Overview of the Global Market for Iron and Steel Wire

Market Size for Iron and Steel Wire

In 2022, the global iron and steel wire market increased by X% to $X, rising for the second consecutive year after three years of decline. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. Global consumption peaked in 2022 and is expected to retain growth in the near future.

Production of Iron and Steel Wire

In value terms, iron and steel wire production skyrocketed to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Exports of Iron and Steel Wire

Exports

In 2022, shipments abroad of iron and steel wire increased by X% to X tons, rising for the second consecutive year after two years of decline. The total export volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, iron and steel wire exports soared to $X in 2022. Over the period under review, total exports indicated a remarkable 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, exports increased by X% against 2020 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2022, China (X tons) represented the largest exporter of iron and steel wire, constituting X% of total exports. Italy (X tons) held the second position in the ranking, followed by the Netherlands (X tons) and Russia (X tons). All these countries together took near X% share of total exports. The following exporters - Turkey (X tons), the Czech Republic (X tons), Germany (X tons), South Korea (X tons), the Philippines (X tons), Belarus (X tons), Slovakia (X tons), France (X tons) and Mexico (X tons) - together made up X% of total exports.

Exports from China increased at an average annual rate of X% from 2012 to 2022. At the same time, the Philippines (X%), the Netherlands (X%), Russia (X%), Turkey (X%), Italy (X%), Mexico (X%) and Slovakia (X%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing exporter exported in the world, with a CAGR of X% from 2012-2022. The Czech Republic and Belarus experienced a relatively flat trend pattern. By contrast, South Korea (X%), Germany (X%) and France (X%) illustrated a downward trend over the same period. While the share of China (X p.p.), the Netherlands (X p.p.), the Philippines (X p.p.), Russia (X p.p.), Italy (X p.p.) and Turkey (X p.p.) increased significantly in terms of the global exports from 2012-2022, the share of France (X p.p.), South Korea (X p.p.) and Germany (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest iron and steel wire supplier worldwide, comprising X% of global exports. The second position in the ranking was held by Italy ($X), with a X% share of global exports. It was followed by Germany, with a X% share.

In China, iron and steel wire exports expanded at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Italy (X% per year) and Germany (X% per year).

Export Prices by Country

The average iron and steel wire export price stood at $X per ton in 2022, 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 pace of growth was the most pronounced in 2021 an increase of X%. The global export price peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the Philippines ($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 other global leaders experienced more modest paces of growth.

Imports of Iron and Steel Wire

Imports

In 2022, purchases abroad of iron and steel wire increased by X% to X tons, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2014 when imports increased by X%. Over the period under review, global imports attained the peak figure in 2022 and are likely to see steady growth in years to come.

In value terms, iron and steel wire imports soared 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 indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, global imports attained the peak figure in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

In 2022, the United States (X tons), Germany (X tons), Poland (X tons), France (X tons), Switzerland (X tons), Thailand (X tons), Japan (X tons), the Netherlands (X tons), South Korea (X tons), Italy (X tons), the UK (X tons) and the Czech Republic (X tons) was the major importer of iron and steel wire in the world, making up X% of total import. Brazil (X tons) held a little share of total imports.

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

In value terms, the largest iron and steel wire importing markets worldwide were the United States ($X), Germany ($X) and France ($X), together comprising X% of global imports. Poland, Italy, the Netherlands, Switzerland, Japan, Thailand, Brazil, the UK, the Czech Republic and South Korea lagged somewhat behind, together accounting for a further X%.

Among the main importing countries, Poland, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average iron and steel wire import price amounted to $X per ton, surging 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 2021 an increase of X%. Over the period under review, average import prices reached the peak figure in 2022 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Italy ($X per ton), while Poland ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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