Asia: Iron Angle Market 2024

Iron Angle Market Size in Asia

The Asian iron angle market fell to $X in 2021, reducing by -14.1% against the previous year. The total consumption indicated a temperate increase from 2012 to 2021: its value increased at an average annual rate of +4.7% 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 +54.5% against 2016 indices. As a result, consumption reached the peak level of $X, and then reduced in the following year.

Iron Angle Production in Asia

In value terms, iron angle production contracted to $X in 2021 estimated in export price. In general, production, however, showed a prominent expansion. The growth pace was the most rapid in 2018 when the production volume increased by 46%. The level of production peaked at $X in 2020, and then contracted in the following year.

Iron Angle Exports

Exports in Asia

After two years of decline, overseas shipments of angles, shapes and sections (of iron or non-alloy steel) increased by 17% to X tons in 2021. Over the period under review, exports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of 19%. As a result, the exports reached the peak of X tons. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, iron angle exports skyrocketed to $X in 2021. Total exports indicated a notable expansion from 2012 to 2021: its value increased at an average annual rate of +2.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, Turkey (X tons) and China (X tons) were the major exporters of angles, shapes and sections (of iron or non-alloy steel) in Asia, together recording approx. 51% of total exports. South Korea (X tons) held a 13% share (based on physical terms) of total exports, which put it in second place, followed by Thailand (11%) and Japan (7.5%). The following exporters - the United Arab Emirates (X tons) and Taiwan (Chinese) (X tons) - together made up 7.1% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by the United Arab Emirates (with a CAGR of +15.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest iron angle supplying countries in Asia were China ($X), Turkey ($X) and South Korea ($X), together accounting for 67% of total exports. Thailand, Japan, the United Arab Emirates and Taiwan (Chinese) lagged somewhat behind, together comprising a further 24%.

In terms of the main exporting countries, the United Arab Emirates, with a CAGR of +12.7%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in Asia amounted to $X per ton, jumping by 40% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.7%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+6.2%), while the other leaders experienced more modest paces of growth.

Iron Angle Imports

Imports in Asia

In 2021, the amount of angles, shapes and sections (of iron or non-alloy steel) imported in Asia dropped to X tons, with a decrease of -9.2% against the year before. Overall, imports continue to indicate a noticeable curtailment. The growth pace was the most rapid in 2015 with an increase of 8.2% against the previous year. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, iron angle imports soared to $X in 2021. Over the period under review, imports saw a noticeable reduction. The pace of growth was the most pronounced in 2018 with an increase of 23% against the previous year. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, South Korea (X tons), distantly followed by Hong Kong SAR (X tons), Malaysia (X tons), the Philippines (X tons), China (X tons), Turkey (X tons) and Kazakhstan (X tons) represented the main importers of angles, shapes and sections (of iron or non-alloy steel), together mixing up 61% of total imports. The following importers - Singapore (X tons), the United Arab Emirates (X tons), Indonesia (X tons), Afghanistan (X tons), Saudi Arabia (X tons) and Taiwan (Chinese) (X tons) - together made up 18% of total imports.

Imports into South Korea decreased at an average annual rate of -1.3% from 2012 to 2021. At the same time, the Philippines (+26.4%), Afghanistan (+8.9%), Hong Kong SAR (+2.7%) and Taiwan (Chinese) (+2.2%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing importer imported in Asia, with a CAGR of +26.4% from 2012-2021. Kazakhstan and Malaysia experienced a relatively flat trend pattern. By contrast, Indonesia (-2.7%), China (-3.6%), Turkey (-6.2%), Singapore (-10.2%), the United Arab Emirates (-11.1%) and Saudi Arabia (-19.7%) illustrated a downward trend over the same period. While the share of the Philippines (+5.3 p.p.), Hong Kong SAR (+4.1 p.p.), South Korea (+4 p.p.), Malaysia (+2 p.p.) and Afghanistan (+1.8 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Singapore (-3.8 p.p.), the United Arab Emirates (-4.2 p.p.) and Saudi Arabia (-10.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Korea ($X), Hong Kong SAR ($X) and Malaysia ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 35% share of total imports. China, the Philippines, Kazakhstan, Turkey, Singapore, the United Arab Emirates, Indonesia, Saudi Arabia, Taiwan (Chinese) and Afghanistan lagged somewhat behind, together accounting for a further 43%.

Among the main importing countries, the Philippines, with a CAGR of +25.5%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Asia amounted to $X per ton, with an increase of 33% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was China ($X per ton), while Afghanistan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+2.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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