ASEAN: Market for Hot-Rolled Non-Alloy Steel Wire Rods 2024

Market Size for Hot-Rolled Non-Alloy Steel Wire Rods in ASEAN

The ASEAN market for hot-rolled non-alloy steel wire rods shrank to $X in 2022, with a decrease of X% against the previous year. Overall, consumption saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Hot-Rolled Non-Alloy Steel Wire Rods in ASEAN

In value terms, hot-rolled non-alloy steel wire rod production totaled $X in 2022 estimated in export price. The total production indicated slight growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The growth pace was the most rapid in 2017 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Exports of Hot-Rolled Non-Alloy Steel Wire Rods

Exports in ASEAN

In 2022, approx. X tons of hot-rolled non-alloy steel wire rods were exported in ASEAN; therefore, remained relatively stable against the previous year. In general, exports continue to indicate significant growth. The pace of growth appeared the most rapid in 2019 with an increase of X%. The volume of export peaked at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, hot-rolled non-alloy steel wire rod exports rose slightly to $X in 2022. Over the period under review, exports enjoyed significant growth. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. The level of export peaked in 2022 and is expected to retain growth in years to come.

Exports by Country

Malaysia was the main exporting country with an export of about X tons, which finished at X% of total exports. Indonesia (X tons) took an X% share (based on physical terms) of total exports, which put it in second place, followed by Vietnam (X%). Singapore (X tons) held a relatively small share of total exports.

Malaysia was also the fastest-growing in terms of the hot-rolled non-alloy steel wire rods exports, with a CAGR of X% from 2012 to 2022. At the same time, Indonesia (X%), Vietnam (X%) and Singapore (X%) displayed positive paces of growth. Malaysia (X p.p.) and Indonesia (X p.p.) significantly strengthened its position in terms of the total exports, while Singapore and Vietnam saw its share reduced by X% and X% from 2012 to 2022, respectively.

In value terms, Malaysia ($X) remains the largest hot-rolled non-alloy steel wire rod supplier in ASEAN, comprising X% of total exports. The second position in the ranking was held by Vietnam ($X), with a X% share of total exports. It was followed by Indonesia, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Malaysia stood at X%. The remaining exporting countries recorded the following average annual rates of exports growth: Vietnam (X% per year) and Indonesia (X% per year).

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, rising by X% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Vietnam ($X per ton) and Singapore ($X per ton), while Malaysia ($X per ton) and Indonesia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (X%), while the other leaders experienced mixed trends in the export price figures.

Imports of Hot-Rolled Non-Alloy Steel Wire Rods

Imports in ASEAN

In 2022, approx. X tons of hot-rolled non-alloy steel wire rods were imported in ASEAN; shrinking by X% on the previous year. The total import volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2018 with an increase of X%. The volume of import peaked at X tons in 2021, and then dropped dramatically in the following year.

In value terms, hot-rolled non-alloy steel wire rod imports declined slightly to $X in 2022. Total imports indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by X%. As a result, imports reached the peak of $X, and then contracted in the following year.

Imports by Country

Thailand (X tons), the Philippines (X tons) and Singapore (X tons) represented roughly X% of total imports in 2022. Malaysia (X tons) held an X% share (based on physical terms) of total imports, which put it in second place, followed by Vietnam (X%), Indonesia (X%) and Myanmar (X%).

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by the Philippines (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest hot-rolled non-alloy steel wire rod importing markets in ASEAN were Thailand ($X), the Philippines ($X) and Singapore ($X), with a combined X% share of total imports.

In terms of the main importing countries, the Philippines, with a CAGR of X%, recorded 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.

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per ton, picking up by X% against the previous year. Import price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, hot-rolled non-alloy steel wire rod import price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, import prices attained the maximum in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Indonesia ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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