Report Update Nov 1, 2024

Venezuela - Iron or Steel Wool - Market Analysis, Forecast, Size, Trends and Insights

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Venezuela: Metal Wool Market 2024

Metal Wool Market Size in Venezuela

The Venezuelan metal wool market shrank modestly to $X in 2022, which is down by -1.6% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, continues to indicate a deep contraction. Metal wool consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Metal Wool Exports

Exports from Venezuela

In 2022, after three years of growth, there was decline in overseas shipments of iron or steel wool, when their volume decreased by -4.1% to X kg. Over the period under review, exports, however, recorded a measured increase. The pace of growth appeared the most rapid in 2015 when exports increased by 223% against the previous year. Over the period under review, the exports hit record highs at X kg in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, metal wool exports dropped slightly to $X in 2022. Overall, exports, however, saw a strong increase. The pace of growth was the most pronounced in 2013 with an increase of 246% against the previous year. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Panama (X kg) was the main destination for metal wool exports from Venezuela, with a approx. 96% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Panama totaled +11.4%.

In value terms, Panama ($X) also remains the key foreign market for iron or steel wool exports from Venezuela.

From 2012 to 2022, the average annual rate of growth in terms of value to Panama totaled +16.9%.

Export Prices by Country

In 2022, the average metal wool export price amounted to $X per ton, rising by 1.9% against the previous year. Overall, the export price posted a buoyant expansion. The most prominent rate of growth was recorded in 2017 an increase of 115% against the previous year. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Panama.

From 2012 to 2022, the rate of growth in terms of prices for Nigeria amounted to +36.0% per year.

Metal Wool Imports

Imports into Venezuela

After two years of decline, overseas purchases of iron or steel wool increased by 2.4% to X tons in 2022. Overall, imports, however, recorded a abrupt decline. The pace of growth was the most pronounced in 2019 with an increase of 226% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, metal wool imports fell modestly to $X in 2022. In general, imports, however, showed a deep reduction. The pace of growth was the most pronounced in 2019 with an increase of 90%. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of metal wool to Venezuela, with a 76% share of total imports. Moreover, metal wool imports from China exceeded the figures recorded by the second-largest supplier, Spain (X tons), ninefold. The third position in this ranking was taken by South Korea (X tons), with a 5.3% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at -7.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+0.7% per year) and South Korea (+2.5% per year).

In value terms, China ($X) constituted the largest supplier of iron or steel wool to Venezuela, comprising 82% of total imports. The second position in the ranking was taken by South Korea ($X), with a 7.5% share of total imports. It was followed by Panama, with a 6.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at -4.4%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+1.2% per year) and Panama (+8.2% per year).

Import Prices by Country

In 2022, the average metal wool import price amounted to $X per ton, waning by -6.5% against the previous year. Over the period under review, import price indicated noticeable growth from 2012 to 2022: its price increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, metal wool import price increased by +8.1% against 2020 indices. The pace of growth appeared the most rapid in 2018 when the average import price increased by 77%. As a result, import price attained the peak level of $X per ton. From 2019 to 2022, the average 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 Panama ($X per ton), while the price for Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Panama (+28.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for iron or steel wool in the world?

The country with the largest volume of metal wool consumption was Russia, comprising approx. 80% of total volume. Moreover, metal wool consumption in Russia exceeded the figures recorded by the second-largest consumer, China, more than tenfold.

What are the largest producers of iron or steel wool in the world?

Russia remains the largest metal wool producing country worldwide, comprising approx. 79% of total volume. Moreover, metal wool production in Russia exceeded the figures recorded by the second-largest producer, China, eightfold.

What are the leading suppliers of iron or steel wool to Venezuela?

In value terms, China constituted the largest supplier of metal wool to Venezuela, comprising 61% of total imports. The second position in the ranking was occupied by South Korea, with a 19% share of total imports. It was followed by Panama, with a 5.1% share.

What are the leading importers of iron or steel wool from Venezuela?

In value terms, Panama $36) remains the key foreign market for metal wool exports from Venezuela.

What is the average export price for iron or steel wool in Venezuela?

The average metal wool export price stood at $9,000 per ton in 2021, rising by 9.1% against the previous year.

What is the average import price for iron or steel wool in Venezuela?

In 2021, the average metal wool import price amounted to $3,656 per ton, with an increase of 2.8% against the previous year.

This report provides an in-depth analysis of the metal wool market in Venezuela. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 25991280 - Iron or steel wool, pot scourers and scouring or polishing pads, and gloves and the like

Country coverage:

Venezuela

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Venezuela
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023