Japan: Hot-Rolled Steel Products Market 2025

Hot-Rolled Steel Products Market Size in Japan

In 2021, the Japanese hot-rolled steel products market decreased by -4.2% to $X, falling for the second consecutive year after three years of growth. Over the period under review, consumption recorded a perceptible contraction. The pace of growth appeared the most rapid in 2017 when the market value increased by 9.6% against the previous year. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Hot-Rolled Steel Products Production in Japan

In value terms, hot-rolled steel products production reached $X in 2021 estimated in export price. Overall, production, however, continues to indicate a deep contraction. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Hot-Rolled Steel Products Exports

Exports from Japan

After four years of decline, shipments abroad of flat-rolled products of iron or steel (not further worked than hot-rolled) increased by 6.7% to X tons in 2021. Over the period under review, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when exports increased by 8.9% against the previous year. The exports peaked at X tons in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

In value terms, hot-rolled steel products exports soared to $X in 2021. In general, exports continue to indicate a relatively flat trend pattern. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Thailand (X tons), China (X tons) and South Korea (X tons) were the main destinations of hot-rolled steel products exports from Japan, together comprising 48% of total exports. These countries were followed by Vietnam, Mexico, Indonesia, Bangladesh, Pakistan, Taiwan (Chinese), the United States, Turkey, Malaysia and Colombia, which together accounted for a further 35%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Mexico (with a CAGR of +22.3%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for hot-rolled steel products exported from Japan were Thailand ($X), South Korea ($X) and China ($X), with a combined 48% share of total exports. These countries were followed by Vietnam, Mexico, Indonesia, Bangladesh, Pakistan, Taiwan (Chinese), the United States, Turkey, Malaysia and Colombia, which together accounted for a further 35%.

In terms of the main countries of destination, Mexico, with a CAGR of +20.0%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average hot-rolled steel products export price stood at $X per ton in 2021, growing by 55% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major export markets. In 2021, amid the top suppliers, the highest price was recorded for prices to South Korea ($X per ton) and Taiwan (Chinese) ($X per ton), while the average price for exports to Thailand ($X per ton) and Vietnam ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Colombia (+4.0%), while the prices for the other major destinations experienced more modest paces of growth.

Hot-Rolled Steel Products Imports

Imports into Japan

In 2021, imports of flat-rolled products of iron or steel (not further worked than hot-rolled) into Japan shrank modestly to X tons, reducing by -4.7% compared with the previous year's figure. In general, imports continue to indicate a pronounced setback. The most prominent rate of growth was recorded in 2014 with an increase of 26% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports remained at a lower figure.

In value terms, hot-rolled steel products imports surged to $X in 2021. Overall, imports continue to indicate a perceptible slump. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, South Korea (X tons) constituted the largest hot-rolled steel products supplier to Japan, accounting for a 65% share of total imports. Moreover, hot-rolled steel products imports from South Korea exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), threefold.

From 2012 to 2021, the average annual growth rate of volume from South Korea stood at -2.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-3.2% per year) and China (+2.4% per year).

In value terms, South Korea ($X) constituted the largest supplier of flat-rolled products of iron or steel (not further worked than hot-rolled) to Japan, comprising 64% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 23% share of total imports.

From 2012 to 2021, the average annual growth rate of value from South Korea totaled -2.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-1.7% per year) and China (+5.5% per year).

Import Prices by Country

In 2021, the average hot-rolled steel products import price amounted to $X per ton, picking up by 39% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was China ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+3.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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