Iran: Wire And Cable Market 2024

Wire And Cable Market Size in Iran

The Iranian wire and cable market expanded modestly to $X in 2021, growing by 4.2% against the previous year. The market value increased at an average annual rate of +3.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market failed to regain momentum.

Wire And Cable Production in Iran

In value terms, wire and cable production rose markedly to $X in 2021 estimated in export price. Over the period under review, the total production indicated a perceptible expansion from 2012 to 2021: its value increased at an average annual rate of +3.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -14.2% against 2017 indices. The pace of growth was the most pronounced in 2017 with an increase of 40% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2021, production growth remained at a lower figure.

Wire And Cable Exports

Exports from Iran

In 2021, overseas shipments of insulated wire and cable were finally on the rise to reach X tons for the first time since 2016, thus ending a four-year declining trend. Over the period under review, exports, however, faced a abrupt slump. The growth pace was the most rapid in 2015 with an increase of 466%. Over the period under review, the exports hit record highs at X tons in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, wire and cable exports fell markedly to $X in 2021. Overall, exports, however, recorded a abrupt setback. The most prominent rate of growth was recorded in 2015 when exports increased by 974% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

Tajikistan (X tons) was the main destination for wire and cable exports from Iran, with a 47% share of total exports. Moreover, wire and cable exports to Tajikistan exceeded the volume sent to the second major destination, Kyrgyzstan (X tons), twofold. Sri Lanka (X tons) ranked third in terms of total exports with a 13% share.

From 2012 to 2021, the average annual growth rate of volume to Tajikistan amounted to -32.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kyrgyzstan (+147.5% per year) and Sri Lanka (-13.8% per year).

In value terms, Tajikistan ($X), China ($X) and Sri Lanka ($X) appeared to be the largest markets for wire and cable exported from Iran worldwide, with a combined 80% share of total exports. These countries were followed by Kyrgyzstan, Azerbaijan, Oman, Ukraine, Georgia, Ethiopia and the United Arab Emirates, which together accounted for a further 12%.

Kyrgyzstan, with a CAGR of +132.3%, saw the highest growth rate of the value of exports, among 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, waning by -30.6% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2015 an increase of 90% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2020, and then fell rapidly in the following year.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Kyrgyzstan ($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 China (+15.6%), while the prices for the other major destinations experienced more modest paces of growth.

Wire And Cable Imports

Imports into Iran

In 2021, purchases abroad of insulated wire and cable decreased by -23.2% to X tons for the first time since 2018, thus ending a two-year rising trend. In general, imports continue to indicate a drastic downturn. The pace of growth was the most pronounced in 2019 with an increase of 33% against the previous year. Over the period under review, imports attained the maximum at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, wire and cable imports skyrocketed to $X in 2021. Overall, imports saw a noticeable slump. Imports peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

Turkey (X tons), China (X tons) and Taiwan (Chinese) (X tons) were the main suppliers of wire and cable imports to Iran, together accounting for 88% of total imports. Bulgaria, the United Arab Emirates, Germany and South Korea lagged somewhat behind, together accounting for a further 5.4%.

From 2012 to 2021, the biggest increases were recorded for Bulgaria (with a CAGR of +70.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest wire and cable suppliers to Iran were China ($X), Turkey ($X) and Germany ($X), together comprising 77% of total imports. Bulgaria, the United Arab Emirates, Taiwan (Chinese) and South Korea lagged somewhat behind, together comprising a further 6.2%.

In terms of the main suppliers, Bulgaria, with a CAGR of +64.8%, 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

In 2021, the average wire and cable import price amounted to $X per ton, jumping by 51% against the previous year. Over the last nine years, it increased at an average annual rate of +1.9%. 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 Germany ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+8.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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