World - Hot-Rolled Bars Of Silico-Manganese Steel - Market Analysis, Forecast, Size, Trends And Insights
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The article discusses the projected rise in demand for hot-rolled silico-manganese steel bar on a global scale, with expectations of growth in market volume and value over the next eight years. It covers trends in consumption, production, imports, exports, and pricing, highlighting key countries and their roles in the market. Insights into market performance, including consumption peaks and declines, production fluctuations, and price variations, provide a comprehensive overview of the industry.
Market Forecast
Driven by rising demand for hot-rolled silico-manganese steel bar worldwide, the market is expected to start an upward consumption trend over the next eight-year period. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +2.0% for the period from 2022 to 2030, which is projected to bring the market volume to 1.1M tons by the end of 2030.
In value terms, the market is forecast to increase with an anticipated CAGR of +3.3% for the period from 2022 to 2030, which is projected to bring the market value to $1.4B (in nominal prices) by the end of 2030.
Consumption
World Consumption of Hot-Rolled Bars Of Silico-Manganese Steel
In 2022, after four years of decline, there was growth in consumption of hot-rolled bars of silico-manganese steel, when its volume increased by 4.7% to 967K tons. Over the period under review, consumption, however, saw a mild slump. Global consumption peaked at 1.3M tons in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.
The global hot-rolled silico-manganese steel bar market value totaled $1.1B in 2022, surging by 4% 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). Overall, consumption, however, continues to indicate a perceptible descent. The pace of growth appeared the most rapid in 2018 when the market value increased by 6.5% against the previous year. Global consumption peaked at $1.5B in 2014; however, from 2015 to 2022, consumption failed to regain momentum.
Consumption By Country
The countries with the highest volumes of consumption in 2022 were China (169K tons), the United States (124K tons) and India (70K tons), together comprising 38% of global consumption. Russia, the Philippines, Kazakhstan, South Korea, Spain, Japan, Brazil, Uzbekistan, Mexico and Tajikistan lagged somewhat behind, together comprising a further 34%.
From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by the Philippines (with a CAGR of +49.9%), while consumption for the other global leaders experienced more modest paces of growth.
In value terms, China ($188M), the United States ($170M) and Brazil ($75M) were the countries with the highest levels of market value in 2022, with a combined 39% share of the global market. India, South Korea, Spain, Japan, Russia, Kazakhstan, the Philippines, Mexico, Tajikistan and Uzbekistan lagged somewhat behind, together comprising a further 30%.
The Philippines, with a CAGR of +45.7%, saw the highest growth rate of market size in terms of the main consuming countries 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-rolled silico-manganese steel bar per capita consumption in 2022 were Kazakhstan (2,199 kg per 1000 persons), Tajikistan (1,820 kg per 1000 persons) and South Korea (813 kg per 1000 persons).
From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by the Philippines (with a CAGR of +47.7%), while consumption for the other global leaders experienced more modest paces of growth.
Production
World Production of Hot-Rolled Bars Of Silico-Manganese Steel
In 2022, production of hot-rolled bars of silico-manganese steel increased by 0.9% to 978K tons, rising for the second year in a row after two years of decline. In general, production, however, saw a mild decline. The most prominent rate of growth was recorded in 2013 with an increase of 8.7%. Over the period under review, global production hit record highs at 1.3M tons in 2014; however, from 2015 to 2022, production remained at a lower figure.
In value terms, hot-rolled silico-manganese steel bar production declined to $1.1B in 2022 estimated in export price. Overall, production, however, recorded a perceptible slump. The most prominent rate of growth was recorded in 2018 when the production volume increased by 11% against the previous year. Global production peaked at $1.5B in 2014; however, from 2015 to 2022, production remained at a lower figure.
Production By Country
The countries with the highest volumes of production in 2022 were China (172K tons), Russia (143K tons) and the United States (125K tons), together comprising 45% of global production. South Korea, India, Japan, Italy, Germany, Brazil, Sweden, Mexico and Egypt lagged somewhat behind, together accounting for a further 38%.
From 2012 to 2022, the most notable rate of growth in terms of production, amongst the key producing countries, was attained by Japan (with a CAGR of +4.2%), while production for the other global leaders experienced more modest paces of growth.
Imports
World Imports of Hot-Rolled Bars Of Silico-Manganese Steel
In 2022, supplies from abroad of hot-rolled bars of silico-manganese steel increased by 0.6% to 317K tons, rising for the second consecutive year after two years of decline. In general, imports, however, showed a pronounced decrease. The pace of growth was the most pronounced in 2015 when imports increased by 26%. As a result, imports attained the peak of 504K tons. From 2016 to 2022, the growth of global imports remained at a lower figure.
In value terms, hot-rolled silico-manganese steel bar imports surged to $324M in 2022. Overall, imports, however, continue to indicate a slight reduction. The most prominent rate of growth was recorded in 2021 when imports increased by 41% against the previous year. Global imports peaked at $368M in 2012; however, from 2013 to 2022, imports failed to regain momentum.
Imports By Country
In 2022, the Philippines (49K tons), Kazakhstan (44K tons), Spain (35K tons), France (28K tons), Uzbekistan (26K tons) and Tajikistan (19K tons) represented the major importer of hot-rolled bars of silico-manganese steel in the world, mixing up 63% of total import. The UK (11K tons), Poland (11K tons), China (11K tons), Germany (10K tons), Indonesia (10K tons), Thailand (9.2K tons) and Kyrgyzstan (5.5K tons) took a minor share of total imports.
From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by the Philippines (with a CAGR of +49.9%), while imports for the other global leaders experienced more modest paces of growth.
In value terms, the largest hot-rolled silico-manganese steel bar importing markets worldwide were Spain ($45M), France ($35M) and Kazakhstan ($34M), together accounting for 35% of global imports. The Philippines, Poland, Tajikistan, the UK, Germany, Uzbekistan, Indonesia, China, Thailand and Kyrgyzstan lagged somewhat behind, together comprising a further 44%.
Among the main importing countries, the Philippines, with a CAGR of +45.7%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.
Import Prices By Country
In 2022, the average hot-rolled silico-manganese steel bar import price amounted to $1,021 per ton, growing by 15% against the previous year. Overall, import price indicated a slight expansion from 2012 to 2022: its price increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, hot-rolled silico-manganese steel bar import price increased by +51.8% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average import price increased by 33%. Global import price peaked in 2022 and is likely to see steady growth in the near future.
Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Poland ($1,542 per ton), while the Philippines ($502 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uzbekistan (+3.1%), while the other global leaders experienced more modest paces of growth.
Exports
World Exports of Hot-Rolled Bars Of Silico-Manganese Steel
Global hot-rolled silico-manganese steel bar exports dropped to 329K tons in 2022, falling by -9% compared with the year before. Overall, exports saw a slight decrease. The pace of growth appeared the most rapid in 2017 with an increase of 27% against the previous year. The global exports peaked at 485K tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.
In value terms, hot-rolled silico-manganese steel bar exports expanded markedly to $371M in 2022. Over the period under review, total exports indicated a modest expansion from 2012 to 2022: its value increased at an average annual rate of +1.0% 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 +71.8% against 2020 indices. The pace of growth was the most pronounced in 2021 when exports increased by 63%. The global exports peaked in 2022 and are likely to see gradual growth in the near future.
Exports By Country
In 2022, Russia (89K tons), distantly followed by South Korea (45K tons), Germany (42K tons), Italy (34K tons), Japan (27K tons), France (26K tons) and Sweden (15K tons) were the main exporters of hot-rolled bars of silico-manganese steel, together constituting 84% of total exports.
From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Japan (with a CAGR of +29.4%), while the other global leaders experienced more modest paces of growth.
In value terms, Russia ($68M), South Korea ($61M) and Germany ($53M) appeared to be the countries with the highest levels of exports in 2022, with a combined 49% share of global exports. Italy, France, Japan and Sweden lagged somewhat behind, together accounting for a further 36%.
In terms of the main exporting countries, Japan, with a CAGR of +23.0%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.
Export Prices By Country
The average hot-rolled silico-manganese steel bar export price stood at $1,127 per ton in 2022, rising by 16% 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 +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, hot-rolled silico-manganese steel bar export price increased by +90.1% against 2015 indices. The pace of growth appeared the most rapid in 2021 when the average export price increased by 34% against the previous year. The global export price peaked in 2022 and is likely to continue growth in the near future.
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 France ($1,461 per ton), while Russia ($759 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+2.6%), while the other global leaders experienced more modest paces of growth.
This report provides an in-depth analysis of the global market for hot-rolled silico-manganese steel bar. 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 24106620 - Hot-rolled bars of silico-manganese steel
Country coverage:
Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:
- USA
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
+ the largest producing countries
Data coverage:
- Global market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Global production, split by region and country
- Global trade (exports and imports)
- 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
- 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
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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. GLOBAL PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
- PRODUCTION BY COUNTRY
8. GLOBAL IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. GLOBAL 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- United States
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
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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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