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

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

In 2021, the EU market for hot-rolled non-alloy steel wire rods decreased by -3.1% to $X, falling for the third consecutive year after two years of growth. Over the period under review, consumption recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market remained at a lower figure.

Production of Hot-Rolled Non-Alloy Steel Wire Rods in the EU

In value terms, hot-rolled non-alloy steel wire rod production declined notably to $X in 2021 estimated in export price. In general, production continues to indicate a noticeable descent. The most prominent rate of growth was recorded in 2018 when the production volume increased by 16% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Exports of Hot-Rolled Non-Alloy Steel Wire Rods

Exports in the EU

In 2021, after two years of decline, there was significant growth in shipments abroad of hot-rolled non-alloy steel wire rods, when their volume increased by 19% to X tons. Overall, exports recorded a relatively flat trend pattern. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, hot-rolled non-alloy steel wire rod exports soared to $X in 2021. Total exports indicated a notable expansion from 2012 to 2021: its value increased at an average annual rate of +2.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, Germany (X tons), Italy (X tons), Spain (X tons), the Czech Republic (X tons), Belgium (X tons), France (X tons), Greece (X tons), Poland (X tons) and Portugal (X tons) represented the key exporter of hot-rolled non-alloy steel wire rods in the European Union, committing 96% of total export.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Greece (with a CAGR of +12.2%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Italy ($X) and Spain ($X) constituted the countries with the highest levels of exports in 2021, together comprising 53% of total exports. Belgium, the Czech Republic, France, Greece, Poland and Portugal lagged somewhat behind, together accounting for a further 43%.

Among the main exporting countries, Greece, with a CAGR of +13.7%, 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 export price in the European Union amounted to $X per ton, jumping by 56% against the previous year. Export price indicated a slight increase 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, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in Germany ($X per ton) and Poland ($X per ton), while Greece ($X per ton) and Portugal ($X per ton) were amongst the lowest.

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

Imports of Hot-Rolled Non-Alloy Steel Wire Rods

Imports in the EU

In 2021, supplies from abroad of hot-rolled non-alloy steel wire rods increased by 19% to X tons for the first time since 2018, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +2.9% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, hot-rolled non-alloy steel wire rod imports skyrocketed to $X in 2021. Total imports indicated a noticeable increase from 2012 to 2021: its value increased at an average annual rate of +4.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The purchases of the twelve major importers of hot-rolled non-alloy steel wire rods, namely the Netherlands, Germany, Italy, Romania, Poland, Belgium, France, Slovakia, Austria, Spain, the Czech Republic and Hungary, represented more than two-thirds of total import.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Poland (with a CAGR of +17.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the Netherlands ($X) and Italy ($X) appeared to be the countries with the highest levels of imports in 2021, together accounting for 32% of total imports. Poland, Romania, Belgium, France, Slovakia, Austria, Spain, the Czech Republic and Hungary lagged somewhat behind, together accounting for a further 53%.

In terms of the main importing countries, Poland, with a CAGR of +19.9%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in the European Union stood at $X per ton in 2021, with an increase of 51% against the previous year. Import price indicated a mild increase from 2012 to 2021: its price increased at an average annual rate of +1.8% over the last nine-year period. 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 somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Slovakia ($X per ton) and France ($X per ton), while the Netherlands ($X per ton) and Romania ($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 Netherlands (+3.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform