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

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

The Croatian market for hot-rolled non-alloy steel wire rods surged to $X in 2021, jumping by 56% against the previous year. Overall, consumption recorded resilient growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

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

In value terms, hot-rolled non-alloy steel wire rod production totaled $X in 2021 estimated in export price. In general, production, however, continues to indicate a abrupt setback. The pace of growth appeared the most rapid in 2013 with an increase of 52% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2021, production growth remained at a lower figure.

Exports of Hot-Rolled Non-Alloy Steel Wire Rods

Exports from Croatia

In 2021, shipments abroad of hot-rolled non-alloy steel wire rods decreased by -24.7% to X tons, falling for the third consecutive year after two years of growth. Over the period under review, exports, however, recorded significant growth. The pace of growth appeared the most rapid in 2017 when exports increased by 2,201%. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, hot-rolled non-alloy steel wire rod exports skyrocketed to $X in 2021. Overall, exports, however, recorded a significant expansion. The pace of growth appeared the most rapid in 2017 with an increase of 2,156% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Bosnia and Herzegovina (X tons), Slovenia (X tons) and Hungary (X tons) were the main destinations of hot-rolled non-alloy steel wire rod exports from Croatia, together accounting for 91% of total exports. These countries were followed by Austria, Germany and Serbia, which together accounted for a further 8.9%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Austria (with a CAGR of +196.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for hot-rolled non-alloy steel wire rod exported from Croatia were Bosnia and Herzegovina ($X), Slovenia ($X) and Austria ($X), together comprising 91% of total exports.

Among the main countries of destination, Austria, with a CAGR of +220.7%, saw the highest rates of growth with regard to 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

In 2021, the average export price for hot-rolled non-alloy steel wire rods amounted to $X per ton, increasing by 83% against the previous year. Over the period under review, the export price, however, continues to indicate a noticeable reduction. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Average prices varied somewhat for the major foreign markets. In 2021, amid the top suppliers, the highest price was recorded for prices to Austria ($X per ton) and Hungary ($X per ton), while the average price for exports to Germany ($X per ton) and Slovenia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Austria (+8.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Hot-Rolled Non-Alloy Steel Wire Rods

Imports into Croatia

In 2021, hot-rolled non-alloy steel wire rod imports into Croatia surged to X tons, picking up by 17% on the previous year's figure. Overall, imports enjoyed a buoyant expansion. The growth pace was the most rapid in 2015 with an increase of 36% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to see steady growth in the near future.

In value terms, hot-rolled non-alloy steel wire rod imports surged to $X in 2021. Over the period under review, imports recorded prominent growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Italy (X tons) constituted the largest supplier of hot-rolled non-alloy steel wire rod to Croatia, accounting for a 46% share of total imports. Moreover, hot-rolled non-alloy steel wire rod imports from Italy exceeded the figures recorded by the second-largest supplier, Germany (X tons), twofold. The Czech Republic (X tons) ranked third in terms of total imports with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Italy stood at +13.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+44.3% per year) and the Czech Republic (+9.7% per year).

In value terms, Italy ($X) constituted the largest supplier of hot-rolled non-alloy steel wire rods to Croatia, comprising 46% of total imports. The second position in the ranking was held by Germany ($X), with a 20% share of total imports. It was followed by the Czech Republic, with a 14% share.

From 2012 to 2021, the average annual growth rate of value from Italy stood at +15.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+46.8% per year) and the Czech Republic (+12.5% per year).

Import Prices by Country

In 2021, the average import price for hot-rolled non-alloy steel wire rods amounted to $X per ton, rising by 55% against the previous year. Over the period under review, import price indicated a mild expansion from 2012 to 2021: its price increased at an average annual rate of +1.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were Poland ($X per ton) and the Czech Republic ($X per ton), while the price for Austria ($X per ton) and Bosnia and Herzegovina ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform