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Mar 07, 2025

European Union's Iron and Steel Wire Market to See Slow Growth with CAGR of +0.7% by 2035 - News and Statistics - IndexBox

Get instant access to more than 2 million reports, dashboards, and datasets on the IndexBox Platform. IndexBox has just published a new report: EU - Iron and Steel Wire - Market Analysis, Forecast,

Get instant access to more than 2 million reports, dashboards, and datasets on the IndexBox Platform.

IndexBox has just published a new report: EU - Iron and Steel Wire - Market Analysis, Forecast, Size, Trends and Insights.

The European Union's iron and steel wire market is expected to see a steady increase in consumption over the next decade, driven by growing demand. Market performance is projected to expand with a CAGR of +0.7% in volume and +1.7% in value from 2024 to 2035, reaching 5.4M tons and $9.9B respectively by the end of 2035.

Driven by increasing demand for iron and steel wire in the European Union, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +0.7% for the period from 2024 to 2035, which is projected to bring the market volume to 5.4M tons by the end of 2035.

In value terms, the market is forecast to increase with an anticipated CAGR of +1.7% for the period from 2024 to 2035, which is projected to bring the market value to $9.9B (in nominal wholesale prices) by the end of 2035.

In 2024, approx. 5M tons of iron and steel wire were consumed in the European Union; falling by -18.3% compared with the previous year. The total consumption volume increased at an average annual rate of +1.5% from 2013 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, consumption attained the maximum volume at 6.1M tons in 2023, and then reduced dramatically in the following year.

The value of the iron and steel wire market in the European Union reduced markedly to $8.2B in 2024, with a decrease of -20.9% against 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). The total consumption indicated a measured increase from 2013 to 2024: its value increased at an average annual rate of +3.0% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level at $10.4B in 2023, and then fell significantly in the following year.

The countries with the highest volumes of consumption in 2024 were Italy (1.3M tons), Germany (1.2M tons) and France (584K tons), with a combined 62% share of total consumption.

From 2013 to 2024, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by France (with a CAGR of +12.2%), while consumption for the other leaders experienced more modest paces of growth.

In value terms, the largest iron and steel wire markets in the European Union were Germany ($2.4B), Italy ($1.8B) and France ($1.2B), with a combined 66% share of the total market.

France, with a CAGR of +15.9%, saw the highest growth rate of market size in terms of the main consuming countries over the period under review, while market for the other leaders experienced more modest paces of growth.

The countries with the highest levels of iron and steel wire per capita consumption in 2024 were Italy (23 kg per person), Germany (14 kg per person) and Belgium (13 kg per person).

From 2013 to 2024, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by France (with a CAGR of +11.9%), while consumption for the other leaders experienced more modest paces of growth.

In 2024, approx. 5.1M tons of iron and steel wire were produced in the European Union; dropping by -14.6% against 2023. The total output volume increased at an average annual rate of +1.3% over the period from 2013 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 13% against the previous year. Over the period under review, production attained the peak volume at 6M tons in 2023, and then contracted in the following year.

In value terms, iron and steel wire production shrank markedly to $8.5B in 2024 estimated in export price. The total production indicated a pronounced increase from 2013 to 2024: its value increased at an average annual rate of +3.0% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 30% against the previous year. Over the period under review, production attained the maximum level at $10.1B in 2023, and then reduced notably in the following year.

The countries with the highest volumes of production in 2024 were Italy (1.9M tons), Germany (1.1M tons) and France (470K tons), with a combined 69% share of total production.

From 2013 to 2024, the biggest increases were recorded for France (with a CAGR of +9.5%), while production for the other leaders experienced more modest paces of growth.

In 2024, purchases abroad of iron and steel wire decreased by -28.3% to 2.2M tons, falling for the third year in a row after two years of growth. Over the period under review, imports showed a noticeable descent. The most prominent rate of growth was recorded in 2021 with an increase of 16% against the previous year. As a result, imports attained the peak of 3.9M tons. From 2022 to 2024, the growth of imports remained at a somewhat lower figure.

In value terms, iron and steel wire imports contracted sharply to $3.5B in 2024. Overall, imports showed a mild decline. The most prominent rate of growth was recorded in 2021 with an increase of 51%. Over the period under review, imports attained the peak figure at $6.6B in 2022; however, from 2023 to 2024, imports remained at a lower figure.

The countries with the highest levels of iron and steel wire imports in 2024 were Poland (355K tons), Germany (265K tons), France (213K tons), the Czech Republic (181K tons), Spain (155K tons), Italy (152K tons), the Netherlands (144K tons) and Romania (141K tons), together finishing at 73% of total import. Portugal (87K tons) and Austria (67K tons) followed a long way behind the leaders.

From 2013 to 2024, the biggest increases were recorded for Portugal (with a CAGR of +3.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest iron and steel wire importing markets in the European Union were Germany ($527M), Poland ($416M) and France ($326M), together accounting for 37% of total imports. Italy, the Netherlands, the Czech Republic, Spain, Romania, Portugal and Austria lagged somewhat behind, together accounting for a further 44%.

In terms of the main importing countries, Portugal, with a CAGR of +3.6%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

In 2024, iron or non-alloy steel wire, not plated or coated (788K tons), distantly followed by iron or non-alloy steel wire, plated or coated with zinc (518K tons), steel alloy wire of materials other than silico-manganese steel (294K tons), iron or non-alloy steel wire, plated or coated with non-zinc base metals (187K tons), steel alloy wire of silico-manganese steel (174K tons) and stainless steel wire (136K tons) represented the largest types of iron and steel wire, together comprising 96% of total imports. Iron or non-alloy steel wire, plated or coated other than with base metals (91K tons) followed a long way behind the leaders.

From 2013 to 2024, the biggest increases were recorded for steel alloy wire of silico-manganese steel (with a CAGR of +2.3%), while purchases for the other products experienced mixed trends in the imports figures.

In value terms, iron or non-alloy steel wire, not plated or coated ($891M), stainless steel wire ($718M) and iron or non-alloy steel wire, plated or coated with zinc ($635M) were the products with the highest levels of imports in 2024, with a combined 65% share of total imports. Steel alloy wire of materials other than silico-manganese steel, iron or non-alloy steel wire, plated or coated with non-zinc base metals, steel alloy wire of silico-manganese steel and iron or non-alloy steel wire, plated or coated other than with base metals lagged somewhat behind, together comprising a further 35%.

Steel alloy wire of silico-manganese steel, with a CAGR of +3.2%, recorded the highest rates of growth with regard to the value of imports, in terms of the main imported products over the period under review, while purchases for the other products experienced a decline in the imports figures.

In 2024, the import price in the European Union amounted to $1,581 per ton, which is down by -9.6% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the import price increased by 30% against the previous year. The level of import peaked at $1,848 per ton in 2022; however, from 2023 to 2024, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major imported products. In 2024, the product with the highest price was stainless steel wire ($5,267 per ton), while the price for iron or non-alloy steel wire, not plated or coated ($1,130 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by iron or non-alloy steel wire, not plated or coated (+1.2%), while the other products experienced more modest paces of growth.

In 2024, the import price in the European Union amounted to $1,581 per ton, dropping by -9.6% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 30%. The level of import peaked at $1,848 per ton in 2022; however, from 2023 to 2024, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Italy ($2,074 per ton), while Poland ($1,170 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by the Netherlands (+4.0%), while the other leaders experienced more modest paces of growth.

In 2024, shipments abroad of iron and steel wire decreased by -21.2% to 2.3M tons, falling for the second consecutive year after two years of growth. Overall, exports showed a perceptible slump. The pace of growth was the most pronounced in 2021 with an increase of 19%. The volume of export peaked at 3.8M tons in 2022; however, from 2023 to 2024, the exports failed to regain momentum.

In value terms, iron and steel wire exports shrank markedly to $3.9B in 2024. In general, exports saw a mild slump. The pace of growth appeared the most rapid in 2021 when exports increased by 50%. Over the period under review, the exports reached the peak figure at $6.7B in 2022; however, from 2023 to 2024, the exports remained at a lower figure.

In 2024, Italy (699K tons), distantly followed by the Czech Republic (428K tons), Germany (251K tons), Slovakia (133K tons), Belgium (118K tons) and Spain (115K tons) were the largest exporters of iron and steel wire, together comprising 76% of total exports. France (99K tons), Portugal (97K tons), the Netherlands (93K tons) and Austria (75K tons) held a relatively small share of total exports.

From 2013 to 2024, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Portugal (with a CAGR of +3.9%), while the other leaders experienced more modest paces of growth.

In value terms, Italy ($868M), the Czech Republic ($697M) and Germany ($562M) appeared to be the countries with the highest levels of exports in 2024, together comprising 54% of total exports.

In terms of the main exporting countries, Italy, with a CAGR of +4.2%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

In 2024, iron or non-alloy steel wire, not plated or coated (1.2M tons) was the largest type of iron and steel wire, making up 51% of total exports. Iron or non-alloy steel wire, plated or coated with zinc (418K tons) took the second position in the ranking, distantly followed by steel alloy wire of materials other than silico-manganese steel (218K tons), iron or non-alloy steel wire, plated or coated with non-zinc base metals (196K tons) and steel alloy wire of silico-manganese steel (135K tons). All these products together held near 42% share of total exports. The following types - stainless steel wire (98K tons) and iron or non-alloy steel wire, plated or coated other than with base metals (55K tons) - together made up 6.6% of total exports.

From 2013 to 2024, average annual rates of growth with regard to iron or non-alloy steel wire, not plated or coated exports of stood at -2.5%. Steel alloy wire of silico-manganese steel experienced a relatively flat trend pattern. stainless steel wire (-1.4%), iron or non-alloy steel wire, plated or coated with non-zinc base metals (-2.4%), steel alloy wire of materials other than silico-manganese steel (-2.5%), iron or non-alloy steel wire, plated or coated with zinc (-4.0%) and iron or non-alloy steel wire, plated or coated other than with base metals (-8.1%) illustrated a downward trend over the same period. While the share of steel alloy wire of silico-manganese steel (+1.8 p.p.) and iron or non-alloy steel wire, not plated or coated (+1.7 p.p.) increased significantly in terms of the total exports from 2013-2024, the share of iron or non-alloy steel wire, plated or coated other than with base metals (-2 p.p.) and iron or non-alloy steel wire, plated or coated with zinc (-2.7 p.p.) displayed negative dynamics. The shares of the other products remained relatively stable throughout the analyzed period.

In value terms, the largest types of exported iron and steel wire were iron or non-alloy steel wire, not plated or coated ($1.3B), stainless steel wire ($726M) and iron or non-alloy steel wire, plated or coated with zinc ($613M), together comprising 68% of total exports. Steel alloy wire of materials other than silico-manganese steel, iron or non-alloy steel wire, plated or coated with non-zinc base metals, steel alloy wire of silico-manganese steel and iron or non-alloy steel wire, plated or coated other than with base metals lagged somewhat behind, together accounting for a further 32%.

In terms of the main exported products, steel alloy wire of silico-manganese steel, with a CAGR of +3.8%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other products experienced a decline in the exports figures.

The export price in the European Union stood at $1,706 per ton in 2024, falling by -5.5% against the previous year. Over the period from 2013 to 2024, it increased at an average annual rate of +1.6%. The pace of growth was the most pronounced in 2021 when the export price increased by 26%. Over the period under review, the export prices reached the peak figure at $1,805 per ton in 2023, and then contracted in the following year.

There were significant differences in the average prices amongst the major exported products. In 2024, the product with the highest price was stainless steel wire ($7,437 per ton), while the average price for exports of iron or non-alloy steel wire, not plated or coated ($1,126 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by iron or non-alloy steel wire, plated or coated other than with base metals (+6.3%), while the other products experienced more modest paces of growth.

The export price in the European Union stood at $1,706 per ton in 2024, falling by -5.5% against the previous year. Over the last eleven years, it increased at an average annual rate of +1.6%. The pace of growth appeared the most rapid in 2021 when the export price increased by 26%. Over the period under review, the export prices attained the peak figure at $1,805 per ton in 2023, and then reduced in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Austria ($2,554 per ton), while Portugal ($972 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by the Netherlands (+4.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the market for iron and steel wire in the EU. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

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