Scandinavia: Market for Iron and Steel Wire 2025

Market Size for Iron and Steel Wire in Scandinavia

The Scandinavia iron and steel wire market soared to $X in 2021, jumping by 20% against the previous year. Over the period under review, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Production of Iron and Steel Wire in Scandinavia

In value terms, iron and steel wire production surged to $X in 2021 estimated in export price. In general, production, however, continues to indicate a slight reduction. The level of production peaked at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Exports of Iron and Steel Wire

Exports in Scandinavia

In 2021, overseas shipments of iron and steel wire were finally on the rise to reach X tons after three years of decline. In general, exports continue to indicate a relatively flat trend pattern. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, iron and steel wire exports surged to $X in 2021. Overall, exports saw a relatively flat trend pattern. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Sweden dominates exports structure, finishing at X tons, which was near 90% of total exports in 2021. It was distantly followed by Denmark (X tons), making up a 6.6% share of total exports. The following exporters - Norway (X tons) and Finland (X tons) - each accounted for a 3.3% share of total exports.

Sweden experienced a relatively flat trend pattern with regard to volume of exports of iron and steel wire. At the same time, Norway (+3.2%) and Denmark (+3.0%) displayed positive paces of growth. Moreover, Norway emerged as the fastest-growing exporter exported in Scandinavia, with a CAGR of +3.2% from 2012-2021. By contrast, Finland (-5.3%) illustrated a downward trend over the same period. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Sweden ($X) remains the largest iron and steel wire supplier in Scandinavia, comprising 92% of total exports. The second position in the ranking was held by Denmark ($X), with a 6.1% share of total exports. It was followed by Norway, with a 1.7% share.

From 2012 to 2021, the average annual growth rate of value in Sweden was relatively modest. The remaining exporting countries recorded the following average annual rates of exports growth: Denmark (+2.3% per year) and Norway (+2.7% per year).

Export Prices by Country

The export price in Scandinavia stood at $X per ton in 2021, surging by 21% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The level of export peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Sweden ($X per ton), while Finland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (-0.3%), while the other leaders experienced a decline in the export price figures.

Imports of Iron and Steel Wire

Imports in Scandinavia

In 2021, purchases abroad of iron and steel wire increased by 15% to X tons, rising for the second year in a row after two years of decline. The total import volume increased at an average annual rate of +1.4% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, iron and steel wire imports skyrocketed to $X in 2021. In general, imports continue to indicate a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Sweden (X tons) represented the key importer of iron and steel wire, mixing up 40% of total imports. Denmark (X tons) took a 24% share (based on physical terms) of total imports, which put it in second place, followed by Finland (19%) and Norway (16%).

From 2012 to 2021, the biggest increases were recorded for Denmark (with a CAGR of +3.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest iron and steel wire importing markets in Scandinavia were Sweden ($X), Denmark ($X) and Finland ($X), together comprising 84% of total imports.

Among the main importing countries, Denmark, with a CAGR of +2.3%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in Scandinavia stood at $X per ton in 2021, jumping by 23% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Denmark ($X per ton) and Norway ($X per ton), while Finland ($X per ton) and Sweden ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Norway (-0.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform