Hot-Dipped Metal-Coated Sheet Market

The global market for hot-dipped metal-coated sheet is projected to see growth in various key indicators from 2022 to 2030. Consumption, production, imports, and exports are all expected to increase, with forecasted values provided. Key countries leading in consumption, production, and exports are identified, along with notable trends in import prices and volumes. Overall, the market is set to expand in the coming years, driven by increasing demand worldwide.

Market Forecast

Driven by increasing demand for hot-dipped metal-coated sheet worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +3.9% for the period from 2022 to 2030, which is projected to bring the market volume to 267M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +6.0% for the period from 2022 to 2030, which is projected to bring the market value to $309.5B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Hot-Dipped Metal-Coated Sheet

In 2022, global consumption of hot-dipped metal-coated sheet shrank slightly to 196M tons, standing approx. at 2021. The total consumption volume increased at an average annual rate of +3.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Global consumption peaked at 209M tons in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

The global hot-dipped metal-coated sheet market size was estimated at $194.7B in 2022, rising by 2.7% 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 market value increased at an average annual rate of +3.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the global market attained the peak level at $206.4B in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (43M tons), the United States (26M tons) and India (17M tons), with a combined 44% share of global consumption. Japan, Russia, Brazil, the UK, Mexico, Germany, Canada, Iran and South Korea lagged somewhat behind, together comprising a further 24%.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by the UK (with a CAGR of +8.1%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($34.4B), China ($29.5B) and India ($13.4B) were the countries with the highest levels of market value in 2022, together accounting for 40% of the global market.

Among the main consuming countries, the United States, with a CAGR of +9.3%, recorded the highest growth rate of market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of hot-dipped metal-coated sheet per capita consumption in 2022 were Canada (100 kg per person), the UK (82 kg per person) and the United States (78 kg per person).

From 2012 to 2022, the biggest increases were recorded for the UK (with a CAGR of +7.6%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Hot-Dipped Metal-Coated Sheet

In 2022, approx. 196M tons of hot-dipped metal-coated sheet were produced worldwide; declining by -2.5% compared with the year before. The total output volume increased at an average annual rate of +3.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2017 when the production volume increased by 14% against the previous year. Global production peaked at 212M tons in 2018; however, from 2019 to 2022, production failed to regain momentum.

In value terms, hot-dipped metal-coated sheet production contracted to $191.8B in 2022 estimated in export price. Overall, the total production indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +6.0% against 2020 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by 26% against the previous year. Over the period under review, global production attained the maximum level at $238.2B in 2019; however, from 2020 to 2022, production failed to regain momentum.

Production By Country

China (51M tons) constituted the country with the largest volume of hot-dipped metal-coated sheet production, comprising approx. 26% of total volume. Moreover, hot-dipped metal-coated sheet production in China exceeded the figures recorded by the second-largest producer, the United States (24M tons), twofold. The third position in this ranking was taken by India (17M tons), with an 8.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in China stood at +5.8%. In the other countries, the average annual rates were as follows: the United States (+6.8% per year) and India (+4.1% per year).

Imports

World Imports of Hot-Dipped Metal-Coated Sheet

Global hot-dipped metal-coated sheet imports contracted to 41M tons in 2022, dropping by -8.6% on the year before. The total import volume increased at an average annual rate of +2.3% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when imports increased by 21%. As a result, imports attained the peak of 45M tons, and then dropped in the following year.

In value terms, hot-dipped metal-coated sheet imports expanded slightly to $49.5B in 2022. In general, total imports indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +77.2% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 70%. Global imports peaked in 2022 and are expected to retain growth in years to come.

Imports By Country

The countries with the highest levels of hot-dipped metal-coated sheet imports in 2022 were Germany (2.9M tons), the United States (2.8M tons), Belgium (2.1M tons), Spain (1.8M tons), Turkey (1.7M tons), Thailand (1.6M tons), Italy (1.5M tons), Poland (1.5M tons), France (1.3M tons), Sweden (1M tons), Canada (1M tons) and China (1M tons), together resulting at 50% of total import. Mexico (980K tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +11.2%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($4.1B), Germany ($3.8B) and Belgium ($2.6B) constituted the countries with the highest levels of imports in 2022, with a combined 21% share of global imports. Spain, Turkey, Poland, Italy, Thailand, Mexico, Canada, France, Sweden and China lagged somewhat behind, together accounting for a further 34%.

Turkey, with a CAGR of +14.1%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average hot-dipped metal-coated sheet import price stood at $1,215 per ton in 2022, increasing by 14% against the previous year. In general, import price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, hot-dipped metal-coated sheet import price increased by +60.8% against 2020 indices. The pace of growth appeared the most rapid in 2021 when the average import price increased by 41%. Over the period under review, average import prices reached the peak figure in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Mexico ($1,559 per ton), while France ($1,022 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+4.1%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Hot-Dipped Metal-Coated Sheet

In 2022, the amount of hot-dipped metal-coated sheet exported worldwide dropped markedly to 41M tons, waning by -17% on the year before. The total export volume increased at an average annual rate of +2.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when exports increased by 30% against the previous year. As a result, the exports reached the peak of 49M tons, and then declined markedly in the following year.

In value terms, hot-dipped metal-coated sheet exports declined to $48.8B in 2022. Over the period under review, total exports indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +72.5% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 86%. As a result, the exports attained the peak of $52.7B, and then dropped in the following year.

Exports By Country

In 2022, China (9.4M tons), distantly followed by South Korea (4M tons), Belgium (3.2M tons), Germany (2.6M tons) and Turkey (2.2M tons) represented the key exporters of hot-dipped metal-coated sheet, together comprising 53% of total exports. The following exporters - Vietnam (1.6M tons), Austria (1.6M tons), Japan (1.5M tons), France (1.5M tons), the Netherlands (1.5M tons), Italy (1.1M tons), Taiwan (Chinese) (1.1M tons) and the United States (1M tons) - together made up 27% of total exports.

From 2012 to 2022, average annual rates of growth with regard to hot-dipped metal-coated sheet exports from China stood at +5.7%. At the same time, Turkey (+19.5%), Vietnam (+18.3%), Belgium (+2.6%), France (+2.1%), Austria (+2.0%), South Korea (+1.7%), Germany (+1.7%) and the Netherlands (+1.0%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in the world, with a CAGR of +19.5% from 2012-2022. By contrast, the United States (-2.7%), Taiwan (Chinese) (-3.0%), Italy (-5.8%) and Japan (-7.8%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China, Turkey and Vietnam increased by +7, +4.4 and +3.1 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($10B) remains the largest hot-dipped metal-coated sheet supplier worldwide, comprising 20% of global exports. The second position in the ranking was taken by South Korea ($4.4B), with a 9.1% share of global exports. It was followed by Belgium, with an 8.3% share.

In China, hot-dipped metal-coated sheet exports increased at an average annual rate of +8.9% over the period from 2012-2022. In the other countries, the average annual rates were as follows: South Korea (+3.6% per year) and Belgium (+5.6% per year).

Export Prices By Country

In 2022, the average hot-dipped metal-coated sheet export price amounted to $1,202 per ton, with an increase of 12% against the previous year. In general, export price indicated a perceptible expansion from 2012 to 2022: its price increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, hot-dipped metal-coated sheet export price increased by +59.9% against 2020 indices. The pace of growth was the most pronounced in 2021 when the average export price increased by 43%. The global export price peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United States ($1,879 per ton), while China ($1,063 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+6.1%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform