United Kingdom: Aluminium Alloy Wire Market 2024

Aluminium Alloy Wire Market Size in the UK

The UK aluminium alloy wire market declined modestly to $X in 2022, reducing by -2.8% against the previous year. Over the period under review, consumption saw a perceptible shrinkage. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Aluminium Alloy Wire Production in the UK

In value terms, aluminium alloy wire production contracted modestly to $X in 2022 estimated in export price. In general, production continues to indicate a mild slump. The most prominent rate of growth was recorded in 2014 with an increase of 34%. As a result, production reached the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Aluminium Alloy Wire Exports

Exports from the UK

In 2022, shipments abroad of aluminium alloy wire decreased by -1% to X tons, falling for the third consecutive year after two years of growth. Over the period under review, exports saw a noticeable downturn. The pace of growth was the most pronounced in 2013 when exports increased by 17% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, aluminium alloy wire exports expanded remarkably to $X in 2022. Overall, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when exports increased by 22%. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

China (X tons), Japan (X tons) and Austria (X tons) were the main destinations of aluminium alloy wire exports from the UK, together accounting for 31% of total exports. Turkey, South Korea, Thailand, France, the Netherlands, Norway, Greece, India, Germany and Italy lagged somewhat behind, together accounting for a further 54%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Netherlands (with a CAGR of +24.3%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X), Austria ($X) and Japan ($X) constituted the largest markets for aluminium alloy wire exported from the UK worldwide, together comprising 31% of total exports. Turkey, Thailand, South Korea, France, the Netherlands, Norway, Greece, Germany, India and Italy lagged somewhat behind, together comprising a further 51%.

In terms of the main countries of destination, the Netherlands, with a CAGR of +29.6%, 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

In 2022, the average aluminium alloy wire export price amounted to $X per ton, picking up by 12% against the previous year. Over the last decade, it increased at an average annual rate of +3.4%. The pace of growth was the most pronounced in 2021 when the average export price increased by 31%. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in years to come.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Greece ($X per ton) and Germany ($X per ton), while the average price for exports to South Korea ($X per ton) and Italy ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Greece (+5.9%), while the prices for the other major destinations experienced more modest paces of growth.

Aluminium Alloy Wire Imports

Imports into the UK

In 2022, purchases abroad of aluminium alloy wire was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports, however, continue to indicate a abrupt setback. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, aluminium alloy wire imports soared to $X in 2022. In general, imports, however, showed a abrupt contraction. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Germany (X tons), the Netherlands (X tons) and China (X tons) were the main suppliers of aluminium alloy wire imports to the UK, together comprising 62% of total imports. The Czech Republic, the United States, Italy, Canada, France, Spain, India, Finland, Bahrain and Switzerland lagged somewhat behind, together accounting for a further 34%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Czech Republic (with a CAGR of +238.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest aluminium alloy wire suppliers to the UK were Germany ($X), the Netherlands ($X) and China ($X), with a combined 63% share of total imports. The United States, the Czech Republic, Italy, France, Canada, Finland, Spain, Switzerland, India and Bahrain lagged somewhat behind, together comprising a further 35%.

The Czech Republic, with a CAGR of +147.9%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average aluminium alloy wire import price amounted to $X per ton, picking up by 20% against the previous year. In general, import price indicated a buoyant expansion from 2012 to 2022: its price increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, aluminium alloy wire import price increased by +25.9% against 2019 indices. The growth pace was the most rapid in 2014 an increase of 37% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+7.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform