Northern America: Market for Iron and Steel Wire 2024

Market Size for Iron and Steel Wire in Northern America

In 2022, the North American iron and steel wire market decreased by X% to $X for the first time since 2019, thus ending a two-year rising trend. The total consumption indicated a strong 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, consumption increased by X% against 2018 indices. The level of consumption peaked at $X in 2021, and then fell in the following year.

Production of Iron and Steel Wire in Northern America

In value terms, iron and steel wire production fell to $X in 2022 estimated in export price. The total production indicated a prominent 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, production increased by X% against 2016 indices. The pace of growth was the most pronounced in 2018 when the production volume increased by X% against the previous year. Over the period under review, production reached the peak level at $X in 2021, and then dropped slightly in the following year.

Exports of Iron and Steel Wire

Exports in Northern America

In 2022, after two years of growth, there was significant decline in overseas shipments of iron and steel wire, when their volume decreased by X% to X tons. In general, exports recorded a perceptible curtailment. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, the exports attained the maximum at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, iron and steel wire exports expanded rapidly to $X in 2022. The total export value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

The shipments of the two major exporters of iron and steel wire, namely Canada and the United States, represented more than two-thirds of total export.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Canada (with a CAGR of X%).

In value terms, the United States ($X) and Canada ($X) were the countries with the highest levels of exports in 2022.

Among the main exporting countries, Canada, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

The export price in Northern America stood at $X per ton in 2022, surging by X% against the previous year. Export price indicated measured growth 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, iron and steel wire export price increased by X% against 2020 indices. As a result, the export price reached the peak level and is likely to continue 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 Canada stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (X%).

Imports of Iron and Steel Wire

Imports in Northern America

In 2022, approx. X tons of iron and steel wire were imported in Northern America; which is down by X% compared with the year before. The total import volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2021 with an increase of X%. The volume of import peaked at X tons in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, iron and steel wire imports skyrocketed to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

The United States was the main importer of iron and steel wire in Northern America, with the volume of imports amounting to X tons, which was near X% of total imports in 2022. It was distantly followed by Canada (X tons), constituting a X% share of total imports.

Imports into the United States increased at an average annual rate of X% from 2012 to 2022. At the same time, Canada (X%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing importer imported in Northern America, with a CAGR of X% from 2012-2022. The shares of the largest importers remained relatively stable throughout the analyzed period.

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

From 2012 to 2022, the average annual growth rate of value in the United States totaled X%.

Import Prices by Country

In 2022, the import price in Northern America amounted to $X per ton, surging by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Canada ($X per ton), while the United States totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (X%).

Source: IndexBox Platform

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