Asia-Pacific: Market for Hot-Rolled Wire Rod In Coil Of Stainless Steel 2024

Market Size for Hot-Rolled Wire Rod In Coil Of Stainless Steel in Asia-Pacific

The Asia-Pacific market for hot-rolled wire rod in coil of stainless steel surged to $X in 2023, growing by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Hot-Rolled Wire Rod In Coil Of Stainless Steel in Asia-Pacific

In value terms, hot-rolled wire stainless steel rod production amounted to $X in 2023 estimated in export price. Over the period under review, production, however, saw a slight decline. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2023, production remained at a lower figure.

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Exports of Hot-Rolled Wire Rod In Coil Of Stainless Steel

Exports in Asia-Pacific

In 2023, approx. X tons of hot-rolled wire rod in coil of stainless steel were exported in Asia-Pacific; which is down by X% against the previous year. In general, exports recorded a relatively flat trend pattern. 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 attained the maximum at X tons in 2016; however, from 2017 to 2023, the exports failed to regain momentum.

In value terms, hot-rolled wire stainless steel rod exports fell dramatically to $X in 2023. Over the period under review, exports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when exports increased by X%. The level of export peaked at $X in 2022, and then dropped markedly in the following year.

Exports by Country

Taiwan (Chinese) was the major exporting country with an export of about X tons, which finished at X% of total exports. China (X tons) ranks second in terms of the total exports with a X% share, followed by South Korea (X%), India (X%) and Japan (X%). Hong Kong SAR (X tons) followed a long way behind the leaders.

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

In value terms, the largest hot-rolled wire stainless steel rod supplying countries in Asia-Pacific were Taiwan (Chinese) ($X), Japan ($X) and China ($X), with a combined X% share of total exports. South Korea, India and Hong Kong SAR lagged somewhat behind, together accounting for a further X%.

Among the main exporting countries, Hong Kong SAR, with a CAGR of X%, saw 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

In 2023, the export price in Asia-Pacific amounted to $X per ton, shrinking by X% against the previous year. Overall, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 an increase of X% against the previous year. Over the period under review, the export prices reached the maximum at $X per ton in 2022, and then shrank in the following year.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Japan (X%), while the other leaders experienced mixed trends in the export price figures.

Imports of Hot-Rolled Wire Rod In Coil Of Stainless Steel

Imports in Asia-Pacific

In 2023, overseas purchases of hot-rolled wire rod in coil of stainless steel decreased by X% to X tons, falling for the second year in a row after two years of growth. In general, imports, however, enjoyed slight growth. The growth pace was the most rapid in 2015 with an increase of X% against the previous year. As a result, imports reached the peak of X tons. From 2016 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, hot-rolled wire stainless steel rod imports reduced remarkably to $X in 2023. Overall, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at $X in 2022, and then shrank notably in the following year.

Imports by Country

South Korea (X tons) and Vietnam (X tons) represented roughly X% of total imports in 2023. China (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Thailand (X%), Taiwan (Chinese) (X%) and Malaysia (X%). The following importers - India (X tons) and Indonesia (X tons) - together made up X% of total imports.

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

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

Vietnam, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of 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 2023, the import price in Asia-Pacific amounted to $X per ton, falling by X% against the previous year. In general, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the import price increased by X%. Over the period under review, import prices reached the peak figure at $X per ton in 2022, and then reduced in the following year.

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

From 2012 to 2023, 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.

Source: IndexBox Platform