In 2023, China dominated the global export market for wire of silico-manganese steel, showing a 1.82% increase from the previous year, marking a potent position in both current and forecasted datasets. South Korea experienced the highest year-on-year growth at 6.37%, signaling a strengthening presence in the market. Conversely, Japan and Switzerland faced notable declines of -8.74% and -29.2% respectively. The five-year compound annual growth rate (CAGR) provides a stable perspective, highlighting Canada's notable 9.37% growth as an outlier amidst generally moderate changes.
Future trends to watch include the potential expansion of emerging markets like South Korea and the strategic importance of retaining competitive advantages for historically dominant countries such as China. Volatility in global trade policies and supply chain dynamics may continue to influence these trends significantly.
Top countries in Export of Wire of Silico-Manganese Steel by Country
| # | 10 Countries | US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 281,730,000 | 2023 | +1.81% | +1.82% | View data |
| 2 | 2 Czech Republic | 120,790,000 | 2023 | +2.57% | +0.79% | View data |
| 3 | 3 South Korea | 85,960,000 | 2023 | +5.96% | +6.37% | View data |
| 4 | 4 Italy | 30,595,000 | 2023 | +3.96% | +0.79% | View data |
| 5 | 5 Belgium | 25,825,000 | 2023 | +1.87% | +2.63% | View data |
| 6 | 6 Malaysia | 19,413,000 | 2023 | +6.63% | +1.63% | View data |
| 7 | 7 United States | 18,352,000 | 2023 | -0.78% | +1.1% | View data |
| 8 | 8 Germany | 15,261,000 | 2023 | +3.46% | +1.81% | View data |
| 9 | 9 Mexico | 15,088,000 | 2023 | +4.71% | +2.59% | View data |
| 10 | 10 Poland | 13,495,000 | 2023 | +4.7% | +3.03% | View data |
