Belgium: Steel Stranded Wire Market 2024

Steel Stranded Wire Market Size in Belgium

In 2022, the Belgian steel stranded wire market increased by 57% to $X, rising for the second consecutive year after three years of decline. Over the period under review, consumption, however, continues to indicate a slight decline. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Steel Stranded Wire Production in Belgium

In value terms, steel stranded wire production reduced to $X in 2022 estimated in export price. In general, production recorded a perceptible setback. The most prominent rate of growth was recorded in 2017 with an increase of 50%. Steel stranded wire production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Steel Stranded Wire Exports

Exports from Belgium

In 2022, after six years of growth, there was significant decline in overseas shipments of iron or steel stranded wire, ropes and cables, when their volume decreased by -43.4% to X tons. Overall, exports, however, showed a strong expansion. The pace of growth appeared the most rapid in 2018 with an increase of 181% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2021, and then shrank dramatically in the following year.

In value terms, steel stranded wire exports contracted markedly to $X in 2022. Over the period under review, exports, however, showed a strong expansion. The pace of growth appeared the most rapid in 2018 when exports increased by 262% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2021, and then declined rapidly in the following year.

Exports by Country

Germany (X tons), Luxembourg (X tons) and Spain (X tons) were the main destinations of steel stranded wire exports from Belgium, together comprising 63% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Spain (with a CAGR of +46.5%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Italy ($X) and Luxembourg ($X) appeared to be the largest markets for steel stranded wire exported from Belgium worldwide, with a combined 50% share of total exports. The Netherlands, Spain, Poland and France lagged somewhat behind, together accounting for a further 32%.

Poland, with a CAGR of +43.9%, 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 2022, the average steel stranded wire export price amounted to $X per ton, with an increase of 13% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of 29%. As a result, the export price reached the peak level of $X per ton. From 2019 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Spain ($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 Italy (+9.2%), while the prices for the other major destinations experienced more modest paces of growth.

Steel Stranded Wire Imports

Imports into Belgium

In 2022, after two years of growth, there was significant decline in supplies from abroad of iron or steel stranded wire, ropes and cables, when their volume decreased by -13% to X tons. In general, imports, however, showed strong growth. The growth pace was the most rapid in 2020 with an increase of 62% against the previous year. Over the period under review, imports reached the maximum at X tons in 2021, and then shrank in the following year.

In value terms, steel stranded wire imports declined to $X in 2022. Overall, imports, however, posted prominent growth. The pace of growth was the most pronounced in 2020 when imports increased by 40% against the previous year. Imports peaked at $X in 2021, and then contracted in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest steel stranded wire supplier to Belgium, accounting for a 36% share of total imports. Moreover, steel stranded wire imports from China exceeded the figures recorded by the second-largest supplier, Spain (X tons), threefold. Italy (X tons) ranked third in terms of total imports with an 8.8% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +21.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+2.8% per year) and Italy (+5.0% per year).

In value terms, China ($X) constituted the largest supplier of iron or steel stranded wire, ropes and cables to Belgium, comprising 41% of total imports. The second position in the ranking was taken by Germany ($X), with a 9% share of total imports. It was followed by Spain, with an 8.2% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +17.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+3.2% per year) and Spain (+7.4% per year).

Import Prices by Country

The average steel stranded wire import price stood at $X per ton in 2022, growing by 9% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.1%. The pace of growth appeared the most rapid in 2021 an increase of 28%. The 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 supplying countries. In 2022, amid the top importers, the country with the highest price was Slovakia ($X per ton), while the price for Hungary ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+4.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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