Global Hot-Rolled Steel Products Market 2024

Hot-Rolled Steel Products Market Size

In 2022, the global hot-rolled steel products market increased by X% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. Over the period under review, the global market hit record highs in 2022 and is expected to retain growth in the near future.

Hot-Rolled Steel Products Production

In value terms, hot-rolled steel products production reached $X in 2022 estimated in export price. Overall, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, global production growth failed to regain momentum.

Hot-Rolled Steel Products Exports

Exports

Global hot-rolled steel products exports contracted to X tons in 2022, waning by X% compared with the previous year's figure. In general, exports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, the global exports reached the maximum at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, hot-rolled steel products exports declined to $X in 2022. Overall, total exports indicated a moderate 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, exports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X, leveling off in the following year.

Exports by Country

China (X tons) and Japan (X tons) represented roughly X% of total exports in 2022. South Korea (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Belgium (X%), Taiwan (Chinese) (X%) and Germany (X%). India (X tons), France (X tons), Russia (X tons), the Netherlands (X tons), Indonesia (X tons), Italy (X tons) and the United States (X tons) held a minor share of total exports.

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

In value terms, the largest hot-rolled steel products supplying countries worldwide were China ($X), Japan ($X) and South Korea ($X), together accounting for X% of global exports. Belgium, Germany, Indonesia, France, Taiwan (Chinese), India, Italy, Russia, the United States and the Netherlands lagged somewhat behind, together accounting for a further X%.

Among the main exporting countries, Indonesia, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average hot-rolled steel products export price amounted to $X per ton, rising by X% against the previous year. Overall, export price indicated notable growth 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, hot-rolled steel products export price increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (X%), while the other global leaders experienced more modest paces of growth.

Hot-Rolled Steel Products Imports

Imports

In 2022, the amount of flat-rolled products of iron or steel (not further worked than hot-rolled) imported worldwide shrank to X tons, dropping by X% against 2021. Overall, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, global imports attained the peak figure at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, hot-rolled steel products imports rose to $X in 2022. Over the period under review, total imports indicated noticeable growth 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 2021 when imports increased by X%. Over the period under review, global imports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Italy (X tons), Vietnam (X tons), Turkey (X tons), South Korea (X tons), Germany (X tons), the United States (X tons), Thailand (X tons), Spain (X tons), China (X tons), Poland (X tons), the United Arab Emirates (X tons) and France (X tons) represented roughly X% of total imports in 2022. Belgium (X tons) took a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by the United Arab Emirates (with a CAGR of X%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), Italy ($X) and Germany ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for X% of global imports. Turkey, the United States, South Korea, France, Poland, Thailand, Spain, China, Belgium and the United Arab Emirates lagged somewhat behind, together comprising a further X%.

The United Arab Emirates, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

The average hot-rolled steel products import price stood at $X per ton in 2022, picking up by X% against the previous year. In general, import price indicated a temperate increase 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, hot-rolled steel products import price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average import price increased by X%. Global import price peaked in 2022 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was France ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (X%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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