ASEAN: Ferro-Alloys Market 2024

Ferro-Alloys Market Size in ASEAN

In 2023, the ASEAN ferro-alloys market was finally on the rise to reach $X for the first time since 2020, thus ending a two-year declining trend. The total consumption indicated a modest expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2020 indices. As a result, consumption attained the peak level of $X. From 2021 to 2023, the growth of the market remained at a lower figure.

Ferro-Alloys Production in ASEAN

In value terms, ferro-alloys production rose slightly to $X in 2023 estimated in export price. Over the period under review, production, however, showed resilient growth. The most prominent rate of growth was recorded in 2020 when the production volume increased by X% against the previous year. Over the period under review, production reached the maximum level at $X in 2021; however, from 2022 to 2023, production remained at a lower figure.

Ferro-Alloys Exports

Exports in ASEAN

After four years of growth, shipments abroad of ferro-alloys decreased by X% to X tons in 2023. In general, exports, however, posted a significant increase. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2022, and then contracted notably in the following year.

In value terms, ferro-alloys exports fell rapidly to $X in 2023. Over the period under review, exports, however, showed a significant increase. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. The level of export peaked at $X in 2022, and then fell significantly in the following year.

Exports by Country

In 2023, Indonesia (X tons) was the largest exporter of ferro-alloys, achieving X% of total exports. It was distantly followed by Malaysia (X tons), making up a X% share of total exports.

From 2012 to 2023, average annual rates of growth with regard to ferro-alloys exports from Indonesia stood at X%. At the same time, Malaysia (X%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of X% from 2012-2023. Indonesia (X p.p.) and Malaysia (X p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Indonesia ($X) remains the largest ferro-alloys supplier in ASEAN, comprising X% of total exports. The second position in the ranking was taken by Malaysia ($X), with a X% share of total exports.

In Indonesia, ferro-alloys exports expanded at an average annual rate of X% over the period from 2012-2023.

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2023, shrinking by X% against the previous year. Overall, the export price recorded a perceptible reduction. 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 at $X per ton in 2014; however, from 2015 to 2023, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while Malaysia amounted to $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Indonesia (X%).

Ferro-Alloys Imports

Imports in ASEAN

In 2023, ferro-alloys imports in ASEAN reached X tons, picking up by X% against 2022 figures. In general, imports saw a remarkable increase. The most prominent rate of growth was recorded in 2018 with an increase of X%. The volume of import peaked at X tons in 2021; however, from 2022 to 2023, imports remained at a lower figure.

In value terms, ferro-alloys imports declined to $X in 2023. Over the period under review, imports posted a resilient increase. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2022 to 2023, the growth of imports failed to regain momentum.

Imports by Country

Indonesia was the main importer of ferro-alloys in ASEAN, with the volume of imports amounting to X tons, which was approx. X% of total imports in 2023. Vietnam (X tons) ranks second in terms of the total imports with an X% share, followed by Thailand (X%) and Malaysia (X%). The Philippines (X tons) followed a long way behind the leaders.

Indonesia was also the fastest-growing in terms of the ferro-alloys imports, with a CAGR of X% from 2012 to 2023. At the same time, Vietnam (X%), the Philippines (X%) and Thailand (X%) displayed positive paces of growth. Malaysia experienced a relatively flat trend pattern. While the share of Indonesia (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Malaysia (X p.p.) and Thailand (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Indonesia ($X) constitutes the largest market for imported ferro-alloys in ASEAN, comprising X% of total imports. The second position in the ranking was taken by Vietnam ($X), with a X% share of total imports. It was followed by Thailand, with an X% share.

In Indonesia, ferro-alloys imports expanded at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Vietnam (X% per year) and Thailand (X% per year).

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2023, waning by X% against the previous year. Over the last eleven years, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2014 an increase of X%. Over the period under review, import prices reached the peak figure at $X per ton in 2022, and then fell in the following year.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Indonesia (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform