ASEAN: Non-Alloy Steel I-Sections Market 2025

Non-Alloy Steel I-Sections Market Size in ASEAN

In 2021, the ASEAN non-alloy steel i-sections market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, consumption, however, saw a deep setback. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Non-Alloy Steel I-Sections Production in ASEAN

In value terms, non-alloy steel i-sections production rose sharply to $X in 2021 estimated in export price. In general, production, however, saw a deep reduction. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Non-Alloy Steel I-Sections Exports

Exports in ASEAN

In 2021, after two years of decline, there was significant growth in overseas shipments of i-sections of non-alloy steel, when their volume increased by 15% to X tons. In general, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when exports increased by 120% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, non-alloy steel i-sections exports skyrocketed to $X in 2021. Over the period under review, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when exports increased by 131%. The level of export peaked in 2021 and is expected to retain growth in the near future.

Exports by Country

Malaysia (X tons) and Singapore (X tons) dominates exports structure, together creating 96% of total exports. The following exporters - Indonesia (X tons) and Vietnam (X tons) - each resulted at a 3.8% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Malaysia (with a CAGR of +18.7%), while the other leaders experienced a decline in the exports figures.

In value terms, the largest non-alloy steel i-sections supplying countries in ASEAN were Singapore ($X), Malaysia ($X) and Vietnam ($X), together accounting for 98% of total exports.

Malaysia, with a CAGR of +18.8%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

In 2021, the export price in ASEAN amounted to $X per ton, with an increase of 37% against the previous year. In general, the export price recorded a mild increase. The growth pace was the most rapid in 2017 when the export price increased by 48% against the previous year. Over the period under review, the export prices attained the maximum in 2021 and is expected to retain growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+2.1%), while the other leaders experienced mixed trends in the export price figures.

Non-Alloy Steel I-Sections Imports

Imports in ASEAN

For the third year in a row, ASEAN recorded decline in supplies from abroad of i-sections of non-alloy steel, which decreased by -7.1% to X tons in 2021. Over the period under review, imports recorded a perceptible reduction. The pace of growth was the most pronounced in 2016 when imports increased by 39% against the previous year. As a result, imports reached the peak of X tons. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, non-alloy steel i-sections imports surged to $X in 2021. Overall, imports continue to indicate a slight reduction. The pace of growth appeared the most rapid in 2018 when imports increased by 36% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Malaysia (X tons) represented the major importer of i-sections of non-alloy steel, making up 62% of total imports. Singapore (X tons) ranks second in terms of the total imports with a 24% share, followed by Indonesia (7.2%). The following importers - the Philippines (X tons) and Myanmar (X tons) - together made up 4.8% of total imports.

From 2012 to 2021, average annual rates of growth with regard to non-alloy steel i-sections imports into Malaysia stood at -2.4%. At the same time, the Philippines (+39.3%) and Myanmar (+4.4%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +39.3% from 2012-2021. By contrast, Indonesia (-3.8%) and Singapore (-4.0%) illustrated a downward trend over the same period. While the share of the Philippines (+3.2 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Singapore (-3.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Malaysia ($X) constitutes the largest market for imported i-sections of non-alloy steel in ASEAN, comprising 60% of total imports. The second position in the ranking was taken by Singapore ($X), with a 27% share of total imports. It was followed by Indonesia, with an 8% share.

From 2012 to 2021, the average annual growth rate of value in Malaysia stood at -2.5%. The remaining importing countries recorded the following average annual rates of imports growth: Singapore (+2.2% per year) and Indonesia (-2.6% per year).

Import Prices by Country

In 2021, the import price in ASEAN amounted to $X per ton, surging by 42% against the previous year. Import price indicated mild growth from 2012 to 2021: its price increased at an average annual rate of +1.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Indonesia ($X per ton), while Myanmar ($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 (+6.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform