Eastern Asia: Non-Alloy Steel U-Section Market 2025

Non-Alloy Steel U-Section Market Size in Eastern Asia

The East Asian non-alloy steel u-section market totaled $X in 2022, remaining constant against the previous year. Overall, consumption, however, recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Non-Alloy Steel U-Section Production in Eastern Asia

In value terms, non-alloy steel u-section production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.9% 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 2020 when the production volume increased by 28%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Non-Alloy Steel U-Section Exports

Exports in Eastern Asia

In 2022, shipments abroad of u-sections of non-alloy steel increased by 19% to X tons, rising for the second consecutive year after two years of decline. Total exports indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of +6.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +35.2% against 2020 indices. The growth pace was the most rapid in 2017 when exports increased by 28% against the previous year. The volume of export peaked at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, non-alloy steel u-section exports soared to $X in 2022. Over the period under review, exports continue to indicate a buoyant expansion. The growth pace was the most rapid in 2021 when exports increased by 53% against the previous year. The level of export peaked in 2022 and is likely to continue growth in the immediate term.

Exports by Country

China was the largest exporter of u-sections of non-alloy steel in Eastern Asia, with the volume of exports reaching X tons, which was approx. 61% of total exports in 2022. Japan (X tons) took a 22% share (based on physical terms) of total exports, which put it in second place, followed by South Korea (8.8%) and Taiwan (Chinese) (7.9%).

China was also the fastest-growing in terms of the u-sections of non-alloy steel exports, with a CAGR of +17.9% from 2012 to 2022. Japan experienced a relatively flat trend pattern. South Korea (-1.5%) and Taiwan (Chinese) (-1.9%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China increased by +39 percentage points.

In value terms, China ($X) remains the largest non-alloy steel u-section supplier in Eastern Asia, comprising 74% of total exports. The second position in the ranking was held by Japan ($X), with a 14% share of total exports. It was followed by South Korea, with a 6.9% share.

In China, non-alloy steel u-section exports increased at an average annual rate of +28.3% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (+1.8% per year) and South Korea (+1.2% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, picking up by 12% against the previous year. In general, the export price enjoyed a prominent increase. The growth pace was the most rapid in 2021 an increase of 34% against the previous year. The level of export peaked in 2022 and is likely to continue growth in the immediate term.

There were significant differences in the average prices 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 (+8.8%), while the other leaders experienced more modest paces of growth.

Non-Alloy Steel U-Section Imports

Imports in Eastern Asia

In 2022, the amount of u-sections of non-alloy steel imported in Eastern Asia totaled X tons, approximately reflecting 2021 figures. 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 in certain years. The most prominent rate of growth was recorded in 2018 with an increase of 15%. Over the period under review, imports attained the maximum at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, non-alloy steel u-section imports expanded remarkably to $X in 2022. Total imports indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +39.7% against 2020 indices. The growth pace was the most rapid in 2017 when imports increased by 36%. Over the period under review, imports reached the peak figure in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

South Korea was the major importing country with an import of about X tons, which recorded 56% of total imports. It was distantly followed by Hong Kong SAR (X tons), Taiwan (Chinese) (X tons) and China (X tons), together mixing up a 41% share of total imports. Democratic People's Republic of Korea (X tons) took a minor share of total imports.

Imports into South Korea increased at an average annual rate of +6.2% from 2012 to 2022. At the same time, Democratic People's Republic of Korea (+8.6%) and Taiwan (Chinese) (+6.7%) displayed positive paces of growth. Moreover, Democratic People's Republic of Korea emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +8.6% from 2012-2022. China experienced a relatively flat trend pattern. By contrast, Hong Kong SAR (-4.5%) illustrated a downward trend over the same period. While the share of South Korea (+16 p.p.) and Taiwan (Chinese) (+4.1 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of China (-1.7 p.p.) and Hong Kong SAR (-19.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Korea ($X) constitutes the largest market for imported u-sections of non-alloy steel in Eastern Asia, comprising 53% of total imports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 20% share of total imports. It was followed by China, with a 14% share.

From 2012 to 2022, the average annual growth rate of value in South Korea amounted to +8.3%. In the other countries, the average annual rates were as follows: Hong Kong SAR (-2.7% per year) and China (+1.3% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, growing by 5% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 35%. Over the period under review, import prices attained the peak figure in 2022 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per ton), while Democratic People's Republic of Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+2.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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