Benelux: Market for Iron and Steel Wire 2024

Market Size for Iron and Steel Wire in Benelux

The Benelux iron and steel wire market amounted to less than $X in 2023, approximately equating the previous year. In general, consumption saw a mild shrinkage. The level of consumption peaked at $X in 2013; however, from 2014 to 2023, consumption failed to regain momentum.

Production of Iron and Steel Wire in Benelux

In value terms, iron and steel wire production declined significantly to less than $X in 2023 estimated in export price. Over the period under review, production showed a mild increase. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. The level of production peaked at $X in 2021; however, from 2022 to 2023, production failed to regain momentum.

Exports of Iron and Steel Wire

Exports in Benelux

In 2023, the amount of iron and steel wire exported in Benelux rose modestly to X tons, surging by X% compared with the previous year. In general, exports recorded a buoyant expansion. The most prominent rate of growth was recorded in 2022 when exports increased by X%. Over the period under review, the exports hit record highs in 2023 and are expected to retain growth in years to come.

In value terms, iron and steel wire exports dropped markedly to $X in 2023. Overall, exports saw pronounced growth. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2022, and then shrank rapidly in the following year.

Exports by Country

In 2023, the Netherlands (X tons) was the key exporter of iron and steel wire, committing X% of total exports. Belgium (X tons) ranks second in terms of the total exports with a X% share, followed by Luxembourg (X%).

The Netherlands was also the fastest-growing in terms of the iron and steel wire exports, with a CAGR of X% from 2012 to 2023. Belgium (X%) and Luxembourg (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of the Netherlands increased by X percentage points.

In value terms, the largest iron and steel wire supplying countries in Benelux were the Netherlands ($X), Belgium ($X) and Luxembourg ($X).

The Netherlands, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in Benelux stood at $X per ton in 2023, with a decrease of X% against the previous year. In general, the export price recorded a deep downturn. The most prominent rate of growth was recorded in 2018 an increase of X%. Over the period under review, the export prices hit record highs at $X per ton in 2013; however, from 2014 to 2023, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Belgium (X%), while the other leaders experienced mixed trends in the export price figures.

Imports of Iron and Steel Wire

Imports in Benelux

In 2023, overseas purchases of iron and steel wire decreased by X% to X tons, falling for the second year in a row after two years of growth. In general, imports continue to indicate a slight setback. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, imports attained the peak figure at X tons in 2014; however, from 2015 to 2023, imports remained at a lower figure.

In value terms, iron and steel wire imports fell remarkably to $X in 2023. Overall, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2022, and then declined notably in the following year.

Imports by Country

The Netherlands represented the key importing country with an import of around X tons, which reached X% of total imports. It was distantly followed by Belgium (X tons) and Luxembourg (X tons), together achieving a X% share of total imports.

The Netherlands experienced a relatively flat trend pattern with regard to volume of imports of iron and steel wire. At the same time, Luxembourg (X%) displayed positive paces of growth. Moreover, Luxembourg emerged as the fastest-growing importer imported in Benelux, with a CAGR of X% from 2012-2023. By contrast, Belgium (X%) illustrated a downward trend over the same period. While the share of the Netherlands (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Belgium (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Netherlands ($X) constitutes the largest market for imported iron and steel wire in Benelux, comprising X% of total imports. The second position in the ranking was taken by Belgium ($X), with a X% share of total imports.

In the Netherlands, iron and steel wire imports expanded at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Belgium (X% per year) and Luxembourg (X% per year).

Import Prices by Country

In 2023, the import price in Benelux amounted to $X per ton, reducing by X% against the previous year. Import price indicated a notable expansion from 2012 to 2023: its price 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, iron and steel wire import price increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2022 an increase of X%. As a result, import price reached the peak level of $X per ton, and then contracted in the following year.

Average prices varied somewhat amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was the Netherlands ($X per ton), while Belgium ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the Netherlands (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform