Asia-Pacific: Market for Ribbed Or Other Deformed Wire Rod Of Non-Alloy Steel 2024

Market Size for Ribbed Or Other Deformed Wire Rod Of Non-Alloy Steel in Asia-Pacific

The Asia-Pacific market for ribbed or other deformed wire rod of non-alloy steel rose significantly to $X in 2023, picking up by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the peak level in 2023 and is expected to retain growth in years to come.

Production of Ribbed Or Other Deformed Wire Rod Of Non-Alloy Steel in Asia-Pacific

In value terms, deformed non-alloy steel wire rod production amounted to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2022 to 2023, production growth remained at a somewhat lower figure.

Exports of Ribbed Or Other Deformed Wire Rod Of Non-Alloy Steel

Exports in Asia-Pacific

In 2023, shipments abroad of ribbed or other deformed wire rod of non-alloy steel decreased by X% to X tons, falling for the second year in a row after two years of growth. Overall, exports, however, saw a modest increase. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. The volume of export peaked at X tons in 2021; however, from 2022 to 2023, the exports stood at a somewhat lower figure.

In value terms, deformed non-alloy steel wire rod exports declined notably to $X in 2023. In general, exports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of X%. The level of export peaked at $X in 2021; however, from 2022 to 2023, the exports remained at a lower figure.

Exports by Country

In 2023, China (X tons) represented the major exporter of ribbed or other deformed wire rod of non-alloy steel, committing X% of total exports. Singapore (X tons) held the second position in the ranking, distantly followed by New Zealand (X tons), Japan (X tons) and Vietnam (X tons). All these countries together took approx. X% share of total exports. The following exporters - South Korea (X tons) and Indonesia (X tons) - together made up X% of total exports.

From 2012 to 2023, average annual rates of growth with regard to deformed non-alloy steel wire rod exports from China stood at X%. At the same time, Singapore (X%), Indonesia (X%) and Japan (X%) displayed positive paces of growth. Moreover, Singapore emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of X% from 2012-2023. By contrast, New Zealand (X%), South Korea (X%) and Vietnam (X%) illustrated a downward trend over the same period. China (X p.p.), Singapore (X p.p.) and Indonesia (X p.p.) significantly strengthened its position in terms of the total exports, while South Korea, New Zealand and Vietnam saw its share reduced by X%, X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest deformed non-alloy steel wire rod supplier in Asia-Pacific, comprising X% of total exports. The second position in the ranking was taken by Singapore ($X), with a X% share of total exports. It was followed by New Zealand, with a X% share.

From 2012 to 2023, the average annual growth rate of value in China totaled X%. In the other countries, the average annual rates were as follows: Singapore (X% per year) and New Zealand (X% per year).

Export Prices by Country

In 2023, the export price in Asia-Pacific amounted to $X per ton, with a decrease of X% against the previous year. In general, the export price recorded a mild decline. The most prominent rate of growth was recorded in 2021 when the export price increased by X%. The level of export peaked at $X per ton in 2022, and then declined significantly in the following year.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the other leaders experienced mixed trends in the export price figures.

Imports of Ribbed Or Other Deformed Wire Rod Of Non-Alloy Steel

Imports in Asia-Pacific

In 2023, approx. X tons of ribbed or other deformed wire rod of non-alloy steel were imported in Asia-Pacific; with an increase of X% compared with 2022 figures. In general, imports, however, saw a perceptible descent. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of X tons. From 2022 to 2023, the growth of imports failed to regain momentum.

In value terms, deformed non-alloy steel wire rod imports skyrocketed to $X in 2023. Over the period under review, imports, however, showed a noticeable reduction. The growth pace was the most rapid in 2021 with an increase of X%. As a result, imports reached the peak of $X. From 2022 to 2023, the growth of imports remained at a lower figure.

Imports by Country

Singapore represented the largest importing country with an import of around X tons, which recorded X% of total imports. Australia (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by the Philippines (X%). The following importers - Cambodia (X tons), Hong Kong SAR (X tons), Malaysia (X tons) and Lao People's Democratic Republic (X tons) - each recorded a X% share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by the Philippines (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest deformed non-alloy steel wire rod importing markets in Asia-Pacific were Singapore ($X), Australia ($X) and the Philippines ($X), with a combined X% share of total imports.

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

Import Prices by Country

In 2023, the import price in Asia-Pacific amounted to $X per ton, remaining relatively unchanged against the previous year. In general, the import price, however, continues to indicate a slight expansion. The pace of growth was the most pronounced in 2022 when the import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton, leveling off in the following year.

Average prices varied somewhat amongst the major importing countries. In 2023, major importing countries recorded the following prices: in the Philippines ($X per ton) and Australia ($X per ton), while Cambodia ($X per ton) and Malaysia ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the Philippines (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform