Asia-Pacific: Metal Bath Market 2024

Metal Bath Market Size in Asia-Pacific

The Asia-Pacific metal bath market totaled $X in 2021, growing by 2% against the previous year. The total consumption indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +9.7% 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 decreased by -0.5% against 2019 indices. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Metal Bath Production in Asia-Pacific

In value terms, metal bath production reached $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.3% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when the production volume increased by 10%. The level of production peaked at $X in 2016; however, from 2017 to 2021, production failed to regain momentum.

Metal Bath Exports

Exports in Asia-Pacific

In 2021, shipments abroad of baths of iron or steel was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. In general, exports, however, showed a abrupt shrinkage. The pace of growth appeared the most rapid in 2017 with an increase of 29%. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, metal bath exports surged to $X in 2021. Overall, exports, however, showed a abrupt descent. The most prominent rate of growth was recorded in 2018 when exports increased by 25%. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

China dominates exports structure, finishing at X tons, which was near 90% of total exports in 2021. The following exporters - India (X tons) and Singapore (X tons) - together made up 4.8% of total exports.

Exports from China decreased at an average annual rate of -12.1% from 2012 to 2021. At the same time, India (+1.6%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +1.6% from 2012-2021. By contrast, Singapore (-8.8%) illustrated a downward trend over the same period. While the share of India (+1.8 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of China (-5.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest metal bath supplier in Asia-Pacific, comprising 83% of total exports. The second position in the ranking was held by India ($X), with a 5.5% share of total exports.

In China, metal bath exports declined by an average annual rate of -8.4% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: India (+8.0% per year) and Singapore (-6.3% per year).

Export Prices by Country

In 2021, the export price in Asia-Pacific amounted to $X per ton, with an increase of 11% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +4.5%. The pace of growth was the most pronounced in 2018 an increase of 20% against the previous year. The level of export peaked in 2021 and is expected to retain growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+6.3%), while the other leaders experienced more modest paces of growth.

Metal Bath Imports

Imports in Asia-Pacific

In 2021, after two years of decline, there was significant growth in purchases abroad of baths of iron or steel, when their volume increased by 18% to X tons. Total imports indicated measured growth from 2012 to 2021: its volume increased at an average annual rate of +2.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -29.7% against 2018 indices. The pace of growth was the most pronounced in 2017 when imports increased by 21% against the previous year. The volume of import peaked at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, metal bath imports surged to $X in 2021. The total import value increased at an average annual rate of +3.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

The countries with the highest levels of metal bath imports in 2021 were India (X tons), China (X tons), Australia (X tons), Pakistan (X tons), Hong Kong SAR (X tons), Nepal (X tons) and South Korea (X tons), together recording 78% of total import. Indonesia (X tons), Taiwan (Chinese) (X tons), Singapore (X tons), New Zealand (X tons), Sri Lanka (X tons) and the Philippines (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by South Korea (with a CAGR of +20.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, India ($X), China ($X) and Australia ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 60% share of total imports. Hong Kong SAR, South Korea, Pakistan, Nepal, Indonesia, Taiwan (Chinese), Singapore, New Zealand, the Philippines and Sri Lanka lagged somewhat behind, together accounting for a further 30%.

South Korea, with a CAGR of +24.6%, saw the highest growth rate of 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 Asia-Pacific stood at $X per ton in 2021, surging by 17% against the previous year. Over the period under review, the import price saw mild growth. The most prominent rate of growth was recorded in 2020 when the import price increased by 19% against the previous year. Over the period under review, import prices reached the maximum in 2021 and is likely to continue growth in years to come.

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 India ($X per ton), while Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+3.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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