India: Market for Ribbed Or Other Deformed Wire Rod Of Non-Alloy Steel 2024

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

The Indian market for ribbed or other deformed wire rod of non-alloy steel expanded slightly to $X in 2021, growing by 3.2% against the previous year. The market value increased at an average annual rate of +1.6% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2020 to 2021, the growth of the market failed to regain momentum.

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

In value terms, deformed non-alloy steel wire rod production totaled $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.6% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2019 with an increase of 17%. As a result, production attained the peak level of $X. From 2020 to 2021, production growth failed to regain momentum.

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

Exports from India

Deformed non-alloy steel wire rod exports from India skyrocketed to X tons in 2021, with an increase of 399% on 2020 figures. Overall, exports showed a resilient increase. The most prominent rate of growth was recorded in 2020 with an increase of 1,082% against the previous year. The exports peaked in 2021 and are expected to retain growth in the near future.

In value terms, deformed non-alloy steel wire rod exports skyrocketed to $X in 2021. In general, exports showed a strong increase. The pace of growth appeared the most rapid in 2020 when exports increased by 1,305%. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Guinea (X tons), Italy (X tons) and Myanmar (X tons) were the main destinations of deformed non-alloy steel wire rod exports from India, with a combined 78% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Guinea (with a CAGR of +1,076.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Guinea ($X), Italy ($X) and Myanmar ($X) constituted the largest markets for deformed non-alloy steel wire rod exported from India worldwide, with a combined 76% share of total exports.

Guinea, with a CAGR of +1,221.4%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average export price for ribbed or other deformed wire rod of non-alloy steel amounted to $X per ton, increasing by 19% against the previous year. Over the period under review, the export price, however, continues to indicate a abrupt slump. The pace of growth appeared the most rapid in 2014 an increase of 47%. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Nepal ($X per ton), while the average price for exports to Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Guinea (+12.4%), while the prices for the other major destinations experienced more modest paces of growth.

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

Imports into India

In 2021, after three years of decline, there was significant growth in purchases abroad of ribbed or other deformed wire rod of non-alloy steel, when their volume increased by 1,293% to X tons. Overall, imports, however, showed a precipitous shrinkage. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, deformed non-alloy steel wire rod imports surged to $X in 2021. Over the period under review, imports, however, faced a precipitous curtailment. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

The Netherlands (X tons), South Korea (X tons) and the UK (X tons) were the main suppliers of deformed non-alloy steel wire rod imports to India, with a combined 95% share of total imports. France, Poland and Japan lagged somewhat behind, together comprising a further 4%.

From 2012 to 2021, the biggest increases were recorded for Poland (with a CAGR of +63.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X) constituted the largest supplier of ribbed or other deformed wire rod of non-alloy steel to India, comprising 56% of total imports. The second position in the ranking was held by the Netherlands ($X), with a 20% share of total imports. It was followed by the UK, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value from South Korea totaled -7.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+17.2% per year) and the UK (-0.7% per year).

Import Prices by Country

In 2021, the average import price for ribbed or other deformed wire rod of non-alloy steel amounted to $X per ton, declining by -18.6% against the previous year. In general, the import price, however, continues to indicate strong growth. The pace of growth was the most pronounced in 2020 an increase of 93% against the previous year. As a result, import price reached the peak level of $X per ton, and then contracted sharply in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Poland ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+13.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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