Eastern Asia: Market for Forged Bars Of Stainless Steel 2024

Market Size for Forged Bars Of Stainless Steel in Eastern Asia

The East Asian forged stainless steel bar market rose to $X in 2023, with an increase of X% against the previous year. In general, consumption, however, continues to indicate a relatively flat trend pattern. The level of consumption peaked at $X in 2016; however, from 2017 to 2023, consumption remained at a lower figure.

Production of Forged Bars Of Stainless Steel in Eastern Asia

In value terms, forged stainless steel bar production rose modestly to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when the production volume increased by X% against the previous year. Over the period under review, production attained the maximum level at $X in 2016; however, from 2017 to 2023, production remained at a lower figure.

Exports of Forged Bars Of Stainless Steel

Exports in Eastern Asia

For the third year in a row, Eastern Asia recorded growth in overseas shipments of forged bars of stainless steel, which increased by X% to X tons in 2023. In general, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of X%. As a result, the exports reached the peak of X tons. From 2015 to 2023, the growth of the exports remained at a somewhat lower figure.

In value terms, forged stainless steel bar exports shrank modestly to $X in 2023. Over the period under review, exports showed a measured expansion. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2023, the growth of the exports remained at a lower figure.

Exports by Country

China was the main exporter of forged bars of stainless steel in Eastern Asia, with the volume of exports amounting to X tons, which was near X% of total exports in 2023. Taiwan (Chinese) (X tons) ranks second in terms of the total exports with a X% share, followed by South Korea (X%). Japan (X tons) held a minor share of total exports.

From 2012 to 2023, the biggest increases were recorded for China (with a CAGR of X%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, the largest forged stainless steel bar supplying countries in Eastern Asia were China ($X), Taiwan (Chinese) ($X) and South Korea ($X), with a combined X% share of total exports.

Among the main exporting countries, China, 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 leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2023, the export price in Eastern Asia amounted to $X per ton, with a decrease of X% against the previous year. Over the last eleven-year period, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2013 when the export price increased by X%. Over the period under review, the export prices hit record highs at $X per ton in 2022, and then contracted in the following year.

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 Japan ($X per ton), while China ($X per ton) was amongst the lowest.

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

Imports of Forged Bars Of Stainless Steel

Imports in Eastern Asia

In 2023, purchases abroad of forged bars of stainless steel increased by X% to X tons for the first time since 2020, thus ending a two-year declining trend. In general, imports, however, showed a pronounced curtailment. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X tons in 2020; however, from 2021 to 2023, imports remained at a lower figure.

In value terms, forged stainless steel bar imports totaled $X in 2023. Over the period under review, imports, however, continue to indicate a perceptible contraction. The growth pace was the most rapid in 2016 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2020; however, from 2021 to 2023, imports remained at a lower figure.

Imports by Country

In 2023, China (X tons) and South Korea (X tons) were the key importers of forged bars of stainless steel in Eastern Asia, together generating X% of total imports. It was distantly followed by Taiwan (Chinese) (X tons) and Japan (X tons), together committing a X% share of total imports.

From 2012 to 2023, the biggest increases were recorded for China (with a CAGR of X%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, China ($X) constitutes the largest market for imported forged bars of stainless steel in Eastern Asia, comprising X% of total imports. The second position in the ranking was held by South Korea ($X), with a X% share of total imports. It was followed by Taiwan (Chinese), with a X% share.

In China, forged stainless steel bar imports expanded at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: South Korea (X% per year) and Taiwan (Chinese) (X% per year).

Import Prices by Country

In 2023, the import price in Eastern Asia amounted to $X per ton, falling by X% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of X% against the previous year. The level of import peaked at $X per ton in 2015; however, from 2016 to 2023, import prices stood at a somewhat lower figure.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Japan (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform