Eastern Asia: Metal Wool Market 2025

Metal Wool Market Size in Eastern Asia

The East Asian metal wool market declined to $X in 2022, remaining relatively unchanged against the previous year. The market value increased at an average annual rate of +2.4% over the period from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X, leveling off in the following year.

Metal Wool Production in Eastern Asia

In value terms, metal wool production totaled $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.1% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when the production volume increased by 9.6%. Over the period under review, production attained the peak level at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

Metal Wool Exports

Exports in Eastern Asia

In 2022, approx. X tons of iron or steel wool were exported in Eastern Asia; rising by 7.6% against the year before. Overall, exports, however, recorded a slight decline. The pace of growth was the most pronounced in 2017 when exports increased by 21%. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, metal wool exports expanded remarkably to $X in 2022. The total export value increased at an average annual rate of +1.2% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 with an increase of 18% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

China (X tons) represented roughly 99% of total exports in 2022.

China was also the fastest-growing in terms of the iron or steel wool exports, with a CAGR of -1.7% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, China ($X) also remains the largest metal wool supplier in Eastern Asia.

From 2012 to 2022, the average annual growth rate of value in China totaled +1.6%.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, growing by 4.3% against the previous year. Over the last decade, it increased at an average annual rate of +3.1%. The growth pace was the most rapid in 2014 an increase of 22% against the previous year. The level of export peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to +3.4% per year.

Metal Wool Imports

Imports in Eastern Asia

In 2022, purchases abroad of iron or steel wool was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +2.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, metal wool imports skyrocketed to $X in 2022. In general, imports showed a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

South Korea (X tons) and Japan (X tons) represented the key importers of iron or steel wool in 2022, finishing at approx. 33% and 33% of total imports, respectively. Democratic People's Republic of Korea (X tons) ranks next in terms of the total imports with a 13% share, followed by Hong Kong SAR (11%) and Taiwan (Chinese) (8.8%).

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by South Korea (with a CAGR of +13.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X), Japan ($X) and Hong Kong SAR ($X) were the countries with the highest levels of imports in 2022, together comprising 84% of total imports.

South Korea, with a CAGR of +12.9%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, picking up by 7.6% against the previous year. In general, the import price, however, showed a slight descent. The growth pace was the most rapid in 2015 an increase of 8.8% against the previous year. As a result, import price reached the peak level of $X per ton. From 2016 to 2022, the import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while Democratic People's Republic of Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Democratic People's Republic of Korea (+3.3%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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