South-Eastern Asia: Market for Forged Bars Of Stainless Steel 2024

Market Size for Forged Bars Of Stainless Steel in South-Eastern Asia

The Southeast Asian forged stainless steel bar market contracted modestly to $X in 2022, shrinking by X% against the previous year. Overall, consumption showed a pronounced setback. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Production of Forged Bars Of Stainless Steel in South-Eastern Asia

In value terms, forged stainless steel bar production reduced to $X in 2022 estimated in export price. In general, production saw a pronounced decrease. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Forged Bars Of Stainless Steel

Exports in South-Eastern Asia

In 2022, overseas shipments of forged bars of stainless steel decreased by X% to X tons, falling for the second year in a row after two years of growth. In general, exports recorded a abrupt setback. The most prominent rate of growth was recorded in 2015 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports failed to regain momentum.

In value terms, forged stainless steel bar exports fell to $X in 2022. Overall, exports showed a pronounced setback. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Singapore (X tons) represented the major exporter of forged bars of stainless steel, mixing up X% of total exports. Thailand (X tons) ranks second in terms of the total exports with a X% share, followed by Vietnam (X%) and Malaysia (X%).

From 2012 to 2022, average annual rates of growth with regard to forged stainless steel bar exports from Singapore stood at X%. Vietnam (X%), Thailand (X%) and Malaysia (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Singapore and Vietnam increased by X and X percentage points, respectively.

In value terms, Singapore ($X) remains the largest forged stainless steel bar supplier in South-Eastern Asia, comprising X% of total exports. The second position in the ranking was held by Vietnam ($X), with a X% share of total exports. It was followed by Thailand, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Singapore was relatively modest. In the other countries, the average annual rates were as follows: Vietnam (X% per year) and Thailand (X% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2022, surging by X% against the previous year. Overall, the export price saw a buoyant expansion. The most prominent rate of growth was recorded in 2021 when the export price increased by X% against the previous year. The level of export peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (X%), while the other leaders experienced more modest paces of growth.

Imports of Forged Bars Of Stainless Steel

Imports in South-Eastern Asia

In 2022, purchases abroad of forged bars of stainless steel decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, imports saw a abrupt setback. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, forged stainless steel bar imports expanded modestly to $X in 2022. Overall, imports continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Singapore represented the key importing country with an import of about X tons, which reached X% of total imports. It was distantly followed by Thailand (X tons), Indonesia (X tons), Malaysia (X tons), Vietnam (X tons) and the Philippines (X tons), together achieving a X% share of total imports. Brunei Darussalam (X tons) took a relatively small share of total imports.

From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of X%), while purchases for the other leaders experienced a decline in the imports figures.

In value terms, Singapore ($X), Thailand ($X) and Malaysia ($X) appeared to be the countries with the highest levels of imports in 2022, together comprising X% of total imports. Indonesia, Vietnam, the Philippines and Brunei Darussalam lagged somewhat behind, together comprising a further X%.

In terms of the main importing countries, Indonesia, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2022, with an increase of X% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of X%. The level of import peaked at $X per ton in 2019; afterwards, it flattened through to 2022.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the Philippines ($X per ton), while Brunei Darussalam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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