Stainless Steel Angle Market

The article discusses the expected growth in global demand for stainless steel angles, shapes, and sections over the next eight years. Market performance is forecasted to steadily increase in both volume and value. Key trends in consumption, production, imports, and exports are examined, with detailed insights into major consuming and producing countries. China emerges as a significant player in both consumption and production, while the United States leads in imports. The article highlights fluctuations in prices, growth rates, and market share among the main global players.

Market Forecast

Driven by increasing demand for angles, shapes and sections of stainless steel or other alloy steel worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +0.8% for the period from 2022 to 2030, which is projected to bring the market volume to 7M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.0% for the period from 2022 to 2030, which is projected to bring the market value to $12.8B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Angles, Shapes And Sections Of Stainless Steel Or Other Alloy Steel

In 2022, global stainless steel angle consumption stood at 6.5M tons, picking up by 12% on the year before. The total consumption volume increased at an average annual rate of +2.3% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. As a result, consumption reached the peak volume and is likely to continue growth in the immediate term.

The global stainless steel angle market revenue rose remarkably to $9.3B in 2022, increasing by 7.8% 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 +1.4% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Consumption By Country

China (2.4M tons) constituted the country with the largest volume of stainless steel angle consumption, comprising approx. 37% of total volume. Moreover, stainless steel angle consumption in China exceeded the figures recorded by the second-largest consumer, Russia (753K tons), threefold. The United States (607K tons) ranked third in terms of total consumption with a 9.3% share.

In China, stainless steel angle consumption expanded at an average annual rate of +11.7% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Russia (+0.4% per year) and the United States (+7.6% per year).

In value terms, China ($1.6B), the United States ($1.4B) and India ($843M) constituted the countries with the highest levels of market value in 2022, together accounting for 42% of the global market.

China, with a CAGR of +11.2%, recorded the highest growth rate of market size among 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 stainless steel angle per capita consumption in 2022 were Russia (5.2 kg per person), South Korea (3.4 kg per person) and Canada (2.5 kg per person).

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +11.6%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Angles, Shapes And Sections Of Stainless Steel Or Other Alloy Steel

In 2022, approx. 6.2M tons of angles, shapes and sections of stainless steel or other alloy steel were produced worldwide; waning by -1.8% compared with the previous year's figure. In general, production continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of 11%. Over the period under review, global production attained the maximum volume at 7.9M tons in 2015; however, from 2016 to 2022, production remained at a lower figure.

In value terms, stainless steel angle production stood at $8.6B in 2022 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the production volume increased by 17% against the previous year. Over the period under review, global production reached the peak level at $9.9B in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Production By Country

China (2.5M tons) remains the largest stainless steel angle producing country worldwide, accounting for 40% of total volume. Moreover, stainless steel angle production in China exceeded the figures recorded by the second-largest producer, Russia (756K tons), threefold. The third position in this ranking was held by the United States (488K tons), with a 7.8% share.

From 2012 to 2022, the average annual growth rate of volume in China stood at -2.8%. The remaining producing countries recorded the following average annual rates of production growth: Russia (+0.1% per year) and the United States (+5.4% per year).

Imports

World Imports of Angles, Shapes And Sections Of Stainless Steel Or Other Alloy Steel

Global stainless steel angle imports fell to 837K tons in 2022, which is down by -11.5% against 2021 figures. In general, imports recorded a abrupt setback. The most prominent rate of growth was recorded in 2013 with an increase of 20%. Global imports peaked at 2.4M tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, stainless steel angle imports rose notably to $1.7B in 2022. Over the period under review, imports saw a slight downturn. The growth pace was the most rapid in 2021 with an increase of 32%. Over the period under review, global imports reached the peak figure at $2B in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports By Country

In 2022, the United States (137K tons), distantly followed by Canada (66K tons), Mexico (46K tons) and South Korea (45K tons) represented the largest importers of angles, shapes and sections of stainless steel or other alloy steel, together comprising 35% of total imports. Italy (33K tons), Kuwait (29K tons), the UK (29K tons), Germany (27K tons), Lebanon (26K tons), Indonesia (24K tons), Spain (19K tons), Turkey (19K tons) and Singapore (17K tons) took a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to stainless steel angle imports into the United States stood at +3.2%. At the same time, Turkey (+25.9%), Lebanon (+24.6%), Spain (+18.0%), the UK (+16.5%), Mexico (+6.7%), Germany (+3.6%) and Singapore (+3.2%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing importer imported in the world, with a CAGR of +25.9% from 2012-2022. Kuwait and Italy experienced a relatively flat trend pattern. By contrast, Canada (-2.7%), South Korea (-11.8%) and Indonesia (-23.6%) illustrated a downward trend over the same period. While the share of the United States (+10 p.p.), Mexico (+4 p.p.), Kuwait (+3.5 p.p.), the UK (+3.1 p.p.), Lebanon (+2.9 p.p.), Canada (+2.7 p.p.), Turkey (+2.1 p.p.), Spain (+2.1 p.p.), Germany (+2.1 p.p.) and Italy (+1.7 p.p.) increased significantly in terms of the global imports from 2012-2022, the share of South Korea (-4.1 p.p.) and Indonesia (-18.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($240M) constitutes the largest market for imported angles, shapes and sections of stainless steel or other alloy steel worldwide, comprising 14% of global imports. The second position in the ranking was taken by Germany ($109M), with a 6.3% share of global imports. It was followed by Canada, with a 5.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United States stood at +4.0%. The remaining importing countries recorded the following average annual rates of imports growth: Germany (+2.5% per year) and Canada (+0.4% per year).

Imports By Type

In 2022, steel, alloy; angles, shapes and sections (645K tons) represented the largest type of angles, shapes and sections of stainless steel or other alloy steel, creating 77% of total imports. It was distantly followed by steel, stainless (193K tons), committing a 23% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to steel, alloy; angles, shapes and sections imports of stood at -8.1%. At the same time, steel, stainless (+1.4%) displayed positive paces of growth. Moreover, steel, stainless emerged as the fastest-growing type imported in the world, with a CAGR of +1.4% from 2012-2022. From 2012 to 2022, the share of steel, stainless increased by +13 percentage points.

In value terms, steel, alloy; angles, shapes and sections ($914M) and steel, stainless ($832M) were the products with the highest levels of imports in 2022.

Among the main imported products, steel, stainless, with a CAGR of +2.0%, recorded the highest rates of growth with regard to the value of imports, over the period under review.

Import Prices By Type

The average stainless steel angle import price stood at $2,085 per ton in 2022, picking up by 24% against the previous year. Overall, the import price continues to indicate a strong increase. The growth pace was the most rapid in 2017 when the average import price increased by 49%. Over the period under review, average import prices attained the maximum in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major imported products. In 2022, the product with the highest price was steel, stainless ($4,322 per ton), while the price for steel, alloy; angles, shapes and sections amounted to $1,418 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by steel, alloy; angles, shapes and sections (+5.4%).

Import Prices By Country

The average stainless steel angle import price stood at $2,085 per ton in 2022, rising by 24% against the previous year. Overall, the import price recorded a buoyant expansion. The pace of growth appeared the most rapid in 2017 when the average import price increased by 49% against the previous year. Over the period under review, average import prices attained the maximum in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Germany ($4,088 per ton), while Lebanon ($785 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+7.7%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Angles, Shapes And Sections Of Stainless Steel Or Other Alloy Steel

In 2022, shipments abroad of angles, shapes and sections of stainless steel or other alloy steel decreased by -61.7% to 575K tons, falling for the seventh consecutive year after four years of growth. Over the period under review, exports faced a deep slump. The most prominent rate of growth was recorded in 2013 with an increase of 23%. The global exports peaked at 4.5M tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, stainless steel angle exports declined dramatically to $1.5B in 2022. Overall, exports saw a deep reduction. The most prominent rate of growth was recorded in 2021 with an increase of 13% against the previous year. Over the period under review, the global exports reached the maximum at $3.2B in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports By Country

In 2022, China (150K tons), distantly followed by the UK (81K tons), India (50K tons), Germany (42K tons), Italy (37K tons) and Sweden (31K tons) represented the main exporters of angles, shapes and sections of stainless steel or other alloy steel, together comprising 68% of total exports. The following exporters - Turkey (24K tons), the United States (18K tons), Russia (11K tons), Spain (11K tons), Luxembourg (10K tons), Poland (9.9K tons) and Belgium (9.3K tons) - together made up 16% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Turkey (with a CAGR of +20.6%), while the other global leaders experienced more modest paces of growth.

In value terms, the largest stainless steel angle supplying countries worldwide were China ($243M), Germany ($198M) and India ($184M), together comprising 42% of global exports. The UK, Italy, the United States, Sweden, Spain, Turkey, Poland, Belgium, Russia and Luxembourg lagged somewhat behind, together accounting for a further 35%.

Turkey, with a CAGR of +15.3%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Exports By Type

In 2022, steel, alloy; angles, shapes and sections (404K tons) represented the main type of angles, shapes and sections of stainless steel or other alloy steel, comprising 70% of total exports. It was distantly followed by steel, stainless (171K tons), comprising a 30% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to steel, alloy; angles, shapes and sections exports of stood at -18.2%. Steel, stainless experienced a relatively flat trend pattern. From 2012 to 2022, the share of steel, stainless increased by +24 percentage points.

In value terms, the largest types of exported angles, shapes and sections of stainless steel or other alloy steel were steel, stainless ($867M) and steel, alloy; angles, shapes and sections ($637M).

In terms of the main exported products, steel, stainless, with a CAGR of +1.5%, saw the highest growth rate of the value of exports, over the period under review.

Export Prices By Type

The average stainless steel angle export price stood at $2,614 per ton in 2022, jumping by 97% against the previous year. Overall, the export price recorded a remarkable increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exported products. In 2022, the product with the highest price was steel, stainless ($5,063 per ton), while the average price for exports of steel, alloy; angles, shapes and sections totaled $1,577 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by steel, alloy; angles, shapes and sections (+8.3%).

Export Prices By Country

In 2022, the average stainless steel angle export price amounted to $2,614 per ton, growing by 97% against the previous year. Overall, the export price saw a resilient increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Germany ($4,690 per ton), while Luxembourg ($1,134 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+12.4%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform