SADC: Market for Iron or Steel Wire Products 2024

Market Size for Iron or Steel Wire Products in SADC

The SADC market for iron or steel wire products dropped to $X in 2022, waning by X% against the previous year. Over the period under review, consumption continues to indicate a pronounced decrease. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Production of Iron or Steel Wire Products in SADC

In value terms, iron or steel wire product production contracted to $X in 2022 estimated in export price. In general, production recorded a pronounced reduction. The pace of growth appeared the most rapid in 2017 with an increase of X%. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Iron or Steel Wire Products

Exports in SADC

In 2022, exports of iron or steel wire products in SADC totaled X tons, picking up by X% compared with the previous year. Total exports indicated a perceptible expansion from 2012 to 2022: its volume 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, exports decreased by X% against 2019 indices. The most prominent rate of growth was recorded in 2019 with an increase of X%. As a result, the exports reached the peak of X tons. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, iron or steel wire product exports surged to $X in 2022. Over the period under review, exports continue to indicate a strong increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

South Africa dominates exports structure, resulting at X tons, which was approx. X% of total exports in 2022. Tanzania (X tons) and Botswana (X tons) held a little share of total exports.

Exports from South Africa increased at an average annual rate of X% from 2012 to 2022. At the same time, Tanzania (X%) displayed positive paces of growth. Moreover, Tanzania emerged as the fastest-growing exporter exported in SADC, with a CAGR of X% from 2012-2022. By contrast, Botswana (X%) illustrated a downward trend over the same period. South Africa (X p.p.) and Tanzania (X p.p.) significantly strengthened its position in terms of the total exports, while Botswana saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, South Africa ($X) remains the largest iron or steel wire product supplier in SADC, comprising X% of total exports. The second position in the ranking was held by Tanzania ($X), with a X% share of total exports.

In South Africa, iron or steel wire product exports increased at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Tanzania (X% per year) and Botswana (X% per year).

Export Prices by Country

The export price in SADC stood at $X per ton in 2022, surging by X% against the previous year. Overall, the export price posted a strong increase. 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 amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was South Africa ($X per ton), while Botswana ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (X%), while the other leaders experienced a decline in the export price figures.

Imports of Iron or Steel Wire Products

Imports in SADC

In 2022, supplies from abroad of iron or steel wire products increased by X% to X tons, rising for the fourth year in a row after two years of decline. The total import volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 when imports increased by X%. The volume of import peaked in 2022 and is expected to retain growth in years to come.

In value terms, iron or steel wire product imports rose significantly to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

South Africa represented the major importer of iron or steel wire products in SADC, with the volume of imports resulting at X tons, which was near X% of total imports in 2022. It was distantly followed by Tanzania (X tons) and Democratic Republic of the Congo (X tons), together mixing up a X% share of total imports. The following importers - Zimbabwe (X tons), Angola (X tons), Namibia (X tons) and Madagascar (X tons) - together made up X% of total imports.

From 2012 to 2022, average annual rates of growth with regard to iron or steel wire product imports into South Africa stood at X%. At the same time, Democratic Republic of the Congo (X%), Tanzania (X%), Madagascar (X%) and Zimbabwe (X%) displayed positive paces of growth. Moreover, Democratic Republic of the Congo emerged as the fastest-growing importer imported in SADC, with a CAGR of X% from 2012-2022. By contrast, Angola (X%) and Namibia (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of South Africa, Tanzania and Democratic Republic of the Congo increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) constitutes the largest market for imported iron or steel wire products in SADC, comprising X% of total imports. The second position in the ranking was held by Tanzania ($X), with a X% share of total imports. It was followed by Democratic Republic of the Congo, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in South Africa amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: Tanzania (X% per year) and Democratic Republic of the Congo (X% per year).

Import Prices by Country

The import price in SADC stood at $X per ton in 2022, increasing by X% against the previous year. In general, the import price, however, saw a perceptible decrease. The most prominent rate of growth was recorded in 2017 when the import price increased by X% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Namibia ($X per ton), while Madagascar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Madagascar (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform