Belgium: Market for Iron and Steel Wire 2024

Market Size for Iron and Steel Wire in Belgium

After two years of decline, the Belgian iron and steel wire market increased by 11% to $X in 2021. In general, consumption, however, recorded a noticeable decrease. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market remained at a lower figure.

Production of Iron and Steel Wire in Belgium

In value terms, iron and steel wire production rose sharply to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a noticeable curtailment. The growth pace was the most rapid in 2018 with an increase of 41% against the previous year. Iron and steel wire production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Exports of Iron and Steel Wire

Exports from Belgium

In 2021, iron and steel wire exports from Belgium soared to X tons, surging by 29% on the previous year's figure. In general, exports, however, continue to indicate a pronounced shrinkage. The pace of growth was the most pronounced in 2018 when exports increased by 41% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, iron and steel wire exports surged to $X in 2021. Over the period under review, exports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 151%. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

France (X tons), the Netherlands (X tons) and Germany (X tons) were the main destinations of iron and steel wire exports from Belgium, with a combined 58% share of total exports. Italy, Egypt, Spain, the United States, Turkey, Poland and the UK lagged somewhat behind, together comprising a further 29%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of +49.4%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for iron and steel wire exported from Belgium were France ($X), Germany ($X) and Italy ($X), with a combined 45% share of total exports. The Netherlands, Spain, the United States, Turkey, Poland, Egypt and the UK lagged somewhat behind, together accounting for a further 30%.

In terms of the main countries of destination, Turkey, with a CAGR of +28.8%, saw the highest growth rate of 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 iron and steel wire export price stood at $X per ton in 2021, growing by 7.8% against the previous year. Over the period under review, export price indicated measured growth from 2012 to 2021: its price increased at an average annual rate of +4.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when the average export price increased by 78%. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Egypt ($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 Poland (+8.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Iron and Steel Wire

Imports into Belgium

In 2021, supplies from abroad of iron and steel wire increased by 36% to X tons, rising for the second year in a row after three years of decline. Overall, imports, however, continue to indicate a perceptible descent. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, iron and steel wire imports surged to $X in 2021. In general, imports, however, continue to indicate a deep contraction. Imports peaked at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The Netherlands (X tons), Turkey (X tons) and Germany (X tons) were the main suppliers of iron and steel wire imports to Belgium, with a combined 51% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Turkey (with a CAGR of +26.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest iron and steel wire suppliers to Belgium were the Netherlands ($X), China ($X) and Turkey ($X), with a combined 43% share of total imports.

Among the main suppliers, Turkey, with a CAGR of +22.7%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average iron and steel wire import price stood at $X per ton in 2021, shrinking by -4.3% against the previous year. Over the period under review, the import price continues to indicate a pronounced shrinkage. The most prominent rate of growth was recorded in 2018 an increase of 24%. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, 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 the United States ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+2.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :