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 Asia

In 2020, after three years of growth, there was decline in the Asian iron and steel wire market, when its value decreased by -X% to $X. The market value increased at an average annual rate of +X% from 2007 to 2020; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The pace of growth was the most pronounced in 2008 when the market value increased by X% against the previous year. The level of consumption peaked at $X in 2019, and then dropped slightly in the following year.

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

In value terms, iron and steel wire production dropped to $X in 2020 estimated in export prices. The total output value increased at an average annual rate of +X% over the period from 2007 to 2020; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2008 when the production volume increased by X% y-o-y. The level of production peaked at $X in 2019, and then shrank in the following year.

Production By Country in 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. India (X tons) ranked third in terms of total production with a X% share.

In China, iron and steel wire production expanded at an average annual rate of +X% over the period from 2007-2020. In the other countries, the average annual rates were as follows: Japan (-X% per year) and India (+X% per year).

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

Exports in Asia

In 2020, overseas shipments of wire of iron or non-alloy steel (stainless steel or other alloy steel) decreased by -X% to X tons, falling for the second consecutive year after nine years of growth. Total exports indicated a measured increase from 2007 to 2020: its volume increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, exports decreased by -X% against 2018 indices. The pace of growth appeared the most rapid in 2010 when exports increased by X% against the previous year. Over the period under review, exports reached 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 shrank slightly to $X in 2020. Total exports indicated a notable expansion from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2010 when exports increased by X% against the previous year. Over the period under review, exports attained the maximum at $X in 2019, and then reduced in the following year.

Exports by Country

China represented the major exporter of wire of iron or non-alloy steel (stainless steel or other alloy steel) in Asia, with the volume of exports amounting to X tons, which was approx. X% of total exports in 2020. South Korea (X tons) ranks second in terms of the total exports with a X% share, followed by Turkey (X%). The following exporters - Vietnam (X tons), Japan (X tons), India (X tons), Malaysia (X tons), Saudi Arabia (X tons), Taiwan (Chinese) (X tons) and Thailand (X tons) - together made up X% of total exports.

From 2007 to 2020, average annual rates of growth with regard to iron and steel wire exports from China stood at +X%. At the same time, Vietnam (+X%), Saudi Arabia (+X%), Turkey (+X%), India (+X%) and Thailand (+X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia, with a CAGR of +X% from 2007-2020. South Korea and Taiwan (Chinese) experienced a relatively flat trend pattern. By contrast, Malaysia (-X%) and Japan (-X%) illustrated a downward trend over the same period. Turkey (+X p.p.), Vietnam (+X p.p.) and Saudi Arabia (+X p.p.) significantly strengthened its position in terms of the total exports, while Taiwan (Chinese), Malaysia, Japan and South Korea saw its share reduced by -X%, -X%, -X% and -X% from 2007 to 2020, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2007 to 2020, the average annual rate of growth in terms of value in China amounted to +X%. The remaining exporting countries recorded the following average annual rates of exports growth: South Korea (-X% per year) and Japan (-X% per year).

Export Prices by Country

The iron and steel wire export price in Asia stood at $X per ton in 2020, rising by X% against the previous year. In general, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2010 an increase of X% y-o-y. The level of export peaked at $X per ton in 2011; however, from 2012 to 2020, export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2020, the country with the highest price was Japan ($X per ton), while Saudi Arabia ($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 more modest paces of growth.

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

Imports in Asia

In 2020, overseas purchases of wire of iron or non-alloy steel (stainless steel or other alloy steel) decreased by -X% to X tons, falling for the second year in a row after three years of growth. The total import volume 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 throughout the analyzed period. The pace of growth appeared the most rapid in 2010 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2018; however, from 2019 to 2020, imports stood at a somewhat lower figure.

In value terms, iron and steel wire imports contracted to $X in 2020. The total import 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 throughout the analyzed period. The pace of growth appeared the most rapid in 2010 with an increase of X% y-o-y. The level of import peaked at $X in 2011; however, from 2012 to 2020, imports remained at a lower figure.

Imports by Country

Japan (X tons), South Korea (X tons), Thailand (X tons), Vietnam (X tons), the United Arab Emirates (X tons), Malaysia (X tons), India (X tons), China (X tons), Indonesia (X tons), Myanmar (X tons), the Philippines (X tons) and Kazakhstan (X tons) represented roughly X% of total imports of wire of iron or non-alloy steel (stainless steel or other alloy steel) in 2020. Turkey (X tons) took a relatively small share of total imports.

From 2007 to 2020, the biggest increases were in Myanmar, while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest iron and steel wire importing markets in Asia were China ($X), Japan ($X) and Vietnam ($X), together accounting for X% of total imports. Thailand, South Korea, India, Indonesia, Malaysia, Turkey, the United Arab Emirates, the Philippines, Myanmar and Kazakhstan lagged somewhat behind, together comprising a further X recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2020, the iron and steel wire import price in Asia amounted to $X per ton, reducing by -X% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2010 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 stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2020, the country with the highest price was China ($X per ton), while Kazakhstan ($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 more modest paces of growth.

Source: IndexBox Platform

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