China: Concrete Reinforcing Bar Market 2024

Concrete Reinforcing Bar Market Size in China

In 2022, the Chinese concrete reinforcing bar market decreased by -5.4% to $X, falling for the second year in a row after four years of growth. In general, the total consumption indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -7.0% against 2020 indices. Over the period under review, the market reached the peak level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Concrete Reinforcing Bar Production in China

In value terms, concrete reinforcing bar production stood at $X in 2022 estimated in export price. Over the period under review, the total production indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -1.5% against 2020 indices. The pace of growth appeared the most rapid in 2017 when the production volume increased by 34%. Concrete reinforcing bar production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Concrete Reinforcing Bar Exports

Exports from China

In 2022, exports of concrete reinforcing bars from China soared to X tons, picking up by 111% against the previous year's figure. Overall, exports showed resilient growth. The pace of growth was the most pronounced in 2018 when exports increased by 120% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, concrete reinforcing bar exports skyrocketed to $X in 2022. In general, exports continue to indicate strong growth. The pace of growth appeared the most rapid in 2018 when exports increased by 110% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are likely to see steady growth in the near future.

Exports by Country

South Korea (X tons), Mongolia (X tons) and Vietnam (X tons) were the main destinations of concrete reinforcing bar exports from China, with a combined 32% share of total exports. Myanmar, Thailand, Belgium, Italy, Indonesia, Guinea, the Philippines, India, Malaysia and Germany lagged somewhat behind, together accounting for a further 37%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Italy (with a CAGR of +177.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for concrete reinforcing bar exported from China were South Korea ($X), Vietnam ($X) and Mongolia ($X), together comprising 28% of total exports. Thailand, Belgium, the Philippines, Myanmar, Italy, Indonesia, Guinea, Malaysia, India and Germany lagged somewhat behind, together accounting for a further 38%.

Italy, with a CAGR of +176.9%, recorded the highest rates of growth with regard to the value of exports, among 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 concrete reinforcing bar export price amounted to $X per ton, waning by -2.9% against the previous year. Over the period under review, the export price, however, recorded a slight expansion. The pace of growth was the most pronounced in 2017 when the average export price increased by 56% against the previous year. The export price peaked at $X per ton in 2021, and then fell in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Philippines ($X per ton), while the average price for exports to Myanmar ($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 the Philippines (+13.7%), while the prices for the other major destinations experienced more modest paces of growth.

Concrete Reinforcing Bar Imports

Imports into China

In 2022, after four years of growth, there was significant decline in purchases abroad of concrete reinforcing bars, when their volume decreased by -67.9% to X tons. In general, imports, however, continue to indicate a strong increase. The most prominent rate of growth was recorded in 2020 when imports increased by 1,278%. Over the period under review, imports hit record highs at X tons in 2021, and then dropped dramatically in the following year.

In value terms, concrete reinforcing bar imports fell markedly to $X in 2022. Over the period under review, imports, however, showed resilient growth. The most prominent rate of growth was recorded in 2020 when imports increased by 626%. Imports peaked at $X in 2021, and then fell sharply in the following year.

Imports by Country

In 2022, Malaysia (X tons) constituted the largest concrete reinforcing bar supplier to China, with a 86% share of total imports. Moreover, concrete reinforcing bar imports from Malaysia exceeded the figures recorded by the second-largest supplier, Japan (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Malaysia amounted to +1,616.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-6.0% per year) and Vietnam (+487.9% per year).

In value terms, Malaysia ($X) constituted the largest supplier of concrete reinforcing bars to China, comprising 81% of total imports. The second position in the ranking was taken by Japan ($X), with a 9% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Malaysia amounted to +1,179.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-6.4% per year) and Vietnam (+461.6% per year).

Import Prices by Country

In 2022, the average concrete reinforcing bar import price amounted to $X per ton, growing by 13% against the previous year. Overall, the import price, however, continues to indicate a perceptible contraction. The most prominent rate of growth was recorded in 2017 when the average import price increased by 53% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

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 Japan ($X per ton), while the price for Malaysia ($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 (-0.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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