Iron or steel stranded wire and ropes market in Spain

Earlier Report Observations

The market volume for iron or steel stranded wire and ropes in Spain decreased from 261.9 thousand tons in 2018 to 242.5 thousand tons in 2020. This decline was primarily caused by the COVID-19 pandemic in 2020, which imposed restrictions on distribution and transport, led to shortages of labor and raw materials, and resulted in strict regulations that hampered production and supply chains.

Market volume recovered to 257.1 thousand tons in 2021 and reached 261.8 thousand tons in 2022. The growth in 2022 was supported by significant imports of casting, iron, steel, and manufactures, which increased material availability. However, industrial strikes in the metal sector, including stoppages at plants like Mercedes-Benz in Vitoria, constrained production and contributed to higher costs, reflected in a sharp rise in market value to 594.3 million USD.

In 2023, the market contracted sharply to 224.7 thousand tons due to an economic slowdown in Spanish steelmaking, driven by international uncertainty and lower demand from key sectors such as automotive and construction. Ongoing strikes and high energy costs further pressured production. By 2024, volume stabilized at 225.8 thousand tons as the industry adapted to new packaging labeling regulations set to take effect in 2025, while demand for stainless steel wire in automotive components provided a niche growth segment.

Production iron or steel stranded wire and ropes in Spain

In value, 2017-2020, M $ US

Spain's production of iron or steel stranded wire and ropes declined for the second year in a row. In 2020, output was valued at 255.0 million US dollars, down 13.1% from 2019. Over the 2017-2020 period, production fell by 9.9%, with an average annual decline of 3.4%. The peak was recorded in 2018 at 323.9 million US dollars, which also saw the largest increase of 14.5%.

Annual dynamics of production in Spain in value, 2017-2020, M $ US

In kind, 2017-2020, K t

After two years of growth, Spain's production of iron or steel stranded wire and ropes declined. In 2020, output reached 209.8 thousand tonnes, a 5.5% drop from the previous year. The highest volume was in 2019 at 222.0 thousand tonnes, while the largest increase occurred in 2018 at 4.0%.

Annual dynamics of production in Spain in kind, 2017-2020, K t

Exports iron or steel stranded wire and ropes from Spain

Exports in kind, t

Following two years of growth, Spain's exports of iron or steel stranded wire and ropes declined. In 2020, exports totaled 40,378 tonnes, down 29.7% year-over-year. Between 2017 and 2020, exports fell by 15.5%, equivalent to an annualized decline of 5.5%. The peak was in 2019 at 57,418 tonnes, which also saw the largest increase of 10.5%.

Annual dynamics of product's exports from Spain in kind, 2017-2020, t

From 2017 to 2020, Spain's exports of iron or steel stranded wire and ropes were not concentrated on a few key markets. Portugal accounted for 23.7% of exports, Morocco for 12.5%, and France for 12.0%, together making up just 48.2% of total flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Spain in kind, 2017-2020

Exports in value, M $ US

After two years of growth, Spain's exports of iron or steel stranded wire and ropes declined. In 2020, exports were valued at 86.8 million US dollars, a sharp contraction of 40.5% compared to 2019. Between 2017 and 2020, exports decreased by 14%, with an annualized decline of 4.9%. The highest value was in 2019 at 146.0 million US dollars, which also saw the largest increase of 25.7%.

Annual dynamics of product's exports from Spain in value, 2017-2020, M $ US

From 2017 to 2020, Spain's export market in value terms was diverse. Portugal represented 19.3% of exports, France 12.6%, and the United States 11.3%, together accounting for only 43.2% of total flows, with the remaining 56.8% going to many other countries.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Spain in value, 2017-2020

Imports iron or steel stranded wire and ropes to Spain

Imports in kind, t

Spain's imports of iron or steel stranded wire and ropes declined for the second consecutive year. In 2020, imports reached 73,072 tonnes, marking a strong decline of 15.2% from the previous year. Between 2017 and 2020, imports fell by 7%, equivalent to an annualized decline of 2.4%. The peak was in 2018 at 94,333 tonnes, which also saw the largest increase of 20.0%.

Annual dynamics of product's imports to Spain in kind, 2017-2020, t

From 2017 to 2020, Spain's import sources in volume terms were widely distributed. Romania accounted for 14.0% of imports, South Korea for 13.9%, and Italy for 9.9%, together making up only 37.9% of total flows, with the remaining 62.1% coming from many other countries.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Spain in kind, 2017-2020

Imports in value, M $ US

Spain's imports of iron or steel stranded wire and ropes declined for the second year in a row. In 2020, imports were valued at 176.0 million US dollars, down 21.0% from the previous year. Over the 2017-2020 period, imports decreased by 6.2%, with an average annual decline of 2.1%. The highest value was in 2018 at 238.8 million US dollars, which also saw the largest increase of 27.4%.

Annual dynamics of product's imports to Spain in value, 2017-2020, M $ US

From 2017 to 2020, Spain's import market in value terms was broad. Romania represented 13.5% of imports, South Korea 12.7%, and France 11.1%, together accounting for only 37.3% of total flows, with the remaining 62.7% sourced from many other countries.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Spain in value, 2017-2020