South-Eastern Asia: Flat-Rolled Steel Products Market 2024

Flat-Rolled Steel Products Market Size in South-Eastern Asia

In 2023, the Southeast Asian flat-rolled steel products market decreased by X% to $X, falling for the second consecutive year after two years of growth. The market value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. As a result, consumption attained the peak level of $X. From 2022 to 2023, the growth of the market remained at a somewhat lower figure.

Flat-Rolled Steel Products Production in South-Eastern Asia

In value terms, flat-rolled steel products production rose modestly to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2022 to 2023, production growth remained at a somewhat lower figure.

Flat-Rolled Steel Products Exports

Exports in South-Eastern Asia

In 2023, the amount of flat-rolled products of iron or non-alloy steel exported in South-Eastern Asia reduced to X tons, which is down by X% against 2022. In general, exports showed a perceptible slump. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

In value terms, flat-rolled steel products exports contracted sharply to $X in 2023. Over the period under review, exports continue to indicate a perceptible descent. The growth pace was the most rapid in 2022 with an increase of X%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

Exports by Country

Malaysia represented the key exporting country with an export of around X tons, which resulted at X% of total exports. It was distantly followed by Vietnam (X tons) and Singapore (X tons), together comprising a X% share of total exports. Thailand (X tons) and Indonesia (X tons) followed a long way behind the leaders.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Vietnam (with a CAGR of X%), while the other leaders experienced a decline in the exports figures.

In value terms, Malaysia ($X), Vietnam ($X) and Singapore ($X) were the countries with the highest levels of exports in 2023, together comprising X% of total exports.

Vietnam, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2023, with a decrease of X% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2022 when the export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton, and then declined sharply in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2023, 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.

Flat-Rolled Steel Products Imports

Imports in South-Eastern Asia

In 2023, overseas purchases of flat-rolled products of iron or non-alloy steel decreased by X% to X tons, falling for the fifth year in a row after three years of growth. Overall, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2018; however, from 2019 to 2023, imports stood at a somewhat lower figure.

In value terms, flat-rolled steel products imports dropped markedly to $X in 2023. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by X%. Over the period under review, imports reached the peak figure at $X in 2022, and then declined remarkably in the following year.

Imports by Country

The Philippines (X tons), Thailand (X tons), Indonesia (X tons) and Malaysia (X tons) represented roughly X% of total imports in 2023. Vietnam (X tons) ranks next in terms of the total imports with a X% share, followed by Singapore (X%). Cambodia (X tons) followed a long way behind the leaders.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Cambodia (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest flat-rolled steel products importing markets in South-Eastern Asia were the Philippines ($X), Indonesia ($X) and Thailand ($X), together comprising X% of total imports. Malaysia, Vietnam, Singapore and Cambodia lagged somewhat behind, together comprising a further X%.

Among the main importing countries, Cambodia, 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

The import price in South-Eastern Asia stood at $X per ton in 2023, falling by X% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2022, and then shrank remarkably in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Indonesia ($X per ton), while Singapore ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Cambodia (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform