Australia: Market for Forged Bars Of Stainless Steel 2024

Market Size for Forged Bars Of Stainless Steel in Australia

The Australian forged stainless steel bar market surged to $X in 2022, picking up by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption recorded a strong increase. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the near future.

Exports of Forged Bars Of Stainless Steel

Exports from Australia

In 2022, exports of forged bars of stainless steel from Australia soared to X tons, growing by X% on 2021. Over the period under review, exports, however, showed a abrupt descent. The pace of growth appeared the most rapid in 2014 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, forged stainless steel bar exports soared to $X in 2022. In general, exports, however, recorded a deep reduction. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Tanzania (X tons), New Zealand (X tons) and Cote d'Ivoire (X tons) were the main destinations of forged stainless steel bar exports from Australia, together comprising X% of total exports.

From 2012 to 2022, the biggest increases were recorded for Cote d'Ivoire (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for forged stainless steel bar exported from Australia were Tanzania ($X), New Zealand ($X) and Cote d'Ivoire ($X), together accounting for X% of total exports.

Cote d'Ivoire, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average forged stainless steel bar export price amounted to $X per ton, shrinking by X% against the previous year. In general, the export price continues to indicate a pronounced decline. The most prominent rate of growth was recorded in 2017 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Thailand ($X per ton), while the average price for exports to Papua New Guinea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Cote d'Ivoire (X%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Forged Bars Of Stainless Steel

Imports into Australia

For the third consecutive year, Australia recorded growth in overseas purchases of forged bars of stainless steel, which increased by X% to X tons in 2022. In general, total imports indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of X% 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 X% against 2019 indices. The pace of growth was the most pronounced in 2014 when imports increased by X%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, forged stainless steel bar imports surged to $X in 2022. Over the period under review, imports posted a prominent increase. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the near future.

Imports by Country

India (X tons), Taiwan (Chinese) (X tons) and Indonesia (X tons) were the main suppliers of forged stainless steel bar imports to Australia, with a combined X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, India ($X) constituted the largest supplier of forged bars of stainless steel to Australia, comprising X% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a X% share of total imports. It was followed by Indonesia, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from India stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (X% per year) and Indonesia (X% per year).

Import Prices by Country

The average forged stainless steel bar import price stood at $X per ton in 2022, growing by X% against the previous year. Overall, import price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, forged stainless steel bar import price increased by X% against 2016 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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