Asia: Wire And Cable Market 2024

Wire And Cable Market Size in Asia

In 2022, the Asian wire and cable market decreased by X% to $X, falling for the third consecutive year after three years of growth. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Wire And Cable Production in Asia

In value terms, wire and cable production shrank to $X in 2022 estimated in export price. The total production indicated perceptible 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 increased by X% against 2020 indices. The growth pace was the most rapid in 2018 when the production volume increased by X%. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Wire And Cable Exports

Exports in Asia

In 2022, shipments abroad of insulated wire and cable increased by X% to X tons, rising for the second consecutive year after two years of decline. The total export volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of X%. The volume of export peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, wire and cable exports expanded notably to $X in 2022. The total export value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, the exports reached the peak figure in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

China was the largest exporter of insulated wire and cable in Asia, with the volume of exports resulting at X tons, which was near X% of total exports in 2022. Turkey (X tons) ranks second in terms of the total exports with an X% share, followed by South Korea (X%) and Vietnam (X%). The Philippines (X tons), the United Arab Emirates (X tons), India (X tons), Saudi Arabia (X tons), Thailand (X tons), Indonesia (X tons), Hong Kong SAR (X tons), Japan (X tons) and Malaysia (X tons) held a minor share of total exports.

Exports from China increased at an average annual rate of X% from 2012 to 2022. At the same time, the United Arab Emirates (X%), Vietnam (X%), the Philippines (X%), India (X%), Thailand (X%), Turkey (X%), Saudi Arabia (X%) and Indonesia (X%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2022. By contrast, South Korea (X%), Japan (X%), Malaysia (X%) and Hong Kong SAR (X%) illustrated a downward trend over the same period. While the share of Vietnam (X p.p.), the United Arab Emirates (X p.p.) and the Philippines (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of South Korea (X p.p.) and Hong Kong SAR (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest wire and cable supplier in Asia, comprising X% of total exports. The second position in the ranking was taken by Vietnam ($X), with a X% share of total exports. It was followed by Turkey, with a X% share.

In China, wire and cable exports increased at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Vietnam (X% per year) and Turkey (X% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, with an increase of X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2021 when the export price increased by X% against the previous year. The level of export peaked in 2022 and is likely to see steady growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

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

Wire And Cable Imports

Imports in Asia

In 2022, purchases abroad of insulated wire and cable increased by X% to X tons, rising for the second year in a row after two years of decline. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when imports increased by X%. Over the period under review, imports hit record highs at X tons in 2018; afterwards, it flattened through to 2022.

In value terms, wire and cable imports rose slightly to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. The level of import peaked in 2022 and is likely to see steady growth in years to come.

Imports by Country

In 2022, Japan (X tons), followed by the United Arab Emirates (X tons), China (X tons), South Korea (X tons), Kuwait (X tons), Thailand (X tons), Hong Kong SAR (X tons), Vietnam (X tons) and Singapore (X tons) were the major importers of insulated wire and cable, together comprising X% of total imports. The following importers - Indonesia (X tons), the Philippines (X tons), Malaysia (X tons) and Iraq (X tons) - together made up X% of total imports.

From 2012 to 2022, the biggest increases were recorded for the Philippines (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest wire and cable importing markets in Asia were Japan ($X), China ($X) and South Korea ($X), with a combined X% share of total imports. Hong Kong SAR, Vietnam, Thailand, Singapore, the United Arab Emirates, Malaysia, Kuwait, the Philippines, Indonesia and Iraq lagged somewhat behind, together comprising a further X%.

The Philippines, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main importing countries 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 Asia amounted to $X per ton, increasing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The growth pace was the most rapid in 2021 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs in 2022 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while Kuwait ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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