Eastern Asia: Non-Alloy Steel U-Section Market 2024

Non-Alloy Steel U-Section Market Size in Eastern Asia

The East Asian non-alloy steel u-section market amounted to $X in 2023, surging by X% against the previous year. The total consumption indicated a notable increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2021 indices. The level of consumption peaked at $X in 2021; however, from 2022 to 2023, consumption stood at a somewhat lower figure.

Non-Alloy Steel U-Section Production in Eastern Asia

In value terms, non-alloy steel u-section production rose sharply to $X in 2023 estimated in export price. The total production indicated a moderate expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2020 when the production volume increased by X% against the previous year. Over the period under review, production reached the peak level at $X in 2021; however, from 2022 to 2023, production failed to regain momentum.

Non-Alloy Steel U-Section Exports

Exports in Eastern Asia

In 2023, overseas shipments of u-sections of non-alloy steel increased by X% to X tons, rising for the third consecutive year after two years of decline. In general, exports enjoyed a remarkable increase. The growth pace was the most rapid in 2017 with an increase of X%. Over the period under review, the exports hit record highs in 2023 and are expected to retain growth in the immediate term.

In value terms, non-alloy steel u-section exports dropped remarkably to $X in 2023. Overall, exports recorded prominent growth. The growth pace was the most rapid in 2017 with an increase of X%. Over the period under review, the exports attained the peak figure at $X in 2022, and then shrank remarkably in the following year.

Exports by Country

China was the main exporting country with an export of around X tons, which accounted for X% of total exports. Japan (X tons) held the second position in the ranking, distantly followed by South Korea (X tons) and Taiwan (Chinese) (X tons). All these countries together held near X% share of total exports.

China was also the fastest-growing in terms of the u-sections of non-alloy steel exports, with a CAGR of X% from 2012 to 2023. At the same time, Japan (X%) and South Korea (X%) displayed positive paces of growth. By contrast, Taiwan (Chinese) (X%) illustrated a downward trend over the same period. While the share of China (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of South Korea (X p.p.), Taiwan (Chinese) (X p.p.) and Japan (X p.p.) displayed negative dynamics.

In value terms, China ($X) remains the largest non-alloy steel u-section supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was held by Japan ($X), with a X% share of total exports. It was followed by South Korea, with a X% share.

In China, non-alloy steel u-section exports expanded at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Japan (X% per year) and South Korea (X% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2023, with a decrease of X% against the previous year. In general, the export price, however, recorded slight growth. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, the export prices reached the maximum at $X per ton in 2022, and then contracted dramatically in the following year.

Average prices varied noticeably amongst the major exporting countries. In 2023, major exporting countries recorded the following prices: in Taiwan (Chinese) ($X per ton) and China ($X per ton), while Japan ($X per ton) and South Korea ($X per ton) were amongst the lowest.

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

Non-Alloy Steel U-Section Imports

Imports in Eastern Asia

In 2023, supplies from abroad of u-sections of non-alloy steel decreased by X% to X tons, falling for the third year in a row after four years of growth. The total import volume increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at X tons in 2020; however, from 2021 to 2023, imports stood at a somewhat lower figure.

In value terms, non-alloy steel u-section imports contracted to $X in 2023. Total imports indicated a notable increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, imports reached the maximum at $X in 2022, and then declined in the following year.

Imports by Country

South Korea represented the major importing country with an import of around X tons, which reached X% of total imports. It was distantly followed by Hong Kong SAR (X tons), China (X tons) and Taiwan (Chinese) (X tons), together constituting a X% share of total imports. Democratic People's Republic of Korea (X tons) held a minor share of total imports.

From 2012 to 2023, average annual rates of growth with regard to non-alloy steel u-section imports into South Korea stood at X%. At the same time, Democratic People's Republic of Korea (X%), China (X%) and Taiwan (Chinese) (X%) displayed positive paces of growth. Moreover, Democratic People's Republic of Korea emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of X% from 2012-2023. By contrast, Hong Kong SAR (X%) illustrated a downward trend over the same period. South Korea (X p.p.), Democratic People's Republic of Korea (X p.p.) and China (X p.p.) significantly strengthened its position in terms of the total imports, while Hong Kong SAR saw its share reduced by X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Korea ($X) constitutes the largest market for imported u-sections of non-alloy steel in Eastern Asia, comprising X% of total imports. The second position in the ranking was taken by China ($X), with an X% share of total imports. It was followed by Hong Kong SAR, with a X% share.

In South Korea, non-alloy steel u-section imports expanded at an average annual rate of X% over the period from 2012-2023. The remaining importing countries recorded the following average annual rates of imports growth: China (X% per year) and Hong Kong SAR (X% per year).

Import Prices by Country

In 2023, the import price in Eastern Asia amounted to $X per ton, waning by X% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2022, and then dropped in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per ton), while Democratic People's Republic of Korea ($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 import price figures.

Source: IndexBox Platform