Canada: Steel Plaited Band Market 2025

Steel Plaited Band Market Size in Canada

In 2022, the Canadian steel plaited band market increased by 19% to $X, rising for the second year in a row after two years of decline. In general, consumption, however, showed a mild setback. Steel plaited band consumption peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Steel Plaited Band Exports

Exports from Canada

Steel plaited band exports from Canada dropped remarkably to X tons in 2022, declining by -28% compared with 2021 figures. In general, exports, however, posted pronounced growth. The most prominent rate of growth was recorded in 2021 when exports increased by 182%. Over the period under review, the exports attained the maximum at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, steel plaited band exports rose notably to $X in 2022. Over the period under review, exports, however, saw a measured increase. The growth pace was the most rapid in 2021 with an increase of 101%. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for steel plaited band exports from Canada, accounting for a 83% share of total exports. Moreover, steel plaited band exports to the United States exceeded the volume sent to the second major destination, Cuba (X tons), more than tenfold. Greece (X tons) ranked third in terms of total exports with a 1.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at +6.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cuba (+2.1% per year) and Greece (0.0% per year).

In value terms, the United States ($X) remains the key foreign market for iron or steel plaited bands and slings exports from Canada, comprising 89% of total exports. The second position in the ranking was held by Cuba ($X), with a 2.7% share of total exports. It was followed by Greece, with a 1.2% share.

From 2012 to 2022, the average annual growth rate of value to the United States stood at +7.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cuba (+1.4% per year) and Greece (0.0% per year).

Export Prices by Country

In 2022, the average steel plaited band export price amounted to $X per ton, rising by 50% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Chile ($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 United States (+0.4%), while the prices for the other major destinations experienced a decline.

Steel Plaited Band Imports

Imports into Canada

In 2022, purchases abroad of iron or steel plaited bands and slings increased by 12% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, imports, however, recorded a slight decrease. The pace of growth was the most pronounced in 2018 with an increase of 385%. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, steel plaited band imports surged to $X in 2022. Overall, total imports indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +91.6% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 40%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

China (X tons), the United States (X tons) and Japan (X tons) were the main suppliers of steel plaited band imports to Canada, with a combined 88% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Japan (with a CAGR of +38.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), China ($X) and Japan ($X) constituted the largest steel plaited band suppliers to Canada, with a combined 82% share of total imports.

Japan, with a CAGR of +35.1%, 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

The average steel plaited band import price stood at $X per ton in 2022, surging by 23% against the previous year. In general, the import price enjoyed a measured expansion. The growth pace was the most rapid in 2015 when the average import price increased by 367% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

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 Japan ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+2.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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