Iron or steel stranded wire and ropes market in Sweden

Earlier Report Observations

Between 2020 and 2023, the Swedish market for iron or steel stranded wire and ropes shrank in volume from 26.6 thousand tonnes to 22.7 thousand tonnes. In value terms, however, the market first grew from 32.8 million USD in 2020 to 42.4 million USD in 2021, then fell to 37.5 million USD in 2023.

This dynamics was accompanied by a steady decline in import volumes from a peak of 14.3 thousand tonnes in 2020 to 7.5 thousand tonnes in 2023, while domestic production volume increased from 42.3 thousand tonnes to 45.9 thousand tonnes over the same period. Export volumes remained consistently above 30 thousand tonnes annually, absorbing a large share of domestic output.

Over the broader period from 2018 to 2024, import volumes trended downward, while export volumes showed resilience, indicating a structural adjustment in the market with reduced reliance on foreign supplies and sustained external demand for Swedish-produced wire and ropes.

Production iron or steel stranded wire and ropes in Sweden

In value, 2017-2020, K $ US

Annual dynamics of production in Sweden in value, 2017-2020, K $ US

In kind, 2017-2020, t

Annual dynamics of production in Sweden in kind, 2017-2020, t

Exports iron or steel stranded wire and ropes from Sweden

Exports in kind, t

In 2020, Sweden exported 30,012 tonnes of iron or steel stranded wire and ropes to foreign markets, marking a modest increase of 5.6% compared to 2019. Over the four-year period from 2017 to 2020, exports grew by 6%, with an average annual growth rate of 2.0%. The highest export volume was recorded in 2018 at 31,044 tonnes, which represented a significant jump of 9.6% from the previous year. However, exports saw their largest decline in 2019, dropping by 8.5%.

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

From 2017 to 2020, Norway, Finland, and Denmark were Sweden's key export partners for iron or steel stranded wire and ropes in terms of volume. Norway accounted for 34.1% of exports, Finland for 19.5%, and Denmark for 12.8%. Together, these three countries represented 66.4% of Sweden's total export flows for this product.

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

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

Exports in value, K $ US

Sweden's exports of iron or steel stranded wire and ropes in value terms declined for the second year in a row. In 2020, exports amounted to 43,472 thousand US dollars, a decrease of 1.2% from the previous year. Over the 2017-2020 period, exports increased by 3.1%, with an average annual growth rate of 1.0%. The peak value was reached in 2018 at 48,217 thousand US dollars, which was a substantial increase of 14.3% from 2017. The largest decline occurred in 2019, with a drop of 8.7%.

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

Between 2017 and 2020, Norway, Finland, and Denmark were the primary buyers of iron or steel stranded wire and ropes from Sweden in value terms. Norway led with 28.7% of exports, followed by Finland at 13.9%, and Denmark at 9.9%. Collectively, these three countries accounted for 52.4% of Sweden's total export value for this product.

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

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

Imports iron or steel stranded wire and ropes to Sweden

Imports in kind, t

Sweden's imports of iron or steel stranded wire and ropes in volume terms increased for the third consecutive year. In 2020, import volume reached 14,323 tonnes, showing a sharp rise of 43.4% compared to the previous year. From 2017 to 2020, imports surged by 76.5%, translating to an average annual growth rate of 20.9%.

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

During the 2017-2020 period, Sweden's import sources for iron or steel stranded wire and ropes in volume terms were highly diversified. Russia was the largest supplier with 10.9% of imports, followed by Turkey and Finland, each at 9.7%. Together, these three countries made up only 30.3% of total import flows, while the remaining 69.7% came from a wide range of other nations.

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

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

Imports in value, K $ US

In 2020, Sweden's imports of iron or steel stranded wire and ropes in value terms amounted to 36,130 thousand US dollars, reflecting a significant increase of 29.5% year-over-year. Between 2017 and 2020, imports grew by 29.6%, with an average annual rate of 9.0%. The largest decline was recorded in 2019, with a drop of 8.3%.

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

From 2017 to 2020, Germany, Japan, and Denmark were the top suppliers of iron or steel stranded wire and ropes to Sweden in value terms. Germany accounted for 15.4% of imports, Japan for 7.9%, and Denmark for 7.5%. However, their combined share was limited to 30.9% of total import value, indicating a highly diversified supplier base for Sweden.

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

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