Greece: Market for Iron and Steel Wire 2025

Market Size for Iron and Steel Wire in Greece

The Greek iron and steel wire market surged to $X in 2021, picking up by 21% against the previous year. In general, the total consumption indicated a noticeable increase from 2012 to 2021: its value increased at an average annual rate of +2.2% 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 +70.9% against 2017 indices. Over the period under review, the market hit record highs in 2021 and is likely to continue growth in the immediate term.

Production of Iron and Steel Wire in Greece

In value terms, iron and steel wire production surged to $X in 2021 estimated in export price. Overall, the total production indicated a mild increase from 2012 to 2021: its value increased at an average annual rate of +1.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +58.7% against 2016 indices. The pace of growth was the most pronounced in 2013 when the production volume increased by 19% against the previous year. Iron and steel wire production peaked at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Exports of Iron and Steel Wire

Exports from Greece

Iron and steel wire exports from Greece rose markedly to X tons in 2021, increasing by 5.7% against the year before. The total export volume increased at an average annual rate of +3.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 with an increase of 40%. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, iron and steel wire exports skyrocketed to $X in 2021. Over the period under review, total exports indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +3.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 when exports increased by 51%. The exports peaked in 2021 and are likely to continue growth in the immediate term.

Exports by Country

Romania (X tons), North Macedonia (X tons) and Italy (X tons) were the main destinations of iron and steel wire exports from Greece, together comprising 62% of total exports. These countries were followed by Serbia, Albania, Bosnia and Herzegovina, Cyprus, Algeria, Ecuador and South Africa, which together accounted for a further 28%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by South Africa (with a CAGR of +150.2%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for iron and steel wire exported from Greece were Romania ($X), North Macedonia ($X) and Italy ($X), with a combined 56% share of total exports. Serbia, Cyprus, Albania, Bosnia and Herzegovina, Algeria, Ecuador and South Africa lagged somewhat behind, together accounting for a further 31%.

Among the main countries of destination, South Africa, with a CAGR of +180.2%, recorded 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 average iron and steel wire export price amounted to $X per ton, rising by 33% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Cyprus ($X per ton), while the average price for exports to North Macedonia ($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 South Africa (+12.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Iron and Steel Wire

Imports into Greece

In 2021, the amount of iron and steel wire imported into Greece expanded significantly to X tons, surging by 7.5% against 2020. The total import volume increased at an average annual rate of +1.5% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2018 when imports increased by 28% against the previous year. Imports peaked in 2021 and are expected to retain growth in years to come.

In value terms, iron and steel wire imports skyrocketed to $X in 2021. Over the period under review, total imports indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +4.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 when imports increased by 48% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to see steady growth in years to come.

Imports by Country

In 2021, Turkey (X tons) constituted the largest iron and steel wire supplier to Greece, accounting for a 28% share of total imports. Moreover, iron and steel wire imports from Turkey exceeded the figures recorded by the second-largest supplier, Albania (X tons), twofold. The third position in this ranking was taken by Italy (X tons), with an 11% share.

From 2012 to 2021, the average annual growth rate of volume from Turkey stood at +16.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Albania (+90.6% per year) and Italy (+6.7% per year).

In value terms, Turkey ($X), Italy ($X) and Albania ($X) were the largest iron and steel wire suppliers to Greece, with a combined 41% share of total imports.

In terms of the main suppliers, Albania, with a CAGR of +98.3%, 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 iron and steel wire import price stood at $X per ton in 2021, increasing by 33% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.3%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Slovakia (+18.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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