Thailand: Market for Hot-Rolled Bars Of High Speed Steel 2024

Market Size for Hot-Rolled Bars Of High Speed Steel in Thailand

The Thai market for hot-rolled bars of high speed steel reduced to $X in 2022, dropping by -3% against the previous year. In general, consumption showed a slight downturn. Hot-rolled high speed steel bar consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Production of Hot-Rolled Bars Of High Speed Steel in Thailand

In value terms, hot-rolled high speed steel bar production dropped slightly to $X in 2022 estimated in export price. In general, production saw a noticeable reduction. The most prominent rate of growth was recorded in 2018 with an increase of 15%. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Hot-Rolled Bars Of High Speed Steel

Exports from Thailand

Hot-rolled high speed steel bar exports from Thailand dropped sharply to X tons in 2022, which is down by -22.1% against 2021 figures. Overall, exports recorded a abrupt contraction. The pace of growth was the most pronounced in 2020 when exports increased by 32% against the previous year. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, hot-rolled high speed steel bar exports declined to $X in 2022. Over the period under review, exports recorded a abrupt slump. The most prominent rate of growth was recorded in 2019 when exports increased by 51% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Myanmar (X tons) was the main destination for hot-rolled high speed steel bar exports from Thailand, accounting for a 90% share of total exports. Moreover, hot-rolled high speed steel bar exports to Myanmar exceeded the volume sent to the second major destination, Lao People's Democratic Republic (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Myanmar stood at +64.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lao People's Democratic Republic (+2.7% per year) and Qatar (-54.6% per year).

In value terms, Myanmar ($X) remains the key foreign market for hot-rolled bars of high speed steel exports from Thailand, comprising 82% of total exports. The second position in the ranking was held by Lao People's Democratic Republic ($X), with a 4.4% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Myanmar totaled +41.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lao People's Democratic Republic (+9.6% per year) and Qatar (-26.6% per year).

Export Prices by Country

In 2022, the average export price for hot-rolled bars of high speed steel amounted to $X per ton, increasing by 10% against the previous year. In general, the export price, however, saw a slight decline. The most prominent rate of growth was recorded in 2019 an increase of 52% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Qatar ($X per ton), while the average price for exports to Lao People's Democratic Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Qatar (+61.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Hot-Rolled Bars Of High Speed Steel

Imports into Thailand

Hot-rolled high speed steel bar imports into Thailand soared to X tons in 2022, jumping by 73% on the previous year. In general, imports saw a significant increase. The pace of growth appeared the most rapid in 2021 with an increase of 279%. Imports peaked in 2022 and are likely to continue growth in the near future.

In value terms, hot-rolled high speed steel bar imports skyrocketed to $X in 2022. Overall, imports recorded significant growth. The most prominent rate of growth was recorded in 2021 when imports increased by 138% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to continue growth in the near future.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of hot-rolled high speed steel bar to Thailand, accounting for a 81% share of total imports. Moreover, hot-rolled high speed steel bar imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), sixfold. Austria (X tons) ranked third in terms of total imports with a 3.7% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +46.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+13.0% per year) and Austria (+11.3% per year).

In value terms, China ($X) constituted the largest supplier of hot-rolled bars of high speed steel to Thailand, comprising 79% of total imports. The second position in the ranking was taken by Japan ($X), with a 15% share of total imports. It was followed by Austria, with a 3.9% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +57.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+6.8% per year) and Austria (+9.0% per year).

Import Prices by Country

The average import price for hot-rolled bars of high speed steel stood at $X per ton in 2022, rising by 6.7% against the previous year. In general, the import price, however, saw a perceptible contraction. The pace of growth was the most pronounced in 2015 an increase of 414%. The import price peaked at $X per ton in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+9.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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