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Philippines - Hot-Rolled Steel Bars and Rods - Market Analysis, Forecast, Size, Trends and Insights
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View PricingPhilippines: Market for Hot-Rolled Steel Bars and Rods 2024
Market Size for Hot-Rolled Steel Bars and Rods in the Philippines
The Philippine market for hot-rolled steel bars and rods dropped significantly to $X in 2023, waning by X% against the previous year. Overall, consumption, however, continues to indicate a prominent increase. As a result, consumption attained the peak level of $X. From 2017 to 2023, the growth of the market remained at a somewhat lower figure.
Production of Hot-Rolled Steel Bars and Rods in the Philippines
In value terms, hot-rolled steel bar and rod production reduced sharply to $X in 2023 estimated in export price. Overall, production, however, enjoyed a resilient increase. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2023, production growth failed to regain momentum.
Exports of Hot-Rolled Steel Bars and Rods
Exports from the Philippines
In 2023, the amount of hot-rolled steel bars and rods exported from the Philippines soared to X tons, with an increase of X% against the previous year's figure. In general, exports enjoyed significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
In value terms, hot-rolled steel bar and rod exports skyrocketed to $X in 2023. Overall, exports saw a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
Exports by Country
Canada (X tons) was the main destination for hot-rolled steel bar and rod exports from the Philippines, accounting for a approx. X% share of total exports.
From 2012 to 2023, the average annual growth rate of volume to Canada stood at X%.
From 2012 to 2023, the average annual rate of growth in terms of value to Canada stood at X%.
Export Prices by Country
The average export price for hot-rolled steel bars and rods stood at $X per ton in 2023, which is down by X% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the average export price increased by X%. As a result, the export price reached the peak level of $X per ton. From 2017 to 2023, the average export prices remained at a somewhat lower figure.
As there is only one major export destination, the average price level is determined by prices for Canada.
From 2012 to 2023, the rate of growth in terms of prices for Canada amounted to X% per year.
Imports of Hot-Rolled Steel Bars and Rods
Imports into the Philippines
In 2023, approx. X tons of hot-rolled steel bars and rods were imported into the Philippines; dropping by X% compared with 2022 figures. Overall, imports, however, recorded resilient growth. The most prominent rate of growth was recorded in 2015 with an increase of X%. Imports peaked at X tons in 2016; however, from 2017 to 2023, imports remained at a lower figure.
In value terms, hot-rolled steel bar and rod imports reduced dramatically to $X in 2023. In general, imports, however, enjoyed resilient growth. The most prominent rate of growth was recorded in 2016 with an increase of X%. As a result, imports attained the peak of $X. From 2017 to 2023, the growth of imports remained at a somewhat lower figure.
Imports by Country
In 2023, China (X tons) constituted the largest hot-rolled steel bar and rod supplier to the Philippines, with a X% share of total imports. Moreover, hot-rolled steel bar and rod imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), more than tenfold. The third position in this ranking was held by Indonesia (X tons), with a X% share.
From 2012 to 2023, the average annual growth rate of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and Indonesia (X% per year).
In value terms, China ($X) constituted the largest supplier of hot-rolled steel bars and rods to the Philippines, comprising X% of total imports. The second position in the ranking was taken by Japan ($X), with an X% share of total imports. It was followed by Indonesia, with a X% share.
From 2012 to 2023, the average annual rate of growth in terms of value from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and Indonesia (X% per year).
Import Prices by Country
The average import price for hot-rolled steel bars and rods stood at $X per ton in 2023, which is down by X% against the previous year. Over the period under review, the import price saw a noticeable descent. The growth pace was the most rapid in 2021 an increase of X% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2023, import prices failed to regain momentum.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for China ($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 prices for the other major suppliers experienced a decline.
Source: IndexBox Platform
This report provides an in-depth analysis of the market for hot-rolled steel bar and rod in the Philippines. 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:
- Philippines
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in the Philippines
- 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
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