Market for Hot-Rolled High Speed Steel Bar in Asia
Market Overview
Please note: Annual data for 2022 are preliminary and subject to revision
In 
, the Asian market for hot-rolled bars of high speed steel increased by % to $, rising for the third year in a row after four years of decline. The total consumption indicated a buoyant expansion from 2007 to : its value increased at an average annual rate of +% over the last fourteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption increased by +% against 2018 indices. As a result, consumption reached the peak level of $. From 2015 to , the growth of the market remained at a somewhat lower figure.
In value terms, hot-rolled high speed steel bar production dropped to $ in estimated in export price. The total production indicated a temperate increase from 2007 to : its value increased at an average annual rate of +% over the last fourteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, production increased by +% against 2017 indices. The most prominent rate of growth was recorded in 2014 when the production volume increased by % against the previous year. As a result, production attained the peak level of $. From 2015 to , production growth remained at a lower figure.
Singapore ( tons) constituted the country with the largest volume of hot-rolled high speed steel bar production, comprising approx. % of total volume. Moreover, hot-rolled high speed steel bar production in Singapore exceeded the figures recorded by the second-largest producer, China ( tons), fivefold. Thailand ( tons) ranked third in terms of total production with a % share.
In Singapore, hot-rolled high speed steel bar production increased at an average annual rate of +% over the period from 2007-. The remaining producing countries recorded the following average annual rates of production growth: China (+% per year) and Thailand (+% per year).
, the Asian market for hot-rolled bars of high speed steel increased by % to $, rising for the third year in a row after four years of decline. The total consumption indicated a buoyant expansion from 2007 to : its value increased at an average annual rate of +% over the last fourteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption increased by +% against 2018 indices. As a result, consumption reached the peak level of $. From 2015 to , the growth of the market remained at a somewhat lower figure.In value terms, hot-rolled high speed steel bar production dropped to $
in estimated in export price. The total production indicated a temperate increase from 2007 to : its value increased at an average annual rate of +% over the last fourteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, production increased by +% against 2017 indices. The most prominent rate of growth was recorded in 2014 when the production volume increased by % against the previous year. As a result, production attained the peak level of $. From 2015 to , production growth remained at a lower figure.Singapore (
tons) constituted the country with the largest volume of hot-rolled high speed steel bar production, comprising approx. % of total volume. Moreover, hot-rolled high speed steel bar production in Singapore exceeded the figures recorded by the second-largest producer, China ( tons), fivefold. Thailand ( tons) ranked third in terms of total production with a % share.In Singapore, hot-rolled high speed steel bar production increased at an average annual rate of +
% over the period from 2007-. The remaining producing countries recorded the following average annual rates of production growth: China (+% per year) and Thailand (+% per year).Consumption
Please note: Annual data for 2022 are preliminary and subject to revision
In , the amount of hot-rolled bars of high speed steel consumed in Asia was estimated at tons, picking up by % against the previous year. The total consumption indicated a remarkable increase from 2007 to : its volume increased at an average annual rate of +% over the last fifteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption increased by +% against 2019 indices. Over the period under review, consumption hit record highs in and is expected to retain growth in the immediate term.
The value of the market for hot-rolled bars of high speed steel in Asia expanded modestly to $ in , with an increase of % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The total consumption indicated a resilient increase from 2007 to : its value increased at an average annual rate of +% over the last fifteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption increased by +% against 2018 indices. As a result, consumption reached the peak level of $. From 2015 to , the growth of the market remained at a lower figure.
, the amount of hot-rolled bars of high speed steel consumed in Asia was estimated at tons, picking up by % against the previous year. The total consumption indicated a remarkable increase from 2007 to : its volume increased at an average annual rate of +% over the last fifteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption increased by +% against 2019 indices. Over the period under review, consumption hit record highs in and is expected to retain growth in the immediate term.The value of the market for hot-rolled bars of high speed steel in Asia expanded modestly to $
in , with an increase of % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The total consumption indicated a resilient increase from 2007 to : its value increased at an average annual rate of +% over the last fifteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption increased by +% against 2018 indices. As a result, consumption reached the peak level of $. From 2015 to , the growth of the market remained at a lower figure.Consumption by Country
Please note: Annual data for 2022 are preliminary and subject to revision
Singapore ( tons) constituted the country with the largest volume of hot-rolled high speed steel bar consumption, accounting for % of total volume. Moreover, hot-rolled high speed steel bar consumption in Singapore exceeded the figures recorded by the second-largest consumer, China ( tons), eightfold. Thailand ( tons) ranked third in terms of total consumption with a % share.
From 2007 to, the average annual rate of growth in terms of volume in Singapore stood at +%. The remaining consuming countries recorded the following average annual rates of consumption growth: China (-% per year) and Thailand (-% per year).
In value terms, Singapore ($) led the market, alone. The second position in the ranking was held by China ($). It was followed by Japan.
From 2007 to, the average annual growth rate of value in Singapore stood at +%. In the other countries, the average annual rates were as follows: China (-% per year) and Japan (+% per year).
From 2007 to, the average annual growth rate of the hot-rolled high speed steel bar per capita consumption in No country was relatively modest.
tons) constituted the country with the largest volume of hot-rolled high speed steel bar consumption, accounting for % of total volume. Moreover, hot-rolled high speed steel bar consumption in Singapore exceeded the figures recorded by the second-largest consumer, China ( tons), eightfold. Thailand ( tons) ranked third in terms of total consumption with a % share.From 2007 to
, the average annual rate of growth in terms of volume in Singapore stood at +%. The remaining consuming countries recorded the following average annual rates of consumption growth: China (-% per year) and Thailand (-% per year).In value terms, Singapore ($
) led the market, alone. The second position in the ranking was held by China ($). It was followed by Japan.From 2007 to
, the average annual growth rate of value in Singapore stood at +%. In the other countries, the average annual rates were as follows: China (-% per year) and Japan (+% per year).From 2007 to
, the average annual growth rate of the hot-rolled high speed steel bar per capita consumption in No country was relatively modest.Market Forecast
Please note: Annual data for 2022 are preliminary and subject to revision
Driven by increasing demand for hot-rolled high speed steel bar in Asia, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to tons by the end of .
In value terms, the market is forecast to increase with an anticipated CAGR of +% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .
% for the period from to , which is projected to bring the market volume to tons by the end of .In value terms, the market is forecast to increase with an anticipated CAGR of +
% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .
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