Finland: Market for Iron or Steel Wire Products 2024

Market Size for Iron or Steel Wire Products in Finland

The Finnish market for iron or steel wire products skyrocketed to $X in 2022, with an increase of X% against the previous year. Over the period under review, consumption continues to indicate notable growth. Iron or steel wire product consumption peaked at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Production of Iron or Steel Wire Products in Finland

In value terms, iron or steel wire product production dropped to $X in 2022 estimated in export price. In general, production saw a abrupt decline. The pace of growth was the most pronounced in 2017 when the production volume increased by X%. Iron or steel wire product production peaked at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Exports of Iron or Steel Wire Products

Exports from Finland

Iron or steel wire product exports from Finland reached X tons in 2022, flattening at 2021 figures. Overall, exports recorded a buoyant increase. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. The exports peaked in 2022 and are likely to see steady growth in years to come.

In value terms, iron or steel wire product exports fell rapidly to $X in 2022. In general, exports saw a prominent expansion. The most prominent rate of growth was recorded in 2017 with an increase of X%. The exports peaked at $X in 2021, and then contracted notably in the following year.

Exports by Country

Poland (X tons) was the main destination for iron or steel wire product exports from Finland, accounting for a X% share of total exports. Moreover, iron or steel wire product exports to Poland exceeded the volume sent to the second major destination, Estonia (X tons), more than tenfold. Sweden (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Poland amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Estonia (X% per year) and Sweden (X% per year).

In value terms, Poland ($X) remains the key foreign market for iron or steel wire products exports from Finland, comprising X% of total exports. The second position in the ranking was taken by Estonia ($X), with a X% share of total exports. It was followed by Sweden, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Poland totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Estonia (X% per year) and Sweden (X% per year).

Export Prices by Country

In 2022, the average export price for iron or steel wire products amounted to $X per ton, reducing by X% against the previous year. Over the period under review, the export price recorded a deep downturn. The growth pace was the most rapid in 2014 an increase of X%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Poland ($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 Russia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Iron or Steel Wire Products

Imports into Finland

In 2022, purchases abroad of iron or steel wire products increased by X% to X tons, rising for the fifth year in a row after two years of decline. Over the period under review, imports recorded a strong expansion. The pace of growth was the most pronounced in 2021 when imports increased by X%. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, iron or steel wire product imports soared to $X in 2022. Overall, imports recorded a remarkable increase. The pace of growth was the most pronounced in 2021 when imports increased by X%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the near future.

Imports by Country

Estonia (X tons), China (X tons) and Sweden (X tons) were the main suppliers of iron or steel wire product imports to Finland, with a combined X% share of total imports. Latvia, Germany, Lithuania, Poland, Russia, the Netherlands and South Korea lagged somewhat behind, together accounting for a further X%.

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

In value terms, the largest iron or steel wire product suppliers to Finland were Estonia ($X), China ($X) and Sweden ($X), together accounting for X% of total imports. Germany, Latvia, Poland, Lithuania, the Netherlands, Russia and South Korea lagged somewhat behind, together comprising a further X%.

Latvia, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for iron or steel wire products stood at $X per ton in 2022, approximately reflecting the previous year. Overall, the import price, however, showed a slight decrease. The pace of growth was the most pronounced in 2013 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the average import prices remained at a lower figure.

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

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

Source: IndexBox Platform

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