Eastern Asia: Steel Plaited Band Market 2025

Steel Plaited Band Market Size in Eastern Asia

The East Asian steel plaited band market contracted slightly to $X in 2022, dropping by -2.9% against the previous year. The market value increased at an average annual rate of +1.7% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Steel Plaited Band Production in Eastern Asia

In value terms, steel plaited band production amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2014 with an increase of 24%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Steel Plaited Band Exports

Exports in Eastern Asia

Steel plaited band exports surged to X tons in 2022, picking up by 30% compared with 2021. Over the period under review, exports continue to indicate a notable increase. The most prominent rate of growth was recorded in 2020 when exports increased by 53%. As a result, the exports attained the peak of X tons. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, steel plaited band exports soared to $X in 2022. Total exports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China was the main exporting country with an export of around X tons, which accounted for 87% of total exports. It was distantly followed by Taiwan (Chinese) (X tons), committing an 11% share of total exports. South Korea (X tons) held a little share of total exports.

China was also the fastest-growing in terms of the iron or steel plaited bands and slings exports, with a CAGR of +5.1% from 2012 to 2022. At the same time, Taiwan (Chinese) (+2.0%) displayed positive paces of growth. By contrast, South Korea (-8.2%) illustrated a downward trend over the same period. China (+7.3 p.p.) significantly strengthened its position in terms of the total exports, while Taiwan (Chinese) and South Korea saw its share reduced by -2.6% and -4.1% from 2012 to 2022, respectively.

In value terms, China ($X) remains the largest steel plaited band supplier in Eastern Asia, comprising 87% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with an 8.3% share of total exports.

In China, steel plaited band exports increased at an average annual rate of +7.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Taiwan (Chinese) (+1.9% per year) and South Korea (-10.8% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, surging by 12% against the previous year. Over the last decade, it increased at an average annual rate of +1.5%. The most prominent rate of growth was recorded in 2021 an increase of 28%. The level of export peaked at $X per ton in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while Taiwan (Chinese) ($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 (+1.9%), while the other leaders experienced a decline in the export price figures.

Steel Plaited Band Imports

Imports in Eastern Asia

Steel plaited band imports contracted to X tons in 2022, which is down by -12.7% on the year before. Overall, imports saw a abrupt descent. The growth pace was the most rapid in 2014 with an increase of 12% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, steel plaited band imports reduced to $X in 2022. Over the period under review, imports recorded a perceptible curtailment. The most prominent rate of growth was recorded in 2017 with an increase of 26% against the previous year. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The countries with the highest levels of steel plaited band imports in 2022 were China (X tons), Japan (X tons) and South Korea (X tons), together reaching 87% of total import. It was distantly followed by Taiwan (Chinese) (X tons), constituting an 11% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +3.8%), while purchases for the other leaders experienced a decline in the imports figures.

In value terms, China ($X) constitutes the largest market for imported iron or steel plaited bands and slings in Eastern Asia, comprising 61% of total imports. The second position in the ranking was taken by Japan ($X), with a 19% share of total imports. It was followed by South Korea, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China amounted to -2.6%. The remaining importing countries recorded the following average annual rates of imports growth: Japan (-0.5% per year) and South Korea (-10.9% per year).

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per ton, growing by 2.3% against the previous year. Import price indicated perceptible growth from 2012 to 2022: its price increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, steel plaited band import price decreased by -9.0% against 2020 indices. The most prominent rate of growth was recorded in 2020 an increase of 18%. As a result, import price attained the peak level of $X per ton. From 2021 to 2022, the import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per ton), while South Korea ($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 (+6.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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