U.S.: Market for Iron or Steel Wire Products 2024

Market Size for Iron or Steel Wire Products in the U.S.

The U.S. market for iron or steel wire products reduced modestly to $X in 2022, leveling off at the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Production of Iron or Steel Wire Products in the U.S.

In value terms, iron or steel wire product production declined modestly to $X in 2022. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the production volume increased by X% against the previous year. Iron or steel wire product production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Exports of Iron or Steel Wire Products

Exports from the U.S.

In 2022, the amount of iron or steel wire products exported from the United States rose rapidly to X tons, surging by X% on 2021. Over the period under review, exports, however, showed a perceptible shrinkage. The most prominent rate of growth was recorded in 2021 when exports increased by X%. Over the period under review, the exports reached the peak figure at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, iron or steel wire product exports expanded rapidly to $X in 2022. Overall, exports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when exports increased by X%. Over the period under review, the exports attained the maximum at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

Canada (X tons) was the main destination for iron or steel wire product exports from the United States, accounting for a X% share of total exports. Moreover, iron or steel wire product exports to Canada exceeded the volume sent to the second major destination, Mexico (X tons), threefold. The third position in this ranking was taken by Germany (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Canada stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (X% per year) and Germany (X% per year).

In value terms, the largest markets for iron or steel wire product exported from the United States were Canada ($X), Mexico ($X) and Germany ($X), together comprising X% of total exports. China, Japan, Thailand and Indonesia lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, Indonesia, with a CAGR of X%, saw the highest rates of growth with regard to 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 export price for iron or steel wire products stood at $X per ton in 2022, picking up by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2020 an increase of X%. The export price peaked in 2022 and is expected to retain growth in the near future.

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

Imports of Iron or Steel Wire Products

Imports into the U.S.

In 2022, overseas purchases of iron or steel wire products increased by X% to X tons, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 when imports increased by X%. As a result, imports reached the peak of X tons. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, iron or steel wire product imports surged to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, China (X tons) constituted the largest iron or steel wire product supplier to the United States, with a X% share of total imports. Moreover, iron or steel wire product imports from China exceeded the figures recorded by the second-largest supplier, Mexico (X tons), fourfold. The third position in this ranking was taken by Canada (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (X% per year) and Canada (X% per year).

In value terms, the largest iron or steel wire product suppliers to the United States were China ($X), Mexico ($X) and Canada ($X), together comprising X% of total imports. Cambodia, Taiwan (Chinese), South Korea, India, Myanmar and Japan lagged somewhat behind, together comprising a further X%.

Myanmar, with a CAGR of X%, recorded the highest rates of growth with regard to 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 import price for iron or steel wire products stood at $X per ton in 2022, rising by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 when the average import price increased by X%. The import price peaked in 2022 and is expected to retain 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 Canada ($X per ton), while the price for Japan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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