Asia-Pacific: Flat-Rolled Steel Coils Market 2024

Flat-Rolled Steel Coils Market Size in Asia-Pacific

The Asia-Pacific flat-rolled steel coils market declined modestly to $X in 2023, falling by X% against the previous year. Over the period under review, consumption, however, saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2022 to 2023, the growth of the market failed to regain momentum.

Flat-Rolled Steel Coils Production in Asia-Pacific

In value terms, flat-rolled steel coils production expanded remarkably to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2022 to 2023, production growth remained at a lower figure.

Flat-Rolled Steel Coils Exports

Exports in Asia-Pacific

Flat-rolled steel coils exports surged to X tons in 2023, growing by X% compared with the previous year. The total export volume increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, flat-rolled steel coils exports stood at $X in 2023. Total exports indicated noticeable growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs in 2023 and are likely to see steady growth in the near future.

Exports by Country

In 2023, China (X tons), distantly followed by Japan (X tons), South Korea (X tons), Taiwan (Chinese) (X tons) and India (X tons) were the main exporters of flat-rolled steel in coils, together constituting X% of total exports. Vietnam (X tons) held a relatively small share of total exports.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Vietnam (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

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

In terms of the main exporting countries, Vietnam, with a CAGR of X%, saw 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.

Export Prices by Country

In 2023, the export price in Asia-Pacific amounted to $X per ton, waning by X% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the export price increased by X%. Over the period under review, the export prices attained the maximum at $X per ton in 2022, and then contracted notably in the following year.

Average prices varied somewhat amongst the major exporting countries. In 2023, major exporting countries recorded the following prices: in Taiwan (Chinese) ($X per ton) and South Korea ($X per ton), while China ($X per ton) and Japan ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (X%), while the other leaders experienced more modest paces of growth.

Flat-Rolled Steel Coils Imports

Imports in Asia-Pacific

In 2023, overseas purchases of flat-rolled steel in coils increased by X% to X tons for the first time since 2019, thus ending a three-year declining trend. In general, imports, however, recorded a slight setback. The most prominent rate of growth was recorded in 2015 when imports increased by X%. Over the period under review, imports reached the peak figure at X tons in 2016; however, from 2017 to 2023, imports remained at a lower figure.

In value terms, flat-rolled steel coils imports contracted to $X in 2023. Overall, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, imports reached the peak figure at $X in 2022, and then declined in the following year.

Imports by Country

The countries with the highest levels of flat-rolled steel coils imports in 2023 were Vietnam (X tons), Thailand (X tons), South Korea (X tons), India (X tons), Malaysia (X tons), Japan (X tons), Indonesia (X tons), China (X tons), Pakistan (X tons) and Bangladesh (X tons), together amounting to X% of total import.

From 2012 to 2023, the biggest increases were recorded for Bangladesh (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), Thailand ($X) and South Korea ($X) were the countries with the highest levels of imports in 2023, with a combined X% share of total imports. India, Indonesia, Malaysia, Japan, China, Bangladesh and Pakistan lagged somewhat behind, together accounting for a further X%.

Among the main importing countries, Bangladesh, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2023, waning by X% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of X%. The level of import peaked at $X per ton in 2022, and then shrank in the following year.

Average prices varied somewhat amongst the major importing countries. In 2023, major importing countries recorded the following prices: in Indonesia ($X per ton) and Vietnam ($X per ton), while India ($X per ton) and Pakistan ($X per ton) were amongst the lowest.

From 2012 to 2023, 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