ASEAN: Market for Hot-Rolled Round Bars Of Stainless Steel 2025

Market Size for Hot-Rolled Round Bars Of Stainless Steel in ASEAN

The ASEAN hot-rolled round stainless steel market shrank to $X in 2021, dropping by -13.8% against the previous year. The total consumption indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +6.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +69.6% against 2016 indices. As a result, consumption reached the peak level of $X, and then reduced in the following year.

Production of Hot-Rolled Round Bars Of Stainless Steel in ASEAN

In value terms, hot-rolled round stainless steel production reduced dramatically to $X in 2021 estimated in export price. Overall, production, however, posted a remarkable increase. The pace of growth appeared the most rapid in 2020 with an increase of 65% against the previous year. As a result, production attained the peak level of $X, and then fell markedly in the following year.

Exports of Hot-Rolled Round Bars Of Stainless Steel

Exports in ASEAN

In 2021, exports of hot-rolled round bars of stainless steel in ASEAN soared to X tons, increasing by 72% against the year before. Over the period under review, exports showed a strong increase. The pace of growth was the most pronounced in 2015 with an increase of 101%. The volume of export peaked in 2021 and is expected to retain growth in the near future.

In value terms, hot-rolled round stainless steel exports soared to $X in 2021. In general, exports continue to indicate a strong increase. The most prominent rate of growth was recorded in 2015 when exports increased by 102%. Over the period under review, the exports hit record highs in 2021 and are likely to see steady growth in the immediate term.

Exports by Country

Singapore (X tons) and Malaysia (X tons) represented the main exporters of hot-rolled round bars of stainless steel in 2021, finishing at near 45% and 33% of total exports, respectively. Thailand (X tons) took a 17% share (based on physical terms) of total exports, which put it in second place, followed by Vietnam (5.9%).

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Vietnam (with a CAGR of +37.4%), while the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X) remains the largest hot-rolled round stainless steel supplier in ASEAN, comprising 66% of total exports. The second position in the ranking was held by Malaysia ($X), with a 23% share of total exports. It was followed by Vietnam, with a 5.5% share.

In Singapore, hot-rolled round stainless steel exports expanded at an average annual rate of +17.3% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Malaysia (+32.3% per year) and Vietnam (+43.9% per year).

Export Prices by Country

In 2021, the export price in ASEAN amounted to $X per ton, declining by -9.4% against the previous year. Export price indicated slight growth from 2012 to 2021: its price increased at an average annual rate of +1.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, hot-rolled round stainless steel export price increased by +80.1% against 2017 indices. The most prominent rate of growth was recorded in 2020 an increase of 52% against the previous year. As a result, the export price reached the peak level of $X per ton, and then fell in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+4.8%), while the other leaders experienced more modest paces of growth.

Imports of Hot-Rolled Round Bars Of Stainless Steel

Imports in ASEAN

In 2021, overseas purchases of hot-rolled round bars of stainless steel were finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Total imports indicated a resilient increase from 2012 to 2021: its volume increased at an average annual rate of +5.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, hot-rolled round stainless steel imports surged to $X in 2021. In general, imports posted prominent growth. The most prominent rate of growth was recorded in 2018 when imports increased by 56% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the immediate term.

Imports by Country

Vietnam (X tons) and Indonesia (X tons) represented roughly 55% of total imports in 2021. It was distantly followed by Malaysia (X tons), Singapore (X tons) and Thailand (X tons), together mixing up a 39% share of total imports. The Philippines (X tons) and Cambodia (X tons) took a relatively small share of total imports.

From 2012 to 2021, the biggest increases were recorded for Cambodia (with a CAGR of +36.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), Singapore ($X) and Malaysia ($X) were the countries with the highest levels of imports in 2021, together comprising 71% of total imports. These countries were followed by Indonesia, Thailand, the Philippines and Cambodia, which together accounted for a further 29%.

Cambodia, with a CAGR of +36.2%, saw the highest rates of growth with regard to the value of imports, in terms of 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

The import price in ASEAN stood at $X per ton in 2021, waning by -15.7% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of 14%. Over the period under review, import prices attained the peak figure at $X per ton in 2020, and then reduced markedly in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+6.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform