Asia: Cold-Rolled Steel Products Market 2025

Cold-Rolled Steel Products Market Size in Asia

The Asian cold-rolled steel products market soared to $X in 2022, with an increase of 54% against the previous year. Overall, consumption recorded a relatively flat trend pattern. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Cold-Rolled Steel Products Production in Asia

In value terms, cold-rolled steel products production shrank to $X in 2022 estimated in export price. In general, production showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the production volume increased by 17% against the previous year. As a result, production reached the peak level of $X, and then fell in the following year.

Cold-Rolled Steel Products Exports

Exports in Asia

In 2022, exports of flat-rolled products of iron or steel (not further worked than cold-rolled) in Asia dropped notably to X tons, which is down by -15.6% against the year before. In general, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 40%. As a result, the exports reached the peak of X tons, and then dropped remarkably in the following year.

In value terms, cold-rolled steel products exports rose modestly to $X in 2022. Total exports indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +81.7% against 2020 indices. The pace of growth was the most pronounced in 2021 when exports increased by 75%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

Exports by Country

The biggest shipments were from China (X tons), South Korea (X tons) and Japan (X tons), together finishing at 71% of total export. It was distantly followed by Taiwan (Chinese) (X tons), committing a 9.6% share of total exports. Indonesia (X tons), Turkey (X tons) and India (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Indonesia (with a CAGR of +22.8%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the largest cold-rolled steel products supplier in Asia, comprising 43% of total exports. The second position in the ranking was taken by Japan ($X), with a 16% share of total exports. It was followed by South Korea, with a 13% share.

In China, cold-rolled steel products exports expanded at an average annual rate of +11.7% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Japan (-1.1% per year) and South Korea (-2.9% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, surging by 23% against the previous year. Export price indicated perceptible growth from 2012 to 2022: its price increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cold-rolled steel products export price increased by +53.6% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of 25%. Over the period under review, the export prices attained the peak figure in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while South Korea ($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 (+7.3%), while the other leaders experienced more modest paces of growth.

Cold-Rolled Steel Products Imports

Imports in Asia

In 2022, supplies from abroad of flat-rolled products of iron or steel (not further worked than cold-rolled) increased by 1.8% to X tons, rising for the second year in a row after three years of decline. Overall, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 14% against the previous year. The volume of import peaked at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, cold-rolled steel products imports soared to $X in 2022. Total imports indicated a modest increase from 2012 to 2022: its value increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +64.1% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 39%. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Imports by Country

In 2022, China (X tons), distantly followed by Indonesia (X tons), Turkey (X tons), Thailand (X tons), India (X tons), Japan (X tons), South Korea (X tons) and Malaysia (X tons) were the main importers of flat-rolled products of iron or steel (not further worked than cold-rolled), together creating 73% of total imports. Vietnam (X tons), the Philippines (X tons), Taiwan (Chinese) (X tons), the United Arab Emirates (X tons) and Pakistan (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +10.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constitutes the largest market for imported flat-rolled products of iron or steel (not further worked than cold-rolled) in Asia, comprising 25% of total imports. The second position in the ranking was taken by Turkey ($X), with a 12% share of total imports. It was followed by Indonesia, with an 8.7% share.

In China, cold-rolled steel products imports increased at an average annual rate of +1.5% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Turkey (+5.6% per year) and Indonesia (+3.4% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, jumping by 16% against the previous year. Over the last decade, it increased at an average annual rate of +1.8%. The growth pace was the most rapid in 2021 an increase of 22%. Over the period under review, import prices hit record highs in 2022 and is expected to retain growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Pakistan (+6.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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