Asia-Pacific - Iron and Steel - Market Analysis, Forecast, Size, Trends and Insights
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View PricingAsia-Pacific: Iron And Steel Market 2024
Iron And Steel Market Size in Asia-Pacific
The Asia-Pacific iron and steel market reduced remarkably to $X in 2023, shrinking by X% against the previous year. Over the period under review, consumption, however, continues to indicate a perceptible increase. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2023, consumption remained at a lower figure.
Iron And Steel Production in Asia-Pacific
In value terms, iron and steel production reduced to $X in 2023 estimated in export price. The total production indicated perceptible growth 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, production increased by X% against 2021 indices. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2023, production failed to regain momentum.
Iron And Steel Exports
Exports in Asia-Pacific
Iron and steel exports contracted dramatically to X tons in 2023, waning by X% against the year before. Over the period under review, exports continue to indicate a mild decrease. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2023, the exports failed to regain momentum.
In value terms, iron and steel exports dropped significantly to $X in 2023. Overall, exports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of X%. Over the period under review, the exports reached the peak figure at $X in 2022, and then shrank rapidly in the following year.
Exports by Country
India was the largest exporting country with an export of about X tons, which reached X% of total exports. It was distantly followed by Democratic People's Republic of Korea (X tons), Japan (X tons), South Korea (X tons), Malaysia (X tons) and Vietnam (X tons), together achieving a X% share of total exports. Indonesia (X tons) took a minor share of total exports.
From 2012 to 2023, average annual rates of growth with regard to iron and steel exports from India stood at X%. At the same time, Vietnam (X%), Malaysia (X%) and South Korea (X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of X% from 2012-2023. By contrast, Indonesia (X%), Democratic People's Republic of Korea (X%) and Japan (X%) illustrated a downward trend over the same period. India (X p.p.), South Korea (X p.p.), Malaysia (X p.p.) and Vietnam (X p.p.) significantly strengthened its position in terms of the total exports, while Japan saw its share reduced by X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, India ($X) remains the largest iron and steel supplier in Asia-Pacific, comprising X% of total exports. The second position in the ranking was taken by Indonesia ($X), with a X% share of total exports. It was followed by Japan, with an X% share.
From 2012 to 2023, the average annual rate of growth in terms of value in India totaled X%. The remaining exporting countries recorded the following average annual rates of exports growth: Indonesia (X% per year) and Japan (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. Export price indicated modest growth from 2012 to 2023: its price 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, iron and steel export price increased by X% against 2020 indices. The growth pace was the most rapid in 2021 when the export price increased by X%. The level of export peaked at $X per ton in 2022, and then fell markedly in the following year.
There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Indonesia ($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 Indonesia (X%), while the other leaders experienced more modest paces of growth.
Iron And Steel Imports
Imports in Asia-Pacific
In 2023, purchases abroad of iron and steel decreased by X% to X tons, falling for the third consecutive year after two years of growth. In general, imports recorded a abrupt descent. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. From 2021 to 2023, the growth of imports remained at a lower figure.
In value terms, iron and steel imports fell significantly to $X in 2023. Overall, imports showed a noticeable setback. The most prominent rate of growth was recorded in 2020 with an increase of X%. As a result, imports attained the peak of $X. From 2021 to 2023, the growth of imports remained at a somewhat lower figure.
Imports by Country
The countries with the highest levels of iron and steel imports in 2023 were Taiwan (Chinese) (X tons), China (X tons) and India (X tons), together amounting to X% of total import. It was distantly followed by South Korea (X tons), making up an X% share of total imports. Hong Kong SAR (X tons), Bangladesh (X tons), Vietnam (X tons), Thailand (X tons), Indonesia (X tons), Nepal (X tons) and Japan (X tons) followed a long way behind the leaders.
From 2012 to 2023, the biggest increases were recorded for Nepal (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.
In value terms, the largest iron and steel importing markets in Asia-Pacific were China ($X), Taiwan (Chinese) ($X) and India ($X), together comprising X% of total imports. South Korea, Bangladesh, Indonesia, Thailand, Vietnam, Nepal, Japan and Hong Kong SAR lagged somewhat behind, together accounting for a further X%.
Among the main importing countries, Nepal, with a CAGR of X%, saw the highest growth rate of 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, which is down by X% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of X%. Over the period under review, import prices hit record highs at $X per ton in 2022, and then declined in the following year.
Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Indonesia ($X per ton), while Hong Kong SAR ($X per ton) was 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.
Source: IndexBox Platform
This report provides an in-depth analysis of the iron and steel market in Asia-Pacific. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
Country coverage:
- Afghanistan
- American Samoa
- Australia
- Bangladesh
- Bhutan
- Brunei Darussalam
- Cambodia
- China
- Cook Islands
- Democratic People's Republic of Korea
- Fiji
- French Polynesia
- Guam
- Hong Kong SAR
- India
- Indonesia
- Japan
- Kiribati
- Lao People's Democratic Republic
- Macao SAR
- Malaysia
- Maldives
- Marshall Islands
- Micronesia
- Myanmar
- Nauru
- Nepal
- New Caledonia
- New Zealand
- Niue
- Northern Mariana Islands
- Pakistan
- Palau
- Papua New Guinea
- Philippines
- Samoa
- Singapore
- Solomon Islands
- South Korea
- Sri Lanka
- Taiwan (Chinese)
- Thailand
- Timor-Leste
- Tokelau
- Tonga
- Tuvalu
- Vanuatu
- Vietnam
- Wallis and Futuna Islands
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Production in Asia-Pacific, split by region and country
- Trade (exports and imports) in Asia-Pacific
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- CONSUMPTION BY COUNTRY
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
- PRODUCTION BY COUNTRY
8. IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Exporters on The Market and How They Succeed
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
11. COUNTRY PROFILES
The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO- Afghanistan
- Australia
- Bangladesh
- Bhutan
- Brunei Darussalam
- Cambodia
- China
- Hong Kong SAR
- Macao SAR
- Cook Islands
- Fiji
- French Polynesia
- India
- Indonesia
- Japan
- Kiribati
- Malaysia
- Maldives
- Marshall Islands
- Micronesia
- Myanmar
- Nepal
- New Caledonia
- New Zealand
- Northern Mariana Islands
- Pakistan
- Palau
- Papua New Guinea
- Philippines
- Samoa
- Singapore
- Solomon Islands
- South Korea
- Sri Lanka
- Taiwan (Chinese)
- Thailand
- Timor-Leste
- Tokelau
- Tonga
- Tuvalu
- Vanuatu
- Vietnam
- Wallis and Futuna Islands
- Lao People's Democratic Republic
- American Samoa
- Democratic People's Republic of Korea
- Nauru
- Niue
- Guam
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LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption, By Country, 2018–2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Destination, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Origin, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Consumption, By Country, 2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Production, By Country, 2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, 2012–2023
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