Austria: Market for Iron and Steel Wire 2024

Market Size for Iron and Steel Wire in Austria

The Austrian iron and steel wire market was estimated at $X in 2022, approximately equating the previous year. Overall, consumption, however, showed a temperate expansion. Over the period under review, the market attained the peak level in 2022 and is likely to see steady growth in the near future.

Production of Iron and Steel Wire in Austria

In value terms, iron and steel wire production contracted rapidly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a abrupt decrease. The growth pace was the most rapid in 2019 when the production volume increased by X% against the previous year. Iron and steel wire production peaked at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

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Exports of Iron and Steel Wire

Exports from Austria

In 2022, shipments abroad of iron and steel wire increased by X% to X tons, rising for the second year in a row after three years of decline. In general, exports, however, showed a relatively flat trend pattern. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, iron and steel wire exports expanded remarkably to $X in 2022. The total export value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of X%. The exports peaked in 2022 and are likely to see gradual growth in the near future.

Exports by Country

Germany (X tons) was the main destination for iron and steel wire exports from Austria, with a X% share of total exports. Moreover, iron and steel wire exports to Germany exceeded the volume sent to the second major destination, Italy (X tons), threefold. The third position in this ranking was taken by Brazil (X tons), with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (X% per year) and Brazil (X% per year).

In value terms, Germany ($X) remains the key foreign market for iron and steel wire exports from Austria, comprising X% of total exports. The second position in the ranking was taken by Brazil ($X), with an X% share of total exports. It was followed by Switzerland, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Germany stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (X% per year) and Switzerland (X% per year).

Export Prices by Country

In 2022, the average iron and steel wire export price amounted to $X per ton, rising by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The growth pace was the most rapid in 2021 when the average export price increased by X%. The export price peaked in 2022 and is likely to continue growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Brazil ($X per ton), while the average price for exports to Poland ($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 Romania (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Iron and Steel Wire

Imports into Austria

In 2022, supplies from abroad of iron and steel wire increased by X% to X tons, rising for the second year in a row after two years of decline. The total import volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in years to come.

In value terms, iron and steel wire imports stood at $X in 2022. Overall, total imports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the near future.

Imports by Country

In 2022, Germany (X tons) constituted the largest iron and steel wire supplier to Austria, with a X% share of total imports. Moreover, iron and steel wire imports from Germany exceeded the figures recorded by the second-largest supplier, Italy (X tons), threefold. The Czech Republic (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (X% per year) and the Czech Republic (X% per year).

In value terms, Germany ($X) constituted the largest supplier of iron and steel wire to Austria, comprising X% of total imports. The second position in the ranking was held by Italy ($X), with an X% share of total imports. It was followed by the Czech Republic, with a X% share.

From 2012 to 2022, the average annual growth rate of value from Germany totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (X% per year) and the Czech Republic (X% per year).

Import Prices by Country

In 2022, the average iron and steel wire import price amounted to $X per ton, rising by X% against the previous year. In general, import price indicated a moderate increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, iron and steel wire import price increased by X% against 2020 indices. The growth pace was the most rapid in 2021 when the average import price increased by X% against the previous year. The import price peaked in 2022 and is expected to retain growth in the immediate term.

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 China ($X per ton), while the price for Belarus ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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