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 saw a contraction to 7.3 million tons ($11.9 billion) in 2024 following a period of growth. The leading consumers in this market are Russia, Italy, and Germany, while the top producers are Italy, Russia, and Germany. The market is projected to grow at a compound annual growth rate (CAGR) of +0.5% in volume and +1.9% in value through 2035, reaching 7.7 million tons ($14.7 billion).
The report also includes detailed import/export statistics by country and product type. It highlights Poland and Germany as the primary importers and Italy and the Czech Republic as the leading exporters. There are significant price variations across different wire types.
Key findings from the report include:
– The market contracted in 2024 to 7.3 million tons ($11.9 billion) but is expected to grow at a CAGR of +0.5% in volume and +1.9% in value to 2035.
– Russia, Italy, and Germany are the largest consuming countries, accounting for 53% of the total volume.
– Italy, Russia, and Germany are the top producers, making up 62% of Europe’s total production.
– Stainless steel wire has the highest import and export prices, at $5,269/ton and $7,476/ton respectively.
– France recorded the highest growth rates in both consumption value (CAGR +16.7%) and per capita consumption from 2013-2024.
The report forecasts that the market will continue its upward consumption trend over the next decade due to increasing demand for iron and steel wire in Europe. The market performance is expected to maintain its current trend pattern, expanding with an anticipated CAGR of +0.5% from 2024 to 2035, which is projected to bring the market volume to 7.7 million tons by the end of 2035.
In terms of value, the market is expected to increase with an anticipated CAGR of +1.9% from 2024 to 2035, which is projected to bring the market value to $14.7 billion (in nominal wholesale prices) by the end of 2035.
In 2024, Europe’s consumption of iron and steel wire decreased to 7.3 million tons, a decline of -13.8% compared to the previous year. The total consumption volume increased at an average annual rate of +1.1% from 2013 to 2024. The maximum volume was reached at 8.5 million tons in 2023, followed by a decline in the subsequent year.
The value of the iron and steel wire market in Europe contracted significantly to $11.9 billion in 2024, a decrease of -18.8% compared to the previous year. This figure reflects the total revenues of producers and importers, excluding logistics costs, retail marketing costs, and retailers’ margins. The total consumption showed a moderate expansion from 2013 to 2024, with its value increasing at an average annual rate of +2.6% over the last eleven-year period.
