Finland: Wire And Cable Market 2024

Wire And Cable Market Size in Finland

The Finnish wire and cable market soared to $X in 2021, rising by 24% against the previous year. Overall, the total consumption indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +5.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +81.4% against 2018 indices. Wire and cable consumption peaked in 2021 and is expected to retain growth in the immediate term.

Wire And Cable Production in Finland

In value terms, wire and cable production surged to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. Wire and cable production peaked at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Wire And Cable Exports

Exports from Finland

In 2021, overseas shipments of insulated wire and cable were finally on the rise to reach X tons after two years of decline. Over the period under review, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when exports increased by 43%. As a result, the exports attained the peak of X tons. From 2019 to 2021, the growth of the exports remained at a lower figure.

In value terms, wire and cable exports soared to $X in 2021. In general, exports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when exports increased by 32%. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Sweden (X tons), the UK (X tons) and the Netherlands (X tons) were the main destinations of wire and cable exports from Finland, together comprising 52% of total exports.

From 2012 to 2021, the biggest increases were recorded for the UK (with a CAGR of +24.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for wire and cable exported from Finland were Sweden ($X), the UK ($X) and the Netherlands ($X), with a combined 40% share of total exports.

The UK, with a CAGR of +20.5%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average wire and cable export price stood at $X per ton in 2021, picking up by 13% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the average export price increased by 36% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2020 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Lithuania ($X per ton), while the average price for exports to the UK ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Lithuania (+15.5%), while the prices for the other major destinations experienced more modest paces of growth.

Wire And Cable Imports

Imports into Finland

In 2021, overseas purchases of insulated wire and cable increased by 2% to X tons, rising for the second year in a row after three years of decline. The total import volume increased at an average annual rate of +1.1% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 when imports increased by 28%. Imports peaked at X tons in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, wire and cable imports soared to $X in 2021. The total import value increased at an average annual rate of +2.9% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Estonia (X tons), Sweden (X tons) and Germany (X tons) were the main suppliers of wire and cable imports to Finland, with a combined 52% share of total imports. These countries were followed by Russia, Lithuania, China, Italy, Poland, Belarus, the Netherlands, Denmark, Turkey and Spain, which together accounted for a further 38%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Belarus (with a CAGR of +369.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest wire and cable suppliers to Finland were Germany ($X), Sweden ($X) and Estonia ($X), together comprising 48% of total imports. Russia, China, Italy, Lithuania, the Netherlands, Poland, Denmark, Turkey, Spain and Belarus lagged somewhat behind, together comprising a further 34%.

In terms of the main suppliers, Belarus, with a CAGR of +242.2%, recorded 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 average wire and cable import price stood at $X per ton in 2021, with an increase of 19% against the previous year. In general, import price indicated a modest 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. Based on 2021 figures, wire and cable import price decreased by -5.6% against 2019 indices. The pace of growth appeared the most rapid in 2017 an increase of 22%. Over the period under review, average import prices reached the maximum at $X per ton in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+6.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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