ASEAN: Concrete Reinforcing Bar Market 2024

Concrete Reinforcing Bar Market Size in ASEAN

The ASEAN concrete reinforcing bar market dropped to $X in 2022, shrinking by -5.6% against the previous year. The total consumption indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -18.6% against 2018 indices. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Concrete Reinforcing Bar Production in ASEAN

In value terms, concrete reinforcing bar production shrank modestly to $X in 2022 estimated in export price. Overall, production, however, enjoyed a remarkable increase. The pace of growth was the most pronounced in 2018 with an increase of 56%. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Concrete Reinforcing Bar Exports

Exports in ASEAN

In 2022, exports of concrete reinforcing bars in ASEAN soared to X tons, picking up by 28% compared with 2021 figures. In general, exports posted a buoyant expansion. The growth pace was the most rapid in 2021 with an increase of 39% against the previous year. The volume of export peaked in 2022 and is likely to see gradual growth in years to come.

In value terms, concrete reinforcing bar exports skyrocketed to $X in 2022. Overall, exports saw prominent growth. The pace of growth was the most pronounced in 2021 with an increase of 89% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

Exports by Country

In 2022, Malaysia (X tons) was the major exporter of concrete reinforcing bars, making up 54% of total exports. Vietnam (X tons) took the second position in the ranking, distantly followed by Thailand (X tons) and Singapore (X tons). All these countries together held near 46% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Malaysia (with a CAGR of +27.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), Vietnam ($X) and Thailand ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined 94% share of total exports.

In terms of the main exporting countries, Malaysia, with a CAGR of +29.0%, recorded the highest rates of growth with regard to 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 2022, rising by 1.7% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the export price increased by 37%. Over the period under review, the export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Singapore ($X per ton) and Vietnam ($X per ton), while Malaysia ($X per ton) and Thailand ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+1.0%), while the other leaders experienced mixed trends in the export price figures.

Concrete Reinforcing Bar Imports

Imports in ASEAN

In 2022, after three years of decline, there was significant growth in purchases abroad of concrete reinforcing bars, when their volume increased by 22% to X tons. In general, imports, however, saw a mild setback. The growth pace was the most rapid in 2013 when imports increased by 54% against the previous year. The volume of import peaked at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, concrete reinforcing bar imports skyrocketed to $X in 2022. Over the period under review, imports saw a relatively flat trend pattern. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

Singapore represented the main importing country with an import of around X tons, which accounted for 40% of total imports. Thailand (X tons) ranks second in terms of the total imports with a 24% share, followed by Indonesia (8.5%), Vietnam (8.4%), Myanmar (7.2%) and Malaysia (5.9%). Lao People's Democratic Republic (X tons) held a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for Lao People's Democratic Republic (with a CAGR of +36.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), Thailand ($X) and Vietnam ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 74% share of total imports. Indonesia, Malaysia, Myanmar and Lao People's Democratic Republic lagged somewhat behind, together accounting for a further 23%.

In terms of the main importing countries, Lao People's Democratic Republic, with a CAGR of +37.5%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per ton, with an increase of 8.8% against the previous year. Import price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, concrete reinforcing bar import price increased by +61.7% against 2020 indices. The pace of growth appeared the most rapid in 2021 when the import price increased by 49%. The level of import peaked in 2022 and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Thailand ($X per ton), while Myanmar ($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 (+1.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform