United Kingdom: Wire And Cable Market 2024

Wire And Cable Market Size in the UK

The UK wire and cable market surged to $X in 2021, rising by 29% against the previous year. The market value increased at an average annual rate of +1.6% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. Over the period under review, the market attained the maximum level at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Wire And Cable Production in the UK

In value terms, wire and cable production expanded slightly to $X in 2021 estimated in export price. In general, production showed a deep slump. The most prominent rate of growth was recorded in 2018 when the production volume increased by 17%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Wire And Cable Exports

Exports from the UK

For the fourth year in a row, the UK recorded decline in shipments abroad of insulated wire and cable, which decreased by -7.5% to X tons in 2021. Over the period under review, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 16%. As a result, the exports attained the peak of X tons. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, wire and cable exports expanded rapidly to $X in 2021. The total export value increased at an average annual rate of +3.1% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 with an increase of 22%. The exports peaked at $X in 2018; afterwards, it flattened through to 2021.

Exports by Country

Ireland (X tons), Hong Kong SAR (X tons) and the Netherlands (X tons) were the main destinations of wire and cable exports from the UK, with a combined 39% share of total exports. These countries were followed by the United Arab Emirates, Germany, France, Norway, Denmark, Italy, Sweden, Spain, the United States and Indonesia, which together accounted for a further 35%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Indonesia (with a CAGR of +42.4%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Ireland ($X) and Germany ($X) appeared to be the largest markets for wire and cable exported from the UK worldwide, with a combined 30% share of total exports. These countries were followed by the Netherlands, Hong Kong SAR, France, Norway, the United Arab Emirates, Italy, Denmark, Sweden, Spain and Indonesia, which together accounted for a further 37%.

Indonesia, with a CAGR of +23.9%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average wire and cable export price amounted to $X per ton, surging by 14% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.8%. The growth pace was the most rapid in 2014 an increase of 18%. Over the period under review, the average export prices hit record highs in 2021 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+8.7%), while the prices for the other major destinations experienced more modest paces of growth.

Wire And Cable Imports

Imports into the UK

In 2021, supplies from abroad of insulated wire and cable increased by 23% to X tons for the first time since 2016, thus ending a four-year declining trend. The total import volume increased at an average annual rate of +2.1% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. Imports peaked at X tons in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, wire and cable imports soared to $X in 2021. The total import value increased at an average annual rate of +2.5% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Turkey (X tons) constituted the largest supplier of wire and cable to the UK, with a 32% share of total imports. Moreover, wire and cable imports from Turkey exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. The third position in this ranking was held by Italy (X tons), with a 9.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Turkey amounted to +4.8%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+1.5% per year) and Italy (+12.8% per year).

In value terms, Turkey ($X), China ($X) and Germany ($X) constituted the largest wire and cable suppliers to the UK, with a combined 40% share of total imports. Morocco, Italy, Egypt, Poland, India, Greece, Portugal and Spain lagged somewhat behind, together accounting for a further 34%.

Italy, with a CAGR of +12.9%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average wire and cable import price stood at $X per ton in 2021, with an increase of 7.1% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the average import price increased by 13%. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Morocco ($X per ton), while the price for Greece ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+4.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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