Steel Wire Market Overview in the USA

The revenue of the steel wire market in the U.S. amounted to $ in 2018, remaining relatively unchanged against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +% from 2013 to 2018; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed over the period under review. The pace of growth was the most pronounced in 2014 with an increase of % against the previous year. Steel wire consumption peaked at $ in 2015; however, from 2016 to 2018, consumption stood at a somewhat lower figure.

In value terms, steel wire production totaled $ in 2018. In general, steel wire production continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of % year-to-year. In that year, steel wire production attained its peak level of $. From 2015 to 2018, steel wire production growth failed to regain its momentum.

In 2018, the steel wire consumption in the U.S. totaled tonnes, approximately mirroring the previous year. Overall, steel wire consumption continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of % year-to-year. In that year, the steel wire consumption reached its peak volume of tonnes. From 2016 to 2018, the growth of the steel wire consumption remained at a lower figure.

The revenue of the steel wire market in the U.S. amounted to $ in 2018, stabilizing at the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +% from 2013 to 2018; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The pace of growth appeared the most rapid in 2014 with an increase of % y-o-y. Steel wire consumption peaked at $ in 2015; however, from 2016 to 2018, consumption failed to regain its momentum.

Driven by rising demand for steel wire in the U.S., the market is expected to start an upward consumption trend over the next decade. The performance of the market is forecast to increase slightly, with an anticipated CAGR of % for the period from 2018 to , which is projected to bring the market volume to kg by the end of .

In 2018, the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports increased moderately ( percentage point) over the period under review.

The U.S. remains a net importer of steel wire; in physical and value terms, imports consistently exceeded exports from 2013 to 2018. In 2018, there was a significant trade deficit of tonnes, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.