ASEAN: Market for Iron and Steel Wire 2025

Market Size for Iron and Steel Wire in ASEAN

The ASEAN iron and steel wire market totaled $X in 2021, surging by 13% against the previous year. The market value increased at an average annual rate of +2.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Production of Iron and Steel Wire in ASEAN

In value terms, iron and steel wire production surged to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.7% over the period from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The level of production peaked at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Exports of Iron and Steel Wire

Exports in ASEAN

In 2021, shipments abroad of iron and steel wire decreased by -23.8% to X tons, falling for the fourth year in a row after two years of growth. Overall, exports recorded a pronounced decrease. The growth pace was the most rapid in 2017 with an increase of 11% against the previous year. As a result, the exports attained the peak of X tons. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, iron and steel wire exports fell markedly to $X in 2021. In general, exports showed a slight curtailment. The growth pace was the most rapid in 2017 with an increase of 24% against the previous year. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, Malaysia (X tons) and Thailand (X tons) represented the largest exporters of iron and steel wire in ASEAN, together comprising 79% of total exports. It was distantly followed by Singapore (X tons) and Indonesia (X tons), together achieving a 21% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Indonesia (with a CAGR of +1.1%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, Malaysia ($X), Thailand ($X) and Indonesia ($X) appeared to be the countries with the highest levels of exports in 2021, with a combined 84% share of total exports.

Indonesia, with a CAGR of +4.9%, saw the highest growth rate of the value of exports, among 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, surging by 11% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the export price increased by 21%. The level of export peaked in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+3.8%), while the other leaders experienced mixed trends in the export price figures.

Imports of Iron and Steel Wire

Imports in ASEAN

In 2021, supplies from abroad of iron and steel wire decreased by -14.5% to X tons, falling for the third year in a row after seven years of growth. The total import volume increased at an average annual rate of +1.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 21%. Over the period under review, imports attained the peak figure at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, iron and steel wire imports shrank to $X in 2021. Over the period under review, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when imports increased by 17%. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Thailand represented the largest importer of iron and steel wire in ASEAN, with the volume of imports amounting to X tons, which was approx. 35% of total imports in 2021. Indonesia (X tons) held the second position in the ranking, followed by Malaysia (X tons), the Philippines (X tons) and Myanmar (X tons). All these countries together held near 59% share of total imports. Singapore (X tons) and Cambodia (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Cambodia (with a CAGR of +22.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest iron and steel wire importing markets in ASEAN were Thailand ($X), Indonesia ($X) and Malaysia ($X), with a combined 81% share of total imports. The Philippines, Singapore, Myanmar and Cambodia lagged somewhat behind, together comprising a further 19%.

Among the main importing countries, Cambodia, with a CAGR of +28.3%, recorded the highest rates of growth with regard to 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 2021, the import price in ASEAN amounted to $X per ton, with an increase of 9.6% against the previous year. Over the period under review, the import price, however, continues to indicate a mild downturn. The most prominent rate of growth was recorded in 2018 when the import price increased by 13%. Over the period under review, import prices hit record highs 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 Singapore ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cambodia (+4.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform