ASEAN: Cored Arc-Welding Wire Market 2025

Cored Arc-Welding Wire Market Size in ASEAN

The ASEAN cored arc-welding wire market was finally on the rise to reach $X in 2021, after two years of decline. Overall, consumption continues to indicate a perceptible shrinkage. The most prominent rate of growth was recorded in 2018 when the market value increased by 9.6%. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Cored Arc-Welding Wire Production in ASEAN

In value terms, cored arc-welding wire production expanded sharply to $X in 2021 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 18% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a somewhat lower figure.

Cored Arc-Welding Wire Exports

Exports in ASEAN

Cored arc-welding wire exports surged to X tons in 2021, rising by 26% against the year before. Total exports indicated a prominent increase from 2012 to 2021: its volume increased at an average annual rate of +7.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when exports increased by 26% against the previous year. The volume of export peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, cored arc-welding wire exports skyrocketed to $X in 2021. Total exports indicated slight growth from 2012 to 2021: its value increased at an average annual rate of +1.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when exports increased by 34% against the previous year. The level of export peaked in 2021 and is likely to see gradual growth in the immediate term.

Exports by Country

Vietnam represented the main exporter of cored arc-welding wire in ASEAN, with the volume of exports reaching X tons, which was approx. 79% of total exports in 2021. Malaysia (X tons) took the second position in the ranking, followed by Singapore (X tons). All these countries together took approx. 17% share of total exports. Thailand (X tons) followed a long way behind the leaders.

Vietnam was also the fastest-growing in terms of the cored arc-welding wire exports, with a CAGR of +13.5% from 2012 to 2021. At the same time, Thailand (+2.5%) displayed positive paces of growth. Singapore experienced a relatively flat trend pattern. By contrast, Malaysia (-5.1%) illustrated a downward trend over the same period. While the share of Vietnam (+31 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Thailand (-2 p.p.), Singapore (-4.3 p.p.) and Malaysia (-22.8 p.p.) displayed negative dynamics.

In value terms, Vietnam ($X) remains the largest cored arc-welding wire supplier in ASEAN, comprising 66% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 16% share of total exports. It was followed by Singapore, with a 14% share.

In Vietnam, cored arc-welding wire exports increased at an average annual rate of +8.2% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (-4.8% per year) and Singapore (-4.7% per year).

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2021, dropping by -1.8% against the previous year. Over the period under review, the export price recorded a deep slump. The most prominent rate of growth was recorded in 2018 when the export price increased by 6% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+0.3%), while the other leaders experienced a decline in the export price figures.

Cored Arc-Welding Wire Imports

Imports in ASEAN

In 2021, approx. X tons of cored arc-welding wire were imported in ASEAN; increasing by 13% compared with the previous year's figure. The total import volume increased at an average annual rate of +3.0% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, cored arc-welding wire imports surged to $X in 2021. Overall, imports showed a relatively flat trend pattern. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Indonesia (X tons), Thailand (X tons), Vietnam (X tons) and Singapore (X tons) represented roughly 83% of total imports in 2021. Malaysia (X tons) took a 9.3% share (based on physical terms) of total imports, which put it in second place, followed by the Philippines (6%).

From 2012 to 2021, the biggest increases were recorded for the Philippines (with a CAGR of +21.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest cored arc-welding wire importing markets in ASEAN were Thailand ($X), Indonesia ($X) and Singapore ($X), with a combined 69% share of total imports. These countries were followed by Vietnam, Malaysia and the Philippines, which together accounted for a further 30%.

The Philippines, with a CAGR of +25.0%, saw the highest growth rate of the value of imports, among 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 13% against the previous year. Overall, the import price, however, saw a pronounced curtailment. Over the period under review, import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+3.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform