South-Eastern Asia: Market for Articles Of Iron Or Steel 2024

Market Size for Articles Of Iron Or Steel in South-Eastern Asia

In 2022, the Southeast Asian steel and iron articles market increased by X% to $X, rising for the second year in a row after three years of decline. The total consumption indicated a pronounced increase 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, consumption increased by X% against 2020 indices. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market failed to regain momentum.

Production of Articles Of Iron Or Steel in South-Eastern Asia

In value terms, steel and iron articles production shrank to $X in 2022 estimated in export price. The total production indicated a perceptible increase 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 pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, production attained the maximum level at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Exports of Articles Of Iron Or Steel

Exports in South-Eastern Asia

In 2022, steel and iron articles exports in South-Eastern Asia was estimated at X tons, approximately reflecting 2021. Total exports indicated pronounced growth from 2012 to 2022: its volume 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, exports increased by X% against 2017 indices. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. The volume of export peaked in 2022 and is likely to continue growth in the near future.

In value terms, steel and iron articles exports rose modestly to $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the near future.

Exports by Country

Thailand represented the key exporting country with an export of around X tons, which amounted to X% of total exports. Malaysia (X tons) held the second position in the ranking, distantly followed by Vietnam (X tons) and Singapore (X tons). All these countries together took approx. X% share of total exports. Indonesia (X tons) held a minor share of total exports.

Exports from Thailand increased at an average annual rate of X% from 2012 to 2022. At the same time, Vietnam (X%), Malaysia (X%) and Singapore (X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of X% from 2012-2022. By contrast, Indonesia (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Vietnam and Thailand increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) remains the largest steel and iron articles supplier in South-Eastern Asia, comprising X% of total exports. The second position in the ranking was held by Vietnam ($X), with a X% share of total exports. It was followed by Malaysia, with a X% share.

In Thailand, steel and iron articles exports remained relatively stable over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Vietnam (X% per year) and Malaysia (X% per year).

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per ton, remaining constant against the previous year. Overall, the export price, however, continues to indicate a mild shrinkage. The most prominent rate of growth was recorded in 2015 an increase of X%. Over the period under review, the export prices attained the maximum at $X per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

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 Singapore ($X per ton), while Thailand ($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.

Imports of Articles Of Iron Or Steel

Imports in South-Eastern Asia

Steel and iron articles imports rose markedly to X tons in 2022, growing by X% compared with the year before. Over the period under review, imports showed strong growth. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. The volume of import peaked in 2022 and is likely to see steady growth in years to come.

In value terms, steel and iron articles imports surged to $X in 2022. Total imports indicated a resilient increase 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 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, imports attained the peak figure in 2022 and are likely to see steady growth in years to come.

Imports by Country

Thailand was the key importer of articles of iron or steel in South-Eastern Asia, with the volume of imports recording X tons, which was approx. X% of total imports in 2022. Vietnam (X tons) took the second position in the ranking, distantly followed by Malaysia (X tons) and Singapore (X tons). All these countries together held near X% share of total imports. Indonesia (X tons) and the Philippines (X tons) followed a long way behind the leaders.

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

In value terms, Thailand ($X), Vietnam ($X) and Malaysia ($X) constituted the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Singapore, the Philippines and Indonesia lagged somewhat behind, together comprising a further X%.

The Philippines, with a CAGR of X%, recorded 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 South-Eastern Asia amounted to $X per ton, standing approx. at the previous year. Overall, the import price, however, recorded a mild decline. 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 attained the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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 the Philippines ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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