Asia-Pacific: Market for Hot-Rolled Bars Of Silico-Manganese Steel 2024

Market Size for Hot-Rolled Bars Of Silico-Manganese Steel in Asia-Pacific

In 2021, the Asia-Pacific hot-rolled silico-manganese steel bar market decreased by -5.1% to $X, falling for the third consecutive year after two years of growth. In general, consumption showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market remained at a somewhat lower figure.

Production of Hot-Rolled Bars Of Silico-Manganese Steel in Asia-Pacific

In value terms, hot-rolled silico-manganese steel bar production reduced to $X in 2021 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 22% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a somewhat lower figure.

Exports of Hot-Rolled Bars Of Silico-Manganese Steel

Exports in Asia-Pacific

For the fourth consecutive year, Asia-Pacific recorded growth in overseas shipments of hot-rolled bars of silico-manganese steel, which increased by 53% to X tons in 2021. Overall, exports enjoyed a resilient increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, hot-rolled silico-manganese steel bar exports skyrocketed to $X in 2021. In general, exports saw strong growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

South Korea (X tons) and Japan (X tons) prevails in exports structure, together achieving 87% of total exports. It was distantly followed by China (X tons), creating an 8.9% share of total exports. Hong Kong SAR (X tons) held a relatively small share of total exports.

From 2012 to 2021, the biggest increases were recorded for Hong Kong SAR (with a CAGR of +45.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest hot-rolled silico-manganese steel bar supplying countries in Asia-Pacific were South Korea ($X), Japan ($X) and China ($X), together accounting for 96% of total exports. Hong Kong SAR lagged somewhat behind, comprising a further 0.7%.

Hong Kong SAR, with a CAGR of +44.2%, saw the highest rates of growth with regard to the value of exports, in terms of 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, rising by 1.6% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the export price increased by 30% against the previous year. Over the period under review, the export prices reached the maximum at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was South Korea ($X per ton), while Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+4.1%), while the other leaders experienced a decline in the export price figures.

Imports of Hot-Rolled Bars Of Silico-Manganese Steel

Imports in Asia-Pacific

In 2021, purchases abroad of hot-rolled bars of silico-manganese steel increased by 5.4% to X tons, rising for the fourth consecutive year after two years of decline. Overall, imports posted a pronounced increase. The most prominent rate of growth was recorded in 2015 when imports increased by 65% against the previous year. As a result, imports reached the peak of X tons. From 2016 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, hot-rolled silico-manganese steel bar imports skyrocketed to $X in 2021. Total imports indicated a mild expansion from 2012 to 2021: its value increased at an average annual rate of +1.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +60.9% against 2017 indices. The most prominent rate of growth was recorded in 2015 when imports increased by 35% against the previous year. As a result, imports attained the peak of $X. From 2016 to 2021, the growth of imports remained at a lower figure.

Imports by Country

The Philippines (X tons), China (X tons) and Indonesia (X tons) represented roughly 73% of total imports in 2021. It was distantly followed by Thailand (X tons), making up a 13% share of total imports. The following importers - India (X tons), Malaysia (X tons) and Japan (X tons) - each accounted for a 6.2% share of total imports.

From 2012 to 2021, the biggest increases were recorded for the Philippines (with a CAGR of +41.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), China ($X) and the Philippines ($X) constituted the countries with the highest levels of imports in 2021, together comprising 69% of total imports.

The Philippines, with a CAGR of +38.2%, saw 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

In 2021, the import price in Asia-Pacific amounted to $X per ton, with an increase of 16% against the previous year. Overall, the import price, however, showed a slight contraction. The most prominent rate of growth was recorded in 2016 when the import price increased by 20% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+0.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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