Asia-Pacific's Flat Cold-Rolled Steel Coils Market to Reach 54M tons and $48.3B by 2035 - News and Statistics - IndexBox

Get instant access to more than 2 million reports, dashboards, and datasets on the IndexBox Platform.

IndexBox has just published a new report: Asia-Pacific - Flat Cold-Rolled Steel in Coils - Market Analysis, Forecast, Size, Trends And Insights.

The demand for flat cold-rolled steel coils in Asia-Pacific is on the rise, leading to an anticipated increase in market performance over the next decade. The market volume is expected to grow at a CAGR of +0.5% to 54 million tons by 2035, with a corresponding increase in market value to $48.3 billion. This growth is fueled by various factors contributing to the market's expansion in the region.

Driven by rising demand for flat cold-rolled steel coils in Asia-Pacific, the market is expected to start an upward consumption trend over the next decade. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +0.5% for the period from 2024 to 2035, which is projected to bring the market volume to 54M tons by the end of 2035.

In value terms, the market is forecast to increase with an anticipated CAGR of +1.5% for the period from 2024 to 2035, which is projected to bring the market value to $48.3B (in nominal wholesale prices) by the end of 2035.

In 2024, the amount of flat cold-rolled steel in coils consumed in Asia-Pacific declined to 52M tons, which is down by -2.2% against the previous year's figure. Over the period under review, consumption recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the consumption volume increased by 4.4%. The volume of consumption peaked at 58M tons in 2017; however, from 2018 to 2024, consumption stood at a somewhat lower figure.

The revenue of the flat cold-rolled steel coils market in Asia-Pacific declined slightly to $40.9B in 2024, waning by -2.4% 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, showed a relatively flat trend pattern. The level of consumption peaked at $42.6B in 2022; however, from 2023 to 2024, consumption failed to regain momentum.

The country with the largest volume of flat cold-rolled steel coils consumption was China (29M tons), accounting for 56% of total volume. Moreover, flat cold-rolled steel coils consumption in China exceeded the figures recorded by the second-largest consumer, India (11M tons), threefold. The third position in this ranking was taken by Japan (3.9M tons), with a 7.6% share.

From 2013 to 2024, the average annual growth rate of volume in China was relatively modest. The remaining consuming countries recorded the following average annual rates of consumption growth: India (+1.9% per year) and Japan (-4.6% per year).

In value terms, China ($22.7B) led the market, alone. The second position in the ranking was held by India ($8.8B). It was followed by Japan.

From 2013 to 2024, the average annual rate of growth in terms of value in China was relatively modest. In the other countries, the average annual rates were as follows: India (+3.0% per year) and Japan (-3.5% per year).

The countries with the highest levels of flat cold-rolled steel coils per capita consumption in 2024 were South Korea (47 kg per person), Taiwan (Chinese) (41 kg per person) and Japan (32 kg per person).

From 2013 to 2024, the biggest increases were recorded for South Korea (with a CAGR of +2.3%), while consumption for the other leaders experienced mixed trends in the per capita consumption figures.

In 2024, the amount of flat cold-rolled steel in coils produced in Asia-Pacific declined modestly to 58M tons, flattening at the year before. In general, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 5.3%. Over the period under review, production reached the maximum volume at 62M tons in 2017; however, from 2018 to 2024, production remained at a lower figure.

In value terms, flat cold-rolled steel coils production dropped slightly to $47.6B in 2024 estimated in export price. The total output value increased at an average annual rate of +1.5% from 2013 to 2024; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of 44%. As a result, production reached the peak level of $48.5B. From 2022 to 2024, production growth remained at a lower figure.

China (33M tons) remains the largest flat cold-rolled steel coils producing country in Asia-Pacific, comprising approx. 57% of total volume. Moreover, flat cold-rolled steel coils production in China exceeded the figures recorded by the second-largest producer, India (11M tons), threefold. South Korea (5M tons) ranked third in terms of total production with an 8.8% share.

In China, flat cold-rolled steel coils production remained relatively stable over the period from 2013-2024. In the other countries, the average annual rates were as follows: India (+2.4% per year) and South Korea (-0.8% per year).

For the third consecutive year, Asia-Pacific recorded decline in overseas purchases of flat cold-rolled steel in coils, which decreased by -6.9% to 5.2M tons in 2024. Overall, imports continue to indicate a deep downturn. The growth pace was the most rapid in 2021 when imports increased by 6.7% against the previous year. Over the period under review, imports hit record highs at 9.9M tons in 2013; however, from 2014 to 2024, imports remained at a lower figure.

In value terms, flat cold-rolled steel coils imports dropped to $3.8B in 2024. In general, imports saw a abrupt decline. The growth pace was the most rapid in 2021 with an increase of 50%. The level of import peaked at $7.4B in 2013; however, from 2014 to 2024, imports stood at a somewhat lower figure.

The purchases of the eight major importers of flat cold-rolled steel in coils, namely Japan, Thailand, Taiwan (Chinese), China, Malaysia, Indonesia, Vietnam and India, represented more than two-thirds of total import. The Philippines (204K tons) took a minor share of total imports.

From 2013 to 2024, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Taiwan (Chinese) (with a CAGR of +11.7%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest flat cold-rolled steel coils importing markets in Asia-Pacific were Japan ($698M), Thailand ($574M) and Malaysia ($437M), with a combined 45% share of total imports. China, Taiwan (Chinese), Indonesia, India, Vietnam and the Philippines lagged somewhat behind, together comprising a further 42%.

In terms of the main importing countries, Taiwan (Chinese), with a CAGR of +9.4%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 0.5mm or more but not exceeding 1mm represented the key type of flat cold-rolled steel in coils in Asia-Pacific, with the volume of imports recording 2.6M tons, which was approx. 50% of total imports in 2024. It was distantly followed by iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness exceeding 1mm but less than 3mm (1.6M tons) and iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of less than 0.5mm (0.9M tons), together committing a 49% share of total imports.

From 2013 to 2024, the most notable rate of growth in terms of purchases, amongst the main imported products, was attained by iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 3mm or more (with a CAGR of -3.9%), while imports for the other products experienced a decline in the imports figures.

In value terms, iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 0.5mm or more but not exceeding 1mm ($1.9B), iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness exceeding 1mm but less than 3mm ($1.2B) and iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of less than 0.5mm ($692M) appeared to be the products with the highest levels of imports in 2024, together accounting for 98% of total imports. These products were followed by iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 3mm or more, which accounted for a further 1.5%.

Among the main imported products, iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 3mm or more, with a CAGR of -3.6%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other products experienced a decline in the imports figures.

In 2024, the import price in Asia-Pacific amounted to $734 per ton, waning by -7.5% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the import price increased by 41%. Over the period under review, import prices attained the maximum at $943 per ton in 2022; however, from 2023 to 2024, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major imported products. In 2024, major imported products recorded the following prices: in iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of less than 0.5mm ($795 per ton) and iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 3mm or more ($755 per ton), while the price for iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 0.5mm or more but not exceeding 1mm ($718 per ton) and iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness exceeding 1mm but less than 3mm ($725 per ton) were amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of less than 0.5mm (+0.6%), while the other products experienced mixed trends in the import price figures.

The import price in Asia-Pacific stood at $734 per ton in 2024, reducing by -7.5% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 41% against the previous year. The level of import peaked at $943 per ton in 2022; however, from 2023 to 2024, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2024, major importing countries recorded the following prices: in Malaysia ($899 per ton) and Thailand ($826 per ton), while Taiwan (Chinese) ($614 per ton) and Vietnam ($639 per ton) were amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Malaysia (+1.2%), while the other leaders experienced more modest paces of growth.

In 2024, exports of flat cold-rolled steel in coils in Asia-Pacific reached 11M tons, increasing by 2.8% against 2023 figures. Overall, exports, however, recorded a slight decline. The pace of growth was the most pronounced in 2021 when exports increased by 42% against the previous year. Over the period under review, the exports reached the maximum at 15M tons in 2014; however, from 2015 to 2024, the exports failed to regain momentum.

In value terms, flat cold-rolled steel coils exports contracted slightly to $7.9B in 2024. Over the period under review, exports, however, recorded a slight slump. The most prominent rate of growth was recorded in 2021 when exports increased by 120%. As a result, the exports attained the peak of $12B. From 2022 to 2024, the growth of the exports remained at a lower figure.

China represented the main exporter of flat cold-rolled steel in coils in Asia-Pacific, with the volume of exports finishing at 4.5M tons, which was near 41% of total exports in 2024. South Korea (2.8M tons) took the second position in the ranking, distantly followed by Japan (1.5M tons), Taiwan (Chinese) (1.1M tons) and India (0.5M tons). All these countries together held near 54% share of total exports. Vietnam (295K tons) followed a long way behind the leaders.

From 2013 to 2024, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by China (with a CAGR of +3.7%), while the other leaders experienced a decline in the exports figures.

In value terms, the largest flat cold-rolled steel coils supplying countries in Asia-Pacific were China ($2.8B), South Korea ($2.1B) and Japan ($1.1B), with a combined 76% share of total exports.

Among the main exporting countries, China, with a CAGR of +3.6%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 0.5mm or more but not exceeding 1mm (5.3M tons) and iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness exceeding 1mm but less than 3mm (3.9M tons) represented the major types of flat cold-rolled steel in coils in 2024, accounting for near 48% and 36% of total exports, respectively. It was distantly followed by iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of less than 0.5mm (1.7M tons), committing a 16% share of total exports.

From 2013 to 2024, the biggest increases were recorded for iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness exceeding 1mm but less than 3mm (with a CAGR of +0.4%), while shipments for the other products experienced a decline in the exports figures.

In value terms, the largest types of exported flat cold-rolled steel in coils were iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 0.5mm or more but not exceeding 1mm ($3.7B), iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness exceeding 1mm but less than 3mm ($2.8B) and iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of less than 0.5mm ($1.4B), with a combined 99% share of total exports.

In terms of the main exported products, iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness exceeding 1mm but less than 3mm, with a CAGR of +0.8%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other products experienced mixed trends in the exports figures.

In 2024, the export price in Asia-Pacific amounted to $721 per ton, dropping by -3.8% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the export price increased by 55% against the previous year. Over the period under review, the export prices hit record highs at $927 per ton in 2022; however, from 2023 to 2024, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exported products. In 2024, major exported products recorded the following prices: in iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 3mm or more ($784 per ton) and iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of less than 0.5mm ($784 per ton), while the average price for exports of iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness exceeding 1mm but less than 3mm ($707 per ton) and iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 0.5mm or more but not exceeding 1mm ($709 per ton) were amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 3mm or more (+1.0%), while the other products experienced more modest paces of growth.

The export price in Asia-Pacific stood at $721 per ton in 2024, dropping by -3.8% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 55%. The level of export peaked at $927 per ton in 2022; however, from 2023 to 2024, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2024, major exporting countries recorded the following prices: in Vietnam ($920 per ton) and Taiwan (Chinese) ($904 per ton), while China ($622 per ton) and India ($744 per ton) were amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Vietnam (+2.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the market for flat cold-rolled steel coils in Asia-Pacific. 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.

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:

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.

Making Data-Driven Decisions to Grow Your Business

A Quick Overview of Market Performance

Understanding the Current State of The Market and Its Prospects

Finding New Products to Diversify Your Business

Choosing the Best Countries to Establish Your Sustainable Supply Chain

Choosing the Best Countries to Boost Your Exports

The Latest Trends and Insights into The Industry

The Largest Importers on The Market and How They Succeed

The Largest Exporters on The Market and How They Succeed

The Largest Producers on The Market and Their Profiles

The Largest Markets And Their Profiles