South-Eastern Asia: Market for Hot-Rolled Non-Alloy Steel Wire Rods 2024

Market Size for Hot-Rolled Non-Alloy Steel Wire Rods in South-Eastern Asia

The Southeast Asian market for hot-rolled non-alloy steel wire rods fell to $X in 2022, declining by X% against the previous year. Overall, consumption continues to indicate a relatively flat trend pattern. As a result, consumption attained 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 South-Eastern Asia

In value terms, hot-rolled non-alloy steel wire rod production stood at $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. Over the period under review, production attained the peak level at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

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Exports of Hot-Rolled Non-Alloy Steel Wire Rods

Exports in South-Eastern Asia

In 2022, exports of hot-rolled non-alloy steel wire rods in South-Eastern Asia amounted to X tons, approximately reflecting the previous year's figure. Over the period under review, exports showed significant growth. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. The volume of export peaked at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, hot-rolled non-alloy steel wire rod exports rose to $X in 2022. Overall, exports posted a significant expansion. The growth pace was the most rapid in 2018 when exports increased by X%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Malaysia was the largest exporter of hot-rolled non-alloy steel wire rods in South-Eastern Asia, with the volume of exports amounting to X tons, which was approx. X% of total exports in 2022. Indonesia (X tons) ranks second in terms of the total exports with an X% share, followed by Vietnam (X%). Singapore (X tons) followed a long way behind the leaders.

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. From 2012 to 2022, the share of Malaysia and Indonesia increased by X and X percentage points, respectively.

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

In Malaysia, hot-rolled non-alloy steel wire rod exports expanded 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 Indonesia (X% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2022, rising by X% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 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 South-Eastern Asia

In 2022, hot-rolled non-alloy steel wire rod imports in South-Eastern Asia shrank sharply to X tons, which is down by X% on 2021. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, imports attained the peak figure at X tons in 2021, and then shrank significantly in the following year.

In value terms, hot-rolled non-alloy steel wire rod imports contracted slightly to $X in 2022. Total imports indicated a perceptible expansion 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 appeared the most rapid in 2021 with an increase of X%. As a result, imports reached the peak of $X, and then dropped 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) took 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 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, Thailand ($X), the Philippines ($X) and Singapore ($X) were the countries with the highest levels of imports in 2022, with a combined X% share of total imports.

In terms of the main importing countries, the Philippines, with a CAGR of X%, saw the highest growth rate of 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 2022, rising by X% against the previous year. Import price indicated a modest expansion 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 pace of growth was the most pronounced in 2021 when the import price increased by X%. The level of import peaked in 2022 and is expected to retain growth in the near future.

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 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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