Asia-Pacific: Hot-Rolled Steel Products Market 2024

Hot-Rolled Steel Products Market Size in Asia-Pacific

The Asia-Pacific hot-rolled steel products market amounted to $X in 2022, approximately equating the previous year. 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 reached the peak level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Hot-Rolled Steel Products Production in Asia-Pacific

In value terms, hot-rolled steel products production totaled $X in 2022 estimated in export price. The total output 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. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Hot-Rolled Steel Products Exports

Exports in Asia-Pacific

In 2022, the amount of flat-rolled products of iron or steel (not further worked than hot-rolled) exported in Asia-Pacific was estimated at X tons, stabilizing at the previous year's figure. The total export volume increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2014 when exports increased by X%. The volume of export peaked at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, hot-rolled steel products exports expanded slightly to $X in 2022. Total exports indicated a pronounced 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, exports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of X%. The level of export peaked in 2022 and is likely to see steady growth in years to come.

Exports by Country

China (X tons) and Japan (X tons) represented the main exporters of flat-rolled products of iron or steel (not further worked than hot-rolled) in 2022, resulting at approx. X% and X% of total exports, respectively. South Korea (X tons) ranks next in terms of the total exports with a X% share, followed by Taiwan (Chinese) (X%), India (X%) and Indonesia (X%). Vietnam (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest hot-rolled steel products supplying countries in Asia-Pacific were China ($X), Japan ($X) and South Korea ($X), together accounting for X% of total exports. Indonesia, Taiwan (Chinese), India and Vietnam lagged somewhat behind, together accounting for a further X%.

In terms of the main exporting countries, Indonesia, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2022, increasing by X% against the previous year. Export price indicated a notable 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 export price increased by X% against 2020 indices. The growth pace was the most rapid in 2021 an increase of X%. The level of export peaked in 2022 and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while Taiwan (Chinese) ($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 Asia-Pacific

For the third consecutive year, Asia-Pacific recorded decline in overseas purchases of flat-rolled products of iron or steel (not further worked than hot-rolled), which decreased by X% to X tons in 2022. Overall, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when imports increased by X%. 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 slightly to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Imports by Country

Vietnam (X tons), South Korea (X tons), Thailand (X tons) and China (X tons) represented roughly X% of total imports in 2022. It was distantly followed by India (X tons), Malaysia (X tons), Indonesia (X tons), Japan (X tons) and Taiwan (Chinese) (X tons), together committing a X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Malaysia (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest hot-rolled steel products importing markets in Asia-Pacific were Vietnam ($X), South Korea ($X) and Thailand ($X), with a combined X% share of total imports.

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

Import Prices by Country

In 2022, the import price in Asia-Pacific amounted to $X per ton, increasing by X% against the previous year. Import price indicated noticeable growth 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 when the import price increased by X%. The level of import peaked in 2022 and is likely to see steady growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per ton), while Japan ($X per ton) was 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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