U.S.: Metal Wool Market 2024

Metal Wool Market Size in the U.S.

The U.S. metal wool market totaled $X in 2022, growing by X% against the previous year. Overall, the total consumption indicated buoyant 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 decreased by X% against 2019 indices. Over the period under review, the market reached the peak level in 2022 and is expected to retain growth in the immediate term.

Metal Wool Production in the U.S.

In value terms, metal wool production stood at $X in 2022. Overall, production continues to indicate a prominent expansion. The most prominent rate of growth was recorded in 2019 with an increase of X%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

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Metal Wool Exports

Exports from the U.S.

In 2022, after two years of growth, there was significant decline in shipments abroad of iron or steel wool, when their volume decreased by X% to X tons. In general, exports showed a deep slump. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, metal wool exports contracted slightly to $X in 2022. Over the period under review, exports showed a perceptible setback. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Canada (X tons), Mexico (X tons) and Japan (X tons) were the main destinations of metal wool exports from the United States, with a combined X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Japan (with a CAGR of X%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Canada ($X), Mexico ($X) and South Korea ($X) constituted the largest markets for metal wool exported from the United States worldwide, together accounting for X% of total exports. China, Colombia and Japan lagged somewhat behind, together accounting for a further X%.

In terms of the main countries of destination, Japan, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average metal wool export price stood at $X per ton in 2022, picking up by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2019 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2020 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to Japan ($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 the Philippines (X%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Wool Imports

Imports into the U.S.

In 2022, purchases abroad of iron or steel wool increased by X% to X tons, rising for the second consecutive year after two years of decline. In general, imports, however, saw a mild contraction. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, metal wool imports amounted to $X in 2022. Overall, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest metal wool supplier to the United States, with a X% share of total imports. Moreover, metal wool imports from China exceeded the figures recorded by the second-largest supplier, Mexico (X tons), threefold. India (X tons) ranked third in terms of total imports with a X% share.

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

In value terms, China ($X), India ($X) and Mexico ($X) were the largest metal wool suppliers to the United States, with a combined X% share of total imports.

India, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average metal wool import price stood at $X per ton in 2022, declining 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 when the average import price increased by X% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

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 ($X per ton), while the price for China ($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 mixed trend patterns.

Source: IndexBox Platform