Global Hot-Rolled Steel Products Market 2024

Hot-Rolled Steel Products Market Size

The global hot-rolled steel products market was estimated at $X in 2023, surging by X% against the previous year. Overall, the total consumption indicated moderate growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2021 indices. As a result, consumption reached the peak level of $X. From 2022 to 2023, the growth of the global market failed to regain momentum.

Hot-Rolled Steel Products Production

In value terms, hot-rolled steel products production reached $X in 2023 estimated in export price. In general, the total production indicated a temperate expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2021 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2022 to 2023, global production growth failed to regain momentum.

Hot-Rolled Steel Products Exports

Exports

In 2023, global exports of flat-rolled products of iron or steel (not further worked than hot-rolled) rose notably to X tons, with an increase of X% compared with the previous year's figure. The total export volume increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. Over the period under review, the global exports attained the peak figure at X tons in 2017; however, from 2018 to 2023, the exports failed to regain momentum.

In value terms, hot-rolled steel products exports dropped to $X in 2023. Overall, total exports indicated a pronounced expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, the global exports reached the maximum at $X in 2022, and then declined in the following year.

Exports by Country

In 2023, China (X tons), distantly followed by Japan (X tons) and South Korea (X tons) were the main exporters of flat-rolled products of iron or steel (not further worked than hot-rolled), together committing X% of total exports. The following exporters - Belgium (X tons), Russia (X tons), Germany (X tons), India (X tons), Taiwan (Chinese) (X tons), France (X tons), the Netherlands (X tons), Italy (X tons), Indonesia (X tons) and the United States (X tons) - together made up X% of total exports.

From 2012 to 2023, the biggest increases were recorded for Indonesia (with a CAGR of X%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, the largest hot-rolled steel products supplying countries worldwide were China ($X), Japan ($X) and South Korea ($X), with a combined X% share of global exports. Belgium, Germany, Indonesia, Russia, Taiwan (Chinese), France, the United States, India, Italy and the Netherlands lagged somewhat behind, together accounting for a further X%.

Indonesia, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the average hot-rolled steel products export price amounted to $X per ton, shrinking by X% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the average export price increased by X%. The global export price peaked at $X per ton in 2022, and then shrank dramatically in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the United States (X%), while the other global leaders experienced more modest paces of growth.

Hot-Rolled Steel Products Imports

Imports

In 2023, approx. X tons of flat-rolled products of iron or steel (not further worked than hot-rolled) were imported worldwide; picking up by X% compared with the previous year's figure. Overall, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, global imports reached the peak figure at X tons in 2016; however, from 2017 to 2023, imports stood at a somewhat lower figure.

In value terms, hot-rolled steel products imports fell to $X in 2023. In general, total imports indicated a slight expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. Global imports peaked at $X in 2022, and then reduced in the following year.

Imports by Country

The countries with the highest levels of hot-rolled steel products imports in 2023 were Vietnam (X tons), Italy (X tons), Turkey (X tons), South Korea (X tons), Germany (X tons), the United States (X tons), Thailand (X tons), Spain (X tons), India (X tons), Poland (X tons), Mexico (X tons) and France (X tons), together recording X% of total import. China (X tons) followed a long way behind the leaders.

From 2012 to 2023, the biggest increases were recorded for Italy (with a CAGR of X%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), Italy ($X) and Germany ($X) were the countries with the highest levels of imports in 2023, with a combined X% share of global imports.

Vietnam, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

The average hot-rolled steel products import price stood at $X per ton in 2023, shrinking by X% against the previous year. In general, import price indicated modest growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when the average import price increased by X%. Global import price peaked at $X per ton in 2022, and then reduced in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was France ($X per ton), while India ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Vietnam (X%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform