ASEAN: Market for Iron Or Steel Towers And Lattice Masts 2024

Market Size for Iron Or Steel Towers And Lattice Masts in ASEAN

After three years of growth, the ASEAN iron or steel towers market decreased by -23.4% to $X in 2021. In general, consumption showed a perceptible setback. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Production of Iron Or Steel Towers And Lattice Masts in ASEAN

In value terms, iron or steel towers production fell to $X in 2021 estimated in export price. Overall, production saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 with an increase of 19%. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Exports of Iron Or Steel Towers And Lattice Masts

Exports in ASEAN

In 2021, iron or steel towers exports in ASEAN soared to X tons, increasing by 44% against the previous year's figure. Over the period under review, exports saw buoyant growth. The most prominent rate of growth was recorded in 2018 when exports increased by 95%. The volume of export peaked in 2021 and is likely to see steady growth in the immediate term.

In value terms, iron or steel towers exports skyrocketed to $X in 2021. In general, exports posted a prominent increase. The growth pace was the most rapid in 2018 with an increase of 96% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in the near future.

Exports by Country

The shipments of the four major exporters of iron or steel towers and lattice masts, namely Vietnam, Malaysia, Thailand and Indonesia, represented more than two-thirds of total export.

From 2012 to 2021, the biggest increases were recorded for Malaysia (with a CAGR of +35.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), Malaysia ($X) and Indonesia ($X) appeared to be the countries with the highest levels of exports in 2021, with a combined 82% share of total exports.

Among the main exporting countries, Malaysia, with a CAGR of +31.3%, 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 mixed trends in the exports figures.

Export Prices by Country

In 2021, the export price in ASEAN amounted to $X per ton, rising by 5.9% against the previous year. In general, the export price, however, recorded a deep slump. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (-3.1%), while the other leaders experienced a decline in the export price figures.

Imports of Iron Or Steel Towers And Lattice Masts

Imports in ASEAN

In 2021, iron or steel towers imports in ASEAN fell to X tons, reducing by -14% on 2020. The total import volume increased at an average annual rate of +3.3% 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 was the most pronounced in 2018 with an increase of 40%. As a result, imports attained the peak of X tons. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, iron or steel towers imports fell to $X in 2021. The total import value increased at an average annual rate of +2.4% 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 2018 when imports increased by 29% against the previous year. The level of import peaked at $X in 2020, and then dropped in the following year.

Imports by Country

In 2021, the Philippines (X tons) represented the major importer of iron or steel towers and lattice masts, making up 53% of total imports. Myanmar (X tons) ranks second in terms of the total imports with an 18% share, followed by Lao People's Democratic Republic (12%) and Cambodia (4.8%). The following importers - Vietnam (X tons), Malaysia (X tons) and Thailand (X tons) - together made up 9.4% of total imports.

The Philippines was also the fastest-growing in terms of the iron or steel towers and lattice masts imports, with a CAGR of +17.9% from 2012 to 2021. At the same time, Vietnam (+11.0%), Myanmar (+9.7%), Lao People's Democratic Republic (+9.1%) and Cambodia (+2.4%) displayed positive paces of growth. By contrast, Malaysia (-5.1%) and Thailand (-22.0%) illustrated a downward trend over the same period. From 2012 to 2021, the share of the Philippines, Myanmar, Lao People's Democratic Republic and Vietnam increased by +37, +7.4, +4.7 and +2.1 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Philippines ($X) constitutes the largest market for imported iron or steel towers and lattice masts in ASEAN, comprising 62% of total imports. The second position in the ranking was taken by Myanmar ($X), with an 11% share of total imports. It was followed by Lao People's Democratic Republic, with an 8.4% share.

From 2012 to 2021, the average annual growth rate of value in the Philippines totaled +22.7%. The remaining importing countries recorded the following average annual rates of imports growth: Myanmar (+8.9% per year) and Lao People's Democratic Republic (+7.5% per year).

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2021, increasing by 5.3% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 14% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Vietnam ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+4.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform