Iron or steel wire articles market in Spain

Earlier Report Observations

The market for iron or steel wire articles in Spain showed varied movement between 2018 and 2020. After a slight dip to 18 942 tons in 2019, volume recovered to 20 576 tons in 2020. That year, the COVID-19 pandemic caused supply chain disruptions and labor shortages across the steel wire manufacturing value chain, while a significant drop in exports of iron and steel products also influenced domestic availability.

A major expansion followed in 2021, with market volume surging 66% to reach 34 227 tons. This growth was directly driven by a strong increase in production and revenue within Spain's foundry sector, where output of iron and steel rose, and the sector's capacity utilization rate climbed from 71% to 76%.

The market contracted to 27 046 tons in 2022, pressured by several concurrent challenges. Domestic wire rod production fell by 27.5% to its lowest historical level, while strikes in the metal sector halted production at key industrial centers. Soaring and volatile energy prices significantly raised manufacturing costs, particularly for electric arc furnace-based steelmakers prevalent in Spain. New environmental regulations, including the EU's Carbon Border Adjustment Mechanism for iron and steel imports, also prompted necessary but costly investments in greener production technologies. By 2024, market volume had decreased further to 23 675 tons.

Production iron or steel wire articles in Spain

In value, 2017-2020, K $ US

Spain's production of iron or steel wire articles has grown for the third year in a row. In 2020, output was valued at 60 585 thousand US dollars, showing a slight increase of 0.9% compared to 2019. From 2017 to 2020, production rose by 17.9%, which translates to an average annual growth rate of 5.6%.

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

In kind, 2017-2020, t

Spain's production volume of iron or steel wire articles has increased for the third consecutive year. In 2020, Spain produced 17 708 tonnes, marking a significant rise of 39.6% year-over-year. Over the period from 2017 to 2020, production grew by 49.3%, with a compound annual growth rate of 14.3%.

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

Exports iron or steel wire articles from Spain

Exports in kind, t

In 2020, Spain's exports of iron or steel wire articles amounted to 9 710 tonnes, reflecting a notable decline of 15.6% from the previous year. From 2017 to 2020, exports decreased by 12%, averaging an annual drop of 4.2%. The highest export volume was recorded in 2019 at 11 505 tonnes, which also saw the largest increase of 15.3% that year.

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

From 2017 to 2020, France, Portugal, and Morocco were the leading destinations for Spain's exports of iron or steel wire articles in volume terms. France accounted for 36.8% of exports, Portugal for 11.9%, and Morocco for 11.0%, together making up 59.8% of total export 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, K $ US

Spain's export value of iron or steel wire articles has fallen for the second year in a row. In 2020, exports totaled 33 234 thousand US dollars, indicating a small decrease of 0.9% compared to 2019. Over the 2017-2020 period, exports increased by 5.1%, with a compound annual growth rate of 1.7%. The peak value was in 2018 at 34 387 thousand US dollars, which also experienced the largest increase of 8.7%. In contrast, 2019 saw the largest decline of 2.5%.

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

During 2017-2020, France, Germany, and Portugal were the key partners for Spain's exports of iron or steel wire articles in value terms. France represented 39.1% of exports, Germany 11.1%, and Portugal 9.9%, collectively accounting for 60.1% of total export flows.

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 wire articles to Spain

Imports in kind, t

Spain's import volume of iron or steel wire articles has decreased for the second consecutive year. In 2020, imports reached 12 578 tonnes, showing a sharp drop of 29.2% from the previous year. Between 2017 and 2020, imports fell by 14.4%, with an average annual decline of 5.1%. The highest import volume was in 2018 at 18 771 tonnes, which also recorded the largest increase of 27.7% that year.

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

From 2017 to 2020, Spain imported iron or steel wire articles from various markets, with the top destinations—China, Belgium, and Czechia—together representing only 47.6% of total imports in volume terms.

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, K $ US

Spain's import value of iron or steel wire articles has risen for the third year in a row. In 2020, imports were valued at 60 585 thousand US dollars, reflecting a modest increase of 4.3% compared to 2019. Over the 2017-2020 period, imports grew by 35.4%, averaging an annual growth rate of 10.6%.

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

In 2017-2020, three main markets—China, France, and Germany—together accounted for 54.3% of Spain's total import value of iron or steel wire articles.

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

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