IndexBox has recently released a comprehensive report titled: “EU – Iron or Steel Wire Products – Market Analysis, Forecast, Size, Trends And Insights.” This report provides an in-depth analysis of the European Union’s iron or steel wire products market for the year 2024, with projections extending to 2035.
In 2024, the consumption of iron or steel wire products in the EU was recorded at 700K tons, amounting to a value of $2.4B. The leading consumers in this market were Germany, Italy, and France. The production of these products reached 796K tons, with Germany, Italy, and the Czech Republic leading the charge.
The market is characterized by significant intra-EU trade, with imports recorded at 442K tons and exports at 538K tons. The forecast predicts a market growth to 818K tons in volume and $3.2B in value by 2035. This growth is expected to be driven by a rising demand, with Germany maintaining its dominant position in both consumption and value.
Key Findings:
– The EU market is forecasted to grow to 818K tons and $3.2B by 2035, following a recent stabilization in consumption.
– Germany is the undisputed market leader, accounting for 32% of consumption volume and 46% of the total market value.
– Spain recorded the fastest consumption growth rate among major countries from 2013 to 2024.
– Intra-EU trade is significant, with the Czech Republic and the Netherlands being top exporters, and Germany and France being top importers.
– Notable price disparities exist, with German import prices being double those of Belgium and export prices significantly higher than other EU suppliers.
Market Forecast:
The market for iron or steel wire products in the European Union is expected to continue its upward consumption trend over the next decade, driven by increasing demand. Market performance is forecasted to accelerate, expanding with an anticipated CAGR of +1.4% for the period from 2024 to 2035. This is projected to bring the market volume to 818K tons by the end of 2035.
In terms of value, the market is forecasted to increase with an anticipated CAGR of +2.7% for the period from 2024 to 2035. This is projected to bring the market value to $3.2B (in nominal wholesale prices) by the end of 2035.
Consumption:
In 2024, the consumption of iron or steel wire products in the European Union modestly dropped to 700K tons, standing approximately at the previous year’s figure. Overall, consumption recorded a relatively flat trend pattern. As a result, consumption reached the peak volume of 858K tons. From 2022 to 2024, the growth of consumption failed to regain momentum.
The size of the market for iron or steel wire products in the European Union contracted to $2.4B in 2024, leveling off at 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 showed a relatively flat trend pattern. As a result, consumption reached the peak level of $2.6B. From 2022 to 2024, the growth of the market failed to regain momentum.
Consumption By Country:
The countries with the highest volumes of consumption were Germany, Italy, and France.
