007 to 2016, the most notable growth rate of stranded wire import prices was attained by Thailand (+8.7% per year), while the other global leaders experienced more modest paces of growth.
Do you want to know more about global stranded wire market? Get the latest trends and insight from our report. It includes a wide range of statistics on
- stranded wire market share
- stranded wire prices
- stranded wire industry
- stranded wire sales
- stranded wire import
- stranded wire export
- stranded wire market forecast
- stranded wire price forecast
- key stranded wire producers
All data provided in this article covers the following product: HS Code 7312 - Stranded wire, ropes, cables, plaited bands, slings and the like, of iron or steel, not electrically insulated.
Source: World: Stranded Wire, Ropes And Cables - Market Report. Analysis and Forecast to 2025
