Eastern Asia: Market for Ribbed Or Other Deformed Wire Rod Of Non-Alloy Steel 2025

Market Size for Ribbed Or Other Deformed Wire Rod Of Non-Alloy Steel in Eastern Asia

The East Asian market for ribbed or other deformed wire rod of non-alloy steel contracted to $X in 2021, approximately mirroring the previous year. Over the period under review, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Production of Ribbed Or Other Deformed Wire Rod Of Non-Alloy Steel in Eastern Asia

In value terms, deformed non-alloy steel wire rod production shrank slightly to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a mild slump. The most prominent rate of growth was recorded in 2017 with an increase of 16% against the previous year. Over the period under review, production attained the peak level at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Exports of Ribbed Or Other Deformed Wire Rod Of Non-Alloy Steel

Exports in Eastern Asia

In 2021, overseas shipments of ribbed or other deformed wire rod of non-alloy steel decreased by -15.2% to X tons for the first time since 2017, thus ending a three-year rising trend. Overall, exports, however, continue to indicate a buoyant increase. The pace of growth appeared the most rapid in 2018 with an increase of 117%. The volume of export peaked at X tons in 2020, and then fell significantly in the following year.

In value terms, deformed non-alloy steel wire rod exports reached $X in 2021. In general, exports, however, posted a temperate expansion. The growth pace was the most rapid in 2018 with an increase of 125% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the immediate term.

Exports by Country

China was the key exporting country with an export of about X tons, which accounted for 69% of total exports. Japan (X tons) held the second position in the ranking, followed by South Korea (X tons). All these countries together took near 27% share of total exports. Hong Kong SAR (X tons) took a minor share of total exports.

China was also the fastest-growing in terms of the ribbed or other deformed wire rod of non-alloy steel exports, with a CAGR of +17.8% from 2012 to 2021. At the same time, Hong Kong SAR (+7.2%) and Japan (+1.8%) displayed positive paces of growth. By contrast, South Korea (-5.6%) illustrated a downward trend over the same period. China (+44 p.p.) significantly strengthened its position in terms of the total exports, while Japan and South Korea saw its share reduced by -4.9% and -18.2% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest deformed non-alloy steel wire rod supplier in Eastern Asia, comprising 72% of total exports. The second position in the ranking was held by Japan ($X), with a 14% share of total exports. It was followed by South Korea, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China stood at +17.2%. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (-2.4% per year) and South Korea (-5.5% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2021, surging by 19% against the previous year. Over the period under review, the export price, however, continues to indicate a mild setback. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

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 China ($X per ton), while Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+0.2%), while the other leaders experienced a decline in the export price figures.

Imports of Ribbed Or Other Deformed Wire Rod Of Non-Alloy Steel

Imports in Eastern Asia

Deformed non-alloy steel wire rod imports surged to X tons in 2021, with an increase of 199% on the previous year. Over the period under review, imports saw significant growth. The growth pace was the most rapid in 2020 with an increase of 403%. The volume of import peaked in 2021 and is likely to see steady growth in the near future.

In value terms, deformed non-alloy steel wire rod imports skyrocketed to $X in 2021. In general, imports continue to indicate significant growth. The pace of growth appeared the most rapid in 2020 with an increase of 535% against the previous year. The level of import peaked in 2021 and is likely to see gradual growth in the immediate term.

Imports by Country

China dominates imports structure, accounting for X tons, which was near 94% of total imports in 2021. Hong Kong SAR (X tons) and Taiwan (Chinese) (X tons) followed a long way behind the leaders.

China was also the fastest-growing in terms of the ribbed or other deformed wire rod of non-alloy steel imports, with a CAGR of +113.6% from 2012 to 2021. At the same time, Taiwan (Chinese) (+22.6%) and Hong Kong SAR (+13.5%) displayed positive paces of growth. While the share of China (+92 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Taiwan (Chinese) (-2 p.p.) and Hong Kong SAR (-8.8 p.p.) displayed negative dynamics.

In value terms, China ($X) constitutes the largest market for imported ribbed or other deformed wire rod of non-alloy steel in Eastern Asia, comprising 91% of total imports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 3.8% share of total imports.

In China, deformed non-alloy steel wire rod imports increased at an average annual rate of +86.9% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Hong Kong SAR (+7.9% per year) and Taiwan (Chinese) (+20.8% per year).

Import Prices by Country

In 2021, the import price in Eastern Asia amounted to $X per ton, falling by -31% against the previous year. Over the period under review, the import price saw a abrupt decline. The pace of growth was the most pronounced in 2020 an increase of 26%. Over the period under review, import prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (-1.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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