Report Update Nov 1, 2024

Philippines - Forged Bars of Stainless Steel - Market Analysis, Forecast, Size, Trends and Insights

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Philippines: Market for Forged Bars Of Stainless Steel 2024

Market Size for Forged Bars Of Stainless Steel in the Philippines

The Philippine forged stainless steel bar market dropped to $X in 2022, falling by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption saw a pronounced contraction. Forged stainless steel bar consumption peaked at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Exports of Forged Bars Of Stainless Steel

Exports from the Philippines

In 2022, after three years of growth, there was significant decline in shipments abroad of forged bars of stainless steel, when their volume decreased by X% to X kg. In general, exports showed a abrupt contraction. The pace of growth was the most pronounced in 2016 when exports increased by X%. As a result, the exports attained the peak of X tons. From 2017 to 2022, the growth of the exports failed to regain momentum.

In value terms, forged stainless steel bar exports shrank significantly to $X in 2022. Over the period under review, exports faced a abrupt curtailment. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

Micronesia (X kg) was the main destination for forged stainless steel bar exports from the Philippines, accounting for a approx. X% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Micronesia was relatively modest.

From 2012 to 2022, the average annual rate of growth in terms of value to Micronesia was relatively modest.

Export Prices by Country

The average forged stainless steel bar export price stood at $X per ton in 2022, growing by X% against the previous year. Over the period under review, the export price saw a moderate expansion. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for Micronesia.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to X% per year.

Imports of Forged Bars Of Stainless Steel

Imports into the Philippines

In 2022, approx. X tons of forged bars of stainless steel were imported into the Philippines; with a decrease of X% on the previous year. Overall, imports recorded a abrupt decline. The pace of growth appeared the most rapid in 2015 when imports increased by X%. As a result, imports reached the peak of X tons. From 2016 to 2022, the growth of imports remained at a lower figure.

In value terms, forged stainless steel bar imports contracted to $X in 2022. Over the period under review, imports showed a slight contraction. The pace of growth appeared the most rapid in 2015 with an increase of X%. Imports peaked at $X in 2016; however, from 2017 to 2022, imports failed to regain momentum.

Imports by Country

Japan (X tons), China (X tons) and Vietnam (X tons) were the main suppliers of forged stainless steel bar imports to the Philippines, with a combined X% share of total imports. Taiwan (Chinese), India, Malaysia and South Korea lagged somewhat behind, together comprising a further X%.

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

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

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

Import Prices by Country

In 2022, the average forged stainless steel bar import price amounted to $X per ton, picking up by X% against the previous year. Overall, the import price saw buoyant growth. The most prominent rate of growth was recorded in 2017 when the average import price increased by X% against the previous year. Over the period under review, average import prices attained the maximum in 2022 and is likely to continue growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the price for India ($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 more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for forged bars of stainless steel in the world?

China remains the largest forged stainless steel bar consuming country worldwide, comprising approx. 27% of total volume. Moreover, forged stainless steel bar consumption in China exceeded the figures recorded by the second-largest consumer, India, twofold. The third position in this ranking was occupied by the United States, with a 7.6% share.

What are the largest producers of forged bars of stainless steel in the world?

The country with the largest volume of forged stainless steel bar production was China, comprising approx. 27% of total volume. Moreover, forged stainless steel bar production in China exceeded the figures recorded by the second-largest producer, India, twofold. The United States ranked third in terms of total production with a 7.6% share.

What are the leading suppliers of forged bars of stainless steel to the Philippines?

In value terms, the largest forged stainless steel bar suppliers to the Philippines were Japan, Taiwan Chinese) and China, with a combined 81% share of total imports. Hong Kong SAR, India and Malaysia lagged somewhat behind, together accounting for a further 12%.

What is the average export price for forged bars of stainless steel in the Philippines?

The average forged stainless steel bar export price stood at $2,333 per ton in 2020, dropping by -26% against the previous year.

What is the average import price for forged bars of stainless steel in the Philippines?

The average forged stainless steel bar import price stood at $3,400 per ton in 2020, with a decrease of -19.4% against the previous year.

This report provides an in-depth analysis of the market for forged stainless steel bar in the Philippines. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 24106450 - Forged bars, of stainless steel

Country coverage:

Philippines

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in the Philippines
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023