Report Update: May 1, 2024

Thailand - Iron or Steel Wire Products - Market Analysis, Forecast, Size, Trends And Insights

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Price for Iron or Steel Wire Product in Thailand - 2023

Price for Iron or Steel Wire Product in Thailand (CIF) - 2023

In September 2023, the average import price for iron or steel wire products amounted to $1,799 per ton, growing by 13% against the previous month. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in December 2022 when the average import price increased by 32% against the previous month. As a result, import price attained the peak level of $2,318 per ton. From January 2023 to September 2023, the average import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In September 2023, the country with the highest price was Japan ($1,743 per ton), while the price for China ($1,551 per ton) was amongst the lowest.

From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by Japan (-0.6%), while the prices for the other major suppliers experienced a decline.

Price for Iron or Steel Wire Product in Thailand (FOB) - 2023

The average export price for iron or steel wire products stood at $1,429 per ton in September 2023, falling by -14.2% against the previous month. In general, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in January 2023 when the average export price increased by 24% month-to-month. As a result, the export price attained the peak level of $2,334 per ton. From February 2023 to September 2023, the the average export prices failed to regain momentum.

Prices varied noticeably by the country of destination: the country with the highest price was Singapore ($25,455 per ton), while the average price for exports to the United States ($484 per ton) was amongst the lowest.

From September 2022 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+28.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Iron or Steel Wire Product in Thailand

For the fourth year in a row, Thailand recorded growth in supplies from abroad of iron or steel wire products, which increased by 30% to 25K tons in 2022. Overall, imports saw a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 74% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

In value terms, iron or steel wire product imports skyrocketed to $54M in 2022. In general, imports posted a significant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Import of Iron or Steel Wire Product in Thailand (Million USD)
COUNTRY	2019	2020	2021	CAGR, 2019-2021
China	10.9	13.2	23.5	46.8%
Japan	4.4	3.0	3.6	-9.5%
Indonesia	0.5	0.3	0.9	34.2%
South Korea	0.9	0.9	0.7	-11.8%
Taiwan (Chinese)	0.7	0.5	0.6	-7.4%
Malaysia	0.6	0.5	0.5	-8.7%
Singapore	1.1	0.2	0.1	-69.8%
Others	3.0	5.8	3.9	14.0%
Total	22.2	24.4	33.8	23.4%

Top Suppliers of Iron or Steel Wire Product to Thailand in 2022:

Singapore (undefinedK tons)
China (14.8K tons)
Japan (1.5K tons)
Indonesia (0.5K tons)
Malaysia (0.5K tons)
Taiwan (Chinese) (0.2K tons)
South Korea (0.2K tons)

Exports of Iron or Steel Wire Product in Thailand

In 2022, the amount of iron or steel wire products exported from Thailand fell to 5.3K tons, reducing by -11.3% against the year before. Overall, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 19%. As a result, the exports reached the peak of 6K tons, and then declined in the following year.

In value terms, iron or steel wire product exports declined markedly to $9.4M in 2022. In general, exports continue to indicate a deep downturn. The pace of growth was the most pronounced in 2021 when exports increased by 25% against the previous year.

Export of Iron or Steel Wire Product in Thailand (Thousand USD)
COUNTRY	2019	2020	2021	CAGR, 2019-2021
Japan	4,470	2,858	3,397	-12.8%
Myanmar	207	197	954	114.7%
Cambodia	415	480	948	51.1%
China	1,814	873	942	-27.9%
United States	450	383	691	23.9%
Australia	782	575	665	-7.8%
Singapore	414	440	571	17.4%
Lao People's Democratic Republic	502	228	447	-5.6%
Malaysia	870	457	434	-29.4%
Indonesia	643	431	345	-26.8%
United Kingdom	5.0	12.7	215	555.7%
Vietnam	265	188	209	-11.2%
United Arab Emirates	1,458	1,237	9.9	-91.8%
Others	883	857	1,669	37.5%
Total	13,178	9,216	11,498	-6.6%

Top Export Markets for Iron or Steel Wire Product from Thailand in 2022:

Japan (2055.3 tons)
Myanmar (730.8 tons)
Cambodia (620.8 tons)
United States (537.9 tons)
Australia (378.5 tons)
Singapore (304.7 tons)
China (262.6 tons)
Lao People's Democratic Republic (202.1 tons)
Indonesia (195.2 tons)
Malaysia (158.6 tons)
United Kingdom (137.7 tons)
Vietnam (117.6 tons)
United Arab Emirates (5.7 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the market for iron or steel wire product in Thailand. 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 25992925 - Finished products of iron/steel wire, snares, traps, etc., fodder ties, animal nose rings, mattress hooks, butchers

Country coverage:

Thailand

Data coverage:

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