United Kingdom: Market for Iron or Steel Wire Products 2025

Market Size for Iron or Steel Wire Products in the UK

The UK market for iron or steel wire products totaled $X in 2022, picking up by X% against the previous year. Overall, consumption, however, continues to indicate a relatively flat trend pattern. Iron or steel wire product consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Production of Iron or Steel Wire Products in the UK

In value terms, iron or steel wire product production reduced modestly to $X in 2022 estimated in export price. Overall, production showed a noticeable slump. The pace of growth appeared the most rapid in 2014 with an increase of X%. As a result, production reached the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Exports of Iron or Steel Wire Products

Exports from the UK

In 2022, the amount of iron or steel wire products exported from the UK dropped notably to X tons, falling by X% on the year before. In general, exports recorded a deep contraction. The pace of growth was the most pronounced in 2015 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons. From 2016 to 2022, the growth of the exports failed to regain momentum.

In value terms, iron or steel wire product exports shrank remarkably to $X in 2022. Over the period under review, exports showed a pronounced descent. The most prominent rate of growth was recorded in 2013 when exports increased by X%. Over the period under review, the exports reached the peak figure at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

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

From 2012 to 2022, the average annual growth rate of volume to Ireland amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Turkey (X% per year).

In value terms, the largest markets for iron or steel wire product exported from the UK were Ireland ($X), the United States ($X) and France ($X), with a combined X% share of total exports. Turkey, Qatar, Germany, the Netherlands, Togo, Australia, Poland, the United Arab Emirates, Bulgaria and Canada lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, Togo, with a CAGR of X%, recorded the highest growth rate of 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 period from 2012 to 2022, it increased at an average annual rate of X%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Qatar ($X per ton), while the average price for exports to Canada ($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 Germany (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 UK

In 2022, iron or steel wire product imports into the UK expanded notably to X tons, rising by X% on 2021. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, iron or steel wire product imports expanded notably to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when imports increased by X%. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2022, China (X tons) constituted the largest iron or steel wire product supplier to the UK, accounting for a X% share of total imports. Moreover, iron or steel wire product imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X tons), threefold. The Czech Republic (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (X% per year) and the Czech Republic (X% per year).

In value terms, China ($X) constituted the largest supplier of iron or steel wire products to the UK, comprising X% of total imports. The second position in the ranking was held by the Czech Republic ($X), with a X% share of total imports. It was followed by Turkey, with a X% share.

From 2012 to 2022, the average annual growth rate of value from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (X% per year) and Turkey (X% per year).

Import Prices by Country

In 2022, the average import price for iron or steel wire products amounted to $X per ton, picking up by X% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the average import price increased by X%. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

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

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

Source: IndexBox Platform

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