Portugal: Market for Iron and Steel Wire 2025

Market Size for Iron and Steel Wire in Portugal

In 2021, the Portuguese iron and steel wire market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. In general, consumption, however, showed a pronounced decrease. Iron and steel wire consumption peaked at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Production of Iron and Steel Wire in Portugal

In value terms, iron and steel wire production skyrocketed to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a mild downturn. The most prominent rate of growth was recorded in 2016 when the production volume increased by 40% against the previous year. Iron and steel wire production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Exports of Iron and Steel Wire

Exports from Portugal

In 2021, the amount of iron and steel wire exported from Portugal rose notably to X tons, picking up by 8.4% against the previous year's figure. Overall, total exports indicated a tangible expansion from 2012 to 2021: its volume increased at an average annual rate of +3.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +106.0% against 2014 indices. The pace of growth was the most pronounced in 2017 with an increase of 34%. The exports peaked in 2021 and are likely to continue growth in the immediate term.

In value terms, iron and steel wire exports surged to $X in 2021. In general, exports recorded a moderate increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Spain (X tons) was the main destination for iron and steel wire exports from Portugal, accounting for a 39% share of total exports. Moreover, iron and steel wire exports to Spain exceeded the volume sent to the second major destination, Germany (X tons), fourfold. The third position in this ranking was taken by the UK (X tons), with a 7.2% share.

From 2012 to 2021, the average annual growth rate of volume to Spain amounted to +5.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+30.4% per year) and the UK (+7.6% per year).

In value terms, Spain ($X) remains the key foreign market for iron and steel wire exports from Portugal, comprising 39% of total exports. The second position in the ranking was taken by Germany ($X), with an 8.3% share of total exports. It was followed by the UK, with a 7.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Spain amounted to +6.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+21.3% per year) and the UK (+7.9% per year).

Export Prices by Country

In 2021, the average iron and steel wire export price amounted to $X per ton, jumping by 49% against the previous year. Overall, export price indicated mild growth from 2012 to 2021: its price increased at an average annual rate of +1.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major overseas markets. In 2021, amid the top suppliers, the countries with the highest prices were Angola ($X per ton) and Morocco ($X per ton), while the average price for exports to Peru ($X per ton) and Italy ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Angola (+4.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Iron and Steel Wire

Imports into Portugal

In 2021, purchases abroad of iron and steel wire increased by 15% to X tons for the first time since 2018, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +3.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, iron and steel wire imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +3.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. 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 Poland (X tons) were the main suppliers of iron and steel wire imports to Portugal, with a combined 59% share of total imports.

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 +22.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Spain ($X), Turkey ($X) and Poland ($X) constituted the largest iron and steel wire suppliers to Portugal, with a combined 53% share of total imports.

Turkey, with a CAGR of +24.4%, 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 iron and steel wire import price stood at $X per ton in 2021, with an increase of 27% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The import price peaked at $X per ton in 2012; afterwards, it flattened through to 2021.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+2.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :