World - Winding Wire For Electrical Purposes - Market Analysis, Forecast, Size, Trends And Insights
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The winding wire market is expected to see an upward consumption trend over the next eight years, with a forecasted increase in market volume and value. Consumption for electrical purposes increased in 2022 after several years of decline, with notable growth in Italy. Production and imports also saw slight increases, with China, Italy, and the United States playing key roles in the market. Export prices are on the rise, with Germany leading in pricing. Overall, the global winding wire market is poised for growth in the coming years.
Market Forecast
Driven by rising demand for winding wire worldwide, the market is expected to start an upward consumption trend over the next eight-year period. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +1.7% for the period from 2022 to 2030, which is projected to bring the market volume to 3.1M tons by the end of 2030.
In value terms, the market is forecast to increase with an anticipated CAGR of +4.0% for the period from 2022 to 2030, which is projected to bring the market value to $33.7B (in nominal prices) by the end of 2030.
Consumption
World Consumption of Winding Wire For Electrical Purposes
In 2022, consumption of winding wire for electrical purposes increased by 4.6% to 2.7M tons, rising for the second year in a row after three years of decline. Overall, consumption, however, recorded a relatively flat trend pattern. Global consumption peaked at 2.8M tons in 2014; however, from 2015 to 2022, consumption remained at a lower figure.
The global winding wire market size rose modestly to $24.6B in 2022, surging by 1.6% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 9.6%. Over the period under review, the global market hit record highs at $25.6B in 2012; however, from 2013 to 2022, consumption remained at a lower figure.
Consumption By Country
The countries with the highest volumes of consumption in 2022 were China (473K tons), Italy (319K tons) and the United States (305K tons), with a combined 41% share of global consumption.
From 2012 to 2022, the biggest increases were recorded for Italy (with a CAGR of +10.9%), while consumption for the other global leaders experienced more modest paces of growth.
In value terms, the largest winding wire markets worldwide were China ($2.9B), the United States ($2.8B) and Japan ($2.2B), with a combined 32% share of the global market. India, Italy, Germany, Brazil, Mexico, Indonesia, Poland and South Korea lagged somewhat behind, together accounting for a further 27%.
Italy, with a CAGR of +11.6%, recorded the highest growth rate of market size among the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.
In 2022, the highest levels of winding wire per capita consumption was registered in Italy (5.4 kg per 1000 persons), followed by Poland (1.4 kg per 1000 persons), Germany (1.1 kg per 1000 persons) and the United States (0.9 kg per 1000 persons), while the world average per capita consumption of winding wire was estimated at 0.3 kg per 1000 persons.
In Italy, winding wire per capita consumption increased at an average annual rate of +11.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Poland (+8.7% per year) and Germany (-2.6% per year).
Production
World Production of Winding Wire For Electrical Purposes
In 2022, production of winding wire for electrical purposes increased by 4.9% to 2.7M tons, rising for the second consecutive year after three years of decline. Over the period under review, production, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the production volume increased by 6%. As a result, production reached the peak volume of 2.9M tons. From 2015 to 2022, global production growth remained at a lower figure.
In value terms, winding wire production declined modestly to $24.3B in 2022 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the production volume increased by 13%. Global production peaked at $28.3B in 2018; however, from 2019 to 2022, production remained at a lower figure.
Production By Country
The countries with the highest volumes of production in 2022 were China (621K tons), Italy (335K tons) and the United States (296K tons), together accounting for 46% of global production.
From 2012 to 2022, the most notable rate of growth in terms of production, amongst the leading producing countries, was attained by Italy (with a CAGR of +6.8%), while production for the other global leaders experienced more modest paces of growth.
Imports
World Imports of Winding Wire For Electrical Purposes
In 2022, approx. 771K tons of winding wire for electrical purposes were imported worldwide; waning by -2.6% against 2021 figures. In general, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by 22% against the previous year. Global imports peaked at 828K tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.
In value terms, winding wire imports contracted modestly to $7.5B in 2022. Over the period under review, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 45%. As a result, imports reached the peak of $7.6B, and then declined in the following year.
Imports By Country
The United States (59K tons), Japan (50K tons), Poland (44K tons), Germany (44K tons), Italy (34K tons), the Czech Republic (30K tons), France (30K tons), Vietnam (28K tons), Slovakia (26K tons), Hungary (26K tons), Thailand (25K tons) and Mexico (24K tons) represented roughly 55% of total imports in 2022. China (19K tons) took a minor share of total imports.
From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Japan (with a CAGR of +21.5%), while imports for the other global leaders experienced more modest paces of growth.
In value terms, the United States ($702M), Japan ($580M) and Germany ($385M) constituted the countries with the highest levels of imports in 2022, together accounting for 22% of global imports.
Japan, with a CAGR of +21.7%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries 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 winding wire import price amounted to $9,706 per ton, remaining constant against the previous year. Over the last decade, it increased at an average annual rate of +1.5%. The growth pace was the most rapid in 2021 an increase of 19%. Global import price peaked in 2022 and is expected to retain growth in years to come.
Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($18,541 per ton), while Hungary ($4,735 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+6.8%), while the other global leaders experienced more modest paces of growth.
Exports
World Exports of Winding Wire For Electrical Purposes
In 2022, the amount of winding wire for electrical purposes exported worldwide dropped modestly to 808K tons, approximately mirroring the previous year. Over the period under review, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 14%. Over the period under review, the global exports hit record highs at 902K tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.
In value terms, winding wire exports stood at $8.2B in 2022. In general, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 40%. Over the period under review, the global exports hit record highs in 2022 and are expected to retain growth in the near future.
Exports By Country
In 2022, China (167K tons), distantly followed by Germany (80K tons), Spain (61K tons), Italy (50K tons), the United States (50K tons), Mexico (39K tons) and South Korea (36K tons) represented the major exporters of winding wire for electrical purposes, together committing 60% of total exports. The following exporters - Sweden (32K tons), Malaysia (32K tons), Austria (29K tons), Thailand (28K tons), Indonesia (23K tons) and Poland (19K tons) - together made up 20% of total exports.
From 2012 to 2022, average annual rates of growth with regard to winding wire exports from China stood at +7.3%. At the same time, Thailand (+11.4%), Spain (+7.1%), Poland (+5.3%) and Austria (+3.3%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in the world, with a CAGR of +11.4% from 2012-2022. Indonesia, Sweden and Germany experienced a relatively flat trend pattern. By contrast, Mexico (-1.5%), Malaysia (-1.7%), the United States (-2.3%), South Korea (-2.7%) and Italy (-4.9%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China, Spain and Thailand increased by +11, +3.8 and +2.3 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, the largest winding wire supplying countries worldwide were China ($1.3B), Germany ($1B) and Italy ($558M), together accounting for 34% of global exports. The United States, Mexico, Spain, Malaysia, South Korea, Sweden, Thailand, Austria, Indonesia and Poland lagged somewhat behind, together accounting for a further 41%.
In terms of the main exporting countries, Thailand, with a CAGR of +13.5%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.
Export Prices By Country
The average winding wire export price stood at $10,155 per ton in 2022, surging by 3.5% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 23% against the previous year. Over the period under review, the average export prices reached the maximum in 2022 and is likely to continue growth in the near future.
There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Germany ($12,592 per ton), while Spain ($6,759 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+4.0%), while the other global leaders experienced more modest paces of growth.
This report provides an in-depth analysis of the global winding wire market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 27321100 - Winding wire for electrical purposes
Country coverage:
Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:
- USA
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
+ the largest producing countries
Data coverage:
- Global market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Global production, split by region and country
- Global trade (exports and imports)
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- CONSUMPTION BY COUNTRY
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. GLOBAL PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
- PRODUCTION BY COUNTRY
8. GLOBAL IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. GLOBAL EXPORTS
The Largest Exporters on The Market and How They Succeed
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
11. COUNTRY PROFILES
The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO- United States
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
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LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption, By Country, 2018–2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Destination, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Origin, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Consumption, By Country, 2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Production, By Country, 2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, 2012–2023
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