India - Forged Bars Of Stainless Steel - Market Analysis, Forecast, Size, Trends And Insights
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View PricingPrice for Forged Stainless Steel Bar in India - 2023
Contents:
- Price for Forged Stainless Steel Bar in India (FOB) - 2023
- Price for Forged Stainless Steel Bar in India (CIF) - 2022
- Exports of Forged Stainless Steel Bar in India
- Imports of Forged Stainless Steel Bar in India
Price for Forged Stainless Steel Bar in India (FOB) - 2023
The average forged stainless steel bar export price stood at $3,093 per ton in July 2023, with a decrease of -1.9% against the previous month. Over the period under review, the export price recorded a perceptible downturn. The most prominent rate of growth was recorded in April 2023 an increase of 9.5% month-to-month. The export price peaked at $3,989 per ton in July 2022; however, from August 2022 to July 2023, the export prices stood at a somewhat lower figure.
Average prices varied somewhat for the major external markets. In July 2023, the countries with the highest prices were Argentina ($3,450 per ton) and the Netherlands ($3,317 per ton), while the average price for exports to Malaysia ($2,540 per ton) and Poland ($2,639 per ton) were amongst the lowest.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia (-1.0%), while the prices for the other major destinations experienced a decline.
Price for Forged Stainless Steel Bar in India (CIF) - 2022
In 2022, the average forged stainless steel bar import price amounted to $4,971 per ton, increasing by 21% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. As a result, import 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 supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($7,869 per ton), while the price for Japan ($2,086 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 (+6.6%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Forged Stainless Steel Bar in India
Forged stainless steel bar exports from India soared to 74K tons in 2022, jumping by 29% against the year before. The total export volume increased at an average annual rate of +5.0% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
In value terms, forged stainless steel bar exports soared to $232M in 2022. Over the period under review, total exports indicated buoyant growth from 2019 to 2022: its value increased at an average annual rate of +13.2% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +89.3% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 42% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.
Export of Forged Stainless Steel Bar in India (Million USD) | |||||
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COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
South Korea | 18.1 | 18.7 | 21.3 | 27.2 | 14.5% |
Belgium | 11.6 | 7.4 | 18.4 | 23.5 | 26.5% |
Netherlands | 12.6 | 15.4 | 13.5 | 17.4 | 11.4% |
Turkey | 7.4 | 9.5 | 13.1 | 16.7 | 31.2% |
Italy | 9.8 | 5.2 | 12.7 | 16.2 | 18.2% |
Germany | 16.3 | 4.2 | 10.9 | 13.9 | -5.2% |
Poland | 8.3 | 4.1 | 10.1 | 12.9 | 15.8% |
Malaysia | 4.1 | 3.9 | 7.6 | 9.7 | 33.2% |
Ukraine | 10.6 | 5.2 | 6.3 | 9.3 | -4.3% |
Russia | 3.5 | 4.2 | 6.6 | 8.4 | 33.9% |
South Africa | 4.5 | 3.2 | 5.9 | 7.5 | 18.6% |
Brazil | 5.9 | 6.7 | 4.8 | 7.3 | 7.4% |
Mexico | 4.1 | 4.3 | 4.8 | 6.1 | 14.2% |
Others | 42.7 | 30.5 | 38.1 | 55.3 | 9.0% |
Total | 160 | 122 | 174 | 232 | 13.2% |
Top Export Markets for Forged Stainless Steel Bar from India in 2022:
- South Korea (8.8K tons)
- Netherlands (6.2K tons)
- Belgium (6.2K tons)
- Turkey (5.4K tons)
- Italy (4.9K tons)
- Germany (4.5K tons)
- Poland (4.0K tons)
- Malaysia (3.3K tons)
- Brazil (3.0K tons)
- Ukraine (2.7K tons)
- Russia (2.7K tons)
- South Africa (2.2K tons)
- Mexico (2.0K tons)
Imports of Forged Stainless Steel Bar in India
In 2022, after two years of decline, there was significant growth in supplies from abroad of forged bars of stainless steel, when their volume increased by 17% to 3.1K tons. Over the period under review, imports, however, faced a deep downturn.
In value terms, forged stainless steel bar imports surged to $15M in 2022. In general, imports, however, saw a deep setback.
Import of Forged Stainless Steel Bar in India (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Sweden | 2.8 | 3.5 | 2.7 | 3.1 | 3.5% |
United States | 2.6 | 1.9 | 1.4 | 2.1 | -6.9% |
Italy | 3.7 | 0.8 | 1.4 | 2.0 | -18.5% |
Taiwan (Chinese) | 2.6 | 1.1 | 1.0 | 1.6 | -14.9% |
Germany | 1.3 | 1.0 | 1.4 | 1.4 | 2.5% |
France | 2.0 | 1.1 | 0.3 | 1.2 | -15.7% |
Japan | 0.3 | 0.2 | 0.7 | 0.8 | 38.7% |
Spain | 1.2 | 0.1 | 0.1 | 0.5 | -25.3% |
Netherlands | 0.1 | 0.1 | 0.4 | 0.4 | 58.7% |
Others | 3.8 | 2.1 | 1.5 | 2.2 | -16.7% |
Total | 20.4 | 11.9 | 10.9 | 15.4 | -8.9% |
Top Suppliers of Forged Stainless Steel Bar to India in 2022:
- Sweden (530.9 tons)
- Italy (461.8 tons)
- Japan (372.6 tons)
- United States (371.5 tons)
- Taiwan (Chinese) (297.2 tons)
- Germany (183.8 tons)
- France (183.2 tons)
- Spain (158.1 tons)
- Netherlands (137.6 tons)
This report provides an in-depth analysis of the market for forged stainless steel bar in India. 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 24106450 - Forged bars, of stainless steel
Country coverage:
- India
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in India
- 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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This report provides an in-depth analysis of the global market for forged stainless steel bar.
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In February 2023, the forged stainless steel bar price stood at $3,450 per ton (FOB, India), waning by -4.1% against the previous month.
In July 2022, the stainless steel angle price amounted to $4,177 per ton (FOB, India), with an increase of 15% against the previous month.
In November of 2022, the price of hot-rolled steel bars and rods was $1,941 per ton, FOB India, down 5.5% from the previous month.
Global demand for forged stainless steel bar is forecasted to increase over the next seven years, with the market volume expected to reach 4.3M tons and value to reach $22.1B by 2030. China leads in consumption and production, while India and the United States also play significant roles in the market. Import and export prices and trends are analyzed, with India emerging as a major exporter of forged stainless steel bars.
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