Bangladesh: Iron Angle Market 2024

Iron Angle Market Size in Bangladesh

In 2021, the Bangladeshi iron angle market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, consumption showed measured growth. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Iron Angle Exports

Exports from Bangladesh

In 2021, the amount of angles, shapes and sections (of iron or non-alloy steel) exported from Bangladesh skyrocketed to X tons, jumping by 53% compared with the previous year. In general, exports, however, saw a deep contraction. The most prominent rate of growth was recorded in 2017 when exports increased by 77%. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, iron angle exports skyrocketed to $X in 2021. Over the period under review, exports, however, continue to indicate a deep setback. The pace of growth appeared the most rapid in 2017 when exports increased by 126% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Slovenia (X tons) was the main destination for iron angle exports from Bangladesh, with a 77% share of total exports. Moreover, iron angle exports to Slovenia exceeded the volume sent to the second major destination, Rwanda (X tons), threefold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Slovenia amounted to -2.8%.

In value terms, Slovenia ($X) and Rwanda ($X) were the largest markets for iron angle exported from Bangladesh worldwide.

Rwanda, with a CAGR of +154.1%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review.

Export Prices by Country

In 2021, the average iron angle export price amounted to $X per ton, surging by 30% against the previous year. Overall, export price indicated buoyant growth from 2012 to 2021: its price increased at an average annual rate of +5.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, iron angle export price increased by +49.7% against 2019 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Rwanda ($X per ton), while the average price for exports to Slovenia amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Rwanda (+15.2%), while the prices for the other major destinations experienced mixed trend patterns.

Iron Angle Imports

Imports into Bangladesh

In 2021, supplies from abroad of angles, shapes and sections (of iron or non-alloy steel) was finally on the rise to reach X tons after three years of decline. In general, imports recorded moderate growth. The growth pace was the most rapid in 2015 when imports increased by 128% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, iron angle imports surged to $X in 2021. Over the period under review, imports enjoyed a measured increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest iron angle supplier to Bangladesh, accounting for a 43% share of total imports. Moreover, iron angle imports from China exceeded the figures recorded by the second-largest supplier, Russia (X tons), twofold. South Korea (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2021, the average annual growth rate of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (+128.8% per year) and South Korea (+15.8% per year).

In value terms, China ($X) constituted the largest supplier of angles, shapes and sections (of iron or non-alloy steel) to Bangladesh, comprising 43% of total imports. The second position in the ranking was taken by Russia ($X), with a 21% share of total imports. It was followed by South Korea, with a 13% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +2.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (+130.4% per year) and South Korea (+19.2% per year).

Import Prices by Country

The average iron angle import price stood at $X per ton in 2021, increasing by 38% against the previous year. Overall, import price indicated a temperate expansion from 2012 to 2021: its price increased at an average annual rate of +2.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, iron angle import price increased by +72.0% against 2017 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were South Korea ($X per ton) and Singapore ($X per ton), while the price for India ($X per ton) and Japan ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+2.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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