ASEAN: Market for Ribbed Or Other Deformed Wire Rod Of Non-Alloy Steel 2024

Market Size for Ribbed Or Other Deformed Wire Rod Of Non-Alloy Steel in ASEAN

In 2022, after five years of growth, there was decline in the ASEAN market for ribbed or other deformed wire rod of non-alloy steel, when its value decreased by X% to $X. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2021, and then shrank modestly in the following year.

Production of Ribbed Or Other Deformed Wire Rod Of Non-Alloy Steel in ASEAN

In value terms, deformed non-alloy steel wire rod production rose slightly to $X in 2022 estimated in export price. The total production indicated a mild 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, production decreased by X% against 2020 indices. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Exports of Ribbed Or Other Deformed Wire Rod Of Non-Alloy Steel

Exports in ASEAN

After two years of decline, overseas shipments of ribbed or other deformed wire rod of non-alloy steel increased by X% to X tons in 2022. Overall, exports continue to indicate a strong increase. The growth pace was the most rapid in 2018 with an increase of X%. Over the period under review, the exports reached the maximum at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, deformed non-alloy steel wire rod exports expanded modestly to $X in 2022. In general, exports recorded a prominent increase. The growth pace was the most rapid in 2018 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Vietnam (X tons) and Malaysia (X tons) were the main exporters of ribbed or other deformed wire rod of non-alloy steel in 2022, finishing at approx. X% and X% of total exports, respectively. It was distantly followed by Singapore (X tons), committing a X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Malaysia (with a CAGR of X%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Vietnam ($X), Malaysia ($X) and Singapore ($X) appeared to be the countries with the highest levels of exports in 2022, together comprising X% of total exports.

Malaysia, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, approximately mirroring the previous year. Overall, the export price, however, recorded modest growth. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton, and then reduced in the following year.

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 Vietnam ($X per ton), while Malaysia ($X per ton) was 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 a decline in the export price figures.

Imports of Ribbed Or Other Deformed Wire Rod Of Non-Alloy Steel

Imports in ASEAN

Deformed non-alloy steel wire rod imports declined rapidly to X tons in 2022, falling by X% on the previous year. In general, imports saw a abrupt downturn. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, imports attained the peak of X tons, and then shrank remarkably in the following year.

In value terms, deformed non-alloy steel wire rod imports dropped dramatically to $X in 2022. Over the period under review, imports saw a abrupt curtailment. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of $X, and then fell notably in the following year.

Imports by Country

Singapore prevails in imports structure, accounting for X tons, which was near X% of total imports in 2022. Lao People's Democratic Republic (X tons), Myanmar (X tons) and Malaysia (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to deformed non-alloy steel wire rod imports into Singapore stood at X%. Lao People's Democratic Republic (X%), Malaysia (X%) and Myanmar (X%) illustrated a downward trend over the same period. While the share of Singapore (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Myanmar (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) constitutes the largest market for imported ribbed or other deformed wire rod of non-alloy steel in ASEAN, comprising X% of total imports. The second position in the ranking was taken by Lao People's Democratic Republic ($X), with a X% share of total imports. It was followed by Myanmar, with a X% share.

In Singapore, deformed non-alloy steel wire rod imports plunged by an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Lao People's Democratic Republic (X% per year) and Myanmar (X% per year).

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2022, increasing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The growth pace was the most rapid in 2021 an increase of X%. Over the period under review, import prices reached the peak figure in 2022 and is expected to retain growth in years to come.

Average prices varied noticeably amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Malaysia ($X per ton) and Myanmar ($X per ton), while Singapore ($X per ton) and Lao People's Democratic Republic ($X per ton) were 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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