Asia-Pacific: Hot-Rolled Steel Products Market 2025

Hot-Rolled Steel Products Market Size in Asia-Pacific

The Asia-Pacific hot-rolled steel products market shrank modestly to $X in 2021, which is down by -1.8% against the previous year. The market value increased at an average annual rate of +2.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2020, and then dropped modestly in the following year.

Hot-Rolled Steel Products Production in Asia-Pacific

In value terms, hot-rolled steel products production fell to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 with an increase of 23% against the previous year. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Hot-Rolled Steel Products Exports

Exports in Asia-Pacific

Hot-rolled steel products exports expanded markedly to X tons in 2021, picking up by 5.3% on 2020 figures. The total export volume increased at an average annual rate of +2.3% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 with an increase of 21%. Over the period under review, the exports attained the peak figure at X tons in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, hot-rolled steel products exports soared to $X in 2021. Total exports indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +4.3% over the last nine-year period. 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

Japan (X tons) and China (X tons) represented roughly 55% of total exports in 2021. South Korea (X tons) held the next position in the ranking, followed by India (X tons), Taiwan (Chinese) (X tons) and Indonesia (X tons). All these countries together held near 41% share of total exports. Vietnam (X tons) followed a long way behind the leaders.

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

In value terms, Japan ($X), China ($X) and South Korea ($X) were the countries with the highest levels of exports in 2021, together accounting for 67% of total exports. India, Indonesia, Taiwan (Chinese) and Vietnam lagged somewhat behind, together accounting for a further 31%.

Indonesia, with a CAGR of +51.6%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries 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-Pacific amounted to $X per ton, picking up by 60% against the previous year. Export price indicated a mild increase from 2012 to 2021: its price increased at an average annual rate of +1.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. 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 Indonesia ($X per ton), while Japan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+10.7%), while the other leaders experienced more modest paces of growth.

Hot-Rolled Steel Products Imports

Imports in Asia-Pacific

In 2021, hot-rolled steel products imports in Asia-Pacific declined to X tons, which is down by -13.3% against the previous year. In general, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with an increase of 6.1%. The volume of import peaked at X tons in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, hot-rolled steel products imports soared to $X in 2021. Over the period under review, imports, however, saw a relatively flat trend pattern. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The purchases of the four major importers of flat-rolled products of iron or steel (not further worked than hot-rolled), namely Vietnam, South Korea, Thailand and China, represented more than half of total import. Malaysia (X tons) ranks next in terms of the total imports with a 6.5% share, followed by Pakistan (6.1%), Taiwan (Chinese) (5.7%), Japan (5.4%), India (4.9%) and Indonesia (4.7%).

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Pakistan (with a CAGR of +14.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), South Korea ($X) and China ($X) constituted the countries with the highest levels of imports in 2021, together accounting for 44% of total imports. These countries were followed by Thailand, Taiwan (Chinese), Malaysia, India, Japan, Indonesia and Pakistan, which together accounted for a further 47%.

Pakistan, with a CAGR of +14.6%, saw the highest rates of growth with regard to the value of imports, among 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, with an increase of 55% against the previous year. Import price indicated a mild expansion 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. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+3.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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