Asia-Pacific: Market for Hot-Rolled Bars Of High Speed Steel 2024

Market Size for Hot-Rolled Bars Of High Speed Steel in Asia-Pacific

The Asia-Pacific market for hot-rolled bars of high speed steel declined slightly to $X in 2022, remaining constant against the previous year. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market failed to regain momentum.

Production of Hot-Rolled Bars Of High Speed Steel in Asia-Pacific

In value terms, hot-rolled high speed steel bar production reduced slightly 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 2016 when the production volume increased by 17%. As a result, production reached the peak level of $X. From 2017 to 2022, production growth remained at a somewhat lower figure.

Exports of Hot-Rolled Bars Of High Speed Steel

Exports in Asia-Pacific

In 2022, shipments abroad of hot-rolled bars of high speed steel increased by 4% to X tons, rising for the second year in a row after three years of decline. Overall, exports, however, recorded a noticeable curtailment. The pace of growth was the most pronounced in 2021 when exports increased by 20% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, hot-rolled high speed steel bar exports rose sharply to $X in 2022. 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 25% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

China was the key exporting country with an export of about X tons, which finished at 52% of total exports. Japan (X tons) took a 14% share (based on physical terms) of total exports, which put it in second place, followed by Singapore (8.9%), India (8.6%), Thailand (8.5%) and Taiwan (Chinese) (5.7%).

China experienced a relatively flat trend pattern with regard to volume of exports of hot-rolled bars of high speed steel. At the same time, Japan (+2.3%) displayed positive paces of growth. Moreover, Japan emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +2.3% from 2012-2022. By contrast, Singapore (-4.3%), Taiwan (Chinese) (-7.4%), India (-9.1%) and Thailand (-12.8%) illustrated a downward trend over the same period. While the share of China (+17 p.p.) and Japan (+6.7 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Taiwan (Chinese) (-2.6 p.p.), India (-6.5 p.p.) and Thailand (-14 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest hot-rolled high speed steel bar supplier in Asia-Pacific, comprising 58% of total exports. The second position in the ranking was taken by Japan ($X), with a 27% share of total exports. It was followed by Taiwan (Chinese), with a 6.5% share.

From 2012 to 2022, the average annual growth rate of value in China was relatively modest. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (+0.8% per year) and Taiwan (Chinese) (-1.8% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2022, rising by 8.8% against the previous year. Export price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, hot-rolled high speed steel bar export price increased by +13.6% against 2020 indices. The most prominent rate of growth was recorded in 2015 an increase of 45%. Over the period under review, the export prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($X per ton), while Thailand ($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) (+6.1%), while the other leaders experienced more modest paces of growth.

Imports of Hot-Rolled Bars Of High Speed Steel

Imports in Asia-Pacific

In 2022, supplies from abroad of hot-rolled bars of high speed steel increased by 16% to X tons, rising for the second consecutive year after two years of decline. In general, imports, however, saw a abrupt curtailment. The pace of growth was the most pronounced in 2014 with an increase of 39%. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, hot-rolled high speed steel bar imports totaled $X in 2022. Over the period under review, imports, however, continue to indicate a pronounced decrease. The most prominent rate of growth was recorded in 2021 when imports increased by 30% 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

In 2022, Brunei Darussalam (X tons), distantly followed by Taiwan (Chinese) (X tons), China (X tons), South Korea (X tons), India (X tons), Thailand (X tons) and Singapore (X tons) were the main importers of hot-rolled bars of high speed steel, together committing 84% of total imports.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +24.2%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest hot-rolled high speed steel bar importing markets in Asia-Pacific were China ($X), Taiwan (Chinese) ($X) and South Korea ($X), together comprising 59% of total imports. India, Thailand, Singapore and Brunei Darussalam lagged somewhat behind, together accounting for a further 27%.

In terms of the main importing countries, Thailand, with a CAGR of +20.8%, recorded the highest growth rate of 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

The import price in Asia-Pacific stood at $X per ton in 2022, which is down by -10.1% against the previous year. Overall, the import price, however, enjoyed a remarkable increase. The pace of growth was the most pronounced in 2019 an increase of 63%. The level of import peaked at $X per ton in 2021, and then reduced in the following year.

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 ($X per ton), while Brunei Darussalam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+19.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :