Asia-Pacific: Market for Hot-Rolled Non-Alloy Steel Wire Rods 2024

Market Size for Hot-Rolled Non-Alloy Steel Wire Rods in Asia-Pacific

The Asia-Pacific market for hot-rolled non-alloy steel wire rods shrank to $X in 2022, which is down by X% against the previous year. Over the period under review, consumption saw a slight slump. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Production of Hot-Rolled Non-Alloy Steel Wire Rods in Asia-Pacific

In value terms, hot-rolled non-alloy steel wire rod production reduced to $X in 2022 estimated in export price. In general, production recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

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Exports of Hot-Rolled Non-Alloy Steel Wire Rods

Exports in Asia-Pacific

For the fifth consecutive year, Asia-Pacific recorded growth in shipments abroad of hot-rolled non-alloy steel wire rods, which increased by X% to X tons in 2022. Overall, exports saw a prominent expansion. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. The volume of export peaked in 2022 and is expected to retain growth in the near future.

In value terms, hot-rolled non-alloy steel wire rod exports skyrocketed to $X in 2022. In general, exports showed resilient growth. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. The level of export peaked in 2022 and is likely to see steady growth in the near future.

Exports by Country

Malaysia (X tons) and China (X tons) represented the key exporters of hot-rolled non-alloy steel wire rods in 2022, amounting to near X% and X% of total exports, respectively. Japan (X tons) ranks next in terms of the total exports with an X% share, followed by Indonesia (X%), Vietnam (X%), South Korea (X%) and India (X%).

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by China (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest hot-rolled non-alloy steel wire rod supplying countries in Asia-Pacific were China ($X), Malaysia ($X) and Japan ($X), with a combined X% share of total exports.

China, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries 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. Overall, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the export price increased by X% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

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

Imports of Hot-Rolled Non-Alloy Steel Wire Rods

Imports in Asia-Pacific

In 2022, after four years of growth, there was significant decline in purchases abroad of hot-rolled non-alloy steel wire rods, when their volume decreased by X% to X tons. Overall, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons, and then fell markedly in the following year.

In value terms, hot-rolled non-alloy steel wire rod imports declined to $X in 2022. In general, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by X%. As a result, imports attained the peak of $X, and then shrank in the following year.

Imports by Country

South Korea (X tons), Thailand (X tons), the Philippines (X tons), Singapore (X tons), Japan (X tons), Malaysia (X tons), Vietnam (X tons), Taiwan (Chinese) (X tons), China (X tons), Indonesia (X tons), Australia (X tons) and Myanmar (X tons) represented roughly X% of total imports in 2022.

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, the largest hot-rolled non-alloy steel wire rod importing markets in Asia-Pacific were South Korea ($X), Thailand ($X) and the Philippines ($X), together accounting for X% of total imports.

The Philippines, 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, rising by X% against the previous year. In general, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the import price increased by X% against the previous year. Over the period under review, import prices reached the peak figure in 2022 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Indonesia ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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