ASEAN: Hot-Rolled Steel Products Market 2024

Hot-Rolled Steel Products Market Size in ASEAN

In 2022, the ASEAN hot-rolled steel products market increased by X% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Hot-Rolled Steel Products Production in ASEAN

In value terms, hot-rolled steel products production reached $X in 2022 estimated in export price. In general, production continues to indicate strong growth. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Hot-Rolled Steel Products Exports

Exports in ASEAN

Hot-rolled steel products exports contracted slightly to X tons in 2022, falling by X% against the previous year's figure. Overall, exports, however, saw a prominent expansion. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2021, and then shrank slightly in the following year.

In value terms, hot-rolled steel products exports contracted modestly to $X in 2022. Over the period under review, exports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2018 with an increase of X%. The level of export peaked at $X in 2021, and then shrank in the following year.

Exports by Country

In 2022, Indonesia (X tons) was the key exporter of flat-rolled products of iron or steel (not further worked than hot-rolled), making up X% of total exports. Vietnam (X tons) ranks second in terms of the total exports with a X% share, followed by Singapore (X%). Malaysia (X tons) followed a long way behind the leaders.

Indonesia was also the fastest-growing in terms of the flat-rolled products of iron or steel (not further worked than hot-rolled) exports, with a CAGR of X% from 2012 to 2022. At the same time, Vietnam (X%) and Malaysia (X%) displayed positive paces of growth. By contrast, Singapore (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Indonesia and Vietnam increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Indonesia ($X) remains the largest hot-rolled steel products supplier in ASEAN, comprising X% of total exports. The second position in the ranking was taken by Vietnam ($X), with a X% share of total exports. It was followed by Singapore, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Indonesia totaled X%. In the other countries, the average annual rates were as follows: Vietnam (X% per year) and Singapore (X% per year).

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2022, almost unchanged from the previous year. In general, the export price, however, showed a strong expansion. The most prominent rate of growth was recorded in 2021 when the export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton, leveling off in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (X%), while the other leaders experienced more modest paces of growth.

Hot-Rolled Steel Products Imports

Imports in ASEAN

Hot-rolled steel products imports dropped to X tons in 2022, reducing by X% against the year before. Over the period under review, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2017 to 2022, the growth of imports failed to regain momentum.

In value terms, hot-rolled steel products imports rose significantly to $X in 2022. Total imports indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Over the period under review, imports attained the maximum in 2022 and are likely to continue growth in the near future.

Imports by Country

In 2022, Vietnam (X tons) was the largest importer of flat-rolled products of iron or steel (not further worked than hot-rolled), committing X% of total imports. Thailand (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Malaysia (X%) and Indonesia (X%). The Philippines (X tons) and Singapore (X tons) held a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by the Philippines (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X) constitutes the largest market for imported flat-rolled products of iron or steel (not further worked than hot-rolled) in ASEAN, comprising X% of total imports. The second position in the ranking was taken by Thailand ($X), with a X% share of total imports. It was followed by Malaysia, with a X% share.

In Vietnam, hot-rolled steel products imports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Thailand (X% per year) and Malaysia (X% per year).

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2022, increasing by X% against the previous year. Import price indicated a tangible expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, hot-rolled steel products import price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the near future.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Singapore ($X per ton) and Vietnam ($X per ton), while the Philippines ($X per ton) and Indonesia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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