Asia: 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

The Asian market for ribbed or other deformed wire rod of non-alloy steel rose slightly to $X in 2023, surging by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2022 to 2023, the growth of the market remained at a somewhat lower figure.

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

In value terms, deformed non-alloy steel wire rod production expanded to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2017 with an increase of X%. The level of production peaked at $X in 2021; however, from 2022 to 2023, production remained at a lower figure.

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

Exports in Asia

In 2023, shipments abroad of ribbed or other deformed wire rod of non-alloy steel decreased by X% to X tons, falling for the third year in a row after four years of growth. Overall, exports, however, saw a remarkable increase. The pace of growth appeared the most rapid in 2017 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2020; however, from 2021 to 2023, the exports remained at a lower figure.

In value terms, deformed non-alloy steel wire rod exports dropped markedly to $X in 2023. In general, exports, however, recorded moderate growth. The most prominent rate of growth was recorded in 2017 when exports increased by X%. The level of export peaked at $X in 2021; however, from 2022 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Turkey represented the key exporting country with an export of about X tons, which finished at X% of total exports. China (X tons) ranks second in terms of the total exports with a X% share, followed by the United Arab Emirates (X%) and Saudi Arabia (X%). Singapore (X tons) held a relatively small share of total exports.

From 2012 to 2023, average annual rates of growth with regard to deformed non-alloy steel wire rod exports from Turkey stood at X%. At the same time, Singapore (X%), Saudi Arabia (X%) and China (X%) displayed positive paces of growth. Moreover, Singapore emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2023. By contrast, the United Arab Emirates (X%) illustrated a downward trend over the same period. While the share of China (X p.p.), Turkey (X p.p.), Saudi Arabia (X p.p.) and Singapore (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of the United Arab Emirates (X p.p.) displayed negative dynamics.

In value terms, Turkey ($X) remains the largest deformed non-alloy steel wire rod supplier in Asia, comprising X% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a X% share of total exports. It was followed by China, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in Turkey amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (X% per year) and China (X% per year).

Export Prices by Country

In 2023, the export price in Asia amounted to $X per ton, reducing by X% against the previous year. In general, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2022, and then fell notably in the following year.

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

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

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

Imports in Asia

In 2023, deformed non-alloy steel wire rod imports in Asia surged to X tons, with an increase of X% compared with the previous year's figure. Overall, imports, however, saw a mild decline. The pace of growth appeared the most rapid in 2021 when imports increased by X%. 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 soared to $X in 2023. In general, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2022 to 2023, the growth of imports remained at a somewhat lower figure.

Imports by Country

Israel was the largest importing country with an import of about X tons, which finished at X% of total imports. Singapore (X tons) held the second position in the ranking, distantly followed by Iraq (X tons). All these countries together took approx. X% share of total imports. The Philippines (X tons), Kuwait (X tons) and Cyprus (X tons) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to deformed non-alloy steel wire rod imports into Israel stood at X%. At the same time, Kuwait (X%), Iraq (X%), the Philippines (X%) and Cyprus (X%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing importer imported in Asia, with a CAGR of X% from 2012-2023. By contrast, Singapore (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Israel, Iraq, the Philippines and Kuwait increased by X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Israel ($X) constitutes the largest market for imported ribbed or other deformed wire rod of non-alloy steel in Asia, comprising X% of total imports. The second position in the ranking was taken by Singapore ($X), with a X% share of total imports. It was followed by Iraq, with a X% share.

From 2012 to 2023, the average annual growth rate of value in Israel amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: Singapore (X% per year) and Iraq (X% per year).

Import Prices by Country

In 2023, the import price in Asia amounted to $X per ton, which is down by X% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of X%. The level of import peaked at $X per ton in 2022, and then contracted 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 ($X per ton) and Kuwait ($X per ton), while Iraq ($X per ton) and Israel ($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