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Global Steel market [2016-2023] by Asia Pacific
By Asia Pacific, the market is segmented into Asia Pacific, China, Indonesia, India, Japan, South Korea, Rest of Asia Pacific, and Australia and New Zealand (2016-2023)
Author: Wantstats Research TeamSource: Wantstats Repository
| Label | Asia Pacific | China | Indonesia | India | Japan | South Korea | Rest of Asia Pacific | Australia and New Zealand |
|---|---|---|---|---|---|---|---|---|
| 2016 | 533.2 USD Bn | 363.4 USD Bn | 6.4 USD Bn | 44.1 USD Bn | 33.8 USD Bn | 29.4 USD Bn | 52.5 USD Bn | 3.5 USD Bn |
| 2017 | 570 USD Bn | 389.5 USD Bn | 6.9 USD Bn | 47 USD Bn | 35.9 USD Bn | 31.2 USD Bn | 55.9 USD Bn | 3.7 USD Bn |
| 2018 | 609.5 USD Bn | 417.3 USD Bn | 7.3 USD Bn | 50.2 USD Bn | 38 USD Bn | 33.2 USD Bn | 59.5 USD Bn | 3.9 USD Bn |
| 2019 | 626.2 USD Bn | 429.7 USD Bn | 7.5 USD Bn | 51.5 USD Bn | 38.7 USD Bn | 33.9 USD Bn | 60.8 USD Bn | 4 USD Bn |
| 2020 | 643.9 USD Bn | 442.8 USD Bn | 7.8 USD Bn | 52.8 USD Bn | 39.5 USD Bn | 34.7 USD Bn | 62.2 USD Bn | 4.1 USD Bn |
| 2021 | 665 USD Bn | 458.4 USD Bn | 8 USD Bn | 54.5 USD Bn | 40.4 USD Bn | 35.6 USD Bn | 63.9 USD Bn | 4.2 USD Bn |
| 2022 | 687 USD Bn | 474.5 USD Bn | 8.3 USD Bn | 56.1 USD Bn | 41.4 USD Bn | 36.6 USD Bn | 65.7 USD Bn | 4.3 USD Bn |
| 2023 | 709.8 USD Bn | 491.3 USD Bn | 8.6 USD Bn | 57.9 USD Bn | 42.4 USD Bn | 37.6 USD Bn | 67.6 USD Bn | 4.4 USD Bn |
Data Source: Wantstats Repository
Market Dynamics
China accounted for the largest market share in 2017 in the Asia Pacific steel market, and is expected to reach USD 491.30 Billion in 2023 from USD 389.50 Billion in 2017. However, Indonesia is the fastest growing market, which is expected to grow at a CAGR of 3.33% during the forecast period 2018 - 2023. structural steel segment accounted for the largest market share in 2017, this market is expected to reach USD 385.60 Billion in 2023 from USD 304.10 Billion in 2017. This market is projected to grow at a CAGR of 3.40% during the forecast period from 2018 - 2023. However, structural steel segment is the fastest growing market, which is expected to grow at a CAGR of 3.40% during the forecast period 2018 - 2023. building and construction segment accounted for the largest market share in 2017, this market is expected to reach USD 356.30 Billion in 2023 from USD 286.20 Billion in 2017. This market is projected to grow at a CAGR of 3.09% during the forecast period from 2018 - 2023.
However, electrical appliances segment is the fastest growing market, which is expected to grow at a CAGR of 3.65% during the forecast period 2018 - 2023. flat steel segment accounted for the larger market share in 2017, this market is expected to reach USD 520.20 Billion in 2023 from USD 435.50 Billion in 2017. This market is projected to grow at a CAGR of 2.37% during the forecast period from 2018 - 2023. However, long steel segment is the fastest growing market, which is expected to grow at a CAGR of 5.25% during the forecast period 2018 - 2023.
Research Methodology
Figures reflect Wantstats’ original market research and forecasting models, compiled as part of the Wantstats research archive and published in 2023.
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Akif Moroglu
Strategy & Business Development Director, Dogan Holding
We got the report in time, we really thank you for your support in this process. I also thank to all of your team as they did a great job.
Noah Malgeri
Co-Founder, Mojave Rail Fabrication Limited
This is really good guys. Excellent work on a tight deadline. I will continue to use you going forward and recommend you to others. Nice job.
Michael Robert
Manager, JavolVision
Thanks, I am so happy that we worked together. Maybe we still can work together in the future.
Joseph Aguayo
Sales Operations & Pricing Manager, Intel
Thanks. It's been a pleasure working with you, please use me as reference with any other Intel employees.
Bong Lau
Sales Leader, Bamberg
We bought your "2025 report" in 2020. Everything is fine and very good.
Peter Groot Koerkamp
Account and Business Manager, EFS-Holland BV
Thanks for sending the report it gives us a good global view of the Betaïne market.
Younghwan Choi
Senior Retail Manager, LG Chem
We found the report very insightful! we found your research firm very helpful. I'm sending this email to secure our future business.
Mark Irwin
Management Consultant, Level 21
I am very pleased with how market segments have been defined in a relevant way for my purposes (such as "Portable Freezers & refrigerators" and "last-mile"). In general the report is well structured. Thanks very much for your efforts.
Rob Kooiker
Group Product Manager HVAC & Fire Protection GMA, Rockwool
I have been reading the first document or the study, the Global HVAC and FP market report 2021 till 2026. Must say, good info! I have not gone in depth at all parts, but got a good indication of the data inside!
Jason Lee
R&D Director, Seojin
Thanks for your great support. Appreciate it. Well received report. It helps us to understand market well. We're planning other area of survey in the future, let's keep in touch.
Akif Moroglu
Strategy & Business Development Director, Dogan Holding
We got the report in time, we really thank you for your support in this process. I also thank to all of your team as they did a great job.