Eastern Asia: Market for Wire Rod Of Free-Cutting Steel 2024

Market Size for Wire Rod Of Free-Cutting Steel in Eastern Asia

The East Asian free-cutting steel wire rod market skyrocketed to $X in 2022, with an increase of X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Wire Rod Of Free-Cutting Steel in Eastern Asia

In value terms, free-cutting steel wire rod production shrank slightly to $X in 2022 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the production volume increased by X%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Exports of Wire Rod Of Free-Cutting Steel

Exports in Eastern Asia

In 2022, exports of wire rod of free-cutting steel in Eastern Asia dropped rapidly to X tons, declining by X% on 2021. In general, exports recorded a abrupt decline. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, the exports reached the peak figure at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, free-cutting steel wire rod exports fell significantly to $X in 2022. Overall, exports showed a pronounced slump. The growth pace was the most rapid in 2021 with an increase of X%. As a result, the exports attained the peak of $X, and then fell dramatically in the following year.

Exports by Country

Japan dominates exports structure, reaching X tons, which was near X% of total exports in 2022. It was distantly followed by China (X tons), mixing up a X% share of total exports. South Korea (X tons) held a minor share of total exports.

From 2012 to 2022, average annual rates of growth with regard to free-cutting steel wire rod exports from Japan stood at X%. At the same time, China (X%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of X% from 2012-2022. By contrast, South Korea (X%) illustrated a downward trend over the same period. Japan (X p.p.) and China (X p.p.) significantly strengthened its position in terms of the total exports, while South Korea saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, Japan ($X) remains the largest free-cutting steel wire rod supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was held by China ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Japan was relatively modest. The remaining exporting countries recorded the following average annual rates of exports growth: China (X% per year) and South Korea (X% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, picking up by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The growth pace was the most rapid in 2018 when the export price increased by X% against the previous year. Over the period under review, the export prices attained the peak figure in 2022 and is likely to continue growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the other leaders experienced mixed trends in the export price figures.

Imports of Wire Rod Of Free-Cutting Steel

Imports in Eastern Asia

In 2022, free-cutting steel wire rod imports in Eastern Asia declined sharply to X tons, with a decrease of X% on the year before. Overall, imports recorded a noticeable contraction. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, free-cutting steel wire rod imports plummeted to $X in 2022. In general, imports saw a pronounced decrease. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of $X, and then reduced dramatically in the following year.

Imports by Country

The countries with the highest levels of free-cutting steel wire rod imports in 2022 were South Korea (X tons), Taiwan (Chinese) (X tons) and China (X tons), together resulting at X% of total import.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of X%), while purchases for the other leaders experienced a decline in the imports figures.

In value terms, the largest free-cutting steel wire rod importing markets in Eastern Asia were South Korea ($X), China ($X) and Taiwan (Chinese) ($X), together accounting for X% of total imports.

In terms of the main importing countries, South Korea, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, increasing by X% against the previous year. Import price indicated a slight 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, free-cutting steel wire rod import price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the import price increased by X% against the previous year. The level of import peaked in 2022 and is likely to see steady growth in the near future.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :