Italy: Market for Iron and Steel Wire 2024

Market Size for Iron and Steel Wire in Italy

The Italian iron and steel wire market reduced markedly to $X in 2022, dropping by X% against the previous year. Overall, consumption saw a abrupt setback. Iron and steel wire consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Production of Iron and Steel Wire in Italy

In value terms, iron and steel wire production plummeted to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a noticeable shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

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Exports of Iron and Steel Wire

Exports from Italy

For the ninth year in a row, Italy recorded growth in shipments abroad of iron and steel wire, which increased by X% to X tons in 2022. Over the period under review, exports saw prominent growth. The pace of growth appeared the most rapid in 2021 when exports increased by X%. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, iron and steel wire exports skyrocketed to $X in 2022. In general, exports showed a resilient increase. The most prominent rate of growth was recorded in 2021 when exports increased by X%. The exports peaked in 2022 and are likely to see gradual growth in years to come.

Exports by Country

Switzerland (X tons), Germany (X tons) and France (X tons) were the main destinations of iron and steel wire exports from Italy, with a combined X% share of total exports.

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

In value terms, Germany ($X), Switzerland ($X) and France ($X) constituted the largest markets for iron and steel wire exported from Italy worldwide, with a combined X% share of total exports.

Switzerland, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, in terms of 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 iron and steel wire export price amounted to $X per ton, surging by X% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. The export price peaked at $X per ton in 2012; afterwards, it flattened through to 2022.

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

Imports of Iron and Steel Wire

Imports into Italy

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 throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, imports attained the peak figure at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, iron and steel wire imports soared to $X in 2022. Overall, total imports indicated a strong increase 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 growth pace was the most rapid in 2021 when imports increased by X% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

Turkey (X tons), China (X tons) and the Czech Republic (X tons) were the main suppliers of iron and steel wire imports to Italy, with a combined X% share of total imports. France, Germany, Slovakia, Spain, Austria, Belgium, India, South Korea, Albania and Romania lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Albania (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), the Czech Republic ($X) and Germany ($X) appeared to be the largest iron and steel wire suppliers to Italy, together accounting for X% of total imports. France, Turkey, India, Spain, South Korea, Slovakia, Belgium, Austria, Albania and Romania lagged somewhat behind, together comprising a further X%.

Albania, with a CAGR of X%, recorded the highest rates of growth with regard to 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 iron and steel wire import price stood at $X per ton in 2022, jumping by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. As a result, import price attained the peak level and is likely to continue 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 India ($X per ton), while the price for Albania ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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