Thailand - Iron Or Steel Stranded Wire, Ropes And Cables - Market Analysis, Forecast, Size, Trends And Insights
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View PricingThailand's Export of Steel Stranded Wire Experiences a Slight Decline, Reaching $359M in 2023
Thailand Steel Stranded Wire Exports
In 2023, after three years of growth, there was decline in overseas shipments of iron or steel stranded wire, ropes and cables, when their volume decreased by -3.8% to 184K tons. Overall, total exports indicated a strong increase from 2013 to 2023: its volume increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 with an increase of 33%. Over the period under review, the exports reached the peak figure at 192K tons in 2022, and then dropped modestly in the following year.
In value terms, steel stranded wire exports contracted to $359M (IndexBox estimates) in 2023. In general, exports, however, enjoyed resilient growth. The pace of growth was the most pronounced in 2021 with an increase of 39% against the previous year. Over the period under review, the exports attained the peak figure at $394M in 2022, and then fell in the following year.
| COUNTRY | Export Value of Steel Stranded Wire in Thailand (million USD) | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
| United States | 31.8 | 27.2 | 26.6 | 25.7 | 20.1 | 30.3 | 31.8 | 55.8 | 95.1 | 137 | 86.3 |
| India | 1.4 | 4.7 | 5.5 | 7.9 | 10.1 | 16.1 | 14.7 | 16.9 | 35.2 | 42.8 | 59.4 |
| Netherlands | 2.3 | 1.4 | 1.5 | 2.5 | 4.3 | 6.4 | 6.5 | 10.6 | 31.7 | 30.6 | 29.0 |
| Canada | 9.2 | 6.2 | 5.0 | 0.6 | 1.4 | 7.7 | 9.2 | 9.0 | 7.2 | 7.4 | 26.9 |
| Vietnam | 8.0 | 8.4 | 10.2 | 8.4 | 13.9 | 21.5 | 17.4 | 17.8 | 23.8 | 19.8 | 18.7 |
| Australia | 23.3 | 21.1 | 18.9 | 18.0 | 22.7 | 37.8 | 28.6 | 27.0 | 26.1 | 13.8 | 10.4 |
| Germany | 0.3 | 0.8 | 0.4 | 0.5 | 0.3 | 1.4 | 1.7 | 1.3 | 2.2 | 8.9 | 10.3 |
| China | 15.2 | 15.9 | 19.0 | 22.8 | 23.0 | 15.4 | 9.9 | 8.3 | 7.5 | 8.4 | 8.2 |
| France | 8.1 | 7.0 | 8.3 | 9.8 | 9.9 | 10.9 | 8.2 | 9.9 | 9.1 | 11.1 | 7.8 |
| Others | 49.6 | 56.6 | 51.5 | 55.8 | 73.0 | 93.6 | 76.2 | 69.8 | 76.9 | 114 | 102 |
| Total | 149 | 149 | 147 | 152 | 178 | 241 | 204 | 226 | 315 | 394 | 359 |
Exports by Country
India (43K tons), the United States (26K tons) and Vietnam (16K tons) were the main destinations of steel stranded wire exports from Thailand, with a combined 46% share of total exports.
From 2013 to 2023, the biggest increases were recorded for India (with a CAGR of +56.4%), while shipments for the other leaders experienced more modest paces of growth.
In value terms, the United States ($86M), India ($59M) and the Netherlands ($29M) were the largest markets for steel stranded wire exported from Thailand worldwide, together comprising 49% of total exports.
In terms of the main countries of destination, India, with a CAGR of +45.7%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.
Export Prices by Country
In 2023, the steel stranded wire price stood at $1,946 per ton (FOB, Thailand), dropping by -5.5% against the previous year. In general, export price indicated a moderate expansion from 2013 to 2023: its price increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, steel stranded wire export price increased by +49.5% against 2020 indices. The pace of growth was the most pronounced in 2021 when the average export price increased by 27%. The export price peaked at $2,059 per ton in 2022, and then shrank in the following year.
There were significant differences in the average prices for the major external markets. In 2023, amid the top suppliers, the country with the highest price was the Netherlands ($4,278 per ton), while the average price for exports to Malaysia ($923 per ton) was amongst the lowest.
From 2013 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+7.2%), while the prices for the other major destinations experienced more modest paces of growth.
This report provides an in-depth analysis of the steel stranded wire market in Thailand. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 25931130 - Iron or steel stranded wire, ropes and cables (including stranded wires and wire ropes with or without attached fittings not electrically insulated) (excluding electrically insulated)
Country coverage:
- Thailand
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Thailand
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2024
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2024
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2024
- Market Volume, In Physical Terms, 2012–2024
- Market Value, 2012–2024
- Per Capita Consumption In 2012-2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country Of Origin, 2012–2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country Of Destination, 2012–2024
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2024
- Market Value, 2012–2024
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
- Trade Balance, In Physical Terms, 2012-2024
- Trade Balance, In Value Terms, 2012-2024
- Per Capita Consumption, 2012-2024
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2024
- Production, In Value Terms, 2012–2024
- Imports, In Physical Terms, 2012–2024
- Imports, In Value Terms, 2012–2024
- Imports, In Physical Terms, By Country, 2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country Of Origin, 2012–2024
- Exports, In Physical Terms, 2012–2024
- Exports, In Value Terms, 2012–2024
- Exports, In Physical Terms, By Country, 2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country Of Destination, 2012–2024
