Eastern Asia: Non-Alloy Steel U-Section Market 2024

Non-Alloy Steel U-Section Market Size in Eastern Asia

The East Asian non-alloy steel u-section market rose modestly to $X in 2022, growing by X% against the previous year. In general, consumption, however, recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Non-Alloy Steel U-Section Production in Eastern Asia

In value terms, non-alloy steel u-section production rose notably to $X in 2022 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of X%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Non-Alloy Steel U-Section Exports

Exports in Eastern 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 a strong increase 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 2017 with an increase of X% against the previous year. The volume of export peaked at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, non-alloy steel u-section exports surged to $X in 2022. Overall, exports recorded a strong expansion. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

Exports by Country

China represented the major exporting country with an export of around X tons, which recorded X% of total exports. Japan (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Taiwan (Chinese) (X%) and South Korea (X%).

China was also the fastest-growing in terms of the u-sections of non-alloy steel exports, with a CAGR of X% from 2012 to 2022. Japan and Taiwan (Chinese) experienced a relatively flat trend pattern. South Korea (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China increased by X percentage points.

In value terms, China ($X) remains the largest non-alloy steel u-section supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was taken by Japan ($X), with a X% share of total exports. It was followed by South Korea, with a X% share.

In China, non-alloy steel u-section exports expanded at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (X% per year) and South Korea (X% per year).

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, picking up by X% against the previous year. In general, the export price continues to indicate a strong expansion. The growth pace was the most rapid in 2021 when the export price increased by X%. Over the period under review, the export prices hit record highs in 2022 and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was China ($X per ton), while Japan ($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 Eastern Asia

In 2022, overseas purchases of u-sections of non-alloy steel decreased by X% to X tons, falling for the second year in a row after four years of growth. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, non-alloy steel u-section imports reached $X in 2022. Total imports indicated a perceptible expansion 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 pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. The level of import peaked in 2022 and is likely to see gradual growth in the immediate term.

Imports by Country

South Korea was the largest importing country with an import of about X tons, which resulted at X% of total imports. It was distantly followed by Hong Kong SAR (X tons), China (X tons) and Taiwan (Chinese) (X tons), together generating a X% share of total imports. Democratic People's Republic of Korea (X tons) took a relatively small share of total imports.

Imports into South Korea increased at an average annual rate of X% from 2012 to 2022. At the same time, Democratic People's Republic of Korea (X%) displayed positive paces of growth. Moreover, Democratic People's Republic of Korea emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of X% from 2012-2022. China and Taiwan (Chinese) experienced a relatively flat trend pattern. By contrast, Hong Kong SAR (X%) illustrated a downward trend over the same period. South Korea (X p.p.) and Democratic People's Republic of Korea (X p.p.) significantly strengthened its position in terms of the total imports, while Hong Kong SAR saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Korea ($X) constitutes the largest market for imported u-sections of non-alloy steel in Eastern Asia, comprising X% of total imports. The second position in the ranking was held by Hong Kong SAR ($X), with a X% share of total imports. It was followed by China, with a X% share.

In South Korea, non-alloy steel u-section imports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Hong Kong SAR (X% per year) and China (X% per year).

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per ton, surging by X% against the previous year. In general, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, import prices hit record highs in 2022 and is likely to see gradual growth in the near future.

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

Source: IndexBox Platform

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