Portugal: Wire And Cable Market 2024

Wire And Cable Market Size in Portugal

In 2021, the Portuguese wire and cable market decreased by -27.9% to $X, falling for the third consecutive year after two years of growth. In general, consumption continues to indicate a relatively flat trend pattern. Wire and cable consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Wire And Cable Production in Portugal

In value terms, wire and cable production expanded remarkably to $X in 2021 estimated in export price. Overall, production recorded a slight reduction. The most prominent rate of growth was recorded in 2017 when the production volume increased by 14%. Wire and cable production peaked at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Wire And Cable Exports

Exports from Portugal

In 2021, overseas shipments of insulated wire and cable increased by 31% to X tons for the first time since 2016, thus ending a four-year declining trend. Over the period under review, exports, however, recorded a relatively flat trend pattern. Over the period under review, the exports reached the peak figure at X tons in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

In value terms, wire and cable exports surged to $X in 2021. In general, exports saw a relatively flat trend pattern. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Spain (X tons), France (X tons) and Germany (X tons) were the main destinations of wire and cable exports from Portugal, together accounting for 47% of total exports. The UK, Italy, Belgium, Poland, Romania, Angola, Hungary, Mozambique, Sweden and Ireland lagged somewhat behind, together comprising a further 35%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Hungary (with a CAGR of +16.8%), while the other leaders experienced more modest paces of growth.

In value terms, France ($X), Germany ($X) and Spain ($X) constituted the largest markets for wire and cable exported from Portugal worldwide, with a combined 46% share of total exports. The UK, Italy, Poland, Romania, Belgium, Hungary, Angola, Sweden, Mozambique and Ireland lagged somewhat behind, together accounting for a further 37%.

Hungary, with a CAGR of +20.8%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average wire and cable export price stood at $X per ton in 2021, with an increase of 19% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. 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 foreign markets. In 2021, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Ireland ($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 Sweden (+4.4%), while the prices for the other major destinations experienced more modest paces of growth.

Wire And Cable Imports

Imports into Portugal

In 2021, supplies from abroad of insulated wire and cable was finally on the rise to reach X tons after two years of decline. The total import volume increased at an average annual rate of +1.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 with an increase of 22% against the previous year. Over the period under review, imports attained the maximum at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, wire and cable imports soared to $X in 2021. Over the period under review, total imports indicated a measured expansion from 2012 to 2021: its value increased at an average annual rate of +3.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when imports increased by 35%. As a result, imports attained the peak of $X. From 2019 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, Spain (X tons) constituted the largest wire and cable supplier to Portugal, with a 60% share of total imports. Moreover, wire and cable imports from Spain exceeded the figures recorded by the second-largest supplier, Germany (X tons), sixfold. The third position in this ranking was held by Italy (X tons), with a 4.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Spain stood at +3.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-0.2% per year) and Italy (+1.8% per year).

In value terms, Spain ($X) constituted the largest supplier of insulated wire and cable to Portugal, comprising 50% of total imports. The second position in the ranking was taken by Germany ($X), with a 12% share of total imports. It was followed by Italy, with a 6.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Spain stood at +7.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+2.5% per year) and Italy (+4.3% per year).

Import Prices by Country

In 2021, the average wire and cable import price amounted to $X per ton, picking up by 17% against the previous year. Over the last nine years, it increased at an average annual rate of +1.7%. 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 Morocco ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+7.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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