Global Steel Stranded Wire Market 2025

Steel Stranded Wire Market Size

The global steel stranded wire market expanded modestly to $X in 2022, increasing by 1.8% against the previous year. The market value increased at an average annual rate of +1.0% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. Global consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Steel Stranded Wire Production

In value terms, steel stranded wire production dropped slightly to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 16% against the previous year. Global production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Steel Stranded Wire Exports

Exports

In 2022, approx. X tons of iron or steel stranded wire, ropes and cables were exported worldwide; growing by 4.6% compared with 2021. The total export volume increased at an average annual rate of +2.8% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when exports increased by 16%. Over the period under review, the global exports reached the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, steel stranded wire exports expanded markedly to $X in 2022. The total export value increased at an average annual rate of +3.0% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when exports increased by 34%. Over the period under review, the global exports reached the maximum in 2022 and are expected to retain growth in the near future.

Exports by Country

In 2022, China (X tons) represented the major exporter of iron or steel stranded wire, ropes and cables, comprising 42% of total exports. Vietnam (X tons) held a 6.2% share (based on physical terms) of total exports, which put it in second place, followed by Thailand (5.1%) and South Korea (4.9%). Turkey (X tons), Italy (X tons), India (X tons), Portugal (X tons), Romania (X tons), Malaysia (X tons), Germany (X tons), Hungary (X tons) and Indonesia (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to steel stranded wire exports from China stood at +6.8%. At the same time, Vietnam (+18.4%), Indonesia (+13.2%), Thailand (+7.3%), Turkey (+7.3%), India (+4.3%), Romania (+4.2%), Hungary (+2.4%) and Portugal (+1.5%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in the world, with a CAGR of +18.4% from 2012-2022. By contrast, Germany (-1.5%), Italy (-1.8%), Malaysia (-2.0%) and South Korea (-4.6%) illustrated a downward trend over the same period. China (+13 p.p.), Vietnam (+4.7 p.p.) and Thailand (+1.8 p.p.) significantly strengthened its position in terms of the global exports, while Malaysia, Italy and South Korea saw its share reduced by -1.5%, -1.6% and -5.4% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest steel stranded wire supplier worldwide, comprising 32% of global exports. The second position in the ranking was held by South Korea ($X), with a 6.2% share of global exports. It was followed by Germany, with a 5.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China stood at +7.6%. In the other countries, the average annual rates were as follows: South Korea (-2.4% per year) and Germany (-0.1% per year).

Export Prices by Country

In 2022, the average steel stranded wire export price amounted to $X per ton, rising by 6.5% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the average export price increased by 15% against the previous year. The global export price peaked in 2022 and is likely to continue growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Germany ($X per ton), while Malaysia ($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 (+4.2%), while the other global leaders experienced more modest paces of growth.

Steel Stranded Wire Imports

Imports

Global steel stranded wire imports stood at X tons in 2022, surging by 4.9% on 2021. The total import volume increased at an average annual rate of +2.4% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 15% against the previous year. Global imports peaked in 2022 and are likely to continue growth in years to come.

In value terms, steel stranded wire imports soared to $X in 2022. The total import value increased at an average annual rate of +2.6% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 31% against the previous year. Global imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, the United States (X tons), distantly followed by South Korea (X tons) were the major importers of iron or steel stranded wire, ropes and cables, together committing 21% of total imports. The following importers - Germany (X tons), Vietnam (X tons), Thailand (X tons), Japan (X tons), India (X tons), Poland (X tons), Canada (X tons), Australia (X tons), Spain (X tons), France (X tons) and Brazil (X tons) - together made up 33% of total imports.

Imports into the United States increased at an average annual rate of +3.8% from 2012 to 2022. At the same time, India (+15.8%), Vietnam (+9.5%), Thailand (+8.9%), Poland (+5.3%), Australia (+4.3%), South Korea (+4.1%), Japan (+2.6%), Brazil (+2.2%) and Canada (+1.1%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing importer imported in the world, with a CAGR of +15.8% from 2012-2022. France and Germany experienced a relatively flat trend pattern. By contrast, Spain (-4.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of India, the United States, Vietnam and Thailand increased by +2.2, +2, +2 and +1.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported iron or steel stranded wire, ropes and cables worldwide, comprising 17% of global imports. The second position in the ranking was held by Germany ($X), with a 5.4% share of global imports. It was followed by South Korea, with a 3.5% share.

From 2012 to 2022, the average annual growth rate of value in the United States totaled +4.4%. The remaining importing countries recorded the following average annual rates of imports growth: Germany (+1.0% per year) and South Korea (+2.4% per year).

Import Prices by Country

The average steel stranded wire import price stood at $X per ton in 2022, increasing by 10% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 14% against the previous year. Global import price peaked in 2022 and is likely to continue growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Spain ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+1.8%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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