A new report published by IndexBox on August 2, 2025, titled “Europe – Iron or Steel Wire Products – Market Analysis, Forecast, Size, Trends And Insights,” predicts a steady growth in the European market for iron or steel wire products. The report forecasts a Compound Annual Growth Rate (CAGR) of +0.6% in volume and +2.1% in value from 2024 to 2035. This growth is attributed to the increasing demand for these products, presenting significant opportunities for businesses in the industry.
Market Forecast
The report suggests that the market for iron or steel wire products in Europe will maintain an upward consumption trend over the next decade, driven by increasing demand. The market performance is expected to continue its current trend pattern, expanding with an anticipated CAGR of +0.6% from 2024 to 2035. This growth is projected to increase the market volume to 1.4 million tons by the end of 2035.
In terms of value, the market is forecasted to grow with an anticipated CAGR of +2.1% from 2024 to 2035. This growth is expected to increase the market value to $4.3 billion (in nominal wholesale prices) by the end of 2035.
Consumption Trends
Despite a decline in the consumption of iron or steel wire products in Europe for the third consecutive year, which decreased by -3.6% to 1.3 million tons in 2024, the general consumption trend remains relatively flat. 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 European market for iron or steel wire products dropped to $3.5 billion in 2024, declining by -5.9% against the previous year. This figure reflects the total revenues of producers and importers, excluding logistics costs, retail marketing costs, and retailers’ margins. Despite this, the consumption trend continues to remain relatively flat, reaching 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, with a consumption of 489K tons, was the largest consumer of iron or steel wire products, accounting for approximately 38% of the total volume. Furthermore, consumption in Russia was twice as much as that of the second-largest consumer, Germany, which consumed 212K tons. Italy ranked third in terms of total consumption with a 9.4% share.
In Russia, consumption of iron or steel wire products remained relatively stable from 2013 to 2024. In other countries, the average annual rates were as follows: Germany (+0.2% per year) and Italy (-1.6% per year).
In terms of market value, Germany ($1.1 billion), Russia ($745 million), and Italy ($347 million) had the highest levels in 2024, with a combined 64% share of the total market. The UK, Poland, Spain, France, the Netherlands, Romania, and Ukraine trailed behind, accounting for a further share of the market.
