Asia-Pacific: Market for Forged Bars Of Stainless Steel 2025

Market Size for Forged Bars Of Stainless Steel in Asia-Pacific

The Asia-Pacific forged stainless steel bar market dropped slightly to $X in 2022, reducing by X% against the previous year. Over the period under review, consumption saw a relatively flat trend pattern. The level of consumption peaked at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Production of Forged Bars Of Stainless Steel in Asia-Pacific

In value terms, forged stainless steel bar production dropped to $X in 2022 estimated in export price. Overall, production saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Exports of Forged Bars Of Stainless Steel

Exports in Asia-Pacific

Forged stainless steel bar exports reduced to X tons in 2022, dropping by X% on 2021 figures. In general, exports, however, saw a pronounced expansion. The most prominent rate of growth was recorded in 2019 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, forged stainless steel bar exports fell to $X in 2022. Overall, exports, however, enjoyed a resilient increase. The pace of growth appeared the most rapid in 2018 with an increase of X%. The level of export peaked at $X in 2021, and then reduced in the following year.

Exports by Country

India represented the key exporting country with an export of about X tons, which recorded X% of total exports. China (X tons) ranks second in terms of the total exports with a X% share, followed by Singapore (X%). The following exporters - South Korea (X tons), Taiwan (Chinese) (X tons), Japan (X tons) and Thailand (X tons) - together made up X% of total exports.

India was also the fastest-growing in terms of the forged bars of stainless steel exports, with a CAGR of X% from 2012 to 2022. At the same time, South Korea (X%) and China (X%) displayed positive paces of growth. By contrast, Japan (X%), Singapore (X%), Thailand (X%) and Taiwan (Chinese) (X%) illustrated a downward trend over the same period. While the share of India (X p.p.) and Taiwan (Chinese) (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Japan (X p.p.), Thailand (X p.p.) and Singapore (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) remains the largest forged stainless steel bar supplier in Asia-Pacific, comprising X% of total exports. The second position in the ranking was taken by China ($X), with a X% share of total exports. It was followed by Singapore, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in India stood at X%. The remaining exporting countries recorded the following average annual rates of exports growth: China (X% per year) and Singapore (X% per year).

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per ton, surging by X% against the previous year. Overall, the export price posted a pronounced expansion. The growth pace was the most rapid in 2021 when the export price increased by X% against the previous year. Over the period under review, the export prices reached the maximum in 2022 and is expected to retain growth in years to come.

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

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

Imports of Forged Bars Of Stainless Steel

Imports in Asia-Pacific

After two years of growth, purchases abroad of forged bars of stainless steel decreased by X% to X tons in 2022. Over the period under review, imports saw a perceptible decrease. The pace of growth was the most pronounced in 2014 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, forged stainless steel bar imports expanded rapidly to $X in 2022. In general, imports continue to indicate a noticeable curtailment. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

The purchases of the ten major importers of forged bars of stainless steel, namely Singapore, South Korea, China, Thailand, Indonesia, India, Malaysia, Australia, Pakistan and Vietnam, represented more than two-thirds of total import.

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

In value terms, the largest forged stainless steel bar importing markets in Asia-Pacific were South Korea ($X), China ($X) and Singapore ($X), with a combined X% share of total imports. Thailand, India, Australia, Malaysia, Indonesia, Vietnam and Pakistan lagged somewhat behind, together accounting for a further X%.

Pakistan, with a CAGR of X%, recorded 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 Asia-Pacific stood at $X per ton in 2022, rising by X% against the previous year. Import price indicated a mild expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, forged stainless steel bar import price increased by X% against 2020 indices. The pace of growth was the most pronounced in 2018 an increase of X% against the previous year. The level of import peaked in 2022 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while Pakistan ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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