Eastern Asia: 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 Eastern Asia

In 2020, the East Asian iron and steel wire market increased by X% to $X, rising for the fourth consecutive year after five years of decline. The market value increased at an average annual rate of +X% over the period from 2007 to 2020; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2008 when the market value increased by X% year-to-year. Over the period under review, the market reached the peak level in 2020 and is likely to see steady growth in the near future.

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

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% from 2007 to 2020; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2008 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2019, and then reduced modestly in the following year.

Production By Country in Eastern Asia

The country with the largest volume of iron and steel wire production was China (X tons), 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. The third position in this ranking was occupied by South Korea (X tons), with a X% share.

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

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

Exports in Eastern Asia

In 2020, exports of wire of iron or non-alloy steel (stainless steel or other alloy steel) in Eastern Asia shrank to X tons, which is down by -X% on the previous year. The total export volume increased at an average annual rate of +X% from 2007 to 2020; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2010 with an increase of X% year-to-year. Over the period under review, exports attained the peak figure at X tons in 2018; however, from 2019 to 2020, exports failed to regain the momentum.

In value terms, iron and steel wire exports dropped modestly to $X in 2020. The total export 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 pace of growth appeared the most rapid in 2010 when exports increased by X% year-to-year. The level of export peaked at $X in 2011; however, from 2012 to 2020, exports remained at a lower figure.

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) held a X% share (based on tons) of total exports, which put it in second place, followed by Japan (X%). Taiwan (Chinese) (X tons) followed a long way behind the leaders.

China was also the fastest-growing in terms of the wire of iron or non-alloy steel (stainless steel or other alloy steel) exports, with a CAGR of +X% from 2007 to 2020. South Korea and Taiwan (Chinese) experienced a relatively flat trend pattern. Japan (-X%) illustrated a downward trend over the same period. From 2007 to 2020, the share of China increased by +X% percentage points, while Taiwan (Chinese) (-X p.p.), South Korea (-X p.p.) and Japan (-X p.p.) saw their share reduced.

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

In China, iron and steel wire exports increased at an average annual rate of +X% over the period from 2007-2020. 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 Eastern Asia stood at $X per ton in 2020, with an increase of X% against the previous year. Over the period from 2007 to 2020, it increased at an average annual rate of +X%. The most prominent rate of growth was recorded in 2010 an increase of X% y-o-y. Over the period under review, export prices hit record highs at $X per ton in 2011; however, from 2012 to 2020, export prices failed to regain the momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2020, the country with the highest price was Japan ($X per ton), while China ($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 mixed trends in the export price figures.

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

Imports in Eastern Asia

In 2020, approx. X tons of wire of iron or non-alloy steel (stainless steel or other alloy steel) were imported in Eastern Asia; waning by -X% compared with the previous year's figure. Over the period under review, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2010 when imports increased by X% y-o-y. The volume of import peaked at X tons in 2014; however, from 2015 to 2020, imports stood at a somewhat lower figure.

In value terms, iron and steel wire imports contracted to $X in 2020. In general, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2010 with an increase of X% y-o-y. Over the period under review, imports reached the maximum at $X in 2011; however, from 2012 to 2020, imports stood at a somewhat lower figure.

Imports by Country

In 2020, Japan (X tons) and South Korea (X tons) represented the key importers of wire of iron or non-alloy steel (stainless steel or other alloy steel) in Eastern Asia, together resulting at near X% of total imports. China (X tons) ranks next in terms of the total imports with a X% share, followed by Taiwan (Chinese) (X%).

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

In value terms, the largest iron and steel wire importing markets in Eastern Asia were China ($X), Japan ($X) and South Korea ($X), with a combined X% share of total imports.

South Korea saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2020, the iron and steel wire import price in Eastern Asia amounted to $X per ton, reducing by -X% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2008 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 ($X per ton), while South Korea ($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 a decline in the import price figures.

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Source: IndexBox Platform

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