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Asia - Iron and Steel - Market Analysis, Forecast, Size, Trends and Insights
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View PricingAsia: Iron And Steel Market 2024
Iron And Steel Market Size in Asia
The Asian iron and steel market fell to $X in 2023, dropping by X% against the previous year. Overall, consumption, however, showed a moderate expansion. The level of consumption peaked at $X in 2019; however, from 2020 to 2023, consumption failed to regain momentum.
Iron And Steel Production in Asia
In value terms, iron and steel production shrank to $X in 2023 estimated in export price. The total production indicated moderate 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 pace of growth was the most pronounced in 2018 when the production volume increased by X%. The level of production peaked at $X in 2019; however, from 2020 to 2023, production remained at a lower figure.
Iron And Steel Exports
Exports in Asia
In 2023, approx. X tons of iron and steel were exported in Asia; declining by X% on the previous year. In general, exports continue to indicate a perceptible curtailment. The growth pace was the most rapid in 2020 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2013; however, from 2014 to 2023, the exports failed to regain momentum.
In value terms, iron and steel exports shrank significantly to $X in 2023. Overall, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when exports increased by X%. Over the period under review, the exports hit record highs at $X in 2022, and then reduced sharply in the following year.
Exports by Country
India was the main exporter of iron and steel in Asia, with the volume of exports accounting for X tons, which was near X% of total exports in 2023. Democratic People's Republic of Korea (X tons) took the second position in the ranking, followed by Iran (X tons), Japan (X tons) and South Korea (X tons). All these countries together took approx. X% share of total exports. The following exporters - Malaysia (X tons), Vietnam (X tons), Kazakhstan (X tons), Indonesia (X tons), Saudi Arabia (X tons), Kuwait (X tons) and China (X tons) - together made up X% of total exports.
From 2012 to 2023, average annual rates of growth with regard to iron and steel exports from India stood at X%. At the same time, Vietnam (X%), Malaysia (X%), Saudi Arabia (X%), Kazakhstan (X%) and South Korea (X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2023. By contrast, Indonesia (X%), Democratic People's Republic of Korea (X%), Kuwait (X%), Iran (X%), Japan (X%) and China (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of India, South Korea, Malaysia, Vietnam, Kazakhstan, Saudi Arabia and Democratic People's Republic of Korea increased by X, X, X, X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, the largest iron and steel supplying countries in Asia were India ($X), Kazakhstan ($X) and Iran ($X), together comprising X% of total exports. Indonesia, Japan, Vietnam, Democratic People's Republic of Korea, Malaysia, South Korea, Saudi Arabia, China and Kuwait lagged somewhat behind, together comprising a further X%.
Among the main exporting countries, Vietnam, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.
Export Prices by Country
In 2023, the export price in Asia amounted to $X per ton, stabilizing at the previous year. Export price indicated a notable increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, iron and steel export price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of X%. The level of export peaked in 2023 and is expected to retain growth in the near future.
Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Kazakhstan ($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 Kazakhstan (X%), while the other leaders experienced more modest paces of growth.
Iron And Steel Imports
Imports in Asia
In 2023, overseas purchases of iron and steel decreased by X% to X tons, falling for the third year in a row after three years of growth. In general, imports saw a pronounced slump. The most prominent rate of growth was recorded in 2020 when imports increased by X%. As a result, imports attained the peak of X tons. From 2021 to 2023, the growth of imports failed to regain momentum.
In value terms, iron and steel imports contracted remarkably to $X in 2023. Over the period under review, imports showed a noticeable decline. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2021 to 2023, the growth of imports remained at a somewhat lower figure.
Imports by Country
Turkey represented the key importing country with an import of about X tons, which reached X% of total imports. It was distantly followed by Oman (X tons), Taiwan (Chinese) (X tons), China (X tons), India (X tons), the United Arab Emirates (X tons) and South Korea (X tons), together generating a X% share of total imports.
Turkey experienced a relatively flat trend pattern with regard to volume of imports of iron and steel. At the same time, Oman (X%), India (X%) and the United Arab Emirates (X%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing importer imported in Asia, with a CAGR of X% from 2012-2023. By contrast, China (X%), Taiwan (Chinese) (X%) and South Korea (X%) illustrated a downward trend over the same period. While the share of Turkey (X p.p.), Oman (X p.p.), India (X p.p.) and the United Arab Emirates (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Taiwan (Chinese) (X p.p.) and South Korea (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, Turkey ($X) constitutes the largest market for imported iron and steel in Asia, comprising X% of total imports. The second position in the ranking was held by China ($X), with a X% share of total imports. It was followed by Taiwan (Chinese), with an X% share.
In Turkey, iron and steel imports remained relatively stable over the period from 2012-2023. In the other countries, the average annual rates were as follows: China (X% per year) and Taiwan (Chinese) (X% per year).
Import Prices by Country
The import price in Asia stood at $X per ton in 2023, with a decrease of X% against the previous year. Overall, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of X%. The level of import peaked at $X per ton in 2022, and then dropped in the following year.
There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was China ($X per ton), while India ($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. 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
- Armenia
- Azerbaijan
- Bahrain
- Bangladesh
- Bhutan
- Brunei Darussalam
- Cambodia
- China
- Cyprus
- Democratic People's Republic of Korea
- Georgia
- Hong Kong SAR
- India
- Indonesia
- Iran
- Iraq
- Israel
- Japan
- Jordan
- Kazakhstan
- Kuwait
- Kyrgyzstan
- Lao People's Democratic Republic
- Lebanon
- Macao SAR
- Malaysia
- Maldives
- Mongolia
- Myanmar
- Nepal
- Oman
- Pakistan
- Palestine
- Philippines
- Qatar
- Saudi Arabia
- Singapore
- South Korea
- Sri Lanka
- Syrian Arab Republic
- Taiwan (Chinese)
- Tajikistan
- Thailand
- Timor-Leste
- Turkey
- Turkmenistan
- United Arab Emirates
- Uzbekistan
- Vietnam
- Yemen
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Production in Asia, split by region and country
- Trade (exports and imports) in Asia
- 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
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
-
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
-
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
- Armenia
- Azerbaijan
- Bahrain
- Bangladesh
- Bhutan
- Brunei Darussalam
- Cambodia
- China
- Hong Kong SAR
- Macao SAR
- Cyprus
- Georgia
- India
- Indonesia
- Iran
- Iraq
- Israel
- Japan
- Jordan
- Kazakhstan
- Kuwait
- Kyrgyzstan
- Lebanon
- Malaysia
- Maldives
- Mongolia
- Myanmar
- Nepal
- Oman
- Pakistan
- Palestine
- Philippines
- Qatar
- Saudi Arabia
- Singapore
- South Korea
- Sri Lanka
- Syrian Arab Republic
- Taiwan (Chinese)
- Tajikistan
- Thailand
- Timor-Leste
- Turkey
- Turkmenistan
- United Arab Emirates
- Uzbekistan
- Vietnam
- Yemen
- Lao People's Democratic Republic
- Democratic People's Republic of Korea
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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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