Pakistan: Market for Forged Bars Of Stainless Steel 2024

Market Size for Forged Bars Of Stainless Steel in Pakistan

In 2022, the Pakistani forged stainless steel bar market increased by X% to $X, rising for the second year in a row after four years of decline. Overall, consumption saw buoyant growth. Over the period under review, the market attained the maximum level in 2022 and is expected to retain growth in the immediate term.

Exports of Forged Bars Of Stainless Steel

Exports from Pakistan

In 2022, exports of forged bars of stainless steel from Pakistan dropped remarkably to X tons, falling by X% compared with 2021. Over the period under review, exports saw a sharp curtailment. The pace of growth was the most pronounced in 2021 when exports increased by X%. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, forged stainless steel bar exports contracted remarkably to $X in 2022. In general, exports recorded a abrupt setback. The growth pace was the most rapid in 2019 with an increase of X%. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Kenya (X tons) was the main destination for forged stainless steel bar exports from Pakistan, with a X% share of total exports. Moreover, forged stainless steel bar exports to Kenya exceeded the volume sent to the second major destination, Canada (X kg), fourfold. The third position in this ranking was taken by Brazil (X kg), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Kenya was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (X% per year) and Brazil (X% per year).

In value terms, the largest markets for forged stainless steel bar exported from Pakistan were Kenya ($X), Canada ($X) and Brazil ($X), together accounting for X% of total exports.

Among the main countries of destination, Canada, with a CAGR of X%, 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 forged stainless steel bar export price stood at $X per ton in 2022, picking up by X% against the previous year. Over the period under review, the export price continues to indicate a strong increase. The pace of growth appeared the most rapid in 2019 an increase of X% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Bahrain ($X per ton), while the average price for exports to Kenya ($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 Saudi Arabia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Forged Bars Of Stainless Steel

Imports into Pakistan

In 2022, supplies from abroad of forged bars of stainless steel increased by X% to X tons, rising for the second year in a row after three years of decline. Over the period under review, imports posted prominent growth. The growth pace was the most rapid in 2016 with an increase of X%. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, forged stainless steel bar imports soared to $X in 2022. In general, imports posted a buoyant increase. The growth pace was the most rapid in 2016 with an increase of X%. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, China (X tons) constituted the largest forged stainless steel bar supplier to Pakistan, accounting for a X% share of total imports. Moreover, forged stainless steel bar imports from China exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), fourfold. Taiwan (Chinese) (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (X% per year) and Taiwan (Chinese) (X% per year).

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

From 2012 to 2022, the average annual growth rate of value from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (X% per year) and Taiwan (Chinese) (X% per year).

Import Prices by Country

In 2022, the average forged stainless steel bar import price amounted to $X per ton, with a decrease of X% against the previous year. Overall, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 an increase of X% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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