Southern Asia: Market for Hot-Rolled Wire Rod In Coil Of Stainless Steel 2025

Market Size for Hot-Rolled Wire Rod In Coil Of Stainless Steel in Southern Asia

The South Asian market for hot-rolled wire rod in coil of stainless steel fell sharply to $X in 2022, waning by -53.7% against the previous year. In general, consumption showed a abrupt contraction. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Production of Hot-Rolled Wire Rod In Coil Of Stainless Steel in Southern Asia

In value terms, hot-rolled wire stainless steel rod production fell slightly to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the production volume increased by 16%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Exports of Hot-Rolled Wire Rod In Coil Of Stainless Steel

Exports in Southern Asia

In 2022, shipments abroad of hot-rolled wire rod in coil of stainless steel increased by 22% to X tons, rising for the third consecutive year after three years of decline. Total exports indicated a strong expansion from 2012 to 2022: its volume increased at an average annual rate of +7.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +108.7% against 2019 indices. The most prominent rate of growth was recorded in 2016 with an increase of 38%. The volume of export peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, hot-rolled wire stainless steel rod exports skyrocketed to $X in 2022. Over the period under review, exports saw a resilient increase. The growth pace was the most rapid in 2021 with an increase of 63%. The level of export peaked in 2022 and is likely to see gradual growth in the immediate term.

Exports by Country

The biggest shipments were from India (X tons), together finishing at 99% of total export.

India was also the fastest-growing in terms of the hot-rolled wire rod in coil of stainless steel exports, with a CAGR of +7.0% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

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

From 2012 to 2022, the average annual growth rate of value in India amounted to +8.5%.

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2022, increasing by 17% against the previous year. Export price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, hot-rolled wire stainless steel rod export price increased by +54.0% against 2020 indices. The pace of growth was the most pronounced in 2017 an increase of 38% against the previous year. The level of export peaked in 2022 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 India.

From 2012 to 2022, the rate of growth in terms of prices for India amounted to +1.4% per year.

Imports of Hot-Rolled Wire Rod In Coil Of Stainless Steel

Imports in Southern Asia

In 2022, approx. X tons of hot-rolled wire rod in coil of stainless steel were imported in Southern Asia; shrinking by -43.5% compared with the previous year. Over the period under review, imports, however, showed a slight expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 82% against the previous year. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, hot-rolled wire stainless steel rod imports fell markedly to $X in 2022. In general, imports, however, enjoyed a slight increase. The growth pace was the most rapid in 2021 when imports increased by 112% against the previous year. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

India dominates imports structure, recording X tons, which was near 95% of total imports in 2022. Pakistan (X tons) followed a long way behind the leaders.

Imports into India increased at an average annual rate of +1.6% from 2012 to 2022. At the same time, Pakistan (+14.9%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +14.9% from 2012-2022. From 2012 to 2022, the share of Pakistan increased by +2.8 percentage points.

In value terms, India ($X) constitutes the largest market for imported hot-rolled wire rod in coil of stainless steel in Southern Asia, comprising 98% of total imports. The second position in the ranking was held by Pakistan ($X), with a 1.4% share of total imports.

In India, hot-rolled wire stainless steel rod imports expanded at an average annual rate of +1.8% over the period from 2012-2022.

Import Prices by Country

In 2022, the import price in Southern Asia amounted to $X per ton, surging by 39% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was India ($X per ton), while Pakistan totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Pakistan (+1.7%).

Source: IndexBox Platform

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