India: Steel Plaited Band Market 2024

Steel Plaited Band Market Size in India

The Indian steel plaited band market contracted remarkably to $X in 2022, shrinking by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption posted a noticeable expansion. As a result, consumption attained the peak level of $X, and then fell markedly in the following year.

Steel Plaited Band Exports

Exports from India

Steel plaited band exports from India fell rapidly to X tons in 2022, reducing by X% compared with 2021 figures. In general, exports showed a noticeable curtailment. The pace of growth was the most pronounced in 2017 when exports increased by X%. Over the period under review, the exports attained the peak figure at X tons in 2021, and then reduced sharply in the following year.

In value terms, steel plaited band exports fell dramatically to $X in 2022. Over the period under review, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by X%. The exports peaked at $X in 2021, and then declined dramatically in the following year.

Exports by Country

The United Arab Emirates (X tons), Australia (X tons) and Nepal (X tons) were the main destinations of steel plaited band exports from India, with a combined X% share of total exports. Canada, the United States, Saudi Arabia, Sri Lanka, Malaysia, Singapore, Senegal, Estonia, Bahrain and Norway lagged somewhat behind, together accounting for a further X%.

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

In value terms, the largest markets for steel plaited band exported from India were the United States ($X), Saudi Arabia ($X) and Canada ($X), with a combined X% share of total exports. The United Arab Emirates, Norway, Australia, Nepal, Sri Lanka, Senegal, Singapore, Bahrain, Estonia and Malaysia lagged somewhat behind, together comprising a further X%.

Senegal, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average steel plaited band export price amounted to $X per ton, rising by X% against the previous year. Overall, export price indicated a mild 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, steel plaited band export price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is likely to see gradual growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Norway (X%), while the prices for the other major destinations experienced more modest paces of growth.

Steel Plaited Band Imports

Imports into India

In 2022, purchases abroad of iron or steel plaited bands and slings increased by X% to X tons, rising for the second consecutive year after two years of decline. In general, total imports indicated a resilient 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, imports increased by X% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, steel plaited band imports shrank significantly to $X in 2022. Overall, imports showed tangible growth. The growth pace was the most rapid in 2021 when imports increased by X%. As a result, imports attained the peak of $X, and then shrank dramatically in the following year.

Imports by Country

China (X tons), Thailand (X tons) and Vietnam (X tons) were the main suppliers of steel plaited band imports to India, with a combined X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Vietnam (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Thailand ($X) and Vietnam ($X) appeared to be the largest steel plaited band suppliers to India, with a combined X% share of total imports.

Vietnam, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average steel plaited band import price stood at $X per ton in 2022, dropping by X% against the previous year. Overall, the import price saw a pronounced reduction. The pace of growth was the most pronounced in 2021 an increase of X%. As a result, import price reached the peak level of $X per ton, and then declined rapidly in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Vietnam ($X per ton) and Malaysia ($X per ton), while the price for China ($X per ton) and Thailand ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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