Australia: Market for Forged Bars Of Stainless Steel 2024

Market Size for Forged Bars Of Stainless Steel in Australia

In 2023, after three years of growth, there was significant decline in the Australian forged stainless steel bar market, when its value decreased by X% to $X. Over the period under review, consumption, however, recorded a relatively flat trend pattern. Forged stainless steel bar consumption peaked at $X in 2022, and then shrank sharply in the following year.

Exports of Forged Bars Of Stainless Steel

Exports from Australia

Forged stainless steel bar exports from Australia reduced remarkably to X tons in 2023, waning by X% compared with 2022 figures. Overall, exports recorded a deep downturn. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons. From 2015 to 2023, the growth of the exports failed to regain momentum.

In value terms, forged stainless steel bar exports reduced rapidly to $X in 2023. Over the period under review, exports continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2022 when exports increased by X% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2023, the exports remained at a lower figure.

Exports by Country

New Zealand (X tons) was the main destination for forged stainless steel bar exports from Australia, accounting for a X% share of total exports. Moreover, forged stainless steel bar exports to New Zealand exceeded the volume sent to the second major destination, Gabon (X tons), more than tenfold. The third position in this ranking was held by Vietnam (X tons), with a X% share.

From 2012 to 2023, the average annual growth rate of volume to New Zealand amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Gabon (X% per year) and Vietnam (X% per year).

In value terms, New Zealand ($X) emerged as the key foreign market for forged bars of stainless steel exports from Australia, comprising X% of total exports. The second position in the ranking was held by Gabon ($X), with a X% share of total exports. It was followed by New Caledonia, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value to New Zealand amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Gabon (X% per year) and New Caledonia (X% per year).

Export Prices by Country

In 2023, the average forged stainless steel bar export price amounted to $X per ton, therefore, remained relatively stable against the previous year. In general, the export price, however, recorded a perceptible descent. The pace of growth was the most pronounced in 2017 an increase of X%. Over the period under review, the average export prices reached the maximum at $X per ton in 2020; however, from 2021 to 2023, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was New Caledonia ($X per ton), while the average price for exports to Papua New Guinea ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (X%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Forged Bars Of Stainless Steel

Imports into Australia

In 2023, after three years of growth, there was significant decline in overseas purchases of forged bars of stainless steel, when their volume decreased by X% to X tons. In general, imports showed a slight downturn. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Imports peaked at X tons in 2022, and then shrank dramatically in the following year.

In value terms, forged stainless steel bar imports reduced remarkably to $X in 2023. Over the period under review, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of X%. Imports peaked at $X in 2022, and then fell significantly in the following year.

Imports by Country

India (X tons), Taiwan (Chinese) (X tons) and China (X tons) were the main suppliers of forged stainless steel bar imports to Australia, with a combined X% share of total imports. The United States, Sweden, Germany and France lagged somewhat behind, together comprising a further X%.

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

In value terms, the United States ($X), India ($X) and Taiwan (Chinese) ($X) were the largest forged stainless steel bar suppliers to Australia, with a combined X% share of total imports. China, Sweden, Germany and France lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, Sweden, 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

In 2023, the average forged stainless steel bar import price amounted to $X per ton, which is down by X% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2022, and then contracted in the following year.

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

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

Source: IndexBox Platform