Spain: Market for Ribbed Or Other Deformed Wire Rod Of Non-Alloy Steel 2024

Market Size for Ribbed Or Other Deformed Wire Rod Of Non-Alloy Steel in Spain

In 2021, the Spanish market for ribbed or other deformed wire rod of non-alloy steel increased by 5.1% to $X, rising for the fifth year in a row after four years of decline. Over the period under review, consumption continues to indicate a pronounced reduction. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Production of Ribbed Or Other Deformed Wire Rod Of Non-Alloy Steel in Spain

In value terms, deformed non-alloy steel wire rod production surged to $X in 2021 estimated in export price. In general, the total production indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +2.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +124.0% against 2016 indices. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Exports of Ribbed Or Other Deformed Wire Rod Of Non-Alloy Steel

Exports from Spain

In 2021, the amount of ribbed or other deformed wire rod of non-alloy steel exported from Spain expanded rapidly to X tons, with an increase of 6% on the year before. Over the period under review, exports recorded a significant expansion. The growth pace was the most rapid in 2015 with an increase of 640%. Over the period under review, the exports attained the peak figure at X tons in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, deformed non-alloy steel wire rod exports surged to $X in 2021. Overall, exports posted a significant expansion. The pace of growth was the most pronounced in 2015 with an increase of 425%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Israel (X tons) was the main destination for deformed non-alloy steel wire rod exports from Spain, with a 48% share of total exports. Moreover, deformed non-alloy steel wire rod exports to Israel exceeded the volume sent to the second major destination, France (X tons), twofold. The third position in this ranking was taken by Portugal (X tons), with an 8.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Israel amounted to +78.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+48.8% per year) and Portugal (+2.0% per year).

In value terms, Israel ($X) remains the key foreign market for ribbed or other deformed wire rod of non-alloy steel exports from Spain, comprising 45% of total exports. The second position in the ranking was held by France ($X), with a 21% share of total exports. It was followed by Portugal, with a 9.1% share.

From 2012 to 2021, the average annual growth rate of value to Israel stood at +82.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+53.0% per year) and Portugal (+4.4% per year).

Export Prices by Country

The average export price for ribbed or other deformed wire rod of non-alloy steel stood at $X per ton in 2021, increasing by 58% against the previous year. In general, export price indicated a mild expansion from 2012 to 2021: its price increased at an average annual rate of +1.3% 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.

Average prices varied somewhat for the major foreign markets. In 2021, amid the top suppliers, the highest price was recorded for prices to Barbados ($X per ton) and Portugal ($X per ton), while the average price for exports to Australia ($X per ton) and Singapore ($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 Hong Kong SAR (+13.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Ribbed Or Other Deformed Wire Rod Of Non-Alloy Steel

Imports into Spain

In 2021, purchases abroad of ribbed or other deformed wire rod of non-alloy steel decreased by -47.4% to X tons, falling for the second consecutive year after four years of growth. Over the period under review, imports, however, posted a slight increase. The growth pace was the most rapid in 2016 when imports increased by 45%. Over the period under review, imports reached the peak figure at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, deformed non-alloy steel wire rod imports reduced to $X in 2021. In general, imports, however, enjoyed a measured expansion. The most prominent rate of growth was recorded in 2017 with an increase of 80% against the previous year. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Portugal (X tons) was the main supplier of deformed non-alloy steel wire rod to Spain, accounting for a approx. 100% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from Portugal amounted to +1.8%.

In value terms, Portugal ($X) constituted the largest supplier of ribbed or other deformed wire rod of non-alloy steel to Spain.

From 2012 to 2021, the average annual rate of growth in terms of value from Portugal amounted to +3.7%.

Import Prices by Country

In 2021, the average import price for ribbed or other deformed wire rod of non-alloy steel amounted to $X per ton, jumping by 76% against the previous year. Overall, import price indicated a mild increase from 2012 to 2021: its price increased at an average annual rate of +1.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

As there is only one major supplying country, the average price level is determined by prices for Portugal.

From 2012 to 2021, the rate of growth in terms of prices for Portugal amounted to +1.9% per year.

Source: IndexBox Platform

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