Eastern Asia: Non-Alloy Steel I-Sections Market 2025

Non-Alloy Steel I-Sections Market Size in Eastern Asia

In 2021, the East Asian non-alloy steel i-sections 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, however, continues to indicate a perceptible setback. The most prominent rate of growth was recorded in 2017 when the market value increased by 6%. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Non-Alloy Steel I-Sections Production in Eastern Asia

In value terms, non-alloy steel i-sections production expanded sharply to $X in 2021 estimated in export price. Overall, production, however, recorded a pronounced decline. The most prominent rate of growth was recorded in 2017 with an increase of 9.3%. The level of production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Non-Alloy Steel I-Sections Exports

Exports in Eastern Asia

In 2021, approx. X tons of i-sections of non-alloy steel were exported in Eastern Asia; which is down by -21.1% against 2020 figures. In general, exports, however, showed a resilient increase. The most prominent rate of growth was recorded in 2020 with an increase of 126%. As a result, the exports reached the peak of X tons, and then reduced markedly in the following year.

In value terms, non-alloy steel i-sections exports dropped modestly to $X in 2021. Overall, exports, however, posted a resilient increase. The pace of growth appeared the most rapid in 2020 when exports increased by 103%. As a result, the exports attained the peak of $X, and then dropped in the following year.

Exports by Country

In 2021, South Korea (X tons) was the main exporter of i-sections of non-alloy steel, committing 47% of total exports. It was distantly followed by China (X tons), Hong Kong SAR (X tons) and Japan (X tons), together achieving a 51% share of total exports. Taiwan (Chinese) (X tons) took a minor share of total exports.

From 2012 to 2021, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +30.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest non-alloy steel i-sections supplying countries in Eastern Asia were South Korea ($X), China ($X) and Japan ($X), together comprising 87% of total exports. These countries were followed by Hong Kong SAR and Taiwan (Chinese), which together accounted for a further 13%.

In terms of the main exporting countries, Taiwan (Chinese), with a CAGR of +31.3%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per ton, with an increase of 25% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+1.9%), while the other leaders experienced more modest paces of growth.

Non-Alloy Steel I-Sections Imports

Imports in Eastern Asia

After three years of growth, overseas purchases of i-sections of non-alloy steel decreased by -9% to X tons in 2021. Total imports indicated a notable expansion from 2012 to 2021: its volume increased at an average annual rate of +3.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +89.3% against 2017 indices. The most prominent rate of growth was recorded in 2020 with an increase of 31% against the previous year. As a result, imports reached the peak of X tons, and then shrank in the following year.

In value terms, non-alloy steel i-sections imports surged to $X in 2021. Overall, imports, however, posted a temperate expansion. The most prominent rate of growth was recorded in 2018 with an increase of 41%. The level of import peaked in 2021 and is likely to continue growth in years to come.

Imports by Country

Hong Kong SAR was the key importing country with an import of about X tons, which recorded 52% of total imports. South Korea (X tons) held the second position in the ranking, followed by Japan (X tons), China (X tons) and Macao SAR (X tons). All these countries together held approx. 45% share of total imports. Taiwan (Chinese) (X tons) held a minor share of total imports.

Hong Kong SAR was also the fastest-growing in terms of the i-sections of non-alloy steel imports, with a CAGR of +23.4% from 2012 to 2021. At the same time, Macao SAR (+2.5%) and Japan (+1.9%) displayed positive paces of growth. By contrast, South Korea (-4.2%), Taiwan (Chinese) (-4.5%) and China (-9.5%) illustrated a downward trend over the same period. While the share of Hong Kong SAR (+42 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Taiwan (Chinese) (-2.6 p.p.), South Korea (-12.5 p.p.) and China (-24.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Hong Kong SAR ($X) constitutes the largest market for imported i-sections of non-alloy steel in Eastern Asia, comprising 53% of total imports. The second position in the ranking was held by China ($X), with a 14% share of total imports. It was followed by South Korea, with a 12% share.

In Hong Kong SAR, non-alloy steel i-sections imports increased at an average annual rate of +25.2% over the period from 2012-2021. In the other countries, the average annual rates were as follows: China (-6.0% per year) and South Korea (-4.0% per year).

Import Prices by Country

In 2021, the import price in Eastern Asia amounted to $X per ton, picking up by 43% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.2%. 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 importing countries. In 2021, amid the top importers, the country with the highest price was China ($X per ton), while Japan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+3.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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