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India - Hot-Rolled Steel Bars and Rods - Market Analysis, Forecast, Size, Trends and Insights
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View PricingIndia's Exports of Hot-Rolled Steel Bar and Rod Plunge to $680M in 2023
India Hot-Rolled Steel Bar and Rod Exports
In 2023, shipments abroad of hot-rolled steel bars and rods decreased by -53.5% to 542K tons, falling for the second consecutive year after three years of growth. In general, exports, however, showed notable growth. The pace of growth appeared the most rapid in 2021 with an increase of 154%. As a result, the exports reached the peak of 2.5M tons. From 2022 to 2023, the growth of the exports remained at a lower figure.
In value terms, hot-rolled steel bar and rod exports fell sharply to $680M (IndexBox estimates) in 2023. Overall, exports, however, continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2021 with an increase of 234%. As a result, the exports attained the peak of $2B. From 2022 to 2023, the growth of the exports remained at a lower figure.
COUNTRY | Export Value of Hot-Rolled Steel Bar and Rod in India (million USD) | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
Nepal | 18.3 | 39.4 | 33.2 | 97.9 | 77.5 | 138 | 113 | 94.0 | 149 | 61.6 | 94.9 |
Italy | 24.0 | 29.3 | 22.0 | 42.2 | 35.4 | 40.3 | 40.9 | 38.9 | 123 | 177 | 91.9 |
Germany | 29.2 | 18.9 | 11.8 | 9.8 | 21.4 | 49.9 | 56.1 | 36.7 | 77.0 | 86.0 | 66.6 |
United Arab Emirates | 19.8 | 19.2 | 16.3 | 11.7 | 21.3 | 19.5 | 16.1 | 26.4 | 71.2 | 61.4 | 33.5 |
Turkey | 5.9 | 8.2 | 6.4 | 4.9 | 5.0 | 6.1 | 10.6 | 14.8 | 33.4 | 38.0 | 27.6 |
Mexico | 7.1 | 7.8 | 7.1 | 5.8 | 10.4 | 10.6 | 8.6 | 9.0 | 52.2 | 25.5 | 27.6 |
Bangladesh | 13.0 | 10.1 | 9.2 | 5.6 | 11.8 | 11.7 | 32.2 | 12.9 | 26.6 | 34.7 | 27.3 |
Taiwan (Chinese) | 15.3 | 30.3 | 6.4 | 9.6 | 26.6 | 14.3 | 9.9 | 16.7 | 182 | 25.5 | 18.6 |
Thailand | 29.3 | 21.9 | 18.6 | 12.5 | 23.1 | 26.5 | 20.6 | 38.1 | 153 | 39.0 | 15.1 |
Singapore | 1.2 | 1.6 | 1.7 | 0.5 | 70.4 | 50.5 | 20.0 | 8.2 | 195 | 37.9 | 1.7 |
Hong Kong | 0.8 | 0.6 | 0.1 | N/A | 103 | 42.1 | 81.8 | 83.8 | 364 | 87.6 | N/A |
Others | 241 | 223 | 148 | 98.3 | 290 | 232 | 234 | 231 | 611 | 660 | 276 |
Total | 405 | 411 | 281 | 299 | 696 | 641 | 644 | 611 | 2,037 | 1,335 | 680 |
Exports by Country
Nepal (158K tons) was the main destination for hot-rolled steel bar and rod exports from India, with a 29% share of total exports. Moreover, hot-rolled steel bar and rod exports to Nepal exceeded the volume sent to the second major destination, Italy (52K tons), threefold. The third position in this ranking was held by Bangladesh (39K tons), with a 7.2% share.
From 2013 to 2023, the average annual rate of growth in terms of volume to Nepal stood at +20.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+15.7% per year) and Bangladesh (+7.2% per year).
In value terms, the largest markets for hot-rolled steel bar and rod exported from India were Nepal ($95M), Italy ($92M) and Germany ($67M), with a combined 37% share of total exports.
In terms of the main countries of destination, Nepal, with a CAGR of +17.9%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.
Exports by Type
Iron or non-alloy steel; bars and rods, hot-rolled, in irregularly wound coils (230K tons) was the largest type of hot-rolled steel bars and rods exported from India, accounting for a 42% share of total exports. Moreover, iron or non-alloy steel; bars and rods, hot-rolled, in irregularly wound coils exceeded the volume of the second product type, iron or non-alloy steel; bars and rods, not further worked than forged, hot-rolled, hot drawn or hot-extruded, but including those twisted after rolling (88K tons), threefold. The third position in this ranking was held by hot-rolled bars in bearing steels (86K tons), with a 16% share.
From 2013 to 2023, the average annual rate of growth in terms of the volume of iron or non-alloy steel; bars and rods, hot-rolled, in irregularly wound coils exports amounted to +1.9%. With regard to the other exported products, the following average annual rates of growth were recorded: iron or non-alloy steel; bars and rods, not further worked than forged, hot-rolled, hot drawn or hot-extruded, but including those twisted after rolling (+2.1% per year) and hot-rolled bars in bearing steels (+6.4% per year).
In value terms, hot-rolled round bars of stainless steel ($162M), iron or non-alloy steel; bars and rods, hot-rolled, in irregularly wound coils ($140M) and hot-rolled wire rod in coil of stainless steel ($123M) appeared to be the most exported types of hot-rolled steel bars and rods from India worldwide, together accounting for 62% of total exports. Hot-rolled bars in bearing steels, steel, stainless, iron or non-alloy steel; bars and rods, not further worked than forged, hot-rolled, hot drawn or hot-extruded, but including those twisted after rolling and steel, alloy; bars and rods, hot-rolled, in irregularly wound coils lagged somewhat behind, together accounting for a further 38%.
Steel, stainless, with a CAGR of +53.0%, recorded the highest rates of growth with regard to the value of exports, among the main product categories over the period under review, while shipments for the other products experienced more modest paces of growth.
Export Prices by Country
In 2023, the hot-rolled steel bar and rod price amounted to $1,256 per ton (FOB, India), with an increase of 9.6% against the previous year. Overall, export price indicated a modest increase from 2013 to 2023: 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 2023 figures, hot-rolled steel bar and rod export price increased by +101.0% against 2020 indices. The pace of growth appeared the most rapid in 2022 an increase of 40%. The export price peaked in 2023 and is likely to see gradual growth in the near future.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($3,895 per ton), while the average price for exports to Nepal ($599 per ton) was amongst the lowest.
From 2013 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (+6.0%), while the prices for the other major destinations experienced more modest paces of growth.
This report provides an in-depth analysis of the market for hot-rolled steel bar and rod in India. 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:
- Prodcom 24106110 - Ribbed or other deformed wire rod (of non-alloy steel)
- Prodcom 24106120 - Wire rod of free-cutting steel
- Prodcom 24106130 - Wire rod used for concrete reinforcing (mesh/cold ribbed bars)
- Prodcom 24106140 - Wire rod for tyre cord
- Prodcom 24106190 - Other wire rod (of non-alloy steel)
- Prodcom 24106210 - Hot-rolled concrete reinforcing bars
- Prodcom 24106230 - Hot-rolled bars in free-cutting steels
- Prodcom 24106250 - Forged bars of steel and hot-rolled bars (excluding hollow drill bars and rods) of non-alloy steel (of other than of free-cutting steel)
- Prodcom 24106300 - Hot-rolled wire rod in coil, of stainless steel
- Prodcom 24106410 - Hot-rolled round bars, of stainless steel
- Prodcom 24106430 - Bars and rods of stainless steel, only hot-rolled, only hotdrawn or only extruded (excluding of circular cross-section)
- Prodcom 24106510 - Bars and rods of high-speed steel, hot-rolled, in irregularly wound coils
- Prodcom 24106530 - Bars and rods of silico-manganese steel, hot-rolled, in irregularly wound coils
- Prodcom 24106550 - Hot-rolled wire rod, of bearing steel
- Prodcom 24106570 - Bars and rods of alloy steel other than stainless, hot-rolled, in irregularly wound coils (excluding products of bearing steel, h igh-speed steel or silico-manganese steel)
- Prodcom 24106630 - Hot-rolled bars in bearing steels
- Prodcom 24106640 - Hot-rolled bars in tool steels
- Prodcom 24106650 - Hot-rolled bars (excluding hollow drill bars and rods) of alloy steel (other than of stainless, tool, silico-manganese, bearing and high speed steel)
Country coverage:
- India
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in India
- 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
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- 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
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- 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 -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- 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
- 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 Of Origin, 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, By Country Of Destination, 2012–2023