ASEAN: Office Metal Staple Market 2024

Office Metal Staple Market Size in ASEAN

The ASEAN office metal staple market was estimated at $X in 2022, growing by 1.6% against the previous year. The total consumption indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +14.5% against 2020 indices. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Office Metal Staple Production in ASEAN

In value terms, office metal staple production dropped to $X in 2022 estimated in export price. The total production indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +4.9% against 2020 indices. The pace of growth was the most pronounced in 2016 when the production volume increased by 49%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Office Metal Staple Exports

Exports in ASEAN

In 2022, overseas shipments of base metal staples in strips for use in offices decreased by -36.7% to X tons for the first time since 2018, thus ending a three-year rising trend. Overall, exports, however, saw a buoyant expansion. The growth pace was the most rapid in 2020 when exports increased by 128%. The volume of export peaked at X tons in 2021, and then dropped sharply in the following year.

In value terms, office metal staple exports declined significantly to $X in 2022. Over the period under review, exports, however, showed tangible growth. The growth pace was the most rapid in 2021 when exports increased by 109% against the previous year. As a result, the exports reached the peak of $X, and then contracted rapidly in the following year.

Exports by Country

Thailand represented the largest exporter of base metal staples in strips for use in offices in ASEAN, with the volume of exports accounting for X tons, which was approx. 68% of total exports in 2022. It was distantly followed by Malaysia (X tons) and Vietnam (X tons), together mixing up a 27% share of total exports. The following exporters - Singapore (X tons) and Cambodia (X tons) - together made up 5% of total exports.

Exports from Thailand increased at an average annual rate of +30.5% from 2012 to 2022. At the same time, Cambodia (+69.2%) displayed positive paces of growth. Moreover, Cambodia emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +69.2% from 2012-2022. Vietnam and Malaysia experienced a relatively flat trend pattern. By contrast, Singapore (-7.9%) illustrated a downward trend over the same period. While the share of Thailand (+57 p.p.) and Cambodia (+1.7 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Vietnam (-6.9 p.p.), Singapore (-13.9 p.p.) and Malaysia (-36 p.p.) displayed negative dynamics.

In value terms, Thailand ($X) remains the largest office metal staple supplier in ASEAN, comprising 56% of total exports. The second position in the ranking was held by Malaysia ($X), with a 28% share of total exports. It was followed by Vietnam, with a 7.5% share.

In Thailand, office metal staple exports expanded at an average annual rate of +24.1% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (-2.4% per year) and Vietnam (-0.8% per year).

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, picking up by 9.1% against the previous year. Over the period under review, the export price, however, continues to indicate a perceptible curtailment. The pace of growth was the most pronounced in 2018 an increase of 22%. As a result, the export price attained the peak level of $X per ton. From 2019 to 2022, 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 ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cambodia (+7.2%), while the other leaders experienced mixed trends in the export price figures.

Office Metal Staple Imports

Imports in ASEAN

In 2022, overseas purchases of base metal staples in strips for use in offices increased by 2.4% to X tons, rising for the second consecutive year after two years of decline. In general, imports enjoyed a remarkable increase. The growth pace was the most rapid in 2021 with an increase of 22%. The volume of import peaked in 2022 and is likely to see steady growth in the immediate term.

In value terms, office metal staple imports expanded significantly to $X in 2022. Overall, imports saw a remarkable increase. The most prominent rate of growth was recorded in 2017 with an increase of 39% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in years to come.

Imports by Country

Indonesia represented the major importing country with an import of about X tons, which accounted for 54% of total imports. Thailand (X tons) held a 16% share (based on physical terms) of total imports, which put it in second place, followed by Vietnam (8.4%), Malaysia (8%) and the Philippines (8%). Myanmar (X tons) and Singapore (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to office metal staple imports into Indonesia stood at +14.9%. At the same time, Myanmar (+29.2%), Vietnam (+14.5%), the Philippines (+12.0%), Malaysia (+7.4%) and Thailand (+3.0%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +29.2% from 2012-2022. By contrast, Singapore (-7.0%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Indonesia, Vietnam and Myanmar increased by +20, +2.9 and +2.1 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Indonesia ($X) constitutes the largest market for imported base metal staples in strips for use in offices in ASEAN, comprising 54% of total imports. The second position in the ranking was held by Thailand ($X), with a 16% share of total imports. It was followed by Vietnam, with an 11% share.

In Indonesia, office metal staple imports increased at an average annual rate of +15.9% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Thailand (+2.9% per year) and Vietnam (+8.5% per year).

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2022, with an increase of 8.7% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the import price increased by 19% against the previous year. As a result, import price attained the peak level of $X per ton. From 2020 to 2022, the import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Singapore ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+2.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform