Turkey: Steel Stranded Wire Market 2025

Steel Stranded Wire Market Size in Turkey

In 2022, the Turkish steel stranded wire market decreased by -7.6% to $X, falling for the fourth year in a row after two years of growth. Over the period under review, consumption continues to indicate a slight curtailment. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Steel Stranded Wire Production in Turkey

In value terms, steel stranded wire production contracted to $X in 2022 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the production volume increased by 38%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Steel Stranded Wire Exports

Exports from Turkey

In 2022, approx. X tons of iron or steel stranded wire, ropes and cables were exported from Turkey; with an increase of 4.2% against 2021. Over the period under review, exports showed a strong increase. The most prominent rate of growth was recorded in 2021 with an increase of 47% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in years to come.

In value terms, steel stranded wire exports skyrocketed to $X in 2022. In general, exports recorded a strong expansion. The pace of growth appeared the most rapid in 2021 when exports increased by 61% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the immediate term.

Exports by Country

The United States (X tons), Brazil (X tons) and the UK (X tons) were the main destinations of steel stranded wire exports from Turkey, together accounting for 21% of total exports. Romania, Egypt, the Netherlands, Poland, Ireland, Azerbaijan, Belgium, Slovakia, Spain and Israel lagged somewhat behind, together accounting for a further 44%.

From 2012 to 2022, the biggest increases were recorded for Ireland (with a CAGR of +194.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Egypt ($X) and the Netherlands ($X) constituted the largest markets for steel stranded wire exported from Turkey worldwide, with a combined 24% share of total exports. Slovakia, Romania, Belgium, Brazil, the UK, Poland, Spain, Azerbaijan, Ireland and Israel lagged somewhat behind, together comprising a further 40%.

Ireland, with a CAGR of +189.4%, recorded the highest growth rate of the value of exports, in terms of 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 steel stranded wire export price stood at $X per ton in 2022, rising by 15% against the previous year. Overall, the export price, however, showed a slight downturn. The most prominent rate of growth was recorded in 2018 when the average export price increased by 16% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Brazil ($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 (+6.3%), while the prices for the other major destinations experienced more modest paces of growth.

Steel Stranded Wire Imports

Imports into Turkey

After four years of decline, purchases abroad of iron or steel stranded wire, ropes and cables increased by 33% to X tons in 2022. In general, imports showed tangible growth. The pace of growth was the most pronounced in 2017 when imports increased by 52%. Imports peaked at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, steel stranded wire imports surged to $X in 2022. Over the period under review, total imports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +6.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports reached the peak figure at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of steel stranded wire to Turkey, accounting for a 40% share of total imports. Moreover, steel stranded wire imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X tons), twofold. The third position in this ranking was held by Italy (X tons), with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +10.4%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+6.3% per year) and Italy (+2.9% per year).

In value terms, the largest steel stranded wire suppliers to Turkey were China ($X), South Korea ($X) and Italy ($X), with a combined 69% share of total imports. Germany, Spain, Malaysia, Vietnam, Portugal and Thailand lagged somewhat behind, together accounting for a further 20%.

Vietnam, with a CAGR of +33.1%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average steel stranded wire import price stood at $X per ton in 2022, rising by 7% against the previous year. In general, import price indicated a perceptible increase from 2012 to 2022: its price increased at an average annual rate of +3.3% 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 import price increased by +66.3% against 2017 indices. The most prominent rate of growth was recorded in 2021 when the average import price increased by 21% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.

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 ($X per ton), while the price for Portugal ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+6.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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