Report Update: Apr 13, 2024

South Africa - Forged Bars Of Stainless Steel - Market Analysis, Forecast, Size, Trends And Insights

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Price for Forged Stainless Steel Bar in South Africa - 2023

Price for Forged Stainless Steel Bar in South Africa (CIF) - 2023

In July 2023, the average forged stainless steel bar import price amounted to $3,347 per ton, reducing by -1.7% against the previous month. Over the period under review, the import price saw a mild slump. The most prominent rate of growth was recorded in October 2022 an increase of 16% month-to-month. As a result, import price attained the peak level of $4,704 per ton. From November 2022 to July 2023, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In July 2023, the country with the highest price was Poland ($4,935 per ton), while the price for China ($2,177 per ton) was amongst the lowest.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by India (-2.4%), while the prices for the other major suppliers experienced a decline.

Price for Forged Stainless Steel Bar in South Africa (FOB) - 2023

In July 2023, the average forged stainless steel bar export price amounted to $1,632 per ton, growing by 29% against the previous month. Overall, the export price, however, continues to indicate a perceptible downturn. The pace of growth appeared the most rapid in December 2022 an increase of 137% m-o-m. As a result, the export price reached the peak level of $3,079 per ton. From January 2023 to July 2023, the the average export prices remained at a lower figure.

Prices varied noticeably by the country of destination: the country with the highest price was Democratic Republic of the Congo ($16,380 per ton), while the average price for exports to Lesotho ($695 per ton) was amongst the lowest.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was recorded for supplies to Democratic Republic of the Congo (+3.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Forged Stainless Steel Bar in South Africa

In 2022, forged stainless steel bar imports into South Africa fell sharply to 2.1K tons, with a decrease of -36.4% compared with the year before. Overall, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 144% against the previous year. As a result, imports reached the peak of 3.3K tons, and then shrank dramatically in the following year.

In value terms, forged stainless steel bar imports reduced sharply to $8.9M in 2022. In general, imports, however, saw a prominent increase. The most prominent rate of growth was recorded in 2021 with an increase of 186%. As a result, imports reached the peak of $11M, and then contracted sharply in the following year.

Import of Forged Stainless Steel Bar in South Africa (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
India	3.7	2.5	6.5	7.1	24.3%
China	1.1	0.7	2.2	1.3	5.7%
Others	0.6	0.6	1.8	0.6	0.0%
Total	5.3	3.7	10.6	8.9	18.9%

Top Suppliers of Forged Stainless Steel Bar to South Africa in 2022:

India (1708.6 tons)
China (337.0 tons)

Exports of Forged Stainless Steel Bar in South Africa

Forged stainless steel bar exports from South Africa soared to 3.4K tons in 2022, rising by 28% compared with the year before. Over the period under review, total exports indicated a pronounced increase from 2019 to 2022: its volume increased at an average annual rate of +4.4% 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 +53.6% against 2020 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, forged stainless steel bar exports totaled $4.6M in 2022. Overall, total exports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +16.3% 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 +92.0% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 68% against the previous year. The exports peaked in 2022 and are likely to continue growth in the near future.

Export of Forged Stainless Steel Bar in South Africa (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Namibia	1,243	939	2,675	3,521	41.5%
Swaziland	397	269	360	334	-5.6%
Botswana	682	619	292	222	-31.2%
Democratic Republic of the Congo	117	102	169	126	2.5%
Lesotho	64.5	116	74.1	44.4	-11.7%
Others	430	356	462	360	-5.8%
Total	2,933	2,400	4,032	4,608	16.3%

Top Export Markets for Forged Stainless Steel Bar from South Africa in 2022:

Namibia (2816.6 tons)
Swaziland (209.6 tons)
Botswana (177.9 tons)
Democratic Republic of the Congo (101.3 tons)
Lesotho (25.9 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the market for forged stainless steel bar in South Africa. 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:

South Africa

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in South Africa
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.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
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
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
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
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023