Eastern Asia: Coated Arc-Welding Electrode Market 2024

Coated Arc-Welding Electrode Market Size in Eastern Asia

The East Asian coated arc-welding electrode market contracted dramatically to $X in 2023, shrinking by X% against the previous year. In general, consumption continues to indicate a abrupt descent. The level of consumption peaked at $X in 2012; however, from 2013 to 2023, consumption remained at a lower figure.

Coated Arc-Welding Electrode Production in Eastern Asia

In value terms, coated arc-welding electrode production shrank modestly to $X in 2023 estimated in export price. Over the period under review, production saw a noticeable reduction. The most prominent rate of growth was recorded in 2018 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2023, production stood at a somewhat lower figure.

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Coated Arc-Welding Electrode Exports

Exports in Eastern Asia

Coated arc-welding electrode exports skyrocketed to X tons in 2023, growing by X% against 2022 figures. The total export volume increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained relatively stable, with only minor fluctuations in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, coated arc-welding electrode exports expanded sharply to $X in 2023. The total export value increased at an average annual rate of X% from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2018 with an increase of X%. Over the period under review, the exports hit record highs in 2023 and are expected to retain growth in years to come.

Exports by Country

China dominates exports structure, reaching X tons, which was near X% of total exports in 2023. Japan (X tons) and South Korea (X tons) followed a long way behind the leaders.

China was also the fastest-growing in terms of the coated base metal electrodes for electric arc-welding exports, with a CAGR of X% from 2012 to 2023. At the same time, Japan (X%) displayed positive paces of growth. By contrast, South Korea (X%) illustrated a downward trend over the same period. While the share of China (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of South Korea (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest coated arc-welding electrode supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was held by Japan ($X), with a X% share of total exports.

From 2012 to 2023, the average annual rate of growth in terms of value in China totaled X%. In the other countries, the average annual rates were as follows: Japan (X% per year) and South Korea (X% per year).

Export Prices by Country

In 2023, the export price in Eastern Asia amounted to $X per ton, dropping by X% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the export price increased by X% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2022, and then declined in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Japan ($X per ton), while China ($X per ton) was amongst the lowest.

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

Coated Arc-Welding Electrode Imports

Imports in Eastern Asia

In 2023, purchases abroad of coated base metal electrodes for electric arc-welding decreased by X% to X tons for the first time since 2017, thus ending a five-year rising trend. The total import volume 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. The most prominent rate of growth was recorded in 2014 when imports increased by X%. The volume of import peaked at X tons in 2022, and then declined in the following year.

In value terms, coated arc-welding electrode imports skyrocketed to $X in 2023. Total imports indicated a noticeable expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2017 indices. The growth pace was the most rapid in 2014 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2023, the growth of imports failed to regain momentum.

Imports by Country

Democratic People's Republic of Korea represented the largest importer of coated base metal electrodes for electric arc-welding in Eastern Asia, with the volume of imports amounting to X tons, which was approx. X% of total imports in 2023. China (X tons) ranks second in terms of the total imports with a X% share, followed by Hong Kong SAR (X%) and South Korea (X%). Japan (X tons) held a minor share of total imports.

Democratic People's Republic of Korea was also the fastest-growing in terms of the coated base metal electrodes for electric arc-welding imports, with a CAGR of X% from 2012 to 2023. China experienced a relatively flat trend pattern. Hong Kong SAR (X%), Japan (X%) and South Korea (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Democratic People's Republic of Korea increased by X percentage points.

In value terms, China ($X) constitutes the largest market for imported coated base metal electrodes for electric arc-welding in Eastern Asia, comprising X% of total imports. The second position in the ranking was held by Democratic People's Republic of Korea ($X), with an X% share of total imports. It was followed by South Korea, with a X% share.

In China, coated arc-welding electrode imports increased at an average annual rate of X% over the period from 2012-2023. The remaining importing countries recorded the following average annual rates of imports growth: Democratic People's Republic of Korea (X% per year) and South Korea (X% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2023, picking up by X% against the previous year. Overall, the import price recorded a relatively flat trend pattern. Over the period under review, import prices reached the maximum at $X per ton in 2014; however, from 2015 to 2023, import prices failed to regain momentum.

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

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

Source: IndexBox Platform