Overview of the Global Market for Forged Bars Of Stainless Steel

Market Size for Forged Bars Of Stainless Steel

The global forged stainless steel bar market reached $X in 2023, stabilizing at the previous year. Over the period under review, consumption recorded a mild shrinkage. The pace of growth appeared the most rapid in 2021 when the market value increased by X% against the previous year. Global consumption peaked at $X in 2015; however, from 2016 to 2023, consumption remained at a lower figure.

Production of Forged Bars Of Stainless Steel

In value terms, forged stainless steel bar production totaled $X in 2023 estimated in export price. Overall, production recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the production volume increased by X%. Over the period under review, global production attained the maximum level at $X in 2015; however, from 2016 to 2023, production remained at a lower figure.

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Exports of Forged Bars Of Stainless Steel

Exports

In 2023, shipments abroad of forged bars of stainless steel increased by X% to X tons, rising for the second year in a row after two years of decline. Over the period under review, exports, however, continue to indicate a slight contraction. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. Over the period under review, the global exports attained the maximum at X tons in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

In value terms, forged stainless steel bar exports expanded remarkably to $X in 2023. In general, total exports indicated a mild expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2018 when exports increased by X%. The global exports peaked in 2023 and are expected to retain growth in the near future.

Exports by Country

India was the largest exporting country with an export of about X tons, which amounted to X% of total exports. Germany (X tons) ranks second in terms of the total exports with a X% share, followed by Italy (X%), China (X%) and Sweden (X%). The following exporters - Taiwan (Chinese) (X tons), Belgium (X tons), Spain (X tons), Singapore (X tons), the United States (X tons), South Korea (X tons), Slovenia (X tons) and Poland (X tons) - together made up X% of total exports.

From 2012 to 2023, average annual rates of growth with regard to forged stainless steel bar exports from India stood at X%. At the same time, Belgium (X%), Spain (X%), China (X%), Slovenia (X%) and Taiwan (Chinese) (X%) displayed positive paces of growth. Moreover, Belgium emerged as the fastest-growing exporter exported in the world, with a CAGR of X% from 2012-2023. By contrast, Italy (X%), Sweden (X%), South Korea (X%), Germany (X%), the United States (X%), Poland (X%) and Singapore (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of India, China, Belgium and Spain increased by X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X), Germany ($X) and Italy ($X) constituted the countries with the highest levels of exports in 2023, together accounting for X% of global exports. The United States, Sweden, China, Spain, Belgium, Taiwan (Chinese), Singapore, Slovenia, South Korea and Poland lagged somewhat behind, together accounting for a further X%.

In terms of the main exporting countries, Spain, 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 2023, the average forged stainless steel bar export price amounted to $X per ton, growing by X% against the previous year. Overall, export price indicated a tangible expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, forged stainless steel bar export price increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2022 when the average export price increased by X%. Over the period under review, the average export prices hit record highs in 2023 and is likely to continue growth in the immediate term.

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 the United States ($X per ton), while India ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Singapore (X%), while the other global leaders experienced more modest paces of growth.

Imports of Forged Bars Of Stainless Steel

Imports

Global forged stainless steel bar imports reduced slightly to X tons in 2023, approximately mirroring 2022. Overall, imports continue to indicate a perceptible descent. The growth pace was the most rapid in 2014 with an increase of X%. Over the period under review, global imports hit record highs at X tons in 2012; however, from 2013 to 2023, imports failed to regain momentum.

In value terms, forged stainless steel bar imports totaled $X in 2023. Over the period under review, imports recorded a mild setback. The most prominent rate of growth was recorded in 2022 with an increase of X%. Over the period under review, global imports attained the maximum at $X in 2012; however, from 2013 to 2023, imports failed to regain momentum.

Imports by Country

In 2023, Germany (X tons), followed by Poland (X tons), Italy (X tons), Indonesia (X tons) and China (X tons) represented the key importers of forged bars of stainless steel, together achieving X% of total imports. South Korea (X tons), Belgium (X tons), Singapore (X tons), Thailand (X tons), Taiwan (Chinese) (X tons), the UK (X tons), France (X tons) and the United States (X tons) followed a long way behind the leaders.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Belgium (with a CAGR of X%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, Germany ($X) constitutes the largest market for imported forged bars of stainless steel worldwide, comprising X% of global imports. The second position in the ranking was held by Italy ($X), with a X% share of global imports. It was followed by China, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in Germany amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: Italy (X% per year) and China (X% per year).

Import Prices by Country

The average forged stainless steel bar import price stood at $X per ton in 2023, with an increase of X% against the previous year. Over the period under review, import price indicated a tangible expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, forged stainless steel bar import price increased by X% against 2020 indices. The pace of growth was the most pronounced in 2022 when the average import price increased by X% against the previous year. Over the period under review, average import prices reached the peak figure in 2023 and is likely to continue growth in the immediate term.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Germany (X%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform