Overview of the Global Market for Hot-Rolled Wire Rod In Coil Of Stainless Steel

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

The global market for hot-rolled wire rod in coil of stainless steel rose rapidly to $X in 2022, picking up by 13% against the previous year. In general, the total consumption indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +75.2% against 2016 indices. Global consumption peaked in 2022 and is likely to see gradual growth in the immediate term.

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

In value terms, hot-rolled wire stainless steel rod production fell to $X in 2022 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 18% against the previous year. As a result, production attained the peak level of $X, and then reduced in the following year.

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

Exports

In 2022, the amount of hot-rolled wire rod in coil of stainless steel exported worldwide contracted to X tons, waning by -11.3% compared with the previous year's figure. The total export volume increased at an average annual rate of +1.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by 25% against the previous year. The global exports peaked at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, hot-rolled wire stainless steel rod exports rose significantly to $X in 2022. Overall, total exports indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +3.3% 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 +75.0% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 60% against the previous year. Over the period under review, the global exports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

Exports by Country

In 2022, Taiwan (Chinese) (X tons), China (X tons), Italy (X tons), Japan (X tons), India (X tons), Spain (X tons), France (X tons), South Korea (X tons) and Sweden (X tons) was the key exporter of hot-rolled wire rod in coil of stainless steel in the world, achieving 91% of total export.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +7.0%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, Italy ($X), Japan ($X) and China ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined 41% share of global exports. Taiwan (Chinese), Spain, Sweden, India, France and South Korea lagged somewhat behind, together accounting for a further 49%.

India, with a CAGR of +8.5%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for hot-rolled wire rod in coil of stainless steel stood at $X per ton in 2022, with an increase of 23% against the previous year. In general, export price indicated a slight increase from 2012 to 2022: its price increased at an average annual rate of +1.7% 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 +57.3% against 2020 indices. The growth pace was the most rapid in 2017 an increase of 29% against the previous year. The global export price peaked in 2022 and is expected to retain growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+2.9%), while the other global leaders experienced more modest paces of growth.

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

Imports

After two years of growth, supplies from abroad of hot-rolled wire rod in coil of stainless steel decreased by -6% to X tons in 2022. The total import volume increased at an average annual rate of +3.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 when imports increased by 28%. Over the period under review, global imports reached the maximum at X tons in 2021, and then fell in the following year.

In value terms, hot-rolled wire stainless steel rod imports soared to $X in 2022. Over the period under review, total imports indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +79.8% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 50% against the previous year. Over the period under review, global imports hit record highs in 2022 and are expected to retain growth in years to come.

Imports by Country

The purchases of the twelve major importers of hot-rolled wire rod in coil of stainless steel, namely Italy, Germany, Vietnam, South Korea, China, Thailand, the United States, Switzerland, Malaysia, the Czech Republic, Taiwan (Chinese) and India, represented more than two-thirds of total import.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Switzerland (with a CAGR of +26.2%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, Italy ($X), Germany ($X) and China ($X) constituted the countries with the highest levels of imports in 2022, together accounting for 38% of global imports. The United States, Switzerland, Thailand, South Korea, Vietnam, the Czech Republic, Malaysia, India and Taiwan (Chinese) lagged somewhat behind, together accounting for a further 45%.

Switzerland, with a CAGR of +58.1%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for hot-rolled wire rod in coil of stainless steel stood at $X per ton in 2022, jumping by 27% against the previous year. Overall, import price indicated a slight increase from 2012 to 2022: its price increased at an average annual rate of +1.3% 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 import price increased by +54.1% against 2020 indices. As a result, import price reached 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 China ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Switzerland (+25.3%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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