Global Expanded Metal Market to Reach $5.7B by 2030 with 3.4% CAGR Growth

IndexBox has just published a new report: World - Iron Or Steel Expanded Metal - Market Analysis, Forecast, Size, Trends And Insights.

The market for iron or steel expanded metal is expected to see continued growth over the next six years, with a forecasted CAGR of +1.4%. By 2030, the market volume is projected to reach 1.9M tons, while the market value is expected to increase to $5.7B. This growth is driven by increasing demand for expanded metal in various industries globally.

Market Forecast

Driven by increasing demand for iron or steel expanded metal worldwide, the market is expected to continue an upward consumption trend over the next six years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +1.4% for the period from 2024 to 2030, which is projected to bring the market volume to 1.9M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.4% for the period from 2024 to 2030, which is projected to bring the market value to $5.7B (in nominal wholesale prices) by the end of 2030.

Consumption

World Consumption of Iron Or Steel Expanded Metal

In 2024, approx. 1.8M tons of iron or steel expanded metal were consumed worldwide; remaining relatively unchanged against the previous year's figure. The total consumption volume increased at an average annual rate of +3.2% from 2013 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when the consumption volume increased by 9.6% against the previous year. Global consumption peaked at 1.8M tons in 2022; afterwards, it flattened through to 2024.

The global expanded metal market value rose notably to $4.6B in 2024, picking up by 7% 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). In general, the total consumption indicated resilient growth from 2013 to 2024: its value increased at an average annual rate of +5.0% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, consumption decreased by -7.4% against 2022 indices. As a result, consumption attained the peak level of $5B. From 2023 to 2024, the growth of the global market failed to regain momentum.

Consumption By Country

China (431K tons) remains the largest expanded metal consuming country worldwide, comprising approx. 24% of total volume. Moreover, expanded metal consumption in China exceeded the figures recorded by the second-largest consumer, the United States (196K tons), twofold. The third position in this ranking was held by India (171K tons), with a 9.7% share.

From 2013 to 2024, the average annual rate of growth in terms of volume in China amounted to +4.0%. In the other countries, the average annual rates were as follows: the United States (+5.3% per year) and India (+3.4% per year).

In value terms, the largest expanded metal markets worldwide were China ($1.3B), Japan ($717M) and the United States ($623M), together accounting for 56% of the global market.

The United States, with a CAGR of +9.1%, saw the highest growth rate of market size in terms of the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of expanded metal per capita consumption in 2024 were Italy (791 kg per 1000 persons), the United States (577 kg per 1000 persons) and Japan (577 kg per 1000 persons).

From 2013 to 2024, the biggest increases were recorded for Italy (with a CAGR of +7.9%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Iron Or Steel Expanded Metal

In 2024, approx. 1.8M tons of iron or steel expanded metal were produced worldwide; picking up by 1.6% on the year before. The total output volume increased at an average annual rate of +3.3% over the period from 2013 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of 9.9%. Over the period under review, global production attained the maximum volume at 1.8M tons in 2022; afterwards, it flattened through to 2024.

In value terms, expanded metal production stood at $5.1B in 2024 estimated in export price. In general, the total production indicated strong growth from 2013 to 2024: its value increased at an average annual rate of +6.0% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, production decreased by -8.0% against 2022 indices. The most prominent rate of growth was recorded in 2022 with an increase of 33% against the previous year. As a result, production reached the peak level of $5.5B. From 2023 to 2024, global production growth failed to regain momentum.

Production By Country

China (501K tons) constituted the country with the largest volume of expanded metal production, accounting for 28% of total volume. Moreover, expanded metal production in China exceeded the figures recorded by the second-largest producer, the United States (180K tons), threefold. The third position in this ranking was taken by India (171K tons), with a 9.7% share.

In China, expanded metal production expanded at an average annual rate of +4.5% over the period from 2013-2024. The remaining producing countries recorded the following average annual rates of production growth: the United States (+5.8% per year) and India (+3.4% per year).

Imports

World Imports of Iron Or Steel Expanded Metal

In 2024, the amount of iron or steel expanded metal imported worldwide declined to 148K tons, which is down by -14.5% against the previous year's figure. In general, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by 8.2%. Global imports peaked at 184K tons in 2019; however, from 2020 to 2024, imports remained at a lower figure.

In value terms, expanded metal imports reduced to $344M in 2024. Over the period under review, total imports indicated a mild increase from 2013 to 2024: its value increased at an average annual rate of +1.6% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, imports decreased by -21.6% against 2022 indices. The pace of growth was the most pronounced in 2021 with an increase of 46%. Global imports peaked at $439M in 2022; however, from 2023 to 2024, imports failed to regain momentum.

Imports By Country

The United States (16K tons) and France (15K tons) represented roughly 21% of total imports in 2024. It was followed by Senegal (8.6K tons), making up a 5.8% share of total imports. Canada (5.7K tons), Italy (5.3K tons), the Czech Republic (5K tons), Portugal (4.7K tons), Mexico (4.4K tons), Brazil (3.4K tons) and Germany (3.4K tons) followed a long way behind the leaders.

From 2013 to 2024, the biggest increases were recorded for Senegal (with a CAGR of +31.0%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($58M) constitutes the largest market for imported iron or steel expanded metal worldwide, comprising 17% of global imports. The second position in the ranking was held by France ($27M), with a 7.8% share of global imports. It was followed by the Czech Republic, with a 3.5% share.

From 2013 to 2024, the average annual growth rate of value in the United States stood at +5.2%. In the other countries, the average annual rates were as follows: France (-2.3% per year) and the Czech Republic (+4.9% per year).

Import Prices By Country

In 2024, the average expanded metal import price amounted to $2,327 per ton, picking up by 4% against the previous year. Over the period under review, import price indicated a noticeable increase from 2013 to 2024: its price increased at an average annual rate of +2.0% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, expanded metal import price decreased by -8.5% against 2022 indices. The pace of growth was the most pronounced in 2021 an increase of 35%. Global import price peaked at $2,543 per ton in 2022; however, from 2023 to 2024, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United States ($3,531 per ton), while Senegal ($856 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by the United States (+7.3%), while the other global leaders experienced mixed trends in the import price figures.

Exports

World Exports of Iron Or Steel Expanded Metal

In 2024, the amount of iron or steel expanded metal exported worldwide amounted to 151K tons, therefore, remained relatively stable against 2023. Over the period under review, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 18%. Over the period under review, the global exports attained the peak figure at 181K tons in 2022; however, from 2023 to 2024, the exports remained at a lower figure.

In value terms, expanded metal exports shrank dramatically to $351M in 2024. Overall, exports enjoyed modest growth. The pace of growth was the most pronounced in 2022 when exports increased by 90% against the previous year. As a result, the exports reached the peak of $839M. From 2023 to 2024, the growth of the global exports remained at a somewhat lower figure.

Exports By Country

China was the major exporting country with an export of about 70K tons, which accounted for 46% of total exports. Mexico (13K tons) held an 8.3% share (based on physical terms) of total exports, which put it in second place, followed by the UK (7.2%) and Italy (6.1%). The following exporters - Germany (4.4K tons), Canada (3.5K tons), Vietnam (3.5K tons), Bosnia and Herzegovina (2.7K tons), the United Arab Emirates (2.6K tons) and France (2.4K tons) - together made up 13% of total exports.

China was also the fastest-growing in terms of the iron or steel expanded metal exports, with a CAGR of +8.3% from 2013 to 2024. At the same time, Vietnam (+5.2%), Bosnia and Herzegovina (+3.1%), the United Arab Emirates (+1.9%) and the UK (+1.7%) displayed positive paces of growth. By contrast, Mexico (-2.0%), Canada (-3.5%), France (-3.8%), Germany (-4.6%) and Italy (-8.2%) illustrated a downward trend over the same period. While the share of China (+26 p.p.) increased significantly in terms of the global exports from 2013-2024, the share of Germany (-2.2 p.p.), Mexico (-2.6 p.p.) and Italy (-10.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($98M), Italy ($53M) and Mexico ($32M) constituted the countries with the highest levels of exports in 2024, with a combined 52% share of global exports. The UK, Germany, Canada, France, Vietnam, the United Arab Emirates and Bosnia and Herzegovina lagged somewhat behind, together accounting for a further 23%.

In terms of the main exporting countries, Vietnam, with a CAGR of +9.6%, saw the highest growth rate of 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

In 2024, the average expanded metal export price amounted to $2,331 per ton, reducing by -17% against the previous year. In general, the export price, however, saw a modest increase. The most prominent rate of growth was recorded in 2022 an increase of 62%. As a result, the export price attained the peak level of $4,640 per ton. From 2023 to 2024, the average export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2024, amid the top suppliers, the country with the highest price was Italy ($5,775 per ton), while China ($1,403 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Canada (+8.0%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform