EU: Market for Wire Rod Of Free-Cutting Steel 2024

Market Size for Wire Rod Of Free-Cutting Steel in the EU

In 2023, after two years of growth, there was significant decline in the EU free-cutting steel wire rod market, when its value decreased by X% to $X. The total consumption indicated mild growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption increased by X% against 2020 indices. As a result, consumption attained the peak level of $X, and then contracted notably in the following year.

Production of Wire Rod Of Free-Cutting Steel in the EU

In value terms, free-cutting steel wire rod production totaled $X in 2023 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2022 to 2023, production growth remained at a somewhat lower figure.

Exports of Wire Rod Of Free-Cutting Steel

Exports in the EU

Free-cutting steel wire rod exports declined significantly to X tons in 2023, with a decrease of X% compared with the previous year. In general, exports recorded a pronounced reduction. The pace of growth appeared the most rapid in 2021 with an increase of X%. The volume of export peaked at X tons in 2018; however, from 2019 to 2023, the exports stood at a somewhat lower figure.

In value terms, free-cutting steel wire rod exports dropped rapidly to $X in 2023. Overall, exports continue to indicate a mild curtailment. The most prominent rate of growth was recorded in 2021 with an increase of X%. The level of export peaked at $X in 2018; however, from 2019 to 2023, the exports remained at a lower figure.

Exports by Country

In 2023, France (X tons), Spain (X tons) and Germany (X tons) represented the key exporter of wire rod of free-cutting steel in the European Union, committing X% of total export. The following exporters - the Netherlands (X tons), Italy (X tons), Belgium (X tons) and the Czech Republic (X tons) - together made up X% of total exports.

From 2012 to 2023, the biggest increases were recorded for the Netherlands (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest free-cutting steel wire rod supplying countries in the European Union were Germany ($X), France ($X) and Spain ($X), together accounting for X% of total exports. The Netherlands, Italy, the Czech Republic and Belgium lagged somewhat behind, together comprising a further X%.

The Netherlands, with a CAGR of X%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the export price in the European Union amounted to $X per ton, waning by X% against the previous year. Export price indicated a slight increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, free-cutting steel wire rod export price increased by X% against 2020 indices. The growth pace was the most rapid in 2021 an increase of X% against the previous year. The level of export peaked at $X per ton in 2022, and then declined in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while Italy ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the Netherlands (X%), while the other leaders experienced more modest paces of growth.

Imports of Wire Rod Of Free-Cutting Steel

Imports in the EU

Free-cutting steel wire rod imports shrank sharply to X tons in 2023, which is down by X% compared with the previous year's figure. Overall, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2023, imports remained at a lower figure.

In value terms, free-cutting steel wire rod imports fell markedly to $X in 2023. Over the period under review, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2023, imports remained at a lower figure.

Imports by Country

Italy (X tons) and Germany (X tons) prevails in imports structure, together making up X% of total imports. It was distantly followed by Spain (X tons) and Belgium (X tons), together making up a X% share of total imports. Poland (X tons), the Netherlands (X tons) and France (X tons) held a minor share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by the Netherlands (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest free-cutting steel wire rod importing markets in the European Union were Italy ($X), Germany ($X) and Spain ($X), with a combined X% share of total imports. Belgium, Poland, the Netherlands and France lagged somewhat behind, together comprising a further X%.

The Netherlands, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the import price in the European Union amounted to $X per ton, which is down by X% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2022, and then fell sharply in the following year.

Average prices varied somewhat amongst the major importing countries. In 2023, major importing countries recorded the following prices: in France ($X per ton) and Italy ($X per ton), while Belgium ($X per ton) and Germany ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Italy (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform