UK's Stranded Wire Market to See Slight Growth with CAGR of +1.5% from 2024-2035 - News and Statistics - IndexBox

Mar 26, 2025

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IndexBox has just published a new report: United Kingdom - Stranded Wire, Ropes And Cables - Market Analysis, Forecast, Size, Trends and Insights.

The UK market for stranded wire is anticipated to experience a slight increase in performance, with a projected CAGR of +1.5% in volume and +3.0% in value from 2024 to 2035. Rising demand is driving this upward trend, positioning the market for growth in the coming years.

Driven by rising demand for stranded wire in the UK, 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 +1.5% for the period from 2024 to 2035, which is projected to bring the market volume to 114K tons by the end of 2035.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.0% for the period from 2024 to 2035, which is projected to bring the market value to $619M (in nominal wholesale prices) by the end of 2035.

In 2024, consumption of stranded wire, ropes and cables increased by 12% to 97K tons, rising for the second year in a row after three years of decline. Overall, consumption, however, faced a abrupt slump. Stranded wire consumption peaked at 407K tons in 2013; however, from 2014 to 2024, consumption remained at a lower figure.

The size of the stranded wire market in the UK expanded rapidly to $445M in 2024, increasing by 7.1% 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). In general, consumption, however, showed a abrupt slump. Stranded wire consumption peaked at $2B in 2013; however, from 2014 to 2024, consumption remained at a lower figure.

In 2024, the amount of stranded wire, ropes and cables produced in the UK dropped slightly to 57K tons, standing approx. at 2023. Over the period under review, production saw a deep setback. The pace of growth appeared the most rapid in 2015 when the production volume increased by 11% against the previous year. Over the period under review, production reached the maximum volume at 353K tons in 2013; however, from 2014 to 2024, production failed to regain momentum.

In value terms, stranded wire production fell slightly to $324M in 2024 estimated in export price. Overall, production showed a abrupt descent. The pace of growth appeared the most rapid in 2021 with an increase of 21% against the previous year. Over the period under review, production hit record highs at $1.9B in 2013; however, from 2014 to 2024, production failed to regain momentum.

In 2024, stranded wire imports into the UK rose remarkably to 75K tons, with an increase of 6.4% against 2023 figures. Overall, imports, however, recorded a perceptible shrinkage. The most prominent rate of growth was recorded in 2016 when imports increased by 24% against the previous year. Over the period under review, imports hit record highs at 96K tons in 2013; however, from 2014 to 2024, imports failed to regain momentum.

In value terms, stranded wire imports stood at $328M in 2024. Over the period under review, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by 42% against the previous year. Over the period under review, imports hit record highs in 2024 and are likely to see steady growth in the near future.

China (18K tons), Turkey (10K tons) and India (6.7K tons) were the main suppliers of stranded wire imports to the UK, with a combined 50% share of total imports.

From 2013 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +20.0%), while imports for the other leaders experienced mixed trend patterns.

In value terms, Turkey ($77M), China ($40M) and Germany ($30M) constituted the largest stranded wire suppliers to the UK, with a combined 46% share of total imports.

China, with a CAGR of +14.6%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

In 2024, stranded wire, ropes, cables, plaited bands, slings and the like, of iron or steel, not electrically insulated (53K tons) constituted the largest type of stranded wire, ropes and cables supplied to the UK, with a 71% share of total imports. Moreover, stranded wire, ropes, cables, plaited bands, slings and the like, of iron or steel, not electrically insulated exceeded the figures recorded for the second-largest type, aluminium; stranded wire, cables, plaited bands and the like, (not electrically insulated) (11K tons), fivefold.

From 2013 to 2024, the average annual rate of growth in terms of the volume of stranded wire, ropes, cables, plaited bands, slings and the like, of iron or steel, not electrically insulated imports stood at -1.2%. With regard to the other supplied products, the following average annual rates of growth were recorded: aluminium; stranded wire, cables, plaited bands and the like, (not electrically insulated) (-6.6% per year) and copper stranded wire, cables and plaited bands (-0.9% per year).

In value terms, stranded wire, ropes and cables with the largest imports in the UK were stranded wire, ropes, cables, plaited bands, slings and the like, of iron or steel, not electrically insulated ($137M), copper stranded wire, cables and plaited bands ($112M) and aluminium; stranded wire, cables, plaited bands and the like, (not electrically insulated) ($79M).

Aluminium; stranded wire, cables, plaited bands and the like, (not electrically insulated), with a CAGR of +4.2%, recorded the highest growth rate of the value of imports, among the main product categories over the period under review, while purchases for the other products experienced mixed trend patterns.

The average stranded wire import price stood at $4,394 per ton in 2024, waning by -3.9% against the previous year. Over the period under review, import price indicated notable growth from 2013 to 2024: its price increased at an average annual rate of +2.7% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, stranded wire import price decreased by -12.5% against 2022 indices. The pace of growth appeared the most rapid in 2022 when the average import price increased by 29%. As a result, import price attained the peak level of $5,021 per ton. From 2023 to 2024, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplied products. In 2024, the product with the highest price was copper stranded wire, cables and plaited bands ($10,951 per ton), while the price for stranded wire, ropes, cables, plaited bands, slings and the like, of iron or steel, not electrically insulated ($2,587 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by aluminium; stranded wire, cables, plaited bands and the like, (not electrically insulated) (+11.5%), while the prices for the other products experienced mixed trend patterns.

In 2023, the average stranded wire import price amounted to $4,573 per ton, falling by -8.9% against the previous year. In general, import price indicated a notable increase from 2013 to 2023: its price increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, stranded wire import price increased by +82.7% against 2016 indices. The most prominent rate of growth was recorded in 2022 an increase of 29% against the previous year. As a result, import price attained the peak level of $5,021 per ton, and then reduced in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Germany ($7,579 per ton), while the price for Spain ($1,611 per ton) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was attained by Bahrain (+11.9%), while the prices for the other major suppliers experienced more modest paces of growth.

In 2024, overseas shipments of stranded wire, ropes and cables decreased by -15.8% to 35K tons for the first time since 2020, thus ending a three-year rising trend. Over the period under review, exports saw a slight setback. The pace of growth was the most pronounced in 2021 when exports increased by 23%. The exports peaked at 46K tons in 2014; however, from 2015 to 2024, the exports stood at a somewhat lower figure.

In value terms, stranded wire exports fell to $207M in 2024. In general, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 70% against the previous year. Over the period under review, the exports reached the maximum at $249M in 2014; however, from 2015 to 2024, the exports failed to regain momentum.

Norway (4.8K tons), China (4.1K tons) and the Netherlands (3.6K tons) were the main destinations of stranded wire exports from the UK, with a combined 30% share of total exports. The United States, Brazil, Germany, Canada, Ireland, France, Iceland and India lagged somewhat behind, together accounting for a further 36%.

From 2013 to 2023, the biggest increases were recorded for Canada (with a CAGR of +9.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for stranded wire exported from the UK were the United States ($27M), Norway ($21M) and France ($17M), with a combined 27% share of total exports. China, the Netherlands, Germany, Brazil, Canada, Ireland, Iceland and India lagged somewhat behind, together comprising a further 35%.

Canada, with a CAGR of +9.0%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Stranded wire, ropes, cables, plaited bands, slings and the like, of iron or steel, not electrically insulated (34K tons) was the largest type of stranded wire, ropes and cables exported from the UK, accounting for a 97% share of total exports. It was followed by copper stranded wire, cables and plaited bands (1.1K tons), with a 3.2% share of total exports.

From 2013 to 2024, the average annual rate of growth in terms of the volume of stranded wire, ropes, cables, plaited bands, slings and the like, of iron or steel, not electrically insulated exports amounted to -1.5%. With regard to the other exported products, the following average annual rates of growth were recorded: copper stranded wire, cables and plaited bands (-2.8% per year) and aluminium; stranded wire, cables, plaited bands and the like, (not electrically insulated) (-9.3% per year).

In value terms, stranded wire, ropes, cables, plaited bands, slings and the like, of iron or steel, not electrically insulated ($183M) remains the largest type of stranded wire, ropes and cables exported from the UK, comprising 88% of total exports. The second position in the ranking was taken by copper stranded wire, cables and plaited bands ($22M), with a 10% share of total exports.

From 2013 to 2024, the average annual growth rate of the value of stranded wire, ropes, cables, plaited bands, slings and the like, of iron or steel, not electrically insulated exports was relatively modest. With regard to the other exported products, the following average annual rates of growth were recorded: copper stranded wire, cables and plaited bands (-0.9% per year) and aluminium; stranded wire, cables, plaited bands and the like, (not electrically insulated) (+0.4% per year).

In 2024, the average stranded wire export price amounted to $5,854 per ton, growing by 4.5% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 38% against the previous year. As a result, the export price reached the peak level of $5,909 per ton. From 2022 to 2024, the average export prices remained at a lower figure.

Prices varied noticeably by the product type; the product with the highest price was aluminium; stranded wire, cables, plaited bands and the like, (not electrically insulated) ($26,555 per ton), while the average price for exports of stranded wire, ropes, cables, plaited bands, slings and the like, of iron or steel, not electrically insulated ($5,354 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was recorded for the following types: aluminium; stranded wire, cables, plaited bands and the like, (not electrically insulated) (+10.6%), while the prices for the other products experienced more modest paces of growth.

In 2023, the average stranded wire export price amounted to $5,600 per ton, with a decrease of -3.8% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average export price increased by 38% against the previous year. As a result, the export price attained the peak level of $5,909 per ton. From 2022 to 2023, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was France ($10,869 per ton), while the average price for exports to Iceland ($3,384 per ton) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to France (+6.7%), while the prices for the other major destinations experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the stranded wire market in the UK. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

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While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

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A Quick Overview of Market Performance

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Choosing the Best Countries to Establish Your Sustainable Supply Chain

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The Latest Trends and Insights into The Industry

The Largest Import Supplying Countries

The Largest Destinations for Exports

The Largest Producers on The Market and Their Profiles