Southern Asia: Market for Hot-Rolled Steel Bars and Rods 2024

Market Size for Hot-Rolled Steel Bars and Rods in Southern Asia

In 2021, after two years of growth, there was significant decline in the South Asian market for hot-rolled steel bars and rods, when its value decreased by -13% to $X. The total consumption indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +7.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +91.9% against 2012 indices. The level of consumption peaked at $X in 2020, and then fell in the following year.

Production of Hot-Rolled Steel Bars and Rods in Southern Asia

In value terms, hot-rolled steel bar and rod production reduced modestly to $X in 2021 estimated in export price. The total production indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +5.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +78.6% against 2014 indices. The most prominent rate of growth was recorded in 2015 with an increase of 17% against the previous year. The level of production peaked at $X in 2020, and then shrank slightly in the following year.

Exports of Hot-Rolled Steel Bars and Rods

Exports in Southern Asia

For the third consecutive year, Southern Asia recorded growth in overseas shipments of hot-rolled steel bars and rods, which increased by 155% to X tons in 2021. Overall, exports continue to indicate a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, hot-rolled steel bar and rod exports soared to $X in 2021. In general, exports saw a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

India (X tons) represented roughly 100% of total exports in 2021.

India was also the fastest-growing in terms of the hot-rolled steel bars and rods exports, with a CAGR of +30.8% from 2012 to 2021. From 2012 to 2021, the share of India increased by +3.4 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest hot-rolled steel bar and rod supplier in Southern Asia.

In India, hot-rolled steel bar and rod exports increased at an average annual rate of +24.0% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Southern Asia amounted to $X per ton, increasing by 31% against the previous year. Overall, the export price, however, showed a drastic downturn. Over the period under review, the export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the rate of growth in terms of prices for India amounted to -5.2% per year.

Imports of Hot-Rolled Steel Bars and Rods

Imports in Southern Asia

In 2021, imports of hot-rolled steel bars and rods in Southern Asia contracted modestly to X tons, with a decrease of -3.1% against the previous year's figure. Overall, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of 82% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, hot-rolled steel bar and rod imports skyrocketed to $X in 2021. Over the period under review, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of 54% against the previous year. Over the period under review, imports attained the peak figure at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

India (X tons) and Nepal (X tons) represented roughly 59% of total imports in 2021. Pakistan (X tons) took the next position in the ranking, followed by Bangladesh (X tons) and Sri Lanka (X tons). All these countries together took approx. 34% share of total imports. The following importers - Maldives (X tons) and Afghanistan (X tons) - together made up 6.5% of total imports.

From 2012 to 2021, the biggest increases were recorded for Bangladesh (with a CAGR of +12.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, India ($X) constitutes the largest market for imported hot-rolled steel bars and rods in Southern Asia, comprising 46% of total imports. The second position in the ranking was held by Nepal ($X), with a 19% share of total imports. It was followed by Pakistan, with a 12% share.

From 2012 to 2021, the average annual growth rate of value in India stood at -3.7%. In the other countries, the average annual rates were as follows: Nepal (+9.6% per year) and Pakistan (+2.5% per year).

Import Prices by Country

In 2021, the import price in Southern Asia amounted to $X per ton, rising by 39% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+2.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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