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South Africa - Iron and Steel Wire - Market Analysis, Forecast, Size, Trends and Insights
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View PricingSouth Africa: Market for Iron and Steel Wire 2024
Market Size for Iron and Steel Wire in South Africa
The South African iron and steel wire market declined remarkably to $X in 2023, which is down by X% against the previous year. In general, the total consumption indicated a noticeable expansion 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 decreased by X% against 2021 indices. As a result, consumption attained the peak level of $X. From 2022 to 2023, the growth of the market failed to regain momentum.
Production of Iron and Steel Wire in South Africa
In value terms, iron and steel wire production declined remarkably to $X in 2023 estimated in export price. Overall, the total production indicated a temperate expansion 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. The growth pace was the most rapid in 2021 when the production volume increased by X%. Over the period under review, production reached the peak level at $X in 2022, and then dropped dramatically in the following year.
Exports of Iron and Steel Wire
Exports from South Africa
In 2023, overseas shipments of iron and steel wire increased by X% to X tons, rising for the second consecutive year after two years of decline. Overall, total exports indicated a mild increase from 2012 to 2023: its volume 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, exports increased by X% against 2021 indices. The most prominent rate of growth was recorded in 2022 with an increase of X%. Over the period under review, the exports reached the maximum at X tons in 2019; however, from 2020 to 2023, the exports failed to regain momentum.
In value terms, iron and steel wire exports reduced to $X in 2023. In general, exports enjoyed a temperate expansion. The growth pace was the most rapid in 2022 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2019; however, from 2020 to 2023, the exports stood at a somewhat lower figure.
Exports by Country
Zimbabwe (X tons) was the main destination for iron and steel wire exports from South Africa, accounting for a X% share of total exports. Moreover, iron and steel wire exports to Zimbabwe exceeded the volume sent to the second major destination, Botswana (X tons), threefold. Zambia (X tons) ranked third in terms of total exports with an X% share.
From 2012 to 2023, the average annual rate of growth in terms of volume to Zimbabwe totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Botswana (X% per year) and Zambia (X% per year).
In value terms, Zimbabwe ($X) remains the key foreign market for iron and steel wire exports from South Africa, comprising X% of total exports. The second position in the ranking was taken by Botswana ($X), with a X% share of total exports. It was followed by Zambia, with a X% share.
From 2012 to 2023, the average annual growth rate of value to Zimbabwe amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Botswana (X% per year) and Zambia (X% per year).
Export Prices by Country
In 2023, the average iron and steel wire export price amounted to $X per ton, which is down by X% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of X%. Over the period under review, the average export prices hit record highs at $X per ton in 2022, and then reduced dramatically in the following year.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Australia ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to the United States (X%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Iron and Steel Wire
Imports into South Africa
In 2023, supplies from abroad of iron and steel wire increased by X% to X tons, rising for the second consecutive year after two years of decline. In general, imports, however, saw a slight reduction. The most prominent rate of growth was recorded in 2022 when imports increased by X%. Imports peaked at X tons in 2015; however, from 2016 to 2023, imports remained at a lower figure.
In value terms, iron and steel wire imports fell to $X in 2023. Overall, imports, however, saw a perceptible contraction. The growth pace was the most rapid in 2022 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2023, imports remained at a lower figure.
Imports by Country
In 2023, China (X tons) constituted the largest supplier of iron and steel wire to South Africa, accounting for a X% share of total imports. Moreover, iron and steel wire imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), more than tenfold. The third position in this ranking was held by Spain (X tons), with a X% share.
From 2012 to 2023, the average annual growth rate of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and Spain (X% per year).
In value terms, China ($X) constituted the largest supplier of iron and steel wire to South Africa, comprising X% of total imports. The second position in the ranking was taken by India ($X), with a X% share of total imports. It was followed by France, with a X% share.
From 2012 to 2023, the average annual rate of growth in terms of value from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and France (X% per year).
Import Prices by Country
In 2023, the average iron and steel wire import price amounted to $X per ton, shrinking by X% against the previous year. Over the period under review, the import price recorded a mild reduction. The growth pace was the most rapid in 2022 when the average import price increased by X%. Over the period under review, average import prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2023, import prices remained at a lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was South Korea ($X per ton), while the price for China ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by France (X%), while the prices for the other major suppliers experienced more modest paces of growth.
Source: IndexBox Platform
This report provides an in-depth analysis of the market for iron and steel wire in South Africa. 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 24341130 - Iron or non-alloy steel wire containing < 0,25 % of carbon including crimping wire excluding stranded wire, barbed wire used for fencing - duplex wire - saw-tooth wire, insulated electric wire
- Prodcom 24341150 - Iron or non-alloy steel wire containing 0,25-0,6 % of carbon including crimped wire excluding stranded wire, barbed wire used for fencing, duplex wire, saw-tooth wire, insulated electric wire
- Prodcom 24341170 - Iron or non-alloy steel wire containing . 0,6 % of carbon including crimping wire excluding stranded wire, barbed wire used for fencing, duplex wire, saw-tooth wire, insulated electric wire
- Prodcom 24341200 - Stainless steel wire (excluding very fine sterile stainless wire used for surgical sutures)
- Prodcom 24341300 - Alloy steel wire (excluding stranded wire, barbed wire of a kind used for fencing, duplex wire, saw-tooth wire, insulated electric wire, of stainless steel)
Country coverage:
- South Africa
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in South Africa
- 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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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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
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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