ASEAN: Expanded Metal Market 2024

Expanded Metal Market Size in ASEAN

The ASEAN expanded metal market totaled $X in 2022, surging by 7.9% against the previous year. Overall, consumption continues to indicate a modest increase. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Expanded Metal Production in ASEAN

In value terms, expanded metal production expanded significantly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.4% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 21% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Expanded Metal Exports

Exports in ASEAN

After five years of growth, overseas shipments of iron or steel expanded metal decreased by -17.2% to X tons in 2022. In general, exports, however, continue to indicate prominent growth. The pace of growth appeared the most rapid in 2021 when exports increased by 47% against the previous year. As a result, the exports attained the peak of X tons, and then dropped markedly in the following year.

In value terms, expanded metal exports expanded notably to $X in 2022. Overall, exports, however, continue to indicate a strong increase. The pace of growth was the most pronounced in 2019 with an increase of 73% against the previous year. The level of export peaked in 2022 and is likely to see gradual growth in the immediate term.

Exports by Country

Vietnam represented the main exporting country with an export of around X tons, which finished at 71% of total exports. Singapore (X tons) ranks second in terms of the total exports with an 18% share, followed by Malaysia (10%).

Exports from Vietnam increased at an average annual rate of +9.4% from 2012 to 2022. At the same time, Malaysia (+13.8%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +13.8% from 2012-2022. Singapore experienced a relatively flat trend pattern. While the share of Vietnam (+16 p.p.) and Malaysia (+4.8 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Singapore (-15 p.p.) displayed negative dynamics.

In value terms, Vietnam ($X) remains the largest expanded metal supplier in ASEAN, comprising 75% of total exports. The second position in the ranking was taken by Singapore ($X), with a 22% share of total exports.

In Vietnam, expanded metal exports increased at an average annual rate of +16.5% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Singapore (-1.3% per year) and Malaysia (+2.5% per year).

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, rising by 28% against the previous year. Overall, the export price showed mild growth. The most prominent rate of growth was recorded in 2019 when the export price increased by 51% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+6.4%), while the other leaders experienced a decline in the export price figures.

Expanded Metal Imports

Imports in ASEAN

In 2022, purchases abroad of iron or steel expanded metal decreased by -11.2% to X tons for the first time since 2019, thus ending a two-year rising trend. Total imports indicated a temperate expansion from 2012 to 2022: its volume increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +77.6% against 2015 indices. The growth pace was the most rapid in 2021 with an increase of 25% against the previous year. As a result, imports attained the peak of X tons, and then dropped in the following year.

In value terms, expanded metal imports stood at $X in 2022. Overall, imports, however, posted a strong expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 37% against the previous year. The level of import peaked in 2022 and is likely to see gradual growth in years to come.

Imports by Country

In 2022, Singapore (X tons), distantly followed by Indonesia (X tons), Thailand (X tons), Vietnam (X tons), the Philippines (X tons), Malaysia (X tons) and Myanmar (X tons) represented the largest importers of iron or steel expanded metal, together mixing up 99% of total imports.

From 2012 to 2022, the biggest increases were recorded for Myanmar (with a CAGR of +108.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), Malaysia ($X) and the Philippines ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 66% share of total imports. Vietnam, Thailand, Indonesia and Myanmar lagged somewhat behind, together comprising a further 33%.

In terms of the main importing countries, Myanmar, with a CAGR of +92.3%, 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 2022, the import price in ASEAN amounted to $X per ton, increasing by 14% against the previous year. Over the last decade, it increased at an average annual rate of +4.3%. The pace of growth was the most pronounced in 2013 when the import price increased by 26% against the previous year. The level of import peaked in 2022 and is expected to retain growth in years to come.

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 Malaysia ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+14.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform