Europe: Market for Wire Rod Of Free-Cutting Steel 2024

Market Size for Wire Rod Of Free-Cutting Steel in Europe

The Europe free-cutting steel wire rod market surged to $X in 2022, increasing by X% against the previous year. Overall, consumption continues to indicate a resilient expansion. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Wire Rod Of Free-Cutting Steel in Europe

In value terms, free-cutting steel wire rod production dropped modestly to $X in 2022 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Exports of Wire Rod Of Free-Cutting Steel

Exports in Europe

In 2022, the amount of wire rod of free-cutting steel exported in Europe reduced markedly to X tons, which is down by X% against 2021. Overall, exports continue to indicate a mild downturn. The most prominent rate of growth was recorded in 2021 with an increase of X%. The volume of export peaked at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, free-cutting steel wire rod exports declined to $X in 2022. Total exports indicated a slight expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of X%. The level of export peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The biggest shipments were from Germany (X tons), France (X tons), Switzerland (X tons) and Spain (X tons), together amounting to X% of total export. It was distantly followed by the UK (X tons), comprising a X% share of total exports. The following exporters - the Netherlands (X tons) and Italy (X tons) - together made up X% of total exports.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Switzerland ($X) and France ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined X% share of total exports. Spain, the UK, the Netherlands and Italy lagged somewhat behind, together accounting for a further X%.

Among the main exporting countries, the Netherlands, with a CAGR of X%, 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 2022, the export price in Europe amounted to $X per ton, with an increase of X% against the previous year. Export price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, free-cutting steel wire rod export price increased by X% against 2020 indices. The growth pace was the most rapid in 2021 when the export price increased by X%. Over the period under review, the export prices hit record highs in 2022 and is expected to retain growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Germany ($X per ton) and Switzerland ($X per ton), while the Netherlands ($X per ton) and Italy ($X per ton) were amongst the lowest.

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

Imports of Wire Rod Of Free-Cutting Steel

Imports in Europe

In 2022, approx. X tons of wire rod of free-cutting steel were imported in Europe; reducing by X% against the previous year. Total imports indicated a mild increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, free-cutting steel wire rod imports rose modestly to $X in 2022. Over the period under review, imports, however, enjoyed notable growth. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Italy represented the largest importing country with an import of about X tons, which finished at X% of total imports. Germany (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Spain (X%). The following importers - France (X tons), Belgium (X tons), Poland (X tons) and the UK (X tons) - together made up X% of total imports.

From 2012 to 2022, average annual rates of growth with regard to free-cutting steel wire rod imports into Italy stood at X%. At the same time, Spain (X%), Poland (X%) and Belgium (X%) displayed positive paces of growth. Moreover, Spain emerged as the fastest-growing importer imported in Europe, with a CAGR of X% from 2012-2022. The UK experienced a relatively flat trend pattern. By contrast, France (X%) and Germany (X%) illustrated a downward trend over the same period. While the share of Italy (X p.p.), Spain (X p.p.) and Poland (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Germany (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Italy ($X) constitutes the largest market for imported wire rod of free-cutting steel in Europe, comprising X% of total imports. The second position in the ranking was taken by Germany ($X), with a X% share of total imports. It was followed by Spain, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Italy totaled X%. The remaining importing countries recorded the following average annual rates of imports growth: Germany (X% per year) and Spain (X% per year).

Import Prices by Country

In 2022, the import price in Europe amounted to $X per ton, picking up by X% against the previous year. Import price indicated pronounced growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, free-cutting steel wire rod import price increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. Over the period under review, import prices attained the peak figure in 2022 and is expected to retain growth in years to come.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in the UK ($X per ton) and Belgium ($X per ton), while Spain ($X per ton) and Germany ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform