Europe: Metal Wool Market 2024

Metal Wool Market Size in Europe

In 2022, the Europe metal wool market increased by 9.1% to $X, rising for the fourth year in a row after two years of decline. In general, consumption, however, showed a mild descent. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Metal Wool Production in Europe

In value terms, metal wool production rose modestly to $X in 2022 estimated in export price. Overall, production, however, saw a abrupt setback. The growth pace was the most rapid in 2020 with an increase of 16% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Metal Wool Exports

Exports in Europe

In 2022, after two years of growth, there was significant decline in overseas shipments of iron or steel wool, when their volume decreased by -18.6% to X tons. Overall, exports showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 when exports increased by 14%. The volume of export peaked at X tons in 2021, and then reduced dramatically in the following year.

In value terms, metal wool exports contracted dramatically to $X in 2022. Over the period under review, exports recorded a perceptible downturn. The most prominent rate of growth was recorded in 2021 when exports increased by 17%. As a result, the exports reached the peak of $X, and then contracted rapidly in the following year.

Exports by Country

Italy (X tons) and Germany (X tons) were the largest exporters of iron or steel wool in 2022, accounting for near 19% and 17% of total exports, respectively. The UK (X tons) held the next position in the ranking, followed by the Netherlands (X tons), Sweden (X tons) and Spain (X tons). All these countries together took approx. 30% share of total exports. Portugal (X tons), Belgium (X tons), Luxembourg (X tons), the Czech Republic (X tons), Poland (X tons), France (X tons) and Russia (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Russia (with a CAGR of +27.8%), while the other leaders experienced more modest paces of growth.

In value terms, the largest metal wool supplying countries in Europe were Germany ($X), Italy ($X) and the UK ($X), together comprising 46% of total exports. The Netherlands, France, Poland, Sweden, Belgium, Spain, Portugal, Luxembourg, the Czech Republic and Russia lagged somewhat behind, together comprising a further 42%.

Russia, with a CAGR of +21.3%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Europe stood at $X per ton in 2022, reducing by -8.4% against the previous year. Overall, the export price saw a mild setback. The growth pace was the most rapid in 2018 an increase of 12% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was France ($X per ton), while Portugal ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+5.7%), while the other leaders experienced more modest paces of growth.

Metal Wool Imports

Imports in Europe

After three years of decline, purchases abroad of iron or steel wool increased by 4% to X tons in 2022. In general, imports, however, recorded a perceptible setback. The most prominent rate of growth was recorded in 2016 when imports increased by 6.2% against the previous year. The volume of import peaked at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, metal wool imports totaled $X in 2022. Over the period under review, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 11%. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Germany (X tons), the UK (X tons), Russia (X tons), France (X tons), the Netherlands (X tons), Italy (X tons) and Spain (X tons) was the largest importer of iron or steel wool in Europe, mixing up 64% of total import. Ireland (X tons), Romania (X tons), Belgium (X tons), Poland (X tons), Portugal (X tons) and the Czech Republic (X tons) took a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for Portugal (with a CAGR of +4.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest metal wool importing markets in Europe were the UK ($X), Germany ($X) and France ($X), together accounting for 34% of total imports. Spain, Russia, Italy, the Netherlands, Ireland, Romania, Poland, Belgium, Portugal and the Czech Republic lagged somewhat behind, together comprising a further 46%.

Romania, with a CAGR of +8.9%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Europe amounted to $X per ton, reducing by -1.6% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.3%. The pace of growth appeared the most rapid in 2021 when the import price increased by 21%. As a result, import price attained the peak level of $X per ton, and then contracted slightly in the following year.

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 France ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ireland (+7.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform