Norway: Stranded Wire Market 2025

Stranded Wire Market Size in Norway

In 2021, the Norwegian stranded wire market increased by 33% to $X for the first time since 2017, thus ending a three-year declining trend. The market value increased at an average annual rate of +2.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Stranded Wire Production in Norway

In value terms, stranded wire production amounted to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 when the production volume increased by 19%. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Stranded Wire Exports

Exports from Norway

After three years of growth, shipments abroad of stranded wire, ropes and cables decreased by -31.7% to X tons in 2021. Overall, exports showed a abrupt setback. The most prominent rate of growth was recorded in 2015 with an increase of 31% against the previous year. As a result, the exports attained the peak of X tons. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, stranded wire exports rose modestly to $X in 2021. In general, exports continue to indicate a drastic downturn. The pace of growth appeared the most rapid in 2015 with an increase of 58%. As a result, the exports reached the peak of $X. From 2016 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Russia (X tons) was the main destination for stranded wire exports from Norway, accounting for a 44% share of total exports. Moreover, stranded wire exports to Russia exceeded the volume sent to the second major destination, the UK (X tons), fivefold. The third position in this ranking was held by Denmark (X tons), with a 7.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Russia totaled +10.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (-9.3% per year) and Denmark (-2.7% per year).

In value terms, Russia ($X) remains the key foreign market for stranded wire, ropes and cables exports from Norway, comprising 29% of total exports. The second position in the ranking was taken by Italy ($X), with a 12% share of total exports. It was followed by the UK, with a 9.2% share.

From 2012 to 2021, the average annual growth rate of value to Russia stood at +14.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+35.2% per year) and the UK (-11.8% per year).

Export Prices by Country

In 2021, the average stranded wire export price amounted to $X per ton, increasing by 50% against the previous year. Over the last nine-year period, it increased at an average annual rate of +5.3%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Faroe Islands ($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 Netherlands (+18.0%), while the prices for the other major destinations experienced more modest paces of growth.

Stranded Wire Imports

Imports into Norway

In 2021, supplies from abroad of stranded wire, ropes and cables was finally on the rise to reach X tons after three years of decline. Overall, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 13% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports failed to regain momentum.

In value terms, stranded wire imports skyrocketed to $X in 2021. Over the period under review, imports continue to indicate a relatively flat trend pattern. Imports peaked at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

Sweden (X tons), Spain (X tons) and the UK (X tons) were the main suppliers of stranded wire imports to Norway, together accounting for 56% of total imports. Turkey, China, Germany, the Netherlands, Denmark, India, Austria, Poland and Italy lagged somewhat behind, together comprising a further 38%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of +118.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Sweden ($X) and the UK ($X) appeared to be the largest stranded wire suppliers to Norway, with a combined 45% share of total imports. These countries were followed by Turkey, Spain, the Netherlands, China, Denmark, Austria, India, Italy and Poland, which together accounted for a further 46%.

Among the main suppliers, Turkey, with a CAGR of +134.3%, saw the highest rates of growth with regard to 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

The average stranded wire import price stood at $X per ton in 2021, with an increase of 33% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. As a result, import price reached 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 ($X per ton), while the price for Sweden ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+7.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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