Switzerland: Market for Hot-Rolled Wire Rod In Coil Of Stainless Steel 2024

Market Size for Hot-Rolled Wire Rod In Coil Of Stainless Steel in Switzerland

For the eleventh consecutive year, the Swiss market for hot-rolled wire rod in coil of stainless steel recorded growth in sales value, which increased by 33% to $X in 2022. Over the period under review, consumption posted a significant increase. Hot-rolled wire stainless steel rod consumption peaked in 2022 and is likely to see gradual growth in the immediate term.

Production of Hot-Rolled Wire Rod In Coil Of Stainless Steel in Switzerland

In value terms, hot-rolled wire stainless steel rod production dropped slightly to $X in 2022 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the production volume increased by 6.5%. Hot-rolled wire stainless steel rod production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Hot-Rolled Wire Rod In Coil Of Stainless Steel

Exports from Switzerland

In 2022, shipments abroad of hot-rolled wire rod in coil of stainless steel increased by 22% to X tons, rising for the second consecutive year after two years of decline. Overall, exports recorded prominent growth. The pace of growth was the most pronounced in 2021 when exports increased by 165%. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in years to come.

In value terms, hot-rolled wire stainless steel rod exports soared to $X in 2022. In general, exports saw a strong increase. The most prominent rate of growth was recorded in 2021 when exports increased by 106% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in the near future.

Exports by Country

Germany (X tons) was the main destination for hot-rolled wire stainless steel rod exports from Switzerland, with a 61% share of total exports. Moreover, hot-rolled wire stainless steel rod exports to Germany exceeded the volume sent to the second major destination, Italy (X tons), threefold. The United States (X tons) ranked third in terms of total exports with a 6.7% share.

From 2012 to 2022, the average annual growth rate of volume to Germany totaled +19.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+2.4% per year) and the United States (+401.7% per year).

In value terms, the largest markets for hot-rolled wire stainless steel rod exported from Switzerland were Germany ($X), Italy ($X) and the United States ($X), with a combined 87% share of total exports.

The United States, with a CAGR of +447.4%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for hot-rolled wire rod in coil of stainless steel stood at $X per ton in 2022, declining by -6% against the previous year. In general, the export price saw a pronounced setback. The growth pace was the most rapid in 2020 when the average export price increased by 21%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Brazil ($X per ton), while the average price for exports to Germany ($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 United States (+9.1%), while the prices for the other major destinations experienced a decline.

Imports of Hot-Rolled Wire Rod In Coil Of Stainless Steel

Imports into Switzerland

In 2022, approx. X tons of hot-rolled wire rod in coil of stainless steel were imported into Switzerland; growing by 6% on the previous year's figure. Over the period under review, total imports indicated significant growth from 2020 to 2022: its volume increased at an average annual rate of +26.2% over the last two-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +59.2% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 50%. Imports peaked in 2022 and are likely to see steady growth in years to come.

In value terms, hot-rolled wire stainless steel rod imports soared to $X in 2022. Overall, imports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 85% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

In 2022, Italy (X tons) constituted the largest hot-rolled wire stainless steel rod supplier to Switzerland, with a 74% share of total imports. Moreover, hot-rolled wire stainless steel rod imports from Italy exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), sixfold. India (X tons) ranked third in terms of total imports with a 6.2% share.

From 2020 to 2022, the average annual rate of growth in terms of volume from Italy amounted to +61.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+382.1% per year) and India (+129.8% per year).

In value terms, Italy ($X) constituted the largest supplier of hot-rolled wire rod in coil of stainless steel to Switzerland, comprising 77% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 13% share of total imports. It was followed by Sweden, with a 3.3% share.

From 2020 to 2022, the average annual rate of growth in terms of value from Italy stood at +107.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+598.1% per year) and Sweden (+70.4% per year).

Import Prices by Country

In 2022, the average import price for hot-rolled wire rod in coil of stainless steel amounted to $X per ton, surging by 27% against the previous year. Overall, import price indicated a significant expansion from 2020 to 2022: its price increased at an average annual rate of +25.3% over the last two-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, hot-rolled wire stainless steel rod import price increased by +57.0% against 2020 indices. 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 Sweden ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2020 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+44.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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