South Africa: Stranded Wire Market 2024

Stranded Wire Market Size in South Africa

The South African stranded wire market reached $X in 2021, surging by 4% against the previous year. The market value increased at an average annual rate of +1.3% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market remained at a lower figure.

Stranded Wire Production in South Africa

In value terms, stranded wire production dropped to $X in 2021 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the production volume increased by 22%. As a result, production reached the peak level of $X. From 2014 to 2021, production growth remained at a somewhat lower figure.

Stranded Wire Exports

Exports from South Africa

For the ninth year in a row, South Africa recorded decline in shipments abroad of stranded wire, ropes and cables, which decreased by -19.1% to X tons in 2021. Overall, exports saw a abrupt descent. The smallest decline of -0.3% was in 2018. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, stranded wire exports surged to $X in 2021. In general, exports continue to indicate a abrupt contraction. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Australia (X tons), Namibia (X tons) and Zambia (X tons) were the main destinations of stranded wire exports from South Africa, together comprising 40% of total exports. These countries were followed by Brazil, Zimbabwe, Swaziland, Botswana, the United States, Mozambique, Canada, Ireland, Lesotho and the UK, which together accounted for a further 48%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Ireland (with a CAGR of +236.0%), while the other leaders experienced more modest paces of growth.

In value terms, Zambia ($X), Namibia ($X) and Zimbabwe ($X) constituted the largest markets for stranded wire exported from South Africa worldwide, together comprising 38% of total exports. These countries were followed by Australia, Swaziland, Botswana, Brazil, Canada, the United States, Mozambique, Lesotho, the UK and Ireland, which together accounted for a further 46%.

Among the main countries of destination, Ireland, with a CAGR of +117.4%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average stranded wire export price stood at $X per ton in 2021, growing by 67% against the previous year. In general, export price indicated noticeable growth from 2012 to 2021: its price increased at an average annual rate of +3.5% over the last nine-year period. 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.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Zimbabwe ($X per ton), while the average price for exports to Brazil ($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 UK (+12.3%), while the prices for the other major destinations experienced more modest paces of growth.

Stranded Wire Imports

Imports into South Africa

In 2021, stranded wire imports into South Africa soared to X tons, rising by 31% compared with 2020. Overall, imports, however, saw a perceptible contraction. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, stranded wire imports surged to $X in 2021. In general, imports, however, saw a pronounced curtailment. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of stranded wire to South Africa, with a 67% share of total imports. Moreover, stranded wire imports from China exceeded the figures recorded by the second-largest supplier, Italy (X tons), eightfold. The third position in this ranking was taken by Malaysia (X tons), with a 3.2% share.

From 2012 to 2021, the average annual growth rate of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+1.9% per year) and Malaysia (-9.8% per year).

In value terms, China ($X) constituted the largest supplier of stranded wire, ropes and cables to South Africa, comprising 53% of total imports. The second position in the ranking was held by Italy ($X), with a 9.2% share of total imports. It was followed by the UK, with a 5.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at -1.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-1.0% per year) and the UK (+1.9% per year).

Import Prices by Country

In 2021, the average stranded wire import price amounted to $X per ton, rising by 4.4% against the previous year. Over the period under review, the import price, however, continues to indicate a mild descent. The growth pace was the most rapid in 2018 an increase of 13%. Over the period under review, average import prices reached the maximum at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+7.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :