ASEAN: Hot-Rolled Free-Cutting Steel Market 2025

Hot-Rolled Free-Cutting Steel Market Size in ASEAN

The ASEAN hot-rolled free-cutting steel market was finally on the rise to reach $X in 2021, after three years of decline. Overall, consumption showed a abrupt shrinkage. Over the period under review, the market attained the peak level at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Hot-Rolled Free-Cutting Steel Production in ASEAN

In value terms, hot-rolled free-cutting steel production expanded rapidly to $X in 2021 estimated in export price. In general, production saw a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the production volume increased by 7.3%. Over the period under review, production attained the maximum level at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Hot-Rolled Free-Cutting Steel Exports

Exports in ASEAN

In 2021, shipments abroad of hot-rolled bars in free-cutting steels was finally on the rise to reach X tons for the first time since 2014, thus ending a six-year declining trend. Over the period under review, exports, however, saw a abrupt downturn. The growth pace was the most rapid in 2014 when exports increased by 93% against the previous year. As a result, the exports reached the peak of X tons. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, hot-rolled free-cutting steel exports reduced modestly to $X in 2021. In general, exports, however, continue to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2014 with an increase of 80% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Thailand dominates exports structure, amounting to X tons, which was near 88% of total exports in 2021. It was distantly followed by Vietnam (X tons), constituting an 8.7% share of total exports.

Exports from Thailand decreased at an average annual rate of -18.9% from 2012 to 2021. Vietnam (-16.8%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Thailand and Vietnam increased by +5.9 and +2.2 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) remains the largest hot-rolled free-cutting steel supplier in ASEAN, comprising 82% of total exports. The second position in the ranking was held by Vietnam ($X), with an 11% share of total exports.

In Thailand, hot-rolled free-cutting steel exports contracted by an average annual rate of -18.9% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in ASEAN amounted to $X per ton, falling by -3.7% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 38%. Over the period under review, the export prices hit record highs at $X per ton in 2020, and then reduced in the following year.

Average prices varied somewhat amongst the major exporting countries. In 2021, the country with the highest price was Vietnam ($X per ton), while Thailand stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+0.1%).

Hot-Rolled Free-Cutting Steel Imports

Imports in ASEAN

In 2021, purchases abroad of hot-rolled bars in free-cutting steels decreased by -27.6% to X tons, falling for the fourth year in a row after two years of growth. Over the period under review, imports saw a precipitous curtailment. The pace of growth appeared the most rapid in 2013 when imports increased by 54%. The volume of import peaked at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, hot-rolled free-cutting steel imports shrank slightly to $X in 2021. Overall, imports faced a dramatic curtailment. The most prominent rate of growth was recorded in 2017 with an increase of 69% against the previous year. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Myanmar (X tons) and Singapore (X tons) represented roughly 54% of total imports in 2021. Lao People's Democratic Republic (X tons) took the next position in the ranking, followed by Thailand (X tons) and Malaysia (X tons). All these countries together held near 35% share of total imports. The following importers - Cambodia (X tons) and Indonesia (X tons) - together made up 7.2% of total imports.

From 2012 to 2021, the biggest increases were recorded for Myanmar (with a CAGR of +35.0%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, Myanmar ($X), Singapore ($X) and Thailand ($X) appeared to be the countries with the highest levels of imports in 2021, together comprising 66% of total imports. These countries were followed by Lao People's Democratic Republic, Malaysia, Indonesia and Cambodia, which together accounted for a further 29%.

Cambodia, with a CAGR of +38.0%, 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 mixed trends in the imports figures.

Import Prices by Country

In 2021, the import price in ASEAN amounted to $X per ton, jumping by 37% against the previous year. Over the period under review, the import price saw a mild increase. The growth pace was the most rapid in 2017 when the import price increased by 48%. The level of import peaked in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Thailand ($X per ton), while Lao People's Democratic Republic ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cambodia (+8.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform