IndexBox has recently released a new report titled “Europe – Iron and Steel Wire – Market Analysis, Forecast, Size, Trends and Insights.” The report provides an in-depth analysis of the European iron and steel wire market, which experienced a significant contraction in 2024. Consumption fell to 7.3 million tons, marking a decrease of 13.8%, and the market value dropped to $11.9 billion, an 18.8% decrease from the peak levels of 2023.
However, the long-term trend from 2013 to 2024 indicates modest growth. Consumption increased at an average annual rate of 1.1%, and the market value grew at 2.6%. The market is projected to expand with a volume compound annual growth rate (CAGR) of 0.5% and a value CAGR of 1.9% from 2024 to 2035. By 2035, the market is expected to reach 7.7 million tons and $14.7 billion.
Russia, Italy, and Germany are the leading consumers, accounting for 53% of total consumption. These countries also lead in production, with a combined share of 62%. The trade landscape reveals significant import-export activity. Poland, Germany, and Switzerland are the top importers, while Italy, Czech Republic, and Germany are the leading exporters. However, both imports and exports saw a sharp decline in 2024.
The market consists of various wire types, with uncoated iron/non-alloy steel wire being the most traded category. Stainless steel wire, on the other hand, commands the highest prices in both imports ($5,269/ton) and exports ($7,476/ton).
Key findings of the report include:
– The market is forecasted to grow at a 0.5% volume CAGR and 1.9% value CAGR through 2035.
– Russia, Italy, and Germany dominate consumption with a combined market share of 53%.
– France shows the strongest growth in both consumption and market value among major countries.
– Stainless steel wire commands premium prices at $5,269/ton for imports and $7,476/ton for exports.
– Italy leads in export volume, while Germany leads in import value.
The report forecasts that the increasing demand for iron and steel wire in Europe will drive the market’s upward consumption trend over the next decade. The market performance is expected to maintain its current trend pattern, expanding with an anticipated CAGR of 0.5% from 2024 to 2035. This growth is projected to bring the market volume to 7.7 million tons by the end of 2035.
In value terms, the market is forecasted to increase with an anticipated CAGR of 1.9% from 2024 to 2035. This increase is projected to bring the market value to $14.7 billion (in nominal wholesale prices) by the end of 2035.
