Thailand: Market for Hot-Rolled Steel Bars and Rods 2025

Market Size for Hot-Rolled Steel Bars and Rods in Thailand

In 2021, the Thai market for hot-rolled steel bars and rods was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Overall, consumption saw a relatively flat trend pattern. Hot-rolled steel bar and rod consumption peaked at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Production of Hot-Rolled Steel Bars and Rods in Thailand

In value terms, hot-rolled steel bar and rod production expanded modestly to $X in 2021 estimated in export price. Overall, production recorded a perceptible decline. The growth pace was the most rapid in 2016 with an increase of 107%. Hot-rolled steel bar and rod production peaked at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Exports of Hot-Rolled Steel Bars and Rods

Exports from Thailand

In 2021, shipments abroad of hot-rolled steel bars and rods decreased by -5.5% to X tons, falling for the third year in a row after three years of growth. Over the period under review, exports continue to indicate a perceptible downturn. The most prominent rate of growth was recorded in 2013 when exports increased by 23%. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, hot-rolled steel bar and rod exports soared to $X in 2021. In general, exports continue to indicate a pronounced reduction. The pace of growth appeared the most rapid in 2018 when exports increased by 42% against the previous year. Over the period under review, the exports reached the maximum at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Lao People's Democratic Republic (X tons), India (X tons) and Canada (X tons) were the main destinations of hot-rolled steel bar and rod exports from Thailand, together accounting for 65% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Canada (with a CAGR of +573.3%), while the other leaders experienced more modest paces of growth.

In value terms, Lao People's Democratic Republic ($X), Indonesia ($X) and Canada ($X) were the largest markets for hot-rolled steel bar and rod exported from Thailand worldwide, with a combined 64% share of total exports.

Canada, with a CAGR of +502.2%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for hot-rolled steel bars and rods stood at $X per ton in 2021, increasing by 38% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat for the major foreign markets. In 2021, amid the top suppliers, the countries with the highest prices were Indonesia ($X per ton) and Australia ($X per ton), while the average price for exports to India ($X per ton) and Papua New Guinea ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia (+1.9%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Hot-Rolled Steel Bars and Rods

Imports into Thailand

In 2021, purchases abroad of hot-rolled steel bars and rods was finally on the rise to reach X tons after two years of decline. The total import volume increased at an average annual rate of +3.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2016 when imports increased by 33%. As a result, imports attained the peak of X tons. From 2017 to 2021, the growth of imports failed to regain momentum.

In value terms, hot-rolled steel bar and rod imports soared to $X in 2021. The total import value increased at an average annual rate of +1.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Japan (X tons), China (X tons) and India (X tons) were the main suppliers of hot-rolled steel bar and rod imports to Thailand, together comprising 66% of total imports. South Korea, Malaysia, Vietnam and Taiwan (Chinese) lagged somewhat behind, together accounting for a further 30%.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +99.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest hot-rolled steel bar and rod suppliers to Thailand were Japan ($X), China ($X) and South Korea ($X), together comprising 71% of total imports. India, Malaysia, Taiwan (Chinese) and Vietnam lagged somewhat behind, together comprising a further 26%.

Vietnam, with a CAGR of +70.9%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for hot-rolled steel bars and rods stood at $X per ton in 2021, rising by 38% against the previous year. Over the period under review, the import price, however, showed a perceptible shrinkage. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (-0.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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