Malaysia: Market for Forged Bars Of Stainless Steel 2024

Market Size for Forged Bars Of Stainless Steel in Malaysia

The Malaysian forged stainless steel bar market fell slightly to $X in 2022, approximately reflecting the previous year. Over the period under review, consumption, however, recorded a perceptible decline. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Production of Forged Bars Of Stainless Steel in Malaysia

In value terms, forged stainless steel bar production contracted to $X in 2022 estimated in export price. In general, production continues to indicate a perceptible descent. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. Forged stainless steel bar production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Forged Bars Of Stainless Steel

Exports from Malaysia

In 2022, shipments abroad of forged bars of stainless steel decreased by X% to X tons, falling for the second year in a row after four years of growth. Over the period under review, exports saw a precipitous contraction. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, forged stainless steel bar exports declined markedly to $X in 2022. In general, exports faced a precipitous decrease. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Singapore (X tons), New Zealand (X tons) and Vietnam (X tons) were the main destinations of forged stainless steel bar exports from Malaysia, with a combined X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Vietnam (with a CAGR of X%), while the other leaders experienced mixed trend patterns.

In value terms, the largest markets for forged stainless steel bar exported from Malaysia were New Zealand ($X), Singapore ($X) and Vietnam ($X), together accounting for X% of total exports.

In terms of the main countries of destination, Vietnam, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average forged stainless steel bar export price amounted to $X per ton, with an increase of X% against the previous year. Over the period under review, the export price recorded a modest increase. The most prominent rate of growth was recorded in 2021 when the average export price increased by X%. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to Australia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Forged Bars Of Stainless Steel

Imports into Malaysia

Forged stainless steel bar imports into Malaysia dropped slightly to X tons in 2022, approximately equating 2021. Overall, imports saw a drastic downturn. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, forged stainless steel bar imports surged to $X in 2022. Over the period under review, imports showed a abrupt downturn. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

China (X tons), India (X tons) and Taiwan (Chinese) (X tons) were the main suppliers of forged stainless steel bar imports to Malaysia, with a combined X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of forged bars of stainless steel to Malaysia, comprising X% of total imports. The second position in the ranking was held by India ($X), with a X% share of total imports. It was followed by Japan, with a X% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and Japan (X% per year).

Import Prices by Country

In 2022, the average forged stainless steel bar import price amounted to $X per ton, with an increase of X% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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