Ireland: Stranded Wire Market 2024

Stranded Wire Market Size in Ireland

The Irish stranded wire market soared to $X in 2021, rising by 54% against the previous year. Overall, consumption continues to indicate a relatively flat trend pattern. Stranded wire consumption peaked at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Stranded Wire Production in Ireland

In value terms, stranded wire production surged to $X in 2021 estimated in export price. In general, production saw a deep slump. Stranded wire production peaked at $X in 2016; however, from 2017 to 2021, production remained at a lower figure.

Stranded Wire Exports

Exports from Ireland

In 2021, shipments abroad of stranded wire, ropes and cables increased by 79% to X tons for the first time since 2018, thus ending a two-year declining trend. In general, exports enjoyed a significant increase. The pace of growth appeared the most rapid in 2018 with an increase of 1,109%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, stranded wire exports soared to $X in 2021. Over the period under review, exports posted prominent growth. The pace of growth appeared the most rapid in 2018 when exports increased by 502%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the immediate term.

Exports by Country

The UK (X tons) was the main destination for stranded wire exports from Ireland, accounting for a 96% share of total exports. It was followed by Kuwait (X tons), with a 2.6% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to the UK amounted to +46.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kuwait (+295.1% per year) and the United States (-13.5% per year).

In value terms, the UK ($X) remains the key foreign market for stranded wire, ropes and cables exports from Ireland, comprising 65% of total exports. The second position in the ranking was taken by Kuwait ($X), with a 21% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to the UK amounted to +37.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kuwait (+200.0% per year) and the United States (-14.6% per year).

Export Prices by Country

In 2021, the average stranded wire export price amounted to $X per ton, with an increase of 15% against the previous year. Over the period under review, the export price, however, saw a abrupt descent. The pace of growth was the most pronounced in 2016 an increase of 30% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

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 Kuwait ($X per ton), while the average price for exports to the UK ($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 the United States (-1.2%), while the prices for the other major destinations experienced a decline.

Stranded Wire Imports

Imports into Ireland

In 2021, after three years of decline, there was significant growth in purchases abroad of stranded wire, ropes and cables, when their volume increased by 23% to X tons. Over the period under review, total imports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +8.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 with an increase of 30% against the previous year. Imports peaked in 2021 and are likely to continue growth in years to come.

In value terms, stranded wire imports skyrocketed to $X in 2021. Overall, total imports indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +6.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Turkey (X tons), Spain (X tons) and Thailand (X tons) were the main suppliers of stranded wire imports to Ireland, together accounting for 61% of total imports.

From 2012 to 2021, the biggest increases were recorded for Turkey (with a CAGR of +62.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest stranded wire suppliers to Ireland were Turkey ($X), the UK ($X) and Germany ($X), together accounting for 51% of total imports.

Turkey, with a CAGR of +55.4%, recorded 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

The average stranded wire import price stood at $X per ton in 2021, with an increase of 55% against the previous year. In general, the import price, however, continues to indicate a perceptible setback. The import price peaked at $X per ton in 2014; however, from 2015 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 ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Portugal (+3.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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