Kenya: Market for Iron or Steel Wire Products 2024

Market Size for Iron or Steel Wire Products in Kenya

The Kenyan market for iron or steel wire products stood at $X in 2022, increasing by X% against the previous year. Over the period under review, the total consumption indicated a slight expansion from 2012 to 2022: its value 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, consumption decreased by X% against 2018 indices. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Production of Iron or Steel Wire Products in Kenya

In value terms, iron or steel wire product production reached $X in 2022 estimated in export price. In general, production continues to indicate a temperate expansion. The pace of growth appeared the most rapid in 2017 when the production volume increased by X% against the previous year. Iron or steel wire product production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Exports of Iron or Steel Wire Products

Exports from Kenya

In 2022, shipments abroad of iron or steel wire products increased by X% to X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports recorded a perceptible expansion. The most prominent rate of growth was recorded in 2019 when exports increased by X%. Over the period under review, the exports attained the maximum at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, iron or steel wire product exports soared to $X in 2022. In general, exports enjoyed noticeable growth. The pace of growth was the most pronounced in 2019 when exports increased by X%. Over the period under review, the exports reached the maximum in 2022 and are likely to continue growth in the near future.

Exports by Country

Uganda (X tons) was the main destination for iron or steel wire product exports from Kenya, with a X% share of total exports. Moreover, iron or steel wire product exports to Uganda exceeded the volume sent to the second major destination, the Netherlands (X tons), ninefold. The third position in this ranking was held by Tanzania (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Uganda totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (X% per year) and Tanzania (X% per year).

In value terms, Uganda ($X) emerged as the key foreign market for iron or steel wire products exports from Kenya, comprising X% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a X% share of total exports. It was followed by Tanzania, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Uganda amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (X% per year) and Tanzania (X% per year).

Export Prices by Country

In 2022, the average export price for iron or steel wire products amounted to $X per ton, growing by X% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2018 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Uganda ($X per ton), while the average price for exports to the Netherlands ($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 Angola (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Iron or Steel Wire Products

Imports into Kenya

In 2022, overseas purchases of iron or steel wire products were finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports, however, saw a deep reduction. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, iron or steel wire product imports surged to $X in 2022. Overall, imports, however, saw a abrupt decrease. The growth pace was the most rapid in 2019 with an increase of X%. Imports peaked at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of iron or steel wire product to Kenya, with a X% share of total imports. Moreover, iron or steel wire product imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), tenfold. Egypt (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and Egypt (X% per year).

In value terms, China ($X) constituted the largest supplier of iron or steel wire products to Kenya, comprising X% of total imports. The second position in the ranking was held by India ($X), with a X% share of total imports. It was followed by Indonesia, with a X% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and Indonesia (X% per year).

Import Prices by Country

In 2022, the average import price for iron or steel wire products amounted to $X per ton, declining by X% against the previous year. Overall, the import price showed a slight reduction. The most prominent rate of growth was recorded in 2013 when the average import price increased by X%. As a result, import price reached the peak level of $X per ton. From 2014 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 Indonesia ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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