Asia: Market for Welded And Cold-Formed Sections Of Steel 2025

Market Size for Welded And Cold-Formed Sections Of Steel in Asia

For the third year in a row, the Asian market for welded and cold-formed sections of steel recorded growth in sales value, which increased by 13% to $X in 2022. The market value increased at an average annual rate of +4.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked in 2022 and is expected to retain growth in the near future.

Production of Welded And Cold-Formed Sections Of Steel in Asia

In value terms, welded and cold-formed steel sections production expanded rapidly to $X in 2022 estimated in export price. The total production indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +67.2% against 2016 indices. The most prominent rate of growth was recorded in 2020 when the production volume increased by 16% against the previous year. The level of production peaked in 2022 and is expected to retain growth in the immediate term.

Exports of Welded And Cold-Formed Sections Of Steel

Exports in Asia

In 2022, overseas shipments of welded and cold-formed sections of steel decreased by -4.5% to X tons, falling for the fourth year in a row after three years of growth. In general, exports continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2017 when exports increased by 27% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, welded and cold-formed steel sections exports reached $X in 2022. Overall, exports continue to indicate a noticeable downturn. The growth pace was the most rapid in 2017 with an increase of 20%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Bahrain (X tons), distantly followed by China (X tons), the United Arab Emirates (X tons), Saudi Arabia (X tons), India (X tons), Jordan (X tons) and Turkey (X tons) represented the key exporters of welded and cold-formed sections of steel, together generating 89% of total exports.

From 2012 to 2022, the biggest increases were recorded for Jordan (with a CAGR of +50.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest welded and cold-formed steel sections supplying countries in Asia were China ($X), Bahrain ($X) and India ($X), together comprising 53% of total exports. The United Arab Emirates, Jordan, Turkey and Saudi Arabia lagged somewhat behind, together accounting for a further 34%.

Jordan, with a CAGR of +56.5%, saw the highest rates of growth with regard to the value of exports, among 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

The export price in Asia stood at $X per ton in 2022, growing by 12% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.9%. The growth pace was the most rapid in 2020 when the export price increased by 14%. The level of export peaked 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 India ($X per ton), while Saudi Arabia ($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 (+4.2%), while the other leaders experienced more modest paces of growth.

Imports of Welded And Cold-Formed Sections Of Steel

Imports in Asia

Welded and cold-formed steel sections imports expanded remarkably to X tons in 2022, surging by 8.2% on the previous year. Overall, imports, however, saw a noticeable reduction. The pace of growth appeared the most rapid in 2014 with an increase of 50% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2022, the growth of imports failed to regain momentum.

In value terms, welded and cold-formed steel sections imports stood at $X in 2022. In general, imports, however, saw a noticeable decrease. The most prominent rate of growth was recorded in 2014 when imports increased by 22%. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Saudi Arabia (X tons) represented the major importer of welded and cold-formed sections of steel, creating 29% of total imports. It was distantly followed by South Korea (X tons), Iraq (X tons), China (X tons) and the United Arab Emirates (X tons), together mixing up a 36% share of total imports. Bahrain (X tons), Kyrgyzstan (X tons), Kazakhstan (X tons), Oman (X tons), Singapore (X tons), Kuwait (X tons), Taiwan (Chinese) (X tons) and Uzbekistan (X tons) took a minor share of total imports.

Imports into Saudi Arabia increased at an average annual rate of +3.6% from 2012 to 2022. At the same time, Kyrgyzstan (+30.0%), Iraq (+21.1%), Uzbekistan (+16.8%), Kazakhstan (+14.1%), Taiwan (Chinese) (+9.9%) and Oman (+6.1%) displayed positive paces of growth. Moreover, Kyrgyzstan emerged as the fastest-growing importer imported in Asia, with a CAGR of +30.0% from 2012-2022. The United Arab Emirates experienced a relatively flat trend pattern. By contrast, Kuwait (-1.0%), Bahrain (-7.5%), China (-8.2%), South Korea (-11.6%) and Singapore (-16.0%) illustrated a downward trend over the same period. While the share of Saudi Arabia (+17 p.p.), Iraq (+8.8 p.p.), Kyrgyzstan (+3.1 p.p.), Kazakhstan (+2.6 p.p.), the United Arab Emirates (+2.3 p.p.), Oman (+2 p.p.), Uzbekistan (+1.7 p.p.) and Taiwan (Chinese) (+1.6 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of China (-3.3 p.p.), Singapore (-6.2 p.p.) and South Korea (-13.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X), Iraq ($X) and China ($X) constituted the countries with the highest levels of imports in 2022, together comprising 50% of total imports.

In terms of the main importing countries, Iraq, with a CAGR of +27.6%, 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

In 2022, the import price in Asia amounted to $X per ton, stabilizing at the previous year. In general, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the import price increased by 12% against the previous year. The level of import peaked at $X per ton in 2021, and then dropped slightly 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 Iraq ($X per ton), while Kyrgyzstan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (+5.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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