Belgium: Market for Iron or Steel Wire Products 2024

Market Size for Iron or Steel Wire Products in Belgium

After two years of growth, the Belgian market for iron or steel wire products decreased by X% to $X in 2022. Overall, consumption, however, posted a resilient expansion. As a result, consumption reached the peak level of $X, and then fell in the following year.

Production of Iron or Steel Wire Products in Belgium

In value terms, iron or steel wire product production declined to $X in 2022 estimated in export price. Overall, production, however, enjoyed a prominent increase. The pace of growth was the most pronounced in 2019 when the production volume increased by X% against the previous year. Iron or steel wire product production peaked at $X in 2021, and then contracted in the following year.

Exports of Iron or Steel Wire Products

Exports from Belgium

In 2022, overseas shipments of iron or steel wire products were finally on the rise to reach X tons for the first time since 2018, thus ending a three-year declining trend. In general, exports, however, recorded a perceptible descent. The growth pace was the most rapid in 2018 when exports increased by X%. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, iron or steel wire product exports rose sharply to $X in 2022. Over the period under review, exports, however, saw a slight decline. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

The Netherlands (X tons), France (X tons) and Poland (X tons) were the main destinations of iron or steel wire product exports from Belgium, with a combined X% share of total exports. Germany, the United States, Spain, Italy, Mexico, Canada, Portugal, Sweden, the UK and Morocco lagged somewhat behind, together comprising a further X%.

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

In value terms, the largest markets for iron or steel wire product exported from Belgium were the Netherlands ($X), France ($X) and Germany ($X), together comprising X% of total exports. Poland, the UK, the United States, Spain, Italy, Canada, Portugal, Sweden, Mexico and Morocco lagged somewhat behind, together comprising a further X%.

In terms of the main countries of destination, Canada, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for iron or steel wire products stood at $X per ton in 2022, leveling off at the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2021 when the average export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton, leveling off in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Poland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the UK (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Iron or Steel Wire Products

Imports into Belgium

After six years of growth, purchases abroad of iron or steel wire products decreased by X% to X tons in 2022. Over the period under review, imports, however, enjoyed a prominent increase. The most prominent rate of growth was recorded in 2019 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then reduced slightly in the following year.

In value terms, iron or steel wire product imports amounted to $X in 2022. Overall, imports, however, continue to indicate prominent growth. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

The Netherlands (X tons), the Czech Republic (X tons) and China (X tons) were the main suppliers of iron or steel wire product imports to Belgium, together accounting for X% of total imports. India, France, Ukraine, Turkey, Egypt and Germany lagged somewhat behind, together accounting for a further X%.

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

In value terms, China ($X), the Czech Republic ($X) and India ($X) appeared to be the largest iron or steel wire product suppliers to Belgium, with a combined X% share of total imports. The Netherlands, Ukraine, Turkey, Germany, France and Egypt lagged somewhat behind, together accounting for a further X%.

Ukraine, with a CAGR of X%, saw the highest rates of growth with regard to 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

In 2022, the average import price for iron or steel wire products amounted to $X per ton, picking up by X% against the previous year. Over the period under review, the import price, however, showed a deep contraction. The pace of growth was the most pronounced in 2014 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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