Ireland: Market for Iron or Steel Wire Products 2024

Market Size for Iron or Steel Wire Products in Ireland

In 2022, the Irish market for iron or steel wire products increased by X% to $X, rising for the second consecutive year after two years of decline. Overall, consumption posted prominent growth. Iron or steel wire product consumption peaked in 2022 and is likely to see gradual growth in the near future.

Production of Iron or Steel Wire Products in Ireland

In value terms, iron or steel wire product production amounted to $X in 2022 estimated in export price. Overall, production, however, saw a abrupt downturn. The growth pace was the most rapid in 2017 when the production volume increased by X%. Iron or steel wire product production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Exports of Iron or Steel Wire Products

Exports from Ireland

In 2022, overseas shipments of iron or steel wire products increased by X% to X tons, rising for the fourth consecutive year after five years of decline. Overall, exports saw a strong expansion. The growth pace was the most rapid in 2021 when exports increased by X%. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, iron or steel wire product exports surged to $X in 2022. In general, exports recorded a significant expansion. The growth pace was the most rapid in 2021 when exports increased by X%. Over the period under review, the exports attained the peak figure in 2022 and are likely to see gradual growth in the near future.

Exports by Country

The UK (X tons), the United States (X tons) and Costa Rica (X tons) were the main destinations of iron or steel wire product exports from Ireland, together accounting for X% of total exports. China, Israel, Mexico, Switzerland and France lagged somewhat behind, together accounting for a further X%.

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

In value terms, the largest markets for iron or steel wire product exported from Ireland were the United States ($X), Costa Rica ($X) and China ($X), with a combined X% share of total exports.

In terms of the main countries of destination, China, with a CAGR of X%, recorded the highest growth rate of 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 average export price for iron or steel wire products amounted to $X per ton, jumping by X% against the previous year. Overall, the export price showed a prominent expansion. The pace of growth was the most pronounced in 2014 an increase of X%. Over the period under review, the average export prices attained the maximum at $X per ton in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to France ($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 China (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Iron or Steel Wire Products

Imports into Ireland

In 2022, overseas purchases of iron or steel wire products increased by X% to X tons, rising for the second consecutive year after two years of decline. Overall, imports posted a resilient expansion. The pace of growth was the most pronounced in 2021 when imports increased by X%. Over the period under review, imports hit record highs 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. In general, imports recorded strong growth. The growth pace was the most rapid in 2017 when imports increased by X%. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

The UK (X tons), the Czech Republic (X tons) and China (X tons) were the main suppliers of iron or steel wire product imports to Ireland, with a combined X% share of total imports. Belgium, Luxembourg, Germany, Turkey and Taiwan (Chinese) lagged somewhat behind, together accounting for a further X%.

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

In value terms, the UK ($X), China ($X) and the Czech Republic ($X) were the largest iron or steel wire product suppliers to Ireland, with a combined X% share of total imports. Belgium, Germany, Luxembourg, Taiwan (Chinese) and Turkey lagged somewhat behind, together accounting for a further X%.

Luxembourg, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average import price for iron or steel wire products amounted to $X per ton, falling by X% against the previous year. In general, import price indicated a modest 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, iron or steel wire product import price decreased by X% against 2017 indices. The most prominent rate of growth was recorded in 2017 when the average import price increased by X%. As a result, import price reached the peak level of $X per ton. From 2018 to 2022, the average import prices remained at a somewhat lower figure.

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

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

Source: IndexBox Platform

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