Overview of the Global Market for Iron or Steel Wire Products

Market Size for Iron or Steel Wire Products

The global market for iron or steel wire products contracted to $X in 2022, with a decrease of X% against the previous year. In general, consumption saw a relatively flat trend pattern. Over the period under review, the global market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Production of Iron or Steel Wire Products

In value terms, iron or steel wire product production shrank modestly to $X in 2022 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the production volume increased by X%. Global production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Exports of Iron or Steel Wire Products

Exports

Global iron or steel wire product exports expanded markedly to X tons in 2022, with an increase of X% compared with 2021. Over the period under review, total exports indicated a resilient expansion from 2012 to 2022: its volume 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 2016 indices. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, the global exports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, iron or steel wire product exports expanded sharply to $X in 2022. Overall, total exports indicated a buoyant expansion 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 2016 indices. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. The global exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

In 2022, China (X tons) was the main exporter of iron or steel wire products, mixing up X% of total exports. The Netherlands (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by the Czech Republic (X%). Poland (X tons), Belgium (X tons), Germany (X tons), Mexico (X tons), Vietnam (X tons), the United States (X tons), Canada (X tons), Croatia (X tons) and India (X tons) took a little share of total exports.

From 2012 to 2022, average annual rates of growth with regard to iron or steel wire product exports from China stood at X%. At the same time, Vietnam (X%), the Netherlands (X%), Croatia (X%), Canada (X%), the Czech Republic (X%), Mexico (X%), Germany (X%), Poland (X%) and India (X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in the world, with a CAGR of X% from 2012-2022. By contrast, the United States (X%) and Belgium (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China, the Netherlands and Vietnam increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2012 to 2022, the average annual rate of growth in terms of value in China stood at X%. In the other countries, the average annual rates were as follows: the Czech Republic (X% per year) and Germany (X% per year).

Export Prices by Country

In 2022, the average export price for iron or steel wire products amounted to $X per ton, with an increase of X% against the previous year. Overall, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average export price increased by X%. The global export price peaked in 2022 and is likely to see steady growth in the immediate term.

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 ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

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

Imports of Iron or Steel Wire Products

Imports

In 2022, the amount of iron or steel wire products imported worldwide dropped to X tons, declining by X% against 2021. The total import 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. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of X tons, and then contracted in the following year.

In value terms, iron or steel wire product imports totaled $X in 2022. Overall, total imports indicated a notable 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 pace of growth was the most pronounced in 2021 when imports increased by X%. Over the period under review, global imports hit record highs in 2022 and are expected to retain growth in the near future.

Imports by Country

The United States (X tons) and Belgium (X tons) represented roughly X% of total imports in 2022. It was followed by France (X tons), Germany (X tons), the Netherlands (X tons) and Japan (X tons), together creating a X% share of total imports. The following importers - the UK (X tons), Canada (X tons), Poland (X tons), Saudi Arabia (X tons), Thailand (X tons), Mexico (X tons) and Sweden (X tons) - together made up X% of total imports.

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

In value terms, the United States ($X) constitutes the largest market for imported iron or steel wire products worldwide, comprising X% of global imports. The second position in the ranking was taken by Germany ($X), with a X% share of global imports. It was followed by France, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United States amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: Germany (X% per year) and France (X% per year).

Import Prices by Country

In 2022, the average import price for iron or steel wire products amounted to $X per ton, with an increase of X% against the previous year. Overall, the import price recorded a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

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

Source: IndexBox Platform

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