Benelux: Market for Hot-Rolled Non-Alloy Steel Wire Rods 2024

Market Size for Hot-Rolled Non-Alloy Steel Wire Rods in Benelux

In 2021, the Benelux market for hot-rolled non-alloy steel wire rods was finally on the rise to reach $X after two years of decline. The market value increased at an average annual rate of +2.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market remained at a somewhat lower figure.

Production of Hot-Rolled Non-Alloy Steel Wire Rods in Benelux

In value terms, hot-rolled non-alloy steel wire rod production expanded remarkably to $X in 2021 estimated in export price. In general, production, however, saw a slight decline. The most prominent rate of growth was recorded in 2018 when the production volume increased by 39% against the previous year. The level of production peaked at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Exports of Hot-Rolled Non-Alloy Steel Wire Rods

Exports in Benelux

In 2021, after two years of decline, there was significant growth in overseas shipments of hot-rolled non-alloy steel wire rods, when their volume increased by 96% to X tons. Overall, exports, however, continue to indicate a relatively flat trend pattern. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, hot-rolled non-alloy steel wire rod exports surged to $X in 2021. In general, exports enjoyed a modest increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Belgium represented the major exporter of hot-rolled non-alloy steel wire rods in Benelux, with the volume of exports amounting to X tons, which was near 86% of total exports in 2021. It was distantly followed by the Netherlands (X tons), mixing up a 14% share of total exports.

Belgium was also the fastest-growing in terms of the hot-rolled non-alloy steel wire rods exports, with a CAGR of +2.2% from 2012 to 2021. The Netherlands (-9.6%) illustrated a downward trend over the same period. While the share of Belgium (+19 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of the Netherlands (-18.7 p.p.) displayed negative dynamics.

In value terms, Belgium ($X) remains the largest hot-rolled non-alloy steel wire rod supplier in Benelux, comprising 85% of total exports. The second position in the ranking was held by the Netherlands ($X), with a 15% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Belgium totaled +3.3%.

Export Prices by Country

The export price in Benelux stood at $X per ton in 2021, rising by 57% against the previous year. Export price indicated noticeable growth from 2012 to 2021: its price increased at an average annual rate of +2.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while Belgium stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+6.2%).

Imports of Hot-Rolled Non-Alloy Steel Wire Rods

Imports in Benelux

In 2021, after two years of decline, there was significant growth in supplies from abroad of hot-rolled non-alloy steel wire rods, when their volume increased by 6.3% to X tons. Over the period under review, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when imports increased by 26%. Over the period under review, imports attained the peak figure at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, hot-rolled non-alloy steel wire rod imports soared to $X in 2021. Total imports indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +2.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The Netherlands was the key importer of hot-rolled non-alloy steel wire rods in Benelux, with the volume of imports amounting to X tons, which was approx. 62% of total imports in 2021. It was distantly followed by Belgium (X tons), making up a 34% share of total imports. Luxembourg (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Belgium (with a CAGR of +7.4%), while imports for the other leaders experienced a decline in the imports figures.

In value terms, the Netherlands ($X), Belgium ($X) and Luxembourg ($X) were the countries with the highest levels of imports in 2021.

Among the main importing countries, Belgium, with a CAGR of +8.7%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2021, the import price in Benelux amounted to $X per ton, with an increase of 45% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.9%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Belgium ($X per ton), while the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+3.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform