Asia: Non-Alloy Steel U-Section Market 2024

Non-Alloy Steel U-Section Market Size in Asia

The Asian non-alloy steel u-section market expanded slightly to $X in 2022, rising by X% against the previous year. Overall, consumption saw a relatively flat trend pattern. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Non-Alloy Steel U-Section Production in Asia

In value terms, non-alloy steel u-section production rose modestly to $X in 2022 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 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.

Non-Alloy Steel U-Section Exports

Exports in Asia

In 2022, shipments abroad of u-sections of non-alloy steel increased by X% to X tons, rising for the second consecutive year after two years of decline. Total exports indicated prominent growth from 2012 to 2022: its volume 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 2014 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the near future.

In value terms, non-alloy steel u-section exports surged to $X in 2022. Overall, exports continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2021 when exports increased by X%. The level of export peaked in 2022 and is expected to retain growth in the near future.

Exports by Country

Turkey (X tons) and China (X tons) represented roughly X% of total exports in 2022. It was distantly followed by Japan (X tons) and Taiwan (Chinese) (X tons), together making up a X% share of total exports. South Korea (X tons), Thailand (X tons), the United Arab Emirates (X tons), Iran (X tons), Singapore (X tons) and Oman (X tons) held a minor share of total exports.

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

In value terms, the largest non-alloy steel u-section supplying countries in Asia were China ($X), Turkey ($X) and Japan ($X), with a combined X% share of total exports. South Korea, Taiwan (Chinese), Thailand, the United Arab Emirates, Singapore, Oman and Iran lagged somewhat behind, together comprising a further X%.

Oman, with a CAGR of X%, recorded the highest growth rate of 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

In 2022, the export price in Asia amounted to $X per ton, with an increase of X% against the previous year. Export price indicated pronounced 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, non-alloy steel u-section export price increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The level of export peaked in 2022 and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while Iran ($X per ton) was amongst the lowest.

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

Non-Alloy Steel U-Section Imports

Imports in Asia

In 2022, after three years of decline, there was growth in purchases abroad of u-sections of non-alloy steel, when their volume increased by X% to X tons. Overall, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when imports increased by X%. The volume of import peaked at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, non-alloy steel u-section imports soared to $X in 2022. Total imports indicated a modest 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, imports increased by X% against 2020 indices. The growth pace was the most rapid in 2018 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the near future.

Imports by Country

The United Arab Emirates (X tons), Malaysia (X tons), Singapore (X tons), South Korea (X tons), Kazakhstan (X tons) and the Philippines (X tons) represented roughly X% of total imports in 2022. Hong Kong SAR (X tons), Uzbekistan (X tons), Israel (X tons), Vietnam (X tons), Kuwait (X tons), China (X tons) and Nepal (X tons) held a little share of total imports.

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

In value terms, the United Arab Emirates ($X), Singapore ($X) and Malaysia ($X) constituted the countries with the highest levels of imports in 2022, together comprising X% of total imports. Kazakhstan, South Korea, the Philippines, Israel, Hong Kong SAR, Vietnam, Kuwait, Uzbekistan, China and Nepal lagged somewhat behind, together comprising a further X%.

Among the main importing countries, the Philippines, 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 stood at $X per ton in 2022, jumping by X% against the previous year. Import price indicated a perceptible 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, non-alloy steel u-section import price increased by X% against 2020 indices. The growth pace was the most rapid in 2021 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs in 2022 and is likely to continue growth in years to come.

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 China ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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