Spain: Steel Stranded Wire Market 2025

Steel Stranded Wire Market Size in Spain

In 2022, the Spanish steel stranded wire market increased by 25% to $X, rising for the second year in a row after two years of decline. Overall, the total consumption indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +74.9% against 2020 indices. Steel stranded wire consumption peaked in 2022 and is likely to see steady growth in the near future.

Steel Stranded Wire Production in Spain

In value terms, steel stranded wire production soared to $X in 2022 estimated in export price. In general, the total production indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +98.0% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 51% against the previous year. Over the period under review, production hit record highs in 2022 and is expected to retain growth in the near future.

Steel Stranded Wire Exports

Exports from Spain

In 2022, approx. X tons of iron or steel stranded wire, ropes and cables were exported from Spain; reducing by -7.4% compared with the previous year's figure. In general, exports faced a abrupt shrinkage. The pace of growth was the most pronounced in 2018 when exports increased by 9.7%. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, steel stranded wire exports rose significantly to $X in 2022. Overall, exports continue to indicate a deep slump. The most prominent rate of growth was recorded in 2021 with an increase of 18%. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Portugal (X tons), Morocco (X tons) and Italy (X tons) were the main destinations of steel stranded wire exports from Spain, together comprising 63% of total exports.

From 2012 to 2022, the biggest increases were recorded for Morocco (with a CAGR of +13.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Portugal ($X) remains the key foreign market for iron or steel stranded wire, ropes and cables exports from Spain, comprising 29% of total exports. The second position in the ranking was taken by Italy ($X), with a 14% share of total exports. It was followed by Morocco, with a 13% share.

From 2012 to 2022, the average annual growth rate of value to Portugal stood at +1.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+11.1% per year) and Morocco (+15.2% per year).

Export Prices by Country

The average steel stranded wire export price stood at $X per ton in 2022, rising by 15% against the previous year. Over the period under review, export price indicated a prominent increase from 2012 to 2022: its price increased at an average annual rate of +6.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, steel stranded wire export price increased by +31.7% against 2020 indices. The most prominent rate of growth was recorded in 2014 an increase of 31%. Over the period under review, the average export prices hit record highs in 2022 and is likely to see steady growth in years to come.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Morocco ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+36.5%), while the prices for the other major destinations experienced more modest paces of growth.

Steel Stranded Wire Imports

Imports into Spain

In 2022, steel stranded wire imports into Spain shrank slightly to X tons, approximately reflecting the previous year's figure. In general, imports continue to indicate a perceptible shrinkage. The most prominent rate of growth was recorded in 2016 when imports increased by 22%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, steel stranded wire imports surged to $X in 2022. Overall, imports continue to indicate a noticeable contraction. The most prominent rate of growth was recorded in 2018 with an increase of 28% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Romania (X tons), Portugal (X tons) and Italy (X tons) were the main suppliers of steel stranded wire imports to Spain, with a combined 33% share of total imports. South Korea, Luxembourg, France, China, Belgium, Turkey, Thailand, Slovakia, Germany and Malaysia lagged somewhat behind, together accounting for a further 55%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Belgium (with a CAGR of +41.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Romania ($X), Italy ($X) and South Korea ($X) were the largest steel stranded wire suppliers to Spain, together comprising 33% of total imports. France, Germany, Luxembourg, Portugal, China, Belgium, Slovakia, Turkey, Thailand and Malaysia lagged somewhat behind, together accounting for a further 54%.

Belgium, with a CAGR of +40.0%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average steel stranded wire import price amounted to $X per ton, surging by 19% against the previous year. Over the period under review, the import price saw slight growth. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Romania (+4.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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