Overview of the Global Market for Wire Rod Of Free-Cutting Steel

Market Size for Wire Rod Of Free-Cutting Steel

In 2022, the global free-cutting steel wire rod market increased by X% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the global market attained the maximum level in 2022 and is expected to retain growth in years to come.

Production of Wire Rod Of Free-Cutting Steel

In value terms, free-cutting steel wire rod production dropped modestly to $X in 2022 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the production volume increased by X%. Over the period under review, global production attained the maximum level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Wire Rod Of Free-Cutting Steel

Exports

In 2022, approx. X tons of wire rod of free-cutting steel were exported worldwide; which is down by X% compared with the previous year. Overall, exports continue to indicate a noticeable downturn. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, the global exports attained the maximum at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, free-cutting steel wire rod exports shrank to $X in 2022. In general, exports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when exports increased by X%. As a result, the exports attained the peak of $X, and then reduced in the following year.

Exports by Country

Germany (X tons), France (X tons), Switzerland (X tons) and Spain (X tons) represented roughly X% of total exports in 2022. Japan (X tons) took the next position in the ranking, followed by the UK (X tons) and the Netherlands (X tons). All these countries together held near X% share of total exports. The following exporters - Italy (X tons), South Africa (X tons), Trinidad and Tobago (X tons), the United States (X tons) and Russia (X tons) - each finished at an X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Russia (with a CAGR of X%), while the other global leaders experienced more modest paces of growth.

In value terms, the largest free-cutting steel wire rod supplying countries worldwide were Germany ($X), Switzerland ($X) and France ($X), with a combined X% share of global exports. Spain, Japan, the UK, the Netherlands, the United States, Italy, Trinidad and Tobago, South Africa and Russia lagged somewhat behind, together accounting for a further X%.

Russia, 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 global leaders experienced more modest paces of growth.

Export Prices by Country

The average free-cutting steel wire rod export price stood at $X per ton in 2022, rising by X% against the previous year. Overall, export price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, free-cutting steel wire rod export price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by X% against the previous year. The global export price peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United States ($X per ton), while South Africa ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (X%), while the other global leaders experienced more modest paces of growth.

Imports of Wire Rod Of Free-Cutting Steel

Imports

Global free-cutting steel wire rod imports fell notably to X tons in 2022, dropping by X% against the previous year's figure. In general, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Global imports peaked at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, free-cutting steel wire rod imports rose slightly to $X in 2022. Over the period under review, total imports indicated a modest expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of X%. Global imports peaked in 2022 and are likely to continue growth in years to come.

Imports by Country

In 2022, Italy (X tons), distantly followed by Germany (X tons), the Dominican Republic (X tons), Turkey (X tons), the United States (X tons) and Spain (X tons) represented the major importers of wire rod of free-cutting steel, together generating X% of total imports. The following importers - Canada (X tons), South Korea (X tons), Senegal (X tons), Mauritius (X tons), Belgium (X tons), Taiwan (Chinese) (X tons) and China (X tons) - together made up X% of total imports.

Imports into Italy increased at an average annual rate of X% from 2012 to 2022. At the same time, Mauritius (X%), the Dominican Republic (X%), Spain (X%), Turkey (X%), Belgium (X%) and South Korea (X%) displayed positive paces of growth. Moreover, Mauritius emerged as the fastest-growing importer imported in the world, with a CAGR of X% from 2012-2022. By contrast, Germany (X%), China (X%), the United States (X%), Senegal (X%), Taiwan (Chinese) (X%) and Canada (X%) illustrated a downward trend over the same period. Italy (X p.p.), the Dominican Republic (X p.p.), Turkey (X p.p.), Spain (X p.p.) and Mauritius (X p.p.) significantly strengthened its position in terms of the global imports, while the United States, Taiwan (Chinese) and Canada saw its share reduced by X%, X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Italy ($X) constitutes the largest market for imported wire rod of free-cutting steel worldwide, comprising X% of global imports. The second position in the ranking was held by Germany ($X), with an X% share of global imports. It was followed by Turkey, with an X% share.

In Italy, free-cutting steel wire rod imports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Germany (X% per year) and Turkey (X% per year).

Import Prices by Country

In 2022, the average free-cutting steel wire rod import price amounted to $X per ton, growing by X% against the previous year. Overall, import price indicated a tangible expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, free-cutting steel wire rod import price increased by X% against 2020 indices. The growth pace was the most rapid in 2021 when the average import price increased by X%. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Canada ($X per ton), while Senegal ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (X%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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