Eastern Asia: Market for Wire Rod Of Free-Cutting Steel 2025

Market Size for Wire Rod Of Free-Cutting Steel in Eastern Asia

The East Asian free-cutting steel wire rod market reduced to $X in 2022, declining by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X, and then reduced modestly in the following year.

Production of Wire Rod Of Free-Cutting Steel in Eastern Asia

In value terms, free-cutting steel wire rod production contracted to $X in 2022 estimated in export price. In general, production recorded a mild descent. The pace of growth appeared the most rapid in 2018 with an increase of X%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Exports of Wire Rod Of Free-Cutting Steel

Exports in Eastern Asia

Free-cutting steel wire rod exports declined remarkably to X tons in 2022, shrinking by X% compared with the previous year. Overall, exports showed a abrupt descent. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, free-cutting steel wire rod exports shrank to $X in 2022. Over the period under review, exports continue to indicate a pronounced reduction. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Japan dominates exports structure, amounting to X tons, which was approx. X% of total exports in 2022. It was distantly followed by China (X tons), mixing up a X% share of total exports. South Korea (X tons) followed a long way behind the leaders.

Exports from Japan decreased at an average annual rate of X% from 2012 to 2022. At the same time, China (X%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of X% from 2012-2022. By contrast, South Korea (X%) illustrated a downward trend over the same period. Japan (X p.p.) and China (X p.p.) significantly strengthened its position in terms of the total exports, while South Korea saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, Japan ($X) remains the largest free-cutting steel wire rod supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was taken by China ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Japan was relatively modest. The remaining exporting countries recorded the following average annual rates of exports growth: China (X% per year) and South Korea (X% per year).

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, increasing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. The level of export peaked in 2022 and is likely to see steady growth in the near future.

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 South Korea ($X per ton), while China ($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 (X%), while the other leaders experienced mixed trends in the export price figures.

Imports of Wire Rod Of Free-Cutting Steel

Imports in Eastern Asia

In 2022, the amount of wire rod of free-cutting steel imported in Eastern Asia shrank rapidly to X tons, with a decrease of X% on 2021. Over the period under review, imports showed a perceptible reduction. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The volume of import peaked at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, free-cutting steel wire rod imports fell to $X in 2022. In general, imports recorded a mild shrinkage. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of $X, and then dropped in the following year.

Imports by Country

Taiwan (Chinese) (X tons) and South Korea (X tons) were the major importers of wire rod of free-cutting steel in 2022, resulting at approx. X% and X% of total imports, respectively. It was distantly followed by China (X tons), mixing up a X% share of total imports.

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

In value terms, the largest free-cutting steel wire rod importing markets in Eastern Asia were South Korea ($X), Taiwan (Chinese) ($X) and China ($X), together comprising X% of total imports.

South Korea, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per ton, growing by X% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs in 2022 and is expected to retain growth in years to come.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, 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 (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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