Belgium: Market for Hot-Rolled Non-Alloy Steel Wire Rods 2024

Market Size for Hot-Rolled Non-Alloy Steel Wire Rods in Belgium

In 2022, the Belgian market for hot-rolled non-alloy steel wire rods increased by X% to $X, rising for the second consecutive year after two years of decline. In general, the total consumption indicated measured 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, consumption increased by X% against 2020 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Hot-Rolled Non-Alloy Steel Wire Rods in Belgium

In value terms, hot-rolled non-alloy steel wire rod production contracted to $X in 2022 estimated in export price. Over the period under review, production recorded a abrupt decline. The growth pace was the most rapid in 2017 when the production volume increased by X%. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

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Exports of Hot-Rolled Non-Alloy Steel Wire Rods

Exports from Belgium

In 2022, the amount of hot-rolled non-alloy steel wire rods exported from Belgium fell notably to X tons, which is down by X% compared with the previous year's figure. Over the period under review, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons, and then dropped remarkably in the following year.

In value terms, hot-rolled non-alloy steel wire rod exports fell remarkably to $X in 2022. In general, exports, however, recorded a modest expansion. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, the exports reached the peak of $X, and then fell dramatically in the following year.

Exports by Country

The Netherlands (X tons) was the main destination for hot-rolled non-alloy steel wire rod exports from Belgium, accounting for a X% share of total exports. Moreover, hot-rolled non-alloy steel wire rod exports to the Netherlands exceeded the volume sent to the second major destination, Germany (X tons), fourfold. France (X tons) ranked third in terms of total exports with an X% share.

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

In value terms, the Netherlands ($X) remains the key foreign market for hot-rolled non-alloy steel wire rods exports from Belgium, comprising X% of total exports. The second position in the ranking was taken by Germany ($X), with a X% share of total exports. It was followed by France, with a X% share.

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

Export Prices by Country

The average export price for hot-rolled non-alloy steel wire rods stood at $X per ton in 2022, increasing by X% against the previous year. Over the period under review, export price indicated a perceptible expansion 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, hot-rolled non-alloy steel wire rod export price increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. The export price peaked in 2022 and is likely to continue growth in years to come.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Italy ($X per ton) and France ($X per ton), while the average price for exports to the Netherlands ($X per ton) and Germany ($X per ton) were amongst the lowest.

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

Imports of Hot-Rolled Non-Alloy Steel Wire Rods

Imports into Belgium

In 2022, approx. X tons of hot-rolled non-alloy steel wire rods were imported into Belgium; growing by X% against 2021 figures. Over the period under review, imports continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2016 when imports increased by X% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the near future.

In value terms, hot-rolled non-alloy steel wire rod imports surged to $X in 2022. In general, imports recorded a remarkable increase. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

Imports by Country

Malaysia (X tons), France (X tons) and Germany (X tons) were the main suppliers of hot-rolled non-alloy steel wire rod imports to Belgium, together comprising X% of total imports.

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

In value terms, Malaysia ($X), France ($X) and Germany ($X) were the largest hot-rolled non-alloy steel wire rod suppliers to Belgium, with a combined X% share of total imports.

Malaysia, with a CAGR of X%, saw 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 import price for hot-rolled non-alloy steel wire rods stood at $X per ton in 2022, picking up by X% against the previous year. Over the period under review, import price indicated a notable expansion 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, hot-rolled non-alloy steel wire rod import price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average import price increased by X%. The import price peaked in 2022 and is expected to retain growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Spain ($X per ton) and the UK ($X per ton), while the price for Malaysia ($X per ton) and Turkey ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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