Asia-Pacific: Market for Wire Of Iron Or Non-Alloy Steel (Stainless Steel Or Other Alloy Steel) 2022

Market Size for Wire Of Iron Or Non-Alloy Steel (Stainless Steel Or Other Alloy Steel) in Asia-Pacific

In 2020, after three years of growth, there was decline in the Asia-Pacific iron and steel wire market, when its value decreased by -X% to $X. The market value increased at an average annual rate of +X% from 2007 to 2020; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The growth pace was the most rapid in 2008 when the market value increased by X% against the previous year. The level of consumption peaked at $X in 2019, and then reduced in the following year.

Production of Wire Of Iron Or Non-Alloy Steel (Stainless Steel Or Other Alloy Steel) in Asia-Pacific

In value terms, iron and steel wire production contracted slightly to $X in 2020 estimated in export prices. The total output value increased at an average annual rate of +X% over the period from 2007 to 2020; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2008 when the production volume increased by X% against the previous year. Over the period under review, production reached the maximum level at $X in 2019, and then fell modestly in the following year.

Production By Country in Asia-Pacific

China (X tons) constituted the country with the largest volume of iron and steel wire production, accounting for X% of total volume. Moreover, iron and steel wire production in China exceeded the figures recorded by the second-largest producer, Japan (X tons), sevenfold. India (X tons) ranked third in terms of total production with a X% share.

From 2007 to 2020, the average annual growth rate of volume in China amounted to +X%. The remaining producing countries recorded the following average annual rates of production growth: Japan (-X% per year) and India (+X% per year).

Exports of Wire Of Iron Or Non-Alloy Steel (Stainless Steel Or Other Alloy Steel)

Exports in Asia-Pacific

In 2020, exports of wire of iron or non-alloy steel (stainless steel or other alloy steel) in Asia-Pacific fell to X tons, with a decrease of -X% against 2019. The total export volume increased at an average annual rate of +X% over the period from 2007 to 2020; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2010 when exports increased by X% y-o-y. Over the period under review, exports attained the maximum at X tons in 2018; however, from 2019 to 2020, exports remained at a lower figure.

In value terms, iron and steel wire exports shrank to $X in 2020. The total export value increased at an average annual rate of +X% from 2007 to 2020; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2010 with an increase of X% year-to-year. The level of export peaked at $X in 2011; however, from 2012 to 2020, exports failed to regain the momentum.

Exports by Country

China was the main exporting country with an export of about X tons, which recorded X% of total exports. South Korea (X tons) took the second position in the ranking, distantly followed by Vietnam (X tons). All these countries together occupied approx. X% share of total exports. Japan (X tons), India (X tons), Malaysia (X tons), Taiwan (Chinese) (X tons), Thailand (X tons) and Singapore (X tons) took a relatively small share of total exports.

From 2007 to 2020, average annual rates of growth with regard to iron and steel wire exports from China stood at +X%. At the same time, Vietnam (+X%), Singapore (+X%), India (+X%) and Thailand (+X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +X% from 2007-2020. South Korea and Taiwan (Chinese) experienced a relatively flat trend pattern. By contrast, Malaysia (-X%) and Japan (-X%) illustrated a downward trend over the same period. From 2007 to 2020, the share of China and Vietnam increased by +X% and +X% percentage points, while Taiwan (Chinese) (-X p.p.), Malaysia (-X p.p.), South Korea (-X p.p.) and Japan (-X p.p.) saw their share reduced. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest iron and steel wire supplier in Asia-Pacific, comprising X% of total exports. The second position in the ranking was occupied by South Korea ($X), with a X% share of total exports. It was followed by Japan, with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of value in China amounted to +X%. In the other countries, the average annual rates were as follows: South Korea (-X% per year) and Japan (-X% per year).

Export Prices by Country

The iron and steel wire export price in Asia-Pacific stood at $X per ton in 2020, growing by X% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2010 when the export price increased by X% year-to-year. Over the period under review, export prices reached the maximum at $X per ton in 2011; however, from 2012 to 2020, export prices failed to regain the momentum.

Prices varied noticeably by the country of origin; the country with the highest price was Japan ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by China, while the other leaders experienced more modest paces of growth.

Imports of Wire Of Iron Or Non-Alloy Steel (Stainless Steel Or Other Alloy Steel)

Imports in Asia-Pacific

In 2020, overseas purchases of wire of iron or non-alloy steel (stainless steel or other alloy steel) decreased by -X% to X tons, falling for the third consecutive year after five years of growth. The total import volume increased at an average annual rate of +X% over the period from 2007 to 2020; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2010 when imports increased by X% y-o-y. Over the period under review, imports reached the maximum at X tons in 2017; however, from 2018 to 2020, imports remained at a lower figure.

In value terms, iron and steel wire imports shrank to $X in 2020. The total import value increased at an average annual rate of +X% over the period from 2007 to 2020; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2010 when imports increased by X% y-o-y. Over the period under review, imports hit record highs at $X in 2011; however, from 2012 to 2020, imports stood at a somewhat lower figure.

Imports by Country

The purchases of the four major importers of wire of iron or non-alloy steel (stainless steel or other alloy steel), namely Japan, South Korea, Thailand and Vietnam, represented more than third of total import. Malaysia (X tons) held the next position in the ranking, followed by India (X tons), Australia (X tons), China (X tons) and Indonesia (X tons). All these countries together took approx. X% share of total imports. Myanmar (X tons), the Philippines (X tons), Taiwan (Chinese) (X tons) and Sri Lanka (X tons) followed a long way behind the leaders.

From 2007 to 2020, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Myanmar, while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Japan ($X) and Vietnam ($X) appeared to be the countries with the highest levels of imports in 2020, together accounting for X% of total imports. These countries were followed by Thailand, South Korea, India, Indonesia, Malaysia, Australia, Taiwan (Chinese), the Philippines, Myanmar and Sri Lanka, which together accounted for a further X terms of the main importing countries, Myanmar recorded the highest rates of growth with regard to 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 iron and steel wire import price in Asia-Pacific stood at $X per ton in 2020, shrinking by -X% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2010 when the import price increased by X% y-o-y. The level of import peaked at $X per ton in 2011; however, from 2012 to 2020, import prices failed to regain the momentum.

Prices varied noticeably by the country of destination; the country with the highest price was China ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by China, while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :