Asia: Stainless Steel Angle Market 2024

Stainless Steel Angle Market Size in Asia

After two years of growth, the Asian stainless steel angle market decreased by X% to $X in 2023. In general, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2023, consumption remained at a lower figure.

Stainless Steel Angle Production in Asia

In value terms, stainless steel angle production stood at $X in 2023 estimated in export price. In general, production continues to indicate a mild downturn. The growth pace was the most rapid in 2018 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2015; however, from 2016 to 2023, production failed to regain momentum.

Stainless Steel Angle Exports

Exports in Asia

For the fourth year in a row, Asia recorded decline in overseas shipments of angles, shapes and sections of stainless steel or other alloy steel, which decreased by X% to X tons in 2023. Overall, exports showed a sharp slump. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2015; however, from 2016 to 2023, the exports remained at a lower figure.

In value terms, stainless steel angle exports dropped significantly to $X in 2023. Over the period under review, exports continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2013 with an increase of X%. The level of export peaked at $X in 2014; however, from 2015 to 2023, the exports remained at a lower figure.

Exports by Country

In 2023, China (X tons), distantly followed by India (X tons), South Korea (X tons), Turkey (X tons) and Japan (X tons) were the major exporters of angles, shapes and sections of stainless steel or other alloy steel, together creating X% of total exports. The following exporters - Vietnam (X tons) and Thailand (X tons) - each accounted for a X% share of total exports.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Vietnam (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, India ($X), China ($X) and Japan ($X) appeared to be the countries with the highest levels of exports in 2023, with a combined X% share of total exports. South Korea, Turkey, Vietnam and Thailand lagged somewhat behind, together accounting for a further X%.

Vietnam, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Asia stood at $X per ton in 2023, with a decrease of X% against the previous year. Overall, the export price, however, enjoyed a strong expansion. The pace of growth was the most pronounced in 2022 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton, and then shrank 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 India ($X per ton), while Thailand ($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 mixed trends in the export price figures.

Stainless Steel Angle Imports

Imports in Asia

In 2023, after six years of decline, there was significant growth in purchases abroad of angles, shapes and sections of stainless steel or other alloy steel, when their volume increased by X% to X tons. In general, imports, however, faced a deep slump. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. As a result, imports reached the peak of X tons. From 2017 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, stainless steel angle imports dropped to $X in 2023. Over the period under review, imports, however, saw a abrupt contraction. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2023, imports failed to regain momentum.

Imports by Country

South Korea was the main importing country with an import of around X tons, which recorded X% of total imports. Vietnam (X tons) ranks second in terms of the total imports with an X% share, followed by Indonesia (X%), Lebanon (X%), Bangladesh (X%), Taiwan (Chinese) (X%) and Singapore (X%). China (X tons), Turkey (X tons), Kazakhstan (X tons), the Philippines (X tons), Kuwait (X tons) and Malaysia (X tons) held a relatively small share of total imports.

From 2012 to 2023, average annual rates of growth with regard to stainless steel angle imports into South Korea stood at X%. At the same time, Taiwan (Chinese) (X%), Lebanon (X%), Turkey (X%), the Philippines (X%) and Bangladesh (X%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing importer imported in Asia, with a CAGR of X% from 2012-2023. Singapore and Kazakhstan experienced a relatively flat trend pattern. By contrast, China (X%), Vietnam (X%), Kuwait (X%), Indonesia (X%) and Malaysia (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of South Korea, Lebanon, Bangladesh, Taiwan (Chinese), Singapore, Turkey, the Philippines, Kazakhstan and China increased by X, X, X, X, X, X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Korea ($X), Vietnam ($X) and China ($X) were the countries with the highest levels of imports in 2023, together accounting for X% of total imports. Taiwan (Chinese), Indonesia, Turkey, Singapore, Lebanon, Bangladesh, Malaysia, Kazakhstan, the Philippines and Kuwait lagged somewhat behind, together comprising a further X%.

Lebanon, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main importing countries 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 amounted to $X per ton, dropping by X% against the previous year. Overall, the import price, however, continues to indicate prominent growth. The growth pace was the most rapid in 2022 when the import price increased by X% against the previous year. As a result, import price reached the peak level of $X per ton, and then contracted markedly in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per ton), while Lebanon ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform