ASEAN: Aluminium Bar Market 2024

Aluminium Bar Market Size in ASEAN

The ASEAN aluminium bar market was finally on the rise to reach $X in 2021, after two years of decline. The market value increased at an average annual rate of +2.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

Aluminium Bar Production in ASEAN

In value terms, aluminium bar production amounted to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 when the production volume increased by 32% against the previous year. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Aluminium Bar Exports

Exports in ASEAN

In 2021, approx. X tons of aluminium bars, rods and profiles were exported in ASEAN; increasing by 44% on the year before. Over the period under review, exports recorded a buoyant increase. The growth pace was the most rapid in 2018 when exports increased by 51%. The volume of export peaked in 2021 and is expected to retain growth in the near future.

In value terms, aluminium bar exports soared to $X in 2021. In general, exports recorded strong growth. The most prominent rate of growth was recorded in 2018 with an increase of 57%. The level of export peaked in 2021 and is likely to continue growth in the near future.

Exports by Country

The biggest shipments were from Malaysia (X tons), Vietnam (X tons) and Indonesia (X tons), together recording 89% of total export. It was distantly followed by Thailand (X tons), achieving a 7.6% share of total exports. Singapore (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +19.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), Vietnam ($X) and Indonesia ($X) constituted the countries with the highest levels of exports in 2021, with a combined 88% share of total exports.

In terms of the main exporting countries, Vietnam, with a CAGR of +20.7%, recorded 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

The export price in ASEAN stood at $X per ton in 2021, with an increase of 4.7% against the previous year. In general, the export price, however, showed a mild contraction. Over the period under review, the export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Singapore ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+2.9%), while the other leaders experienced mixed trends in the export price figures.

Aluminium Bar Imports

Imports in ASEAN

In 2021, overseas purchases of aluminium bars, rods and profiles were finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. In general, imports saw strong growth. The most prominent rate of growth was recorded in 2015 with an increase of 58% against the previous year. The volume of import peaked at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, aluminium bar imports skyrocketed to $X in 2021. Over the period under review, imports saw a strong increase. The pace of growth appeared the most rapid in 2015 when imports increased by 63%. The level of import peaked at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

The countries with the highest levels of aluminium bar imports in 2021 were Vietnam (X tons), Malaysia (X tons) and Thailand (X tons), together amounting to 75% of total import. Singapore (X tons) ranks next in terms of the total imports with a 9.3% share, followed by Indonesia (5.1%) and the Philippines (4.7%). Cambodia (X tons) held a little share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Cambodia (with a CAGR of +24.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest aluminium bar importing markets in ASEAN were Vietnam ($X), Malaysia ($X) and Thailand ($X), with a combined 75% share of total imports. Singapore, Indonesia, the Philippines and Cambodia lagged somewhat behind, together comprising a further 23%.

Cambodia, with a CAGR of +27.1%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in ASEAN amounted to $X per ton, surging by 5.5% against the previous year. In general, the import price, however, recorded a mild contraction. The most prominent rate of growth was recorded in 2018 when the import price increased by 9.8%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Singapore ($X per ton) and Indonesia ($X per ton), while Cambodia ($X per ton) and Thailand ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cambodia (+2.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform