United Kingdom: Wire And Cable Market 2024

Wire And Cable Market Size in the UK

The UK wire and cable market totaled $X in 2022, approximately mirroring the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. Over the period under review, the market reached the maximum level in 2022 and is likely to see steady growth in the immediate term.

Wire And Cable Production in the UK

In value terms, wire and cable production reduced to $X in 2022 estimated in export price. In general, production, however, recorded a abrupt contraction. The growth pace was the most rapid in 2018 when the production volume increased by X% against the previous year. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

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Wire And Cable Exports

Exports from the UK

For the fifth consecutive year, the UK recorded decline in shipments abroad of insulated wire and cable, which decreased by X% to X tons in 2022. In general, exports saw a pronounced decrease. The pace of growth was the most pronounced in 2017 with an increase of X%. As a result, the exports attained the peak of X tons. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, wire and cable exports reduced to $X in 2022. The total export value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, the exports attained the maximum at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Ireland (X tons), Hong Kong SAR (X tons) and the Netherlands (X tons) were the main destinations of wire and cable exports from the UK, together comprising X% of total exports. Germany, Norway, France, the United Arab Emirates, the United States, Italy, Turkey, Denmark, Spain and Qatar lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Denmark (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for wire and cable exported from the UK were Germany ($X), the United States ($X) and Ireland ($X), with a combined X% share of total exports. The Netherlands, Hong Kong SAR, France, Norway, Italy, the United Arab Emirates, Spain, Denmark, Qatar and Turkey lagged somewhat behind, together comprising a further X%.

Denmark, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average wire and cable export price amounted to $X per ton, picking up by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2014 an increase of X%. Over the period under review, the average export prices attained the peak figure in 2022 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Ireland (X%), while the prices for the other major destinations experienced more modest paces of growth.

Wire And Cable Imports

Imports into the UK

Wire and cable imports into the UK declined to X tons in 2022, waning by X% compared with 2021. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by X%. Imports peaked at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, wire and cable imports shrank slightly to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of X%. As a result, imports reached the peak of $X, and then contracted in the following year.

Imports by Country

In 2022, Turkey (X tons) constituted the largest supplier of wire and cable to the UK, with a X% share of total imports. Moreover, wire and cable imports from Turkey exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. The third position in this ranking was taken by Egypt (X tons), with an X% share.

From 2012 to 2022, the average annual growth rate of volume from Turkey stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Egypt (X% per year).

In value terms, Turkey ($X), China ($X) and Morocco ($X) constituted the largest wire and cable suppliers to the UK, with a combined X% share of total imports. Egypt, Germany, Poland, Greece, India, Italy, Portugal and France lagged somewhat behind, together comprising a further X%.

India, with a CAGR of X%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average wire and cable import price stood at $X per ton in 2022, surging by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2013 an increase of X% 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 supplying countries. In 2022, amid the top importers, the country with the highest price was Morocco ($X per ton), while the price for Greece ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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