Estonia: Market for Hot-Rolled Wire Rod In Coil Of Stainless Steel 2025

Market Size for Hot-Rolled Wire Rod In Coil Of Stainless Steel in Estonia

The Estonian market for hot-rolled wire rod in coil of stainless steel surged to $X in 2022, growing by 62% against the previous year. In general, consumption continues to indicate significant growth. Hot-rolled wire stainless steel rod consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Production of Hot-Rolled Wire Rod In Coil Of Stainless Steel in Estonia

In value terms, hot-rolled wire stainless steel rod production dropped slightly to $X in 2022 estimated in export price. Overall, production, however, recorded a slight contraction. The pace of growth was the most pronounced in 2017 with an increase of 4.7% against the previous year. Hot-rolled wire stainless steel rod production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Exports of Hot-Rolled Wire Rod In Coil Of Stainless Steel

Exports from Estonia

In 2022, approx. X tons of hot-rolled wire rod in coil of stainless steel were exported from Estonia; which is down by -34.1% on 2021 figures. In general, exports, however, posted a significant expansion. The pace of growth was the most pronounced in 2019 when exports increased by 1,145%. Over the period under review, the exports attained the peak figure at X tons in 2021, and then reduced dramatically in the following year.

In value terms, hot-rolled wire stainless steel rod exports shrank to $X in 2022. Over the period under review, exports, however, recorded significant growth. The pace of growth was the most pronounced in 2019 when exports increased by 822% against the previous year. The exports peaked at $X in 2021, and then contracted in the following year.

Exports by Country

Finland (X tons) was the main destination for hot-rolled wire stainless steel rod exports from Estonia, accounting for a 80% share of total exports. Moreover, hot-rolled wire stainless steel rod exports to Finland exceeded the volume sent to the second major destination, Latvia (X tons), fourfold.

From 2013 to 2022, the average annual rate of growth in terms of volume to Finland totaled +65.9%.

In value terms, Finland ($X) remains the key foreign market for hot-rolled wire rod in coil of stainless steel exports from Estonia, comprising 79% of total exports. The second position in the ranking was held by Latvia ($X), with a 21% share of total exports.

From 2013 to 2022, the average annual growth rate of value to Finland stood at +81.9%.

Export Prices by Country

In 2022, the average export price for hot-rolled wire rod in coil of stainless steel amounted to $X per ton, increasing by 37% against the previous year. Over the period under review, the export price, however, saw a dramatic downturn. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Latvia ($X per ton), while the average price for exports to Finland totaled $X per ton.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Latvia (+18.8%).

Imports of Hot-Rolled Wire Rod In Coil Of Stainless Steel

Imports into Estonia

Hot-rolled wire stainless steel rod imports into Estonia soared to X tons in 2022, jumping by 39% compared with the previous year's figure. Over the period under review, imports enjoyed a significant increase. The pace of growth appeared the most rapid in 2014 with an increase of 2,724%. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, hot-rolled wire stainless steel rod imports soared to $X in 2022. Overall, imports saw a significant increase. The most prominent rate of growth was recorded in 2014 when imports increased by 2,571% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Finland (X tons) constituted the largest supplier of hot-rolled wire stainless steel rod to Estonia, accounting for a 42% share of total imports. Moreover, hot-rolled wire stainless steel rod imports from Finland exceeded the figures recorded by the second-largest supplier, Germany (X tons), twofold. India (X tons) ranked third in terms of total imports with a 20% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Finland totaled +89.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+715.7% per year) and India (+115.5% per year).

In value terms, Finland ($X) constituted the largest supplier of hot-rolled wire rod in coil of stainless steel to Estonia, comprising 46% of total imports. The second position in the ranking was held by India ($X), with a 20% share of total imports. It was followed by Germany, with a 19% share.

From 2012 to 2022, the average annual growth rate of value from Finland amounted to +96.9%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+106.1% per year) and Germany (+772.1% per year).

Import Prices by Country

In 2022, the average import price for hot-rolled wire rod in coil of stainless steel amounted to $X per ton, growing by 14% against the previous year. In general, the import price, however, continues to indicate a deep downturn. The pace of growth was the most pronounced in 2017 when the average import price increased by 148% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lithuania (+14.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform