ASEAN: Market for Iron or Steel Wire Products 2025

Market Size for Iron or Steel Wire Products in ASEAN

The ASEAN market for iron or steel wire products reduced rapidly to $X in 2022, with a decrease of X% against the previous year. Over the period under review, consumption recorded a abrupt decline. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Production of Iron or Steel Wire Products in ASEAN

In value terms, iron or steel wire product production shrank modestly to $X in 2022 estimated in export price. Over the period under review, production saw a abrupt curtailment. The most prominent rate of growth was recorded in 2021 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Iron or Steel Wire Products

Exports in ASEAN

In 2022, after two years of decline, there was significant growth in overseas shipments of iron or steel wire products, when their volume increased by X% to X tons. Total exports indicated strong growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, iron or steel wire product exports fell to $X in 2022. Total exports indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by X% against 2019 indices. The most prominent rate of growth was recorded in 2019 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2022, Vietnam (X tons) represented the key exporter of iron or steel wire products, creating X% of total exports. Indonesia (X tons) ranks second in terms of the total exports with a X% share, followed by Singapore (X%), Malaysia (X%) and Thailand (X%).

Vietnam was also the fastest-growing in terms of the iron or steel wire products exports, with a CAGR of X% from 2012 to 2022. At the same time, Singapore (X%), Malaysia (X%) and Indonesia (X%) displayed positive paces of growth. By contrast, Thailand (X%) illustrated a downward trend over the same period. While the share of Vietnam (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Malaysia (X p.p.), Thailand (X p.p.) and Indonesia (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Indonesia ($X), Singapore ($X) and Malaysia ($X) were the countries with the highest levels of exports in 2022, together accounting for X% of total exports.

In terms of the main exporting countries, Singapore, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2022, with a decrease of X% against the previous year. Overall, the export price saw a noticeable shrinkage. The most prominent rate of growth was recorded in 2018 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2021, and then shrank dramatically in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (X%), while the other leaders experienced mixed trends in the export price figures.

Imports of Iron or Steel Wire Products

Imports in ASEAN

In 2022, purchases abroad of iron or steel wire products decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. Total imports indicated perceptible growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 when imports increased by X%. The volume of import peaked at X tons in 2021, and then fell rapidly in the following year.

In value terms, iron or steel wire product imports fell significantly to $X in 2022. Total imports indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. The level of import peaked at $X in 2021, and then contracted notably in the following year.

Imports by Country

The purchases of the five major importers of iron or steel wire products, namely Thailand, Malaysia, Singapore, the Philippines and Indonesia, represented more than two-thirds of total import. Vietnam (X tons) took the next position in the ranking, followed by Myanmar (X tons). All these countries together held approx. X% share of total imports.

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

In value terms, Thailand ($X), Singapore ($X) and Malaysia ($X) constituted the countries with the highest levels of imports in 2022, together accounting for X% of total imports. Indonesia, the Philippines, Vietnam and Myanmar lagged somewhat behind, together comprising a further X%.

Among the main importing countries, the Philippines, with a CAGR of X%, recorded the highest growth rate of 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

The import price in ASEAN stood at $X per ton in 2022, rising by X% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2016 an increase of X%. Over the period under review, import prices attained the maximum at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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 2022, the most notable rate of growth in terms of prices was attained by Singapore (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform