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

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Article Publishing Date: Jan 22, 2024

Thailand Sees Sharp Increase in November 2023 Import of Stainless Steel Bars, Valued at $1.8M

Thailand Forged Stainless Steel Bar Imports

In November 2023, approximately 752 tons of forged bars of stainless steel were imported into Thailand; increasing by 68% on the month before. Over the period under review, total imports indicated modest growth from November 2022 to November 2023: its volume increased at an average monthly rate of +1.7% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on November 2023 figures, imports increased by +96.3% against September 2023 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, forged stainless steel bar imports skyrocketed to $1.8M (IndexBox estimates) in November 2023. Overall, total imports indicated a modest increase from November 2022 to November 2023: its value increased at an average monthly rate of +1.6% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on November 2023 figures, imports increased by +29.2% against October 2023 indices. The most prominent rate of growth was recorded in May 2023 when imports increased by 84% month-to-month. As a result, imports attained the peak of $2.4M. From June 2023 to November 2023, the growth of imports remained at a lower figure. Thailand Forged Stainless Steel Bar Imports By Country (Thousand USD)

COUNTRY	Import Value of Forged Stainless Steel Bar in Thailand (thousand USD)
COUNTRY	Nov 2022	Dec 2022	Jan 2023	Feb 2023	Mar 2023	Apr 2023	May 2023	Jun 2023	Jul 2023	Aug 2023	Sep 2023	Oct 2023	Nov 2023
Japan	423	481	496	341	631	460	671	824	440	466	569	481	696
China	423	391	329	337	315	277	253	201	235	360	154	275	598
Italy	55.7	50.0	60.5	85.6	39.3	17.8	77.3	136	27.6	108	18.4	36.8	229
Taiwan (Chinese)	51.0	123	109	123	84.4	58.6	179	235	64.6	90.0	293	158	90.6
Vietnam	44.2	65.1	90.4	134	71.7	112	158	48.4	85.6	96.2	69.2	97.6	55.1
India	60.0	97.5	343	127	138	94.5	99.4	50.7	20.4	79.2	124	78.0	13.1
South Korea	29.5	7.7	N/A	59.9	171	36.1	59.4	120	94.6	78.2	79.9	21.6	3.0
Others	430	426	254	159	647	255	918	228	159	332	390	276	154
Total	1,517	1,642	1,681	1,365	2,098	1,311	2,415	1,843	1,126	1,610	1,697	1,423	1,839

Imports by Country

In November 2023, China (511 tons) constituted the largest forged stainless steel bar supplier to Thailand, with a 68% share of total imports. Moreover, forged stainless steel bar imports from China exceeded the figures recorded by the second-largest supplier, Japan (164 tons), threefold. The third position in this ranking was held by Italy (29 tons), with a 3.8% share.

From November 2022 to November 2023, the average monthly growth rate of volume from China was relatively modest. The remaining supplying countries recorded the following average monthly rates of imports growth: Japan (+6.7% per month) and Italy (+8.4% per month).

In value terms, the largest forged stainless steel bar suppliers to Thailand were Japan ($696K), China ($598K) and Italy ($229K), with a combined 83% share of total imports.

Italy, with a CAGR of +12.5%, saw the highest growth rate of 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.

Import Prices by Country

In November 2023, the forged stainless steel bar price stood at $2,446 per ton (CIF, Thailand), waning by -23% against the previous month. Over the period under review, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in September 2023 an increase of 44% m-o-m. As a result, import price attained the peak level of $4,430 per ton. From October 2023 to November 2023, the average import prices failed to regain momentum.

Prices varied noticeably by the country of origin: the country with the highest price was South Korea ($15,238 per ton), while the price for China ($1,171 per ton) was amongst the lowest.

From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by South Korea (+12.3%), while the prices for the other major suppliers 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 Thailand. 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:

Thailand

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Thailand
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:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
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. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
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. 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. 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. 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. 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. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
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
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

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

Thailand Sees Sharp Increase in November 2023 Import of Stainless Steel Bars, Valued at $1.8M

Thailand Forged Stainless Steel Bar Imports

Imports by Country

Import Prices by Country

Product coverage:

Country coverage:

Data coverage:

Reasons to buy this report:

1. INTRODUCTION

2. EXECUTIVE SUMMARY

3. MARKET OVERVIEW

4. MOST PROMISING PRODUCT

5. MOST PROMISING SUPPLYING COUNTRIES

6. MOST PROMISING OVERSEAS MARKETS

7. PRODUCTION

8. IMPORTS

9. EXPORTS

10. PROFILES OF MAJOR PRODUCERS

LIST OF TABLES

LIST OF FIGURES

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