IndexBox has recently released a new report titled: Europe – Iron or Steel Wire Products – Market Analysis, Forecast, Size, Trends And Insights. This report offers an in-depth analysis of the European market for iron or steel wire products for the year 2024, with projections up to 2035. The market is projected to expand at a Compound Annual Growth Rate (CAGR) of +0.8% in volume, reaching 1.4 million tons by 2035, and a CAGR of +2.1% in value, amounting to $4.4 billion. In 2024, the consumption stood at approximately 1.3 million tons, with Russia being the largest consumer (37% share), followed by Germany and Italy. The production in 2024 was 1.4 million tons, with Russia leading (35% share). Imports decreased to 523,000 tons, with Germany, Belgium, and France being the top importers, while exports dropped to 577,000 tons, led by the Czech Republic, the Netherlands, and Poland. The report includes detailed data on per capita consumption, import/export prices, and growth rates for key countries.
Key Findings:
– The market is expected to grow at a volume CAGR of +0.8% to 1.4 million tons and a value CAGR of +2.1% to $4.4 billion by 2035.
– Russia is the leading consumer and producer, accounting for 37% of consumption and 35% of production.
– Germany is the market value leader at $1.1 billion, followed by Russia and Italy.
– Imports and exports declined in 2024, with the Czech Republic, Netherlands, and Poland being the top exporters.
– Significant price disparities exist, with the UK having the highest import prices and Luxembourg having the lowest export prices.
Market Forecast:
The European market for iron or steel wire products is expected to continue its upward consumption trend over the next decade due to increasing demand. The market performance is forecasted to maintain its current trend pattern, expanding with an anticipated CAGR of +0.8% from 2024 to 2035, which is projected to bring the market volume to 1.4 million tons by the end of 2035.
In terms of value, the market is forecasted to increase with an anticipated CAGR of +2.1% from 2024 to 2035, which is projected to bring the market value to $4.4 billion (in nominal wholesale prices) by the end of 2035.
Consumption:
In 2024, approximately 1.3 million tons of iron or steel wire products were consumed in Europe, remaining stable compared to the previous year. However, overall consumption showed a relatively flat trend pattern. As a result, consumption reached a peak volume of 1.5 million tons. From 2022 to 2024, the growth of consumption remained at a lower figure.
The revenue of the market for iron or steel wire products in Europe declined to $3.5 billion in 2024, decreasing by -5.1% 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). In general, consumption saw a relatively flat trend pattern. As a result, consumption reached a peak level of $3.8 billion. From 2022 to 2024, the growth of the market remained at a lower figure.
Consumption By Country:
Russia was the largest consumer of iron or steel wire products in 2024, consuming 489,000 tons.
