Global Steel Stranded Wire Market 2024

Steel Stranded Wire Market Size

The global steel stranded wire market amounted to $X in 2022, therefore, remained relatively stable against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the global market attained the peak level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Steel Stranded Wire Production

In value terms, steel stranded wire production shrank modestly to $X in 2022 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, global production hit record highs at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Steel Stranded Wire Exports

Exports

In 2022, shipments abroad of iron or steel stranded wire, ropes and cables increased by X% to X tons, rising for the second year in a row after two years of decline. The total export volume increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2021 when exports increased by X%. The global exports peaked in 2022 and are likely to see gradual growth in the immediate term.

In value terms, steel stranded wire exports soared to $X in 2022. The total export 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 in certain years. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. Over the period under review, the global exports attained the peak figure in 2022 and are expected to retain growth in the near future.

Exports by Country

In 2022, China (X tons) represented the key exporter of iron or steel stranded wire, ropes and cables, achieving X% of total exports. Thailand (X tons) ranks second in terms of the total exports with a X% share, followed by South Korea (X%). The following exporters - Vietnam (X tons), Turkey (X tons), Malaysia (X tons), Italy (X tons), India (X tons), Portugal (X tons), Romania (X tons), Germany (X tons), Hungary (X tons) and Belgium (X tons) - together made up X% of total exports.

From 2012 to 2022, average annual rates of growth with regard to steel stranded wire exports from China stood at X%. At the same time, Belgium (X%), Vietnam (X%), Thailand (X%), Turkey (X%), India (X%), Romania (X%), Hungary (X%) and Portugal (X%) displayed positive paces of growth. Moreover, Belgium emerged as the fastest-growing exporter exported in the world, with a CAGR of X% from 2012-2022. Malaysia experienced a relatively flat trend pattern. By contrast, Germany (X%), Italy (X%) and South Korea (X%) illustrated a downward trend over the same period. While the share of China (X p.p.), Vietnam (X p.p.) and Thailand (X p.p.) increased significantly in terms of the global exports from 2012-2022, the share of Italy (X p.p.) and South Korea (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest steel stranded wire supplier worldwide, comprising X% of global exports. The second position in the ranking was taken by Vietnam ($X), with a X% share of global exports. It was followed by South Korea, with a X% share.

In China, steel stranded wire exports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Vietnam (X% per year) and South Korea (X% per year).

Export Prices by Country

The average steel stranded wire export price stood at $X per ton in 2022, surging by X% against the previous year. In general, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, the average export prices attained the peak figure in 2022 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Germany ($X per ton), while Hungary ($X per ton) was amongst the lowest.

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

Steel Stranded Wire Imports

Imports

In 2022, approx. X tons of iron or steel stranded wire, ropes and cables were imported worldwide; picking up by X% on the year before. The total import volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Over the period under review, global imports reached the peak figure in 2022 and are likely to continue growth in the near future.

In value terms, steel stranded wire imports surged to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Over the period under review, global imports hit record highs in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, the United States (X tons), distantly followed by South Korea (X tons) were the key importers of iron or steel stranded wire, ropes and cables, together constituting X% of total imports. The following importers - Germany (X tons), Thailand (X tons), Japan (X tons), India (X tons), Poland (X tons), Canada (X tons), Belgium (X tons), the Netherlands (X tons), Australia (X tons), Spain (X tons) and France (X tons) - together made up X% of total imports.

Imports into the United States increased at an average annual rate of X% from 2012 to 2022. At the same time, India (X%), Belgium (X%), Thailand (X%), Poland (X%), Australia (X%), South Korea (X%), Japan (X%), the Netherlands (X%) and Canada (X%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing importer imported in the world, with a CAGR of X% from 2012-2022. France experienced a relatively flat trend pattern. By contrast, Germany (X%) and Spain (X%) illustrated a downward trend over the same period. India (X p.p.), the United States (X p.p.) and Thailand (X p.p.) significantly strengthened its position in terms of the global imports, while Germany and Spain saw its share reduced by X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

In the United States, steel stranded wire imports increased at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Germany (X% per year) and South Korea (X% per year).

Import Prices by Country

The average steel stranded wire import price stood at $X per ton in 2022, increasing by X% against the previous year. In general, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X%. Global import price peaked in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while South Korea ($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 other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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