Norway: Market for Iron or Steel Wire Products 2024

Market Size for Iron or Steel Wire Products in Norway

The Norwegian market for iron or steel wire products rose notably to $X in 2022, increasing by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated a resilient increase 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 increased by X% against 2019 indices. Iron or steel wire product consumption peaked in 2022 and is likely to see steady growth in the immediate term.

Exports of Iron or Steel Wire Products

Exports from Norway

In 2022, approx. X tons of iron or steel wire products were exported from Norway; with a decrease of X% compared with the year before. Overall, exports, however, posted a buoyant expansion. The most prominent rate of growth was recorded in 2014 when exports increased by X%. Over the period under review, the exports attained the maximum at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, iron or steel wire product exports shrank rapidly to $X in 2022. In general, exports, however, enjoyed a slight expansion. The pace of growth appeared the most rapid in 2014 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then shrank sharply in the following year.

Exports by Country

Lithuania (X tons) was the main destination for iron or steel wire product exports from Norway, with a X% share of total exports. Moreover, iron or steel wire product exports to Lithuania exceeded the volume sent to the second major destination, Sweden (X tons), fourfold. The third position in this ranking was held by Germany (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Lithuania stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (X% per year) and Germany (X% per year).

In value terms, Lithuania ($X), Sweden ($X) and Italy ($X) constituted the largest markets for iron or steel wire product exported from Norway worldwide, with a combined X% share of total exports. Germany, the Netherlands, Azerbaijan and Switzerland lagged somewhat behind, together accounting for a further X%.

In terms of the main countries of destination, Azerbaijan, with a CAGR of X%, saw 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

The average export price for iron or steel wire products stood at $X per ton in 2022, shrinking by X% against the previous year. Over the period under review, the export price showed a abrupt curtailment. The most prominent rate of growth was recorded in 2021 when the average export price increased by X%. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 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 the Netherlands ($X per ton), while the average price for exports to Lithuania ($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 the Netherlands (X%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Iron or Steel Wire Products

Imports into Norway

In 2022, the amount of iron or steel wire products imported into Norway surged to X tons, jumping by X% on 2021 figures. In general, imports recorded a resilient increase. The most prominent rate of growth was recorded in 2016 with an increase of X%. Over the period under review, imports reached the maximum in 2022 and are likely to continue growth in years to come.

In value terms, iron or steel wire product imports stood at $X in 2022. Over the period under review, total imports indicated buoyant growth 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, imports increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2022, Germany (X tons) constituted the largest iron or steel wire product supplier to Norway, with a X% share of total imports. Moreover, iron or steel wire product imports from Germany exceeded the figures recorded by the second-largest supplier, Lithuania (X tons), threefold. Denmark (X tons) ranked third in terms of total imports with an X% share.

From 2012 to 2022, the average annual growth rate of volume from Germany amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Lithuania (X% per year) and Denmark (X% per year).

In value terms, the largest iron or steel wire product suppliers to Norway were Germany ($X), Denmark ($X) and Sweden ($X), with a combined X% share of total imports.

Denmark, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of 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 import price for iron or steel wire products stood at $X per ton in 2022, shrinking by X% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

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

Source: IndexBox Platform

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