Japan: 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 Japan

The Japanese market for ribbed or other deformed wire rod of non-alloy steel shrank slightly to $X in 2021, remaining constant against the previous year. Overall, consumption showed a pronounced downturn. Deformed non-alloy steel wire rod consumption peaked 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 Japan

In value terms, deformed non-alloy steel wire rod production stood at $X in 2021 estimated in export price. Over the period under review, production showed a noticeable setback. The most prominent rate of growth was recorded in 2017 when the production volume increased by 31%. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

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

Exports from Japan

Deformed non-alloy steel wire rod exports from Japan skyrocketed to X tons in 2021, picking up by 66% against 2020 figures. Over the period under review, exports continue to indicate a modest increase. The pace of growth was the most pronounced in 2015 with an increase of 3,132%. Over the period under review, the exports hit record highs in 2021 and are likely to continue growth in years to come.

In value terms, deformed non-alloy steel wire rod exports skyrocketed to $X in 2021. In general, exports, however, saw a noticeable slump. The growth pace was the most rapid in 2015 when exports increased by 1,529% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Myanmar (X tons) was the main destination for deformed non-alloy steel wire rod exports from Japan, accounting for a 45% share of total exports. Moreover, deformed non-alloy steel wire rod exports to Myanmar exceeded the volume sent to the second major destination, the Philippines (X tons), more than tenfold. Kyrgyzstan (X tons) ranked third in terms of total exports with a 0.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Myanmar stood at +38.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (+7.0% per year) and Kyrgyzstan (-62.4% per year).

In value terms, Myanmar ($X) remains the key foreign market for ribbed or other deformed wire rod of non-alloy steel exports from Japan, comprising 40% of total exports. The second position in the ranking was taken by the Philippines ($X), with a 7.1% share of total exports. It was followed by Kyrgyzstan, with a 1.3% share.

From 2012 to 2021, the average annual growth rate of value to Myanmar totaled +66.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (+10.1% per year) and Kyrgyzstan (-53.8% per year).

Export Prices by Country

The average export price for ribbed or other deformed wire rod of non-alloy steel stood at $X per ton in 2021, surging by 5.4% against the previous year. Over the period under review, the export price, however, recorded a pronounced slump. The pace of growth was the most pronounced in 2017 when the average export price increased by 18%. Over the period under review, the average export prices attained the maximum at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Thailand ($X per ton), while the average price for exports to India ($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 Thailand (+30.3%), 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 Japan

In 2021, imports of ribbed or other deformed wire rod of non-alloy steel into Japan shrank remarkably to X tons, dropping by -57.6% against 2020 figures. In general, imports showed a deep slump. The pace of growth appeared the most rapid in 2019 with an increase of 25% against the previous year. Imports peaked at X tons in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, deformed non-alloy steel wire rod imports fell rapidly to $X in 2021. Overall, imports saw a deep reduction. The growth pace was the most rapid in 2015 when imports increased by 5.6%. Imports peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, South Korea (X tons) was the main supplier of deformed non-alloy steel wire rod to Japan, with a approx. 100% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from South Korea totaled -3.0%.

In value terms, South Korea ($X) constituted the largest supplier of ribbed or other deformed wire rod of non-alloy steel to Japan.

From 2012 to 2021, the average annual rate of growth in terms of value from South Korea stood at -6.5%.

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, rising by 45% against the previous year. Overall, the import price, however, saw a slight shrinkage. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

As there is only one major supplying country, the average price level is determined by prices for South Korea.

From 2012 to 2021, the rate of growth in terms of prices for Taiwan (Chinese) amounted to -2.4% per year.

Source: IndexBox Platform

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