Denmark: Metal Wool Market 2024

Metal Wool Market Size in Denmark

The Danish metal wool market reduced notably to $X in 2022, declining by -52.3% against the previous year. In general, consumption saw a abrupt contraction. Metal wool consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Metal Wool Production in Denmark

In value terms, metal wool production totaled $X in 2022 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of 135%. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Metal Wool Exports

Exports from Denmark

In 2022, metal wool exports from Denmark skyrocketed to X tons, rising by 69% on the year before. Over the period under review, exports enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2014 with an increase of 88% against the previous year. The exports peaked in 2022 and are likely to see steady growth in years to come.

In value terms, metal wool exports dropped sharply to $X in 2022. In general, exports showed a moderate expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 134%. As a result, the exports attained the peak of $X, and then dropped dramatically in the following year.

Exports by Country

Finland (X tons) was the main destination for metal wool exports from Denmark, with a 60% share of total exports. Moreover, metal wool exports to Finland exceeded the volume sent to the second major destination, Sweden (X tons), sixfold. Belgium (X tons) ranked third in terms of total exports with a 5.4% share.

From 2012 to 2022, the average annual growth rate of volume to Finland amounted to +23.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (+33.2% per year) and Belgium (-3.5% per year).

In value terms, Finland ($X), Sweden ($X) and Germany ($X) constituted the largest markets for metal wool exported from Denmark worldwide, with a combined 46% share of total exports. Poland, Belgium, Italy, Norway, Iceland, Greenland, Lithuania and the United States lagged somewhat behind, together accounting for a further 43%.

Poland, with a CAGR of +137.2%, recorded the highest rates of growth with regard to the value of exports, among 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 metal wool export price amounted to $X per ton, shrinking by -55.2% against the previous year. Overall, the export price recorded a abrupt setback. The most prominent rate of growth was recorded in 2021 an increase of 52% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Finland ($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 (+44.6%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Wool Imports

Imports into Denmark

In 2022, supplies from abroad of iron or steel wool decreased by -4.6% to X tons, falling for the third year in a row after two years of growth. Overall, imports continue to indicate a perceptible slump. The pace of growth appeared the most rapid in 2018 with an increase of 42% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, metal wool imports declined significantly to $X in 2022. In general, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when imports increased by 37%. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest metal wool supplier to Denmark, accounting for a 55% share of total imports. Moreover, metal wool imports from China exceeded the figures recorded by the second-largest supplier, Ireland (X tons), fivefold. Germany (X tons) ranked third in terms of total imports with a 9.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to -2.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Ireland (-2.8% per year) and Germany (-7.0% per year).

In value terms, China ($X) constituted the largest supplier of iron or steel wool to Denmark, comprising 39% of total imports. The second position in the ranking was held by Ireland ($X), with a 19% share of total imports. It was followed by Germany, with an 18% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +1.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Ireland (-1.1% per year) and Germany (+0.5% per year).

Import Prices by Country

In 2022, the average metal wool import price amounted to $X per ton, declining by -21.6% against the previous year. Over the last decade, it increased at an average annual rate of +2.2%. The pace of growth appeared the most rapid in 2013 an increase of 51%. The import price peaked at $X per ton in 2021, and then fell dramatically in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Portugal ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+8.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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