ASEAN: Market for Base Metal Flexible Tubing, Iron Or Steel 2025

Market Size for Base Metal Flexible Tubing, Iron Or Steel in ASEAN

The ASEAN base metal flexible tubing market skyrocketed to $X in 2021, rising by 22% against the previous year. The total consumption indicated a notable increase from 2012 to 2021: its value increased at an average annual rate of +2.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -11.1% against 2017 indices. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market remained at a lower figure.

Production of Base Metal Flexible Tubing, Iron Or Steel in ASEAN

In value terms, base metal flexible tubing production expanded markedly to $X in 2021 estimated in export price. In general, production continues to indicate a remarkable increase. The growth pace was the most rapid in 2019 when the production volume increased by 33%. As a result, production reached the peak level of $X. From 2020 to 2021, production growth remained at a lower figure.

Exports of Base Metal Flexible Tubing, Iron Or Steel

Exports in ASEAN

In 2021, shipments abroad of base metal flexible tubing, iron or steel was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports, however, showed a abrupt curtailment. The pace of growth was the most pronounced in 2013 with an increase of 30% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports remained at a lower figure.

In value terms, base metal flexible tubing exports surged to $X in 2021. Overall, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 47% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Thailand represented the key exporter of base metal flexible tubing, iron or steel in ASEAN, with the volume of exports recording X tons, which was near 56% of total exports in 2021. Singapore (X tons) held a 28% share (based on physical terms) of total exports, which put it in second place, followed by Malaysia (14%). Vietnam (X tons) took a relatively small share of total exports.

From 2012 to 2021, average annual rates of growth with regard to base metal flexible tubing exports from Thailand stood at -7.7%. Singapore (-4.8%), Malaysia (-8.3%) and Vietnam (-10.0%) illustrated a downward trend over the same period. While the share of Singapore (+6.2 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Thailand (-1.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) remains the largest base metal flexible tubing supplier in ASEAN, comprising 68% of total exports. The second position in the ranking was held by Thailand ($X), with a 19% share of total exports. It was followed by Malaysia, with a 7.7% share.

From 2012 to 2021, the average annual growth rate of value in Singapore amounted to +5.0%. In the other countries, the average annual rates were as follows: Thailand (-1.4% per year) and Malaysia (-14.1% per year).

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2021, increasing by 17% against the previous year. Export price indicated a resilient increase from 2012 to 2021: its price increased at an average annual rate of +7.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, base metal flexible tubing export price increased by +54.7% against 2018 indices. The most prominent rate of growth was recorded in 2019 an increase of 30%. Over the period under review, the export prices hit record highs in 2021 and is expected to retain growth in the near future.

Prices varied noticeably country of origin: 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 (+10.3%), while the other leaders experienced more modest paces of growth.

Imports of Base Metal Flexible Tubing, Iron Or Steel

Imports in ASEAN

In 2021, supplies from abroad of base metal flexible tubing, iron or steel was finally on the rise to reach X tons after four years of decline. Overall, imports, however, saw a pronounced decrease. The pace of growth appeared the most rapid in 2014 with an increase of 45%. As a result, imports reached the peak of X tons. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, base metal flexible tubing imports surged to $X in 2021. In general, imports saw a slight increase. The growth pace was the most rapid in 2014 with an increase of 104% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, Thailand (X tons), distantly followed by Indonesia (X tons), the Philippines (X tons), Malaysia (X tons), Singapore (X tons) and Vietnam (X tons) represented the key importers of base metal flexible tubing, iron or steel, together constituting 97% of total imports. Cambodia (X tons) took a relatively small share of total imports.

From 2012 to 2021, the biggest increases were recorded for Cambodia (with a CAGR of +75.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), Indonesia ($X) and Malaysia ($X) were the countries with the highest levels of imports in 2021, with a combined 72% share of total imports. These countries were followed by Thailand, Vietnam, the Philippines and Cambodia, which together accounted for a further 27%.

Cambodia, with a CAGR of +46.8%, 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, remaining stable against the previous year. Import price indicated a tangible expansion from 2012 to 2021: its price increased at an average annual rate of +4.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, base metal flexible tubing import price decreased by -31.5% against 2018 indices. The pace of growth was the most pronounced in 2017 an increase of 46% against the previous year. The level of import peaked at $X per ton in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing 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 (+15.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform