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India - Forged Bars Of Stainless Steel - Market Analysis, Forecast, Size, Trends And Insights
Report Update: Apr 1, 2024

India - Forged Bars Of Stainless Steel - Market Analysis, Forecast, Size, Trends And Insights

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Article Publishing Date: Jun 26, 2023

Forged Stainless Steel Bar Price in India Drops Slightly to $3,450 per Ton

India Forged Stainless Steel Bar Export Price in February 2023

In February 2023, the forged stainless steel bar price stood at $3,450 per ton (FOB, India), waning by -4.1% against the previous month. In general, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in January 2023 an increase of 5.8% m-o-m. The export price peaked at $3,989 per ton in July 2022; however, from August 2022 to February 2023, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In February 2023, the country with the highest price was Germany ($4,363 per ton), while the average price for exports to Saudi Arabia ($1,583 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 Belgium (+0.1%), while the prices for the other major destinations experienced a decline.

COUNTRYExport Price of Forged Stainless Steel Bar in India (USD per ton)
Feb 2022Mar 2022Apr 2022May 2022Jun 2022Jul 2022Aug 2022Sep 2022Oct 2022Nov 2022Dec 2022Jan 2023Feb 2023
Germany4,4284,0265,0424,7024,1764,5164,1633,7783,9844,2894,4194,6734,363
Belgium4,1774,2294,7555,1525,5724,8124,3953,7394,2164,1514,6264,7274,247
Netherlands3,8933,7763,6693,8503,8674,5153,9163,6893,5563,4593,9624,1093,841
Spain4,0973,8824,4194,7434,3474,4604,3164,1404,1134,0653,9754,0553,839
Poland3,7533,6463,7363,5283,6973,8143,9363,6663,2173,1793,3353,4313,566
Italy3,7793,7083,7633,8343,8983,7943,9353,7203,5043,5873,6553,6113,491
Russia3,4422,5433,2623,3833,4883,3413,3663,5382,8443,1983,2523,4983,324
South Korea3,6083,5803,5903,6343,0723,7783,6903,5273,2913,2533,1883,2973,090
Turkey3,3653,7363,7633,4583,7433,6773,5983,4323,4503,1313,1253,1282,869
Malaysia3,2523,2963,3893,1623,2133,2653,2543,2922,9202,8482,6952,7302,765
Indonesia3,0073,3333,4933,4833,1563,0673,3146,5012,5432,5052,5812,6702,696
Brazil3,0533,6173,3073,6633,4063,4123,2173,1722,9762,7822,8212,8872,584
Saudi Arabia3,4187,5584,5045,5513,9474,0173,9222,9833,7523,4243,7617,2741,583
Average3,7313,7723,8543,8993,9163,9893,8403,5603,4553,4253,4023,5983,450

India Forged Stainless Steel Bar Exports

In February 2023, the amount of forged bars of stainless steel exported from India contracted slightly to 4.7K tons, dropping by -2.6% against January 2023 figures. Over the period under review, exports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in June 2022 with an increase of 32% month-to-month.

In value terms, forged stainless steel bar exports shrank to $16M (IndexBox estimates) in February 2023. Overall, exports showed a relatively flat trend pattern. The growth pace was the most rapid in July 2022 with an increase of 34% m-o-m. As a result, the exports attained the peak of $25M. From August 2022 to February 2023, the growth of the exports remained at a somewhat lower figure.

India Forged Stainless Steel Bar Exports by Country

The Netherlands (635 tons), Germany (503 tons) and Italy (464 tons) were the main destinations of forged stainless steel bar exports from India, with a combined 34% share of total exports. South Korea, Turkey, Belgium, Poland, Brazil, Indonesia, Russia, Saudi Arabia, Malaysia and Spain lagged somewhat behind, together comprising a further 48%.

From February 2022 to February 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Saudi Arabia (with a CAGR of +23.0%), while the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($2.4M), Germany ($2.2M) and Italy ($1.6M) appeared to be the largest markets for forged stainless steel bar exported from India worldwide, together comprising 38% of total exports. These countries were followed by Belgium, South Korea, Turkey, Poland, Russia, Brazil, Indonesia, Spain, Malaysia and Saudi Arabia, which together accounted for a further 44%.

Among the main countries of destination, Saudi Arabia, with a CAGR of +15.4%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the market for forged stainless steel bar in India. 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 24106450 - Forged bars, of stainless steel

Country coverage:

  • India

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in India
  • 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. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. MARKET STRUCTURE
    3. TRADE BALANCE
    4. PER CAPITA CONSUMPTION
    5. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption In 2012-2023
    5. Imports, In Physical Terms, By Country, 2012–2023
    6. Imports, In Value Terms, By Country, 2012–2023
    7. Import Prices, By Country Of Origin, 2012–2023
    8. Exports, In Physical Terms, By Country, 2012–2023
    9. Exports, In Value Terms, By Country, 2012–2023
    10. Export Prices, By Country Of Destination, 2012–2023

  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
    4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
    5. Trade Balance, In Physical Terms, 2012-2023
    6. Trade Balance, In Value Terms, 2012-2023
    7. Per Capita Consumption, 2012-2023
    8. Market Volume Forecast to 2030
    9. Market Value Forecast to 2030
    10. Products: Market Size And Growth, By Type
    11. Products: Average Per Capita Consumption, By Type
    12. Products: Exports And Growth, By Type
    13. Products: Export Prices And Growth, By Type
    14. Production Volume And Growth
    15. Exports And Growth
    16. Export Prices And Growth
    17. Market Size And Growth
    18. Per Capita Consumption
    19. Imports And Growth
    20. Import Prices
    21. Production, In Physical Terms, 2012–2023
    22. Production, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, 2012–2023
    24. Imports, In Value Terms, 2012–2023
    25. Imports, In Physical Terms, By Country, 2023
    26. Imports, In Physical Terms, By Country, 2012–2023
    27. Imports, In Value Terms, By Country, 2012–2023
    28. Import Prices, By Country Of Origin, 2012–2023
    29. Exports, In Physical Terms, 2012–2023
    30. Exports, In Value Terms, 2012–2023
    31. Exports, In Physical Terms, By Country, 2023
    32. Exports, In Physical Terms, By Country, 2012–2023
    33. Exports, In Value Terms, By Country, 2012–2023
    34. Export Prices, By Country Of Destination, 2012–2023

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