Non-alloy steel wire market in Spain

Earlier Report Observations

The Spanish non-alloy steel wire market volume declined from 355.3 thousand tons in 2018 to 322.7 thousand tons in 2019, before recovering to 346.0 thousand tons in 2020. The global trade halt caused by the COVID-19 pandemic significantly reduced Spanish steel exports, which increased the domestic availability of wire and contributed to the market volume growth despite lower production and imports.

After 2020, the market encountered challenges such as persistently high energy costs and price volatility, which restrained steel consumption in 2022. By 2024, the market volume expanded sharply to 438.7 thousand tons. This growth was driven by rising demand from the automotive industry and infrastructure projects like bridges and railways, alongside technological advances in corrosion-resistant coatings and smart cables.

Production non-alloy steel wire in Spain

In value, 2017-2020, M $ US

Spain's production of non-alloy steel wire has declined for the second year in a row. In 2020, output was valued at 303.3 million US dollars, marking a significant 14.2% drop compared to the previous year. Looking at the period from 2017 to 2020, production decreased by 7.6%, which translates to an annualized rate of 2.6%. The highest value was recorded in 2018 at 387.5 million US dollars, with the largest increase that year reaching 18.1%.

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

In kind, 2017-2020, K t

Spain's production volume of non-alloy steel wire has fallen for the second consecutive year. In 2020, the country produced 379.0 thousand tonnes, down 8.8% from the year before. Over the 2017-2020 period, production decreased by 7.2%, with a compound annual growth rate of 2.5%. The peak was in 2018 at 428.2 thousand tonnes, when the largest increase of 4.9% was recorded.

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

Exports non-alloy steel wire from Spain

Exports in kind, K t

Following two years of growth, Spain's exports of non-alloy steel wire declined. In 2020, exports stood at 121.3 thousand tonnes, a 43.6% decrease from the previous year. From 2017 to 2020, exports fell by 32.2%, equivalent to an annualized rate of 12.1%. The highest volume was in 2019 at 214.9 thousand tonnes, with the largest increase that year of 14.5%.

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

Between 2017 and 2020, France, Portugal, and the United Kingdom were the main markets for Spain's exports in kind. France accounted for 35.4% of exports, Portugal for 8.9%, and the United Kingdom for 7.6%. Together, these three countries represented 51.9% 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, M $ US

After two years of gains, Spain's non-alloy steel wire exports declined. In 2020, exports were valued at 108.1 million US dollars, down 42.3% from 2019. Over the 2017-2020 period, exports decreased by 31%, with an annualized rate of 11.6%. The peak value was in 2019 at 187.2 million US dollars, while the largest increase occurred in 2018 at 18.3%.

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

The structure of Spain's exports in value terms from 2017 to 2020 was diversified. France held 31.8% of export value, Portugal 9.9%, and the United Kingdom 7.2%. Combined, these three countries accounted for 48.9% of total flows, with no single country dominating the market.

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

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

Imports non-alloy steel wire to Spain

Imports in kind, K t

After two years of growth, Spain's imports of non-alloy steel wire declined. In 2020, imports amounted to 88.3 thousand tonnes, a 27.6% drop from the previous year. From 2017 to 2020, imports decreased by 11.4%, equating to an annualized rate of 3.9%. The highest volume was in 2019 at 121.9 thousand tonnes, with the largest increase in 2018 at 15.2%.

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

From 2017 to 2020, Spain's import structure in kind was balanced rather than concentrated. Portugal accounted for 21.5% of imports, Turkey for 19.3%, and China for 9.0%. Together, these three countries represented 49.8% of total flows, while many other countries made up the remaining 50.2%.

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 non-alloy steel wire have declined for the second year in a row. In 2020, imports were valued at 92.6 million US dollars, reflecting a sharp 30.3% decrease from the previous year. Over the 2017-2020 period, imports fell by 17.4%, with an annualized rate of 6.2%. The highest value was in 2018 at 149.4 million US dollars, when the largest increase of 33.2% was recorded.

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

The structure of Spain's imports in value terms from 2017 to 2020 was diversified. Portugal accounted for 20.2% of import value, Turkey for 14.0%, and Germany for 9.9%. Together, these three countries represented 44.1% of total flows, with no country holding a clearly dominant position.

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

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