Singapore - Hot-Rolled Steel Bars and Rods - Market Analysis, Forecast, Size, Trends and Insights
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View PricingSingapore: Market for Hot-Rolled Steel Bars and Rods 2024
Market Size for Hot-Rolled Steel Bars and Rods in Singapore
In 2022, the Singaporean market for hot-rolled steel bars and rods increased by X% to $X, rising for the second year in a row after three years of decline. Overall, consumption, however, showed a slight slump. Hot-rolled steel bar and rod consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.
Production of Hot-Rolled Steel Bars and Rods in Singapore
In value terms, hot-rolled steel bar and rod production dropped modestly to $X in 2022 estimated in export price. Overall, production recorded a abrupt downturn. The most prominent rate of growth was recorded in 2017 when the production volume increased by X% against the previous year. Hot-rolled steel bar and rod production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.
Exports of Hot-Rolled Steel Bars and Rods
Exports from Singapore
For the fifth year in a row, Singapore recorded decline in overseas shipments of hot-rolled steel bars and rods, which decreased by X% to X tons in 2023. Overall, exports, however, enjoyed notable growth. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. The exports peaked at X tons in 2016; however, from 2017 to 2023, the exports stood at a somewhat lower figure.
In value terms, hot-rolled steel bar and rod exports declined rapidly to $X in 2023. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when exports increased by X%. The exports peaked at $X in 2022, and then shrank notably in the following year.
Exports by Country
Malaysia (X tons), Australia (X tons) and Indonesia (X tons) were the main destinations of hot-rolled steel bar and rod exports from Singapore, together accounting for X% of total exports. New Zealand, India, Brunei Darussalam, China and Canada lagged somewhat behind, together comprising a further X%.
From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Canada (with a CAGR of X%), while the other leaders experienced more modest paces of growth.
In value terms, Malaysia ($X), Australia ($X) and Indonesia ($X) were the largest markets for hot-rolled steel bar and rod exported from Singapore worldwide, together accounting for X% of total exports. New Zealand, Brunei Darussalam, India, China and Canada lagged somewhat behind, together accounting for a further X%.
Canada, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.
Export Prices by Country
The average export price for hot-rolled steel bars and rods stood at $X per ton in 2023, declining by X% against the previous year. Overall, the export price showed a perceptible decline. The pace of growth appeared the most rapid in 2022 an increase of X%. As a result, the export price attained the peak level of $X per ton, and then reduced markedly in the following year.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while the average price for exports to Canada ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia (X%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Hot-Rolled Steel Bars and Rods
Imports into Singapore
In 2023, overseas purchases of hot-rolled steel bars and rods increased by X% to X tons, rising for the third year in a row after five years of decline. In general, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at X tons in 2015; however, from 2016 to 2023, imports stood at a somewhat lower figure.
In value terms, hot-rolled steel bar and rod imports contracted notably to $X in 2023. Overall, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Imports peaked at $X in 2022, and then reduced markedly in the following year.
Imports by Country
Malaysia (X tons), Oman (X tons) and Turkey (X tons) were the main suppliers of hot-rolled steel bar and rod imports to Singapore, with a combined X% share of total imports.
From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Oman (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.
In value terms, Malaysia ($X) constituted the largest supplier of hot-rolled steel bars and rods to Singapore, comprising X% of total imports. The second position in the ranking was held by Oman ($X), with a X% share of total imports. It was followed by Turkey, with an X% share.
From 2012 to 2023, the average annual growth rate of value from Malaysia totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Oman (X% per year) and Turkey (X% per year).
Import Prices by Country
In 2023, the average import price for hot-rolled steel bars and rods amounted to $X per ton, with a decrease of X% against the previous year. In general, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2022 when the average import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton, and then fell dramatically in the following year.
There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Ukraine ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Qatar (X%), while the prices for the other major suppliers experienced more modest paces of growth.
Source: IndexBox Platform
This report provides an in-depth analysis of the market for hot-rolled steel bar and rod in Singapore. 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:
- Singapore
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Singapore
- 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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