ASEAN: Market for Iron or Steel Cans 2024

Market Size for Iron or Steel Cans in ASEAN

The ASEAN iron or steel can market reached $X in 2021, leveling off at the previous year. The market value increased at an average annual rate of +2.7% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. Over the period under review, the market reached the peak level at $X in 2019; afterwards, it flattened through to 2021.

Production of Iron or Steel Cans in ASEAN

In value terms, iron or steel can production totaled $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.3% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The pace of growth was the most pronounced in 2017 with an increase of 14%. Over the period under review, production reached the peak level at $X in 2019; afterwards, it flattened through to 2021.

Exports of Iron or Steel Cans

Exports in ASEAN

In 2021, approx. X units of iron or steel cans were exported in ASEAN; waning by -4.9% compared with the previous year. In general, exports recorded a noticeable setback. The growth pace was the most rapid in 2014 when exports increased by 15% against the previous year. The volume of export peaked at X units in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, iron or steel can exports expanded significantly to $X in 2021. Over the period under review, exports showed a pronounced shrinkage. The pace of growth was the most pronounced in 2014 when exports increased by 15%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Thailand was the major exporting country with an export of about X units, which accounted for 61% of total exports. It was distantly followed by Malaysia (X units), comprising a 30% share of total exports. The following exporters - Indonesia (X units), Singapore (X units) and the Philippines (X units) - together made up 7.4% of total exports.

Exports from Thailand increased at an average annual rate of +4.3% from 2012 to 2021. At the same time, the Philippines (+13.4%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +13.4% from 2012-2021. By contrast, Malaysia (-5.0%), Indonesia (-16.8%) and Singapore (-26.9%) illustrated a downward trend over the same period. While the share of Thailand (+32 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Malaysia (-3.3 p.p.), Indonesia (-10.4 p.p.) and Singapore (-20.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) remains the largest iron or steel can supplier in ASEAN, comprising 62% of total exports. The second position in the ranking was held by Malaysia ($X), with a 28% share of total exports. It was followed by Indonesia, with a 4.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Thailand amounted to +3.3%. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (-2.5% per year) and Indonesia (-14.3% per year).

Export Prices by Country

In 2021, the export price in ASEAN amounted to $X per unit, growing by 13% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.9%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in Singapore ($X per unit) and the Philippines ($X per unit), while Malaysia ($X per unit) and Thailand ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+7.0%), while the other leaders experienced more modest paces of growth.

Imports of Iron or Steel Cans

Imports in ASEAN

In 2021, the amount of iron or steel cans imported in ASEAN amounted to X units, flattening at 2020. The total import volume increased at an average annual rate of +3.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 with an increase of 18%. The volume of import peaked in 2021 and is likely to see steady growth in the immediate term.

In value terms, iron or steel can imports amounted to $X in 2021. The total import value increased at an average annual rate of +6.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 with an increase of 20%. The level of import peaked in 2021 and is likely to see gradual growth in the immediate term.

Imports by Country

Vietnam represented the largest importer of iron or steel cans in ASEAN, with the volume of imports accounting for X units, which was near 36% of total imports in 2021. It was distantly followed by Thailand (X units), Singapore (X units), the Philippines (X units), Indonesia (X units) and Malaysia (X units), together mixing up a 61% share of total imports. Myanmar (X units) took a relatively small share of total imports.

Imports into Vietnam increased at an average annual rate of +12.5% from 2012 to 2021. At the same time, the Philippines (+12.8%), Indonesia (+6.0%) and Thailand (+2.4%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +12.8% from 2012-2021. By contrast, Malaysia (-3.8%), Singapore (-5.8%) and Myanmar (-6.8%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Vietnam, the Philippines and Indonesia increased by +20, +6.7 and +2.3 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) constitutes the largest market for imported iron or steel cans in ASEAN, comprising 40% of total imports. The second position in the ranking was held by Thailand ($X), with a 15% share of total imports. It was followed by the Philippines, with a 13% share.

In Vietnam, iron or steel can imports expanded at an average annual rate of +14.3% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Thailand (+1.8% per year) and the Philippines (+17.7% per year).

Import Prices by Country

The import price in ASEAN stood at $X per unit in 2021, increasing by 11% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.9%. The growth pace was the most rapid in 2013 when the import price increased by 12%. Over the period under review, import prices attained the peak figure in 2021 and is likely to see steady growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Vietnam ($X per unit), while Singapore ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+4.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform