CIS: Market for Iron or Steel Wire Products 2024

Market Size for Iron or Steel Wire Products in CIS

The CIS market for iron or steel wire products expanded rapidly to $X in 2022, with an increase of X% against the previous year. In general, consumption, however, saw a noticeable decline. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Production of Iron or Steel Wire Products in CIS

In value terms, iron or steel wire product production stood at $X in 2022 estimated in export price. Overall, production, however, saw a noticeable setback. The most prominent rate of growth was recorded in 2017 when the production volume increased by X%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Exports of Iron or Steel Wire Products

Exports in CIS

Iron or steel wire product exports reached X tons in 2022, increasing by X% compared with the previous year. In general, exports posted strong growth. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. The volume of export peaked in 2022 and is expected to retain growth in the near future.

In value terms, iron or steel wire product exports rose modestly to $X in 2022. Overall, exports enjoyed a strong expansion. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the immediate term.

Exports by Country

In 2022, Russia (X tons) represented the major exporter of iron or steel wire products, mixing up X% of total exports. It was distantly followed by Belarus (X tons), creating a X% share of total exports. Uzbekistan (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Russia (with a CAGR of X%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, Russia ($X) remains the largest iron or steel wire product supplier in the CIS, comprising X% of total exports. The second position in the ranking was held by Belarus ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Russia amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: Belarus (X% per year) and Uzbekistan (X% per year).

Export Prices by Country

The export price in the CIS stood at $X per ton in 2022, falling by X% against the previous year. In general, the export price saw a noticeable reduction. The pace of growth appeared the most rapid in 2020 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Uzbekistan ($X per ton), while Belarus ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uzbekistan (X%), while the other leaders experienced a decline in the export price figures.

Imports of Iron or Steel Wire Products

Imports in CIS

In 2022, iron or steel wire product imports in the CIS rose notably to X tons, growing by X% against the year before. Total imports indicated a slight expansion from 2012 to 2022: its volume increased at an average annual rate of X% 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 X% against 2016 indices. The pace of growth appeared the most rapid in 2014 with an increase of X%. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, iron or steel wire product imports expanded slightly to $X in 2022. In general, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

Russia represented the major importing country with an import of around X tons, which accounted for X% of total imports. Kazakhstan (X tons) ranks second in terms of the total imports with a X% share, followed by Belarus (X%) and Uzbekistan (X%). Azerbaijan (X tons), Kyrgyzstan (X tons) and Armenia (X tons) took a relatively small share of total imports.

Russia experienced a relatively flat trend pattern with regard to volume of imports of iron or steel wire products. At the same time, Armenia (X%), Uzbekistan (X%), Kazakhstan (X%) and Kyrgyzstan (X%) displayed positive paces of growth. Moreover, Armenia emerged as the fastest-growing importer imported in the CIS, with a CAGR of X% from 2012-2022. By contrast, Azerbaijan (X%) and Belarus (X%) illustrated a downward trend over the same period. While the share of Kazakhstan (X p.p.) and Uzbekistan (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Belarus (X p.p.) and Russia (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) constitutes the largest market for imported iron or steel wire products in the CIS, comprising X% of total imports. The second position in the ranking was taken by Kazakhstan ($X), with an X% share of total imports. It was followed by Belarus, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Russia stood at X%. In the other countries, the average annual rates were as follows: Kazakhstan (X% per year) and Belarus (X% per year).

Import Prices by Country

In 2022, the import price in the CIS amounted to $X per ton, declining by X% against the previous year. Over the period under review, the import price recorded a mild contraction. The most prominent rate of growth was recorded in 2018 when the import price increased by X%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Azerbaijan ($X per ton), while Uzbekistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uzbekistan (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :