U.S. Steel Wire Market. Analysis And Forecast to 2030
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View PricingSteel Wire Price in the United States - 2023
Contents:
- Steel Wire Price in the United States (CIF) - 2023
- Steel Wire Price in the United States (FOB) - 2023
- Steel Wire Imports in the United States
- Steel Wire Exports in the United States
Steel Wire Price in the United States (CIF) - 2023
In August 2023, the average steel wire import price amounted to $1,598 per ton, leveling off at the previous month. Over the period under review, the import price recorded a mild curtailment. The most prominent rate of growth was recorded in January 2023 when the average import price increased by 5.3% month-to-month. Over the period under review, average import prices reached the maximum at $2,053 per ton in September 2022; however, from October 2022 to August 2023, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In August 2023, the country with the highest price was South Korea ($2,294 per ton), while the price for China ($1,017 per ton) was amongst the lowest.
From August 2022 to August 2023, the most notable rate of growth in terms of prices was attained by Thailand (-0.7%), while the prices for the other major suppliers experienced a decline.
Steel Wire Price in the United States (FOB) - 2023
In August 2023, the average steel wire export price amounted to $4,067 per ton, reducing by -3.3% against the previous month. Over the period under review, the export price continues to indicate a slight decline. The most prominent rate of growth was recorded in April 2023 when the average export price increased by 22% m-o-m. Over the period under review, the average export prices reached the peak figure at $4,777 per ton in August 2022; however, from September 2022 to August 2023, the export prices stood at a somewhat lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was Mexico ($3,956 per ton), while the average price for exports to Aruba ($1,500 per ton) was amongst the lowest.
From August 2022 to August 2023, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+0.1%), while the prices for the other major destinations experienced a decline.
Steel Wire Imports in the United States
For the fourth year in a row, the United States recorded growth in purchases abroad of steel wire, which increased by 0.4% to 1.7M tons in 2022. The total import volume increased at an average annual rate of +8.1% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of 21%. Over the period under review, imports attained the maximum in 2022 and are likely to see steady growth in years to come.
In value terms, steel wire imports skyrocketed to $3.2B in 2022. Over the period under review, total imports indicated buoyant growth from 2019 to 2022: its value increased at an average annual rate of +19.3% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +82.6% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 43% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the immediate term.
| Import of Steel Wire in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 467 | 351 | 493 | 521 | 3.7% |
| Mexico | 170 | 218 | 301 | 407 | 33.8% |
| Canada | 209 | 235 | 355 | 389 | 23.0% |
| South Korea | 152 | 140 | 184 | 253 | 18.5% |
| Oman | 88.5 | 85.3 | 130 | 226 | 36.7% |
| India | 97.3 | 69.4 | 127 | 206 | 28.4% |
| Taiwan (Chinese) | 108 | 86.6 | 116 | 139 | 8.8% |
| Thailand | 50.6 | 61.8 | 87.9 | 114 | 31.1% |
| Vietnam | 36.6 | 61.5 | 86.7 | 98.6 | 39.1% |
| Turkey | 44.5 | 41.9 | 63.4 | 81.4 | 22.3% |
| Malaysia | 45.0 | 48.4 | 52.1 | 70.3 | 16.0% |
| Lithuania | 9.2 | 8.2 | 21.6 | 58.4 | 85.2% |
| Sri Lanka | 31.3 | 26.4 | 33.9 | 46.2 | 13.9% |
| Others | 374 | 317 | 443 | 588 | 16.3% |
| Total | 1,885 | 1,751 | 2,495 | 3,196 | 19.2% |
Top Suppliers of Steel Wire to the United States in 2022:
- China (368.6K tons)
- Mexico (290.9K tons)
- Canada (168.1K tons)
- Oman (105.2K tons)
- South Korea (97.0K tons)
- India (82.4K tons)
- Thailand (69.5K tons)
- Vietnam (63.7K tons)
- Taiwan (Chinese) (57.1K tons)
- Turkey (53.4K tons)
- Malaysia (43.2K tons)
- Sri Lanka (31.5K tons)
- Lithuania (30.3K tons)
Steel Wire Exports in the United States
In 2022, exports of steel wire from the United States reached 119K tons, surging by 1.7% against the year before. Overall, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 8.8%.
In value terms, steel wire exports surged to $517M in 2022. The total export value increased at an average annual rate of +8.0% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of 20%. The exports peaked in 2022 and are expected to retain growth in years to come.
| Export of Steel Wire in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Mexico | 146 | 120 | 137 | 180 | 7.2% |
| Canada | 122 | 113 | 139 | 153 | 7.8% |
| Brazil | 5.4 | 10.8 | 10.0 | 15.6 | 42.4% |
| United Kingdom | 9.1 | 9.8 | 15.0 | 13.9 | 15.2% |
| Taiwan (Chinese) | 3.1 | 2.5 | 3.1 | 2.3 | -9.5% |
| Others | 124 | 107 | 130 | 151 | 6.8% |
| Total | 411 | 363 | 434 | 517 | 7.9% |
Top Export Markets for Steel Wire from the United States in 2022:
- Canada (53.2K tons)
- Mexico (40.4K tons)
- Brazil (4.2K tons)
- United Kingdom (2.9K tons)
- Taiwan (Chinese) (1.4K tons)
This report provides an in-depth analysis of the steel wire market in the U.S.. 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.
Product coverage:
- NAICS 3311109 - Steel wire, including galvanized and other coated wire, made in steel mills producing wire rods or hot rolled bars
- NAICS 331222 - Steel wire drawing
Companies mentioned:
- Fort Wayne Metals Research Products Corp
- Bekaert Corporation
- Master-Halco, Gafp
- Insteel Industries
- Taubensee Steel & Wire Company
- The Heico Companies L L C
- Suncoast Post-Tension
- Southwestern Wire
- Draka Elevator Products
- Zapp Precision Wire
- Tappan Wire & Cable Inc.
- Tokusen U.S.A., Hamrock
- Davis Wire Corporation
- Laclede Chain Manufacturing Company
- National-Standard
- Owl Wire & Cable
- Barrette Outdoor Living
- Loos & Co.
- Mount Joy Wire Corporation
- Central Wire
- Tree Island Wire (usa)
- American Manufacturing
- United Wire Hanger Corp
- Bekaert North America Management Corporation
- Insteel Wire Products Company
- National Material Company
- The Gehr Group
Country coverage:
- United States
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in the U.S.
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
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:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
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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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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