Agglomerated Powder Rod Market

The article discusses the projected growth of the global market for base metal wire and rods of agglomerated base powder from 2022 to 2030. With a forecasted CAGR of +4.8% in volume and +7.7% in value, the market is expected to reach 1.8M tons and $20.4B by the end of 2030. It highlights key market performance indicators, such as consumption, production, imports, and exports, offering insights into the prominent countries driving market demand and trends. The article also provides detailed analysis on consumption, production, import and export trends, as well as average prices and notable growth rates amongst key global players.

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 eight-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +4.8% for the period from 2022 to 2030, which is projected to bring the market volume to 1.8M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +7.7% for the period from 2022 to 2030, which is projected to bring the market value to $20.4B (in nominal prices) by the end of 2030.

Consumption

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

Global agglomerated powder rod consumption totaled 1.2M tons in 2022, rising by 3.9% against the previous year's figure. In general, consumption posted a prominent increase. Over the period under review, global consumption reached the maximum volume at 1.2M tons in 2020; afterwards, it flattened through to 2022.

The global agglomerated powder rod market revenue expanded modestly to $11.3B in 2022, increasing by 3.1% 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, consumption recorded a strong increase. Global consumption peaked in 2022 and is likely to see gradual growth in years to come.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (241K tons), the United States (141K tons) and India (94K tons), together comprising 39% of global consumption. Indonesia, Russia, Japan, Turkey, Mexico, Italy, Iran, Spain, South Korea and the UK lagged somewhat behind, together accounting for a further 34%.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the leading consuming countries, was attained by Japan (with a CAGR of +14.5%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the largest agglomerated powder rod markets worldwide were the United States ($3.1B), Japan ($1.7B) and Indonesia ($1.2B), together accounting for 52% of the global market.

Indonesia, with a CAGR of +18.2%, saw the highest growth rate of market size among the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of agglomerated powder rod per capita consumption in 2022 were Turkey (550 kg per 1000 persons), Italy (532 kg per 1000 persons) and Spain (526 kg per 1000 persons).

From 2012 to 2022, the biggest increases were recorded for Japan (with a CAGR of +14.8%), while consumption for the other global leaders experienced more modest paces of growth.

Production

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

In 2022, the amount of base metal wire and rods of agglomerated base powder produced worldwide expanded modestly to 1.2M tons, with an increase of 2.5% compared with the previous year's figure. In general, production recorded a prominent increase. The growth pace was the most rapid in 2015 with an increase of 20% against the previous year. Global production peaked at 1.2M tons in 2020; afterwards, it flattened through to 2022.

In value terms, agglomerated powder rod production totaled $11.2B in 2022 estimated in export price. Overall, production recorded strong growth. The most prominent rate of growth was recorded in 2017 with an increase of 36%. Global production peaked at $11.3B in 2020; however, from 2021 to 2022, production failed to regain momentum.

Production By Country

The countries with the highest volumes of production in 2022 were China (245K tons), the United States (140K tons) and India (93K tons), together comprising 40% of global production. Indonesia, Russia, Japan, Italy, Turkey, Mexico, Iran, Thailand, South Korea and the UK lagged somewhat behind, together comprising a further 35%.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the key producing countries, was attained by Mexico (with a CAGR of +18.0%), while production for the other global leaders experienced more modest paces of growth.

Imports

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

In 2022, supplies from abroad of base metal wire and rods of agglomerated base powder increased by 17% to 114K tons, rising for the second year in a row after five years of decline. In general, imports, however, continue to indicate a slight decline. Over the period under review, global imports hit record highs at 149K tons in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, agglomerated powder rod imports surged to $651M in 2022. The total import value increased at an average annual rate of +1.1% from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The pace of growth was the most pronounced in 2021 when imports increased by 22% against the previous year. Over the period under review, global imports reached the maximum in 2022 and are expected to retain growth in the immediate term.

Imports By Country

In 2022, Mexico (19K tons), distantly followed by Belarus (6.8K tons) and the Netherlands (6.2K tons) represented the key importers of base metal wire and rods of agglomerated base powder, together achieving 28% of total imports. The following importers - the United States (4.2K tons), Spain (4K tons), Vietnam (3.6K tons), Germany (3.5K tons), Poland (3.4K tons), France (3.2K tons), Hungary (3.1K tons), South Africa (2.8K tons), Portugal (2.8K tons) and Indonesia (2.7K tons) - together made up 29% of total imports.

Imports into Mexico increased at an average annual rate of +1.7% from 2012 to 2022. At the same time, Belarus (+10.7%), the Netherlands (+10.0%), Germany (+9.1%), Hungary (+7.3%), Portugal (+5.8%), Vietnam (+5.1%), Poland (+2.5%) and Spain (+1.5%) displayed positive paces of growth. Moreover, Belarus emerged as the fastest-growing importer imported in the world, with a CAGR of +10.7% from 2012-2022. By contrast, France (-2.9%), South Africa (-6.4%), the United States (-8.4%) and Indonesia (-11.9%) illustrated a downward trend over the same period. While the share of Mexico (+4.3 p.p.), Belarus (+4.1 p.p.), the Netherlands (+3.6 p.p.), Germany (+2 p.p.) and Hungary (+1.5 p.p.) increased significantly in terms of the global imports from 2012-2022, the share of South Africa (-1.7 p.p.), the United States (-4.1 p.p.) and Indonesia (-5 p.p.) displayed negative dynamics. 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 United States ($67M), the Netherlands ($67M) and Mexico ($63M), together comprising 30% of global imports.

In terms of the main importing countries, the Netherlands, with a CAGR of +11.8%, 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

In 2022, the average agglomerated powder rod import price amounted to $5,709 per ton, remaining relatively unchanged against the previous year. Over the period under review, import price indicated a moderate increase from 2012 to 2022: its price increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, agglomerated powder rod import price increased by +62.9% against 2015 indices. The most prominent rate of growth was recorded in 2017 when the average import price increased by 13% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United States ($15,932 per ton), while Belarus ($1,844 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+9.4%), while the other global leaders experienced more modest paces of growth.

Exports

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

In 2022, global exports of base metal wire and rods of agglomerated base powder dropped modestly to 91K tons, stabilizing at the previous year's figure. Overall, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 34% against the previous year. Over the period under review, the global exports hit record highs at 98K tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, agglomerated powder rod exports amounted to $563M in 2022. Over the period under review, exports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when exports increased by 28%. Over the period under review, the global exports reached the peak figure in 2022 and are likely to see steady growth in the near future.

Exports By Country

In 2022, Italy (23K tons), distantly followed by Greece (12K tons), Poland (6.3K tons), Vietnam (5.9K tons), China (5.3K tons) and Thailand (5.1K tons) represented the major exporters of base metal wire and rods of agglomerated base powder, together achieving 63% of total exports. The following exporters - the Netherlands (2.7K tons), the United States (2.7K tons), Russia (2.5K tons), the United Arab Emirates (2.3K tons), Malaysia (2.3K tons), Canada (1.9K tons) and France (1.7K tons) - together made up 18% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Vietnam (with a CAGR of +81.5%), while the other global leaders experienced more modest paces of growth.

In value terms, the largest agglomerated powder rod supplying countries worldwide were the United States ($79M), Italy ($53M) and China ($47M), together comprising 32% of global exports. Vietnam, Poland, France, Greece, the Netherlands, Thailand, Canada, the United Arab Emirates, Russia and Malaysia lagged somewhat behind, together comprising a further 34%.

Among the main exporting countries, Vietnam, with a CAGR of +72.9%, recorded 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 2022, the average agglomerated powder rod export price amounted to $6,162 per ton, increasing by 10% against the previous year. Over the last decade, it increased at an average annual rate of +1.5%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United States ($29,568 per ton), while Greece ($1,910 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+10.6%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform