Asia-Pacific: Market for Hot-Rolled Wire Rod In Coil Of Stainless Steel 2025

Market Size for Hot-Rolled Wire Rod In Coil Of Stainless Steel in Asia-Pacific

The Asia-Pacific market for hot-rolled wire rod in coil of stainless steel skyrocketed to $X in 2022, picking up by 22% against the previous year. Over the period under review, consumption saw a relatively flat trend pattern. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Hot-Rolled Wire Rod In Coil Of Stainless Steel in Asia-Pacific

In value terms, hot-rolled wire stainless steel rod production fell to $X in 2022 estimated in export price. In general, production showed a slight contraction. The most prominent rate of growth was recorded in 2018 when the production volume increased by 6.6% against the previous year. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Hot-Rolled Wire Rod In Coil Of Stainless Steel

Exports in Asia-Pacific

In 2022, approx. X tons of hot-rolled wire rod in coil of stainless steel were exported in Asia-Pacific; dropping by -14.9% against the previous year. The total export volume increased at an average annual rate of +2.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of 23% against the previous year. Over the period under review, the exports hit record highs at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, hot-rolled wire stainless steel rod exports fell modestly to $X in 2022. Total exports indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +57.4% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 61%. As a result, the exports attained the peak of $X, and then declined modestly in the following year.

Exports by Country

Taiwan (Chinese) (X tons) and China (X tons) were the largest exporters of hot-rolled wire rod in coil of stainless steel in 2022, finishing at approx. 28% and 27% of total exports, respectively. Japan (X tons) ranks next in terms of the total exports with an 18% share, followed by India (17%) and South Korea (8.7%).

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by India (with a CAGR of +7.0%), while the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), China ($X) and Taiwan (Chinese) ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined 74% share of total exports. India and South Korea lagged somewhat behind, together comprising a further 25%.

Among the main exporting countries, India, with a CAGR of +8.5%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per ton, jumping by 15% against the previous year. Overall, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the export price increased by 45%. Over the period under review, the export prices attained the peak figure 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 Japan ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+2.7%), while the other leaders experienced more modest paces of growth.

Imports of Hot-Rolled Wire Rod In Coil Of Stainless Steel

Imports in Asia-Pacific

In 2022, after two years of growth, there was significant decline in purchases abroad of hot-rolled wire rod in coil of stainless steel, when their volume decreased by -14.2% to X tons. Total imports indicated a moderate expansion from 2012 to 2022: its volume increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +6.5% against 2019 indices. The most prominent rate of growth was recorded in 2014 with an increase of 52% against the previous year. The volume of import peaked at X tons in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, hot-rolled wire stainless steel rod imports rose slightly to $X in 2022. Total imports indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +54.6% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 49%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in years to come.

Imports by Country

The countries with the highest levels of hot-rolled wire stainless steel rod imports in 2022 were Vietnam (X tons), South Korea (X tons), China (X tons) and Thailand (X tons), together finishing at 71% of total import. Malaysia (X tons) took a 9% share (based on physical terms) of total imports, which put it in second place, followed by Taiwan (Chinese) (6.4%) and India (5.1%).

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Vietnam (with a CAGR of +15.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Thailand ($X) and South Korea ($X) appeared to be the countries with the highest levels of imports in 2022, together comprising 61% of total imports. Vietnam, Malaysia, India and Taiwan (Chinese) lagged somewhat behind, together comprising a further 29%.

Vietnam, with a CAGR of +14.6%, 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, increasing by 21% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the import price increased by 28% against the previous year. The level of import peaked in 2022 and is expected to retain growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+4.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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