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China - Base Metal Cored Wire For Electric Arc-Welding - Market Analysis, Forecast, Size, Trends And Insights
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Article Publishing Date: Apr 17, 2023
China's Core Arc-Welding Wire Exports Decrease by 30% in February 2023, Averaging $14M
China Cored Arc-Welding Wire Exports
In February 2023, the amount of cored arc-welding wire exported from China dropped significantly to 8.4K tons, falling by -27.8% compared with the month before. Overall, total exports indicated a moderate increase from February 2022 to February 2023: its volume increased at an average monthly rate of +3.1% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on February 2023 figures, exports decreased by -27.8% against January 2023 indices. The most prominent rate of growth was recorded in March 2022 when exports increased by 70% against the previous month. Over the period under review, the exports attained the peak figure at 12K tons in January 2023, and then reduced sharply in the following month.
In value terms, cored arc-welding wire exports fell notably to $14M (IndexBox estimates) in February 2023. In general, total exports indicated a mild increase from February 2022 to February 2023: its value increased at an average monthly rate of +1.8% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on February 2023 figures, exports decreased by -33.9% against December 2022 indices. The pace of growth appeared the most rapid in March 2022 with an increase of 67% against the previous month. The exports peaked at 23K tons in July 2022; however, from August 2022 to February 2023, the exports stood at a somewhat lower figure.
| COUNTRY | Feb 2022 | Mar 2022 | Apr 2022 | May 2022 | Jun 2022 | Jul 2022 | Aug 2022 | Sep 2022 | Oct 2022 | Nov 2022 | Dec 2022 | Jan 2023 | Feb 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Million USD | |||||||||||||
| Brazil | 0.8 | 0.5 | 0.6 | 0.5 | 0.6 | 0.9 | 1.0 | 1.0 | 0.9 | 0.9 | 0.6 | 0.5 | 0.7 |
| Saudi Arabia | 0.1 | 0.4 | 0.5 | 0.4 | 0.2 | 0.4 | nan | 0.4 | 0.5 | 0.2 | 0.1 | 0.4 | 0.5 |
| Mexico | 0.4 | 1.1 | 0.8 | 0.7 | 1.2 | 0.8 | 0.6 | 0.5 | 0.8 | 0.4 | 0.5 | 1.3 | 0.6 |
| Egypt | 0.1 | 0.2 | 0.6 | 0.2 | 0.2 | 2.0 | 0.6 | 0.7 | 0.8 | 0.8 | 1.2 | 0.6 | 0.3 |
| United Arab Emirates | 0.4 | 0.7 | 0.8 | 0.6 | 0.8 | 0.7 | 1.1 | 0.5 | 0.5 | 1.1 | 1.1 | 0.9 | 0.7 |
| Philippines | 0.1 | 0.4 | 0.2 | 0.6 | 0.5 | 0.6 | 0.7 | 1.3 | 0.6 | 0.9 | 0.5 | 0.6 | 0.4 |
| Indonesia | 1.8 | 2.0 | 0.9 | 0.8 | 1.3 | 1.2 | 1.7 | 1.5 | 1.3 | 1.7 | 1.8 | 2.3 | 1.7 |
| India | 0.2 | 0.4 | 0.9 | 0.7 | 0.5 | 0.7 | 1.1 | 0.7 | 1.1 | 0.7 | 0.6 | 0.6 | 0.7 |
| Malaysia | 0.4 | 0.5 | 0.6 | 0.8 | 0.8 | 0.9 | 0.5 | 1.0 | 0.6 | 0.4 | 0.8 | 0.6 | 0.7 |
| Vietnam | 0.8 | 1.3 | 1.5 | 2.3 | 1.4 | 1.3 | 0.8 | 1.3 | 1.5 | 1.6 | 0.8 | 0.8 | 0.6 |
| Thailand | 0.8 | 1.1 | 1.1 | 0.9 | 0.6 | 0.9 | 0.8 | 1.0 | 0.7 | 0.9 | 1.1 | 0.9 | 0.6 |
| Japan | 0.8 | 0.9 | 0.8 | 0.6 | 0.7 | 0.8 | 0.8 | 0.8 | 0.9 | 0.8 | 0.9 | 0.9 | 0.9 |
| South Korea | 0.4 | 1.0 | 1.0 | 1.5 | 0.9 | 0.9 | 0.9 | 0.7 | 0.7 | 0.7 | 1.1 | 1.2 | 1.0 |
Exports by Country
Indonesia (1.2K tons), South Korea (598 tons) and the United Arab Emirates (592 tons) were the main destinations of cored arc-welding wire exports from China, with a combined 28% share of total exports. Mexico, Japan, Brazil, Vietnam, Malaysia, Thailand, Saudi Arabia, India, Egypt and the Philippines lagged somewhat behind, together comprising a further 49%.
From February 2022 to February 2023, the biggest increases were in Egypt (with a CAGR of +27.4%), while shipments for the other leaders experienced more modest paces of growth.
In value terms, the largest markets for cored arc-welding wire exported from China were Indonesia ($1.7M), South Korea ($1M) and Japan ($860K), together comprising 25% of total exports. These countries were followed by Brazil, Malaysia, India, the United Arab Emirates, Mexico, Vietnam, Thailand, Saudi Arabia, the Philippines and Egypt, which together accounted for a further 40%.
Saudi Arabia, with a CAGR of +14.0%, recorded the highest growth rate of 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.
Export Prices by Country
In February 2023, the cored arc-welding wire price stood at $1,699 per ton (FOB, China), waning by -2.4% against the previous month. Over the period under review, the export price showed a mild shrinkage. The pace of growth was the most pronounced in December 2022 when the average export price increased by 18% against the previous month. Over the period under review, the average export prices reached the maximum at $2,167 per ton in July 2022; however, from August 2022 to February 2023, the export prices failed to regain momentum.
There were significant differences in the average prices for the major foreign markets. In February 2023, the country with the highest price was India ($2,265 per ton), while the average price for exports to the United Arab Emirates ($1,104 per ton) was amongst the lowest.
From February 2022 to February 2023, the most notable rate of growth in terms of prices was recorded for supplies to India (+3.0%), while the prices for the other major destinations experienced more modest paces of growth.
This report provides an in-depth analysis of the cored arc-welding wire market in China. 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.
Product coverage:
• Prodcom 25931530 - Base metal cored wire for electric arc-welding (excluding wire and rods of cored solder, the solder consisting of an alloy containing 2 % or more by weight, of any one precious metal)
Country coverage:
Data coverage:
• Market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Trade (exports and imports) in China
• Export and import prices
• Market trends, drivers and restraints
• Key market players and their profiles
Reasons to buy this report:
• Take advantage of the latest data
• Find deeper insights into current market developments
• Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. How to prepare your business for global expansion
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.
1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
2.1
KEY FINDINGS
2.2
MARKET TRENDS
This Chapter is Available Only for the Professional Edition
PRO
3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
3.1
MARKET SIZE
3.2
MARKET STRUCTURE
3.3
TRADE BALANCE
3.4
PER CAPITA CONSUMPTION
3.5
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
7.1
PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
8.1
IMPORTS FROM 2012–2022
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
9.1
EXPORTS FROM 2012–2022
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
LIST OF TABLES
Table 1:
Key Findings In 2022
Table 2:
Market Volume, In Physical Terms, 2012–2022
Table 3:
Market Value, 2012–2022
Table 4:
Per Capita Consumption In 2012-2022
Table 5:
Imports, In Physical Terms, By Country, 2012–2022
Table 6:
Imports, In Value Terms, By Country, 2012–2022
Table 7:
Import Prices, By Country Of Origin, 2012–2022
Table 8:
Exports, In Physical Terms, By Country, 2012–2022
Table 9:
Exports, In Value Terms, By Country, 2012–2022
Table 10:
Export Prices, By Country Of Destination, 2012–2022
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2012–2022
Figure 2:
Market Value, 2012–2022
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2022
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2022
Figure 5:
Trade Balance, In Physical Terms, 2012-2022
Figure 6:
Trade Balance, In Value Terms, 2012-2022
Figure 7:
Per Capita Consumption, 2012-2022
Figure 8:
Market Volume Forecast to 2030
Figure 9:
Market Value Forecast to 2030
Figure 10:
Products: Market Size And Growth, By Type
Figure 11:
Products: Average Per Capita Consumption, By Type
Figure 12:
Products: Exports And Growth, By Type
Figure 13:
Products: Export Prices And Growth, By Type
Figure 14:
Production Volume And Growth
Figure 15:
Exports And Growth
Figure 16:
Export Prices And Growth
Figure 17:
Market Size And Growth
Figure 18:
Per Capita Consumption
Figure 19:
Imports And Growth
Figure 20:
Import Prices
Figure 21:
Production, In Physical Terms, 2012–2022
Figure 22:
Production, In Value Terms, 2012–2022
Figure 23:
Imports, In Physical Terms, 2012–2022
Figure 24:
Imports, In Value Terms, 2012–2022
Figure 25:
Imports, In Physical Terms, By Country, 2022
Figure 26:
Imports, In Physical Terms, By Country, 2012–2022
Figure 27:
Imports, In Value Terms, By Country, 2012–2022
Figure 28:
Import Prices, By Country Of Origin, 2012–2022
Figure 29:
Exports, In Physical Terms, 2012–2022
Figure 30:
Exports, In Value Terms, 2012–2022
Figure 31:
Exports, In Physical Terms, By Country, 2022
Figure 32:
Exports, In Physical Terms, By Country, 2012–2022
Figure 33:
Exports, In Value Terms, By Country, 2012–2022
Figure 34:
Export Prices, By Country Of Destination, 2012–2022
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