United Kingdom: Steel Plaited Band Market 2024

Steel Plaited Band Market Size in the UK

In 2022, the UK steel plaited band market increased by X% to $X, rising for the fourth consecutive year after five years of decline. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Steel plaited band consumption peaked in 2022 and is expected to retain growth in years to come.

Steel Plaited Band Production in the UK

In value terms, steel plaited band production declined slightly to $X in 2022 estimated in export price. In general, production, however, continues to indicate a abrupt descent. The pace of growth was the most pronounced in 2013 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

Steel Plaited Band Exports

Exports from the UK

In 2022, shipments abroad of iron or steel plaited bands and slings increased by X% to X tons for the first time since 2019, thus ending a two-year declining trend. In general, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, steel plaited band exports shrank to $X in 2022. Over the period under review, exports, however, saw a pronounced setback. The pace of growth was the most pronounced in 2018 when exports increased by X%. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

India (X tons), China (X tons) and Norway (X tons) were the main destinations of steel plaited band exports from the UK, with a combined X% share of total exports. Ireland, the Netherlands, Bangladesh, the United States and France lagged somewhat behind, together accounting for a further X%.

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

In value terms, India ($X), the United States ($X) and Norway ($X) were the largest markets for steel plaited band exported from the UK worldwide, together comprising X% of total exports. The Netherlands, Ireland, China, France and Bangladesh lagged somewhat behind, together accounting for a further X%.

Bangladesh, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average steel plaited band export price amounted to $X per ton, reducing by X% against the previous year. In general, the export price saw a perceptible downturn. The most prominent rate of growth was recorded in 2021 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to India (X%), while the prices for the other major destinations experienced mixed trend patterns.

Steel Plaited Band Imports

Imports into the UK

In 2022, purchases abroad of iron or steel plaited bands and slings increased by X% to X tons, rising for the second year in a row after two years of decline. Over the period under review, total imports indicated buoyant growth from 2012 to 2022: its volume 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 pace of growth appeared the most rapid in 2018 with an increase of X%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, steel plaited band imports soared to $X in 2022. Overall, total imports indicated perceptible growth 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 pace of growth was the most pronounced in 2018 with an increase of X%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in years to come.

Imports by Country

Indonesia (X tons), India (X tons) and Thailand (X tons) were the main suppliers of steel plaited band imports to the UK, together accounting for X% of total imports.

From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), India ($X) and China ($X) appeared to be the largest steel plaited band suppliers to the UK, together accounting for X% of total imports.

Indonesia, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average steel plaited band import price amounted to $X per ton, with an increase of X% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the average import price increased by X%. As a result, import price reached the peak level of $X per ton. From 2017 to 2022, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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