Asia-Pacific: Market for Wire Rod Of Free-Cutting Steel 2024

Market Size for Wire Rod Of Free-Cutting Steel in Asia-Pacific

The Asia-Pacific free-cutting steel wire rod market contracted modestly to $X in 2022, falling by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X, and then contracted slightly in the following year.

Production of Wire Rod Of Free-Cutting Steel in Asia-Pacific

In value terms, free-cutting steel wire rod production reached $X in 2022 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Exports of Wire Rod Of Free-Cutting Steel

Exports in Asia-Pacific

In 2022, after two years of growth, there was significant decline in overseas shipments of wire rod of free-cutting steel, when their volume decreased by X% to X tons. In general, exports recorded a abrupt slump. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, free-cutting steel wire rod exports reduced sharply to $X in 2022. Overall, exports continue to indicate a noticeable reduction. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Japan (X tons) was the key exporter of wire rod of free-cutting steel, comprising X% of total exports. India (X tons) took the second position in the ranking, distantly followed by China (X tons). All these countries together held approx. X% share of total exports. Malaysia (X tons) held a minor share of total exports.

Exports from Japan decreased at an average annual rate of X% from 2012 to 2022. At the same time, China (X%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of X% from 2012-2022. India experienced a relatively flat trend pattern. By contrast, Malaysia (X%) illustrated a downward trend over the same period. While the share of Japan (X p.p.), India (X p.p.) and China (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Malaysia (X p.p.) displayed negative dynamics.

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

From 2012 to 2022, the average annual growth rate of value in Japan was relatively modest. In the other countries, the average annual rates were as follows: India (X% per year) and China (X% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2022, picking up by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. As a result, the export price reached 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 Japan ($X per ton), while Malaysia ($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 (X%), while the other leaders experienced mixed trends in the export price figures.

Imports of Wire Rod Of Free-Cutting Steel

Imports in Asia-Pacific

Free-cutting steel wire rod imports dropped to X tons in 2022, falling by X% on 2021 figures. In general, imports showed a noticeable downturn. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. The volume of import peaked at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, free-cutting steel wire rod imports contracted to $X in 2022. Overall, imports recorded a mild decrease. The most prominent rate of growth was recorded in 2021 when imports increased by 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

Taiwan (Chinese) (X tons) and South Korea (X tons) represented the largest importers of wire rod of free-cutting steel in 2022, resulting at approx. X% and X% of total imports, respectively. China (X tons) held the next position in the ranking, distantly followed by Lao People's Democratic Republic (X tons), Vietnam (X tons) and Malaysia (X tons). All these countries together held approx. X% share of total imports. Myanmar (X tons) held a little share of total imports.

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

In value terms, South Korea ($X), Taiwan (Chinese) ($X) and China ($X) were the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Lao People's Democratic Republic, Vietnam, Malaysia and Myanmar lagged somewhat behind, together accounting for a further X%.

Among the main importing countries, Myanmar, with a CAGR of X%, recorded the highest rates of growth with regard to 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, growing by X% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the import price increased by X% against the previous year. Over the period under review, import prices attained the peak figure in 2022 and is likely to see gradual growth in the near future.

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 ($X per ton), while Myanmar ($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 (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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