U.S.: Winding Wire Market 2024

Winding Wire Market Size in the U.S.

The U.S. winding wire market shrank to $X in 2022, approximately equating the previous year. Over the period under review, consumption saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the market value increased by 6.2% against the previous year. Winding wire consumption peaked at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Winding Wire Production in the U.S.

In value terms, winding wire production shrank modestly to $X in 2022. In general, production showed a slight descent. The most prominent rate of growth was recorded in 2021 when the production volume increased by 4.8% against the previous year. Winding wire production peaked at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Winding Wire Exports

Exports from the U.S.

In 2022, approx. X tons of winding wire for electrical purposes were exported from the United States; stabilizing at 2021. Overall, exports saw a perceptible contraction. The pace of growth appeared the most rapid in 2017 when exports increased by 24%. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, winding wire exports dropped modestly to $X in 2022. Over the period under review, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 21% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Mexico (X tons) was the main destination for winding wire exports from the United States, accounting for a 55% share of total exports. Moreover, winding wire exports to Mexico exceeded the volume sent to the second major destination, Canada (X tons), fourfold. The third position in this ranking was taken by China (X tons), with a 5.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Mexico was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (-4.4% per year) and China (-7.5% per year).

In value terms, Mexico ($X) remains the key foreign market for winding wire for electrical purposes exports from the United States, comprising 53% of total exports. The second position in the ranking was held by Canada ($X), with a 16% share of total exports. It was followed by China, with a 6.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Mexico was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (-3.0% per year) and China (+0.8% per year).

Export Prices by Country

In 2022, the average winding wire export price amounted to $X per ton, approximately reflecting the previous year. Over the last decade, it increased at an average annual rate of +1.4%. The pace of growth was the most pronounced in 2021 an increase of 8.8% against the previous year. As a result, the export price attained the peak level of $X per ton, leveling off in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Costa Rica ($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 (+9.0%), while the prices for the other major destinations experienced more modest paces of growth.

Winding Wire Imports

Imports into the U.S.

In 2022, overseas purchases of winding wire for electrical purposes increased by 4.5% to X tons, rising for the second year in a row after two years of decline. The total import volume increased at an average annual rate of +1.5% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when imports increased by 19% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, winding wire imports expanded notably to $X in 2022. In general, total imports indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +67.9% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 53% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, Mexico (X tons) constituted the largest winding wire supplier to the United States, accounting for a 67% share of total imports. Moreover, winding wire imports from Mexico exceeded the figures recorded by the second-largest supplier, Canada (X tons), sixfold. China (X tons) ranked third in terms of total imports with a 5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Mexico totaled +1.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (+6.3% per year) and China (-0.7% per year).

In value terms, Mexico ($X) constituted the largest supplier of winding wire for electrical purposes to the United States, comprising 61% of total imports. The second position in the ranking was held by Canada ($X), with a 9.4% share of total imports. It was followed by Germany, with a 6.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Mexico totaled +3.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (+5.9% per year) and Germany (+1.9% per year).

Import Prices by Country

The average winding wire import price stood at $X per ton in 2022, growing by 4.7% against the previous year. Over the last decade, it increased at an average annual rate of +2.0%. The pace of growth appeared the most rapid in 2021 when the average import price increased by 29%. Over the period under review, average import prices hit record highs in 2022 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 ($X per ton), while the price for Canada ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+4.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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