ASEAN: Working Wire Machine Market 2024

Working Wire Machine Market Size in ASEAN

The ASEAN working wire machine market rose modestly to $X in 2021, with an increase of 2.7% against the previous year. The total consumption indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +3.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -8.6% against 2019 indices. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Working Wire Machine Production in ASEAN

In value terms, working wire machine production dropped slightly to $X in 2021 estimated in export price. In general, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 7.5% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2021, production growth remained at a lower figure.

Working Wire Machine Exports

Exports in ASEAN

In 2021, the amount of machines for working wire exported in ASEAN skyrocketed to X units, growing by 39% against 2020 figures. Over the period under review, exports, however, saw a dramatic descent. The most prominent rate of growth was recorded in 2019 when exports increased by 315% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, working wire machine exports skyrocketed to $X in 2021. Overall, exports, however, showed a abrupt slump. The most prominent rate of growth was recorded in 2018 when exports increased by 123% against the previous year. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, Singapore (X units) represented the major exporter of machines for working wire, comprising 61% of total exports. Malaysia (X units) ranks second in terms of the total exports with a 17% share, followed by Thailand (13%) and Vietnam (4.8%). Lao People's Democratic Republic (X units) followed a long way behind the leaders.

Exports from Singapore decreased at an average annual rate of -28.8% from 2012 to 2021. At the same time, Malaysia (+17.4%), Thailand (+7.8%) and Lao People's Democratic Republic (+5.4%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +17.4% from 2012-2021. By contrast, Vietnam (-6.3%) illustrated a downward trend over the same period. Malaysia (+17 p.p.), Thailand (+12 p.p.), Vietnam (+4.1 p.p.) and Lao People's Democratic Republic (+3.6 p.p.) significantly strengthened its position in terms of the total exports, while Singapore saw its share reduced by -36.7% from 2012 to 2021, respectively.

In value terms, Singapore ($X) remains the largest working wire machine supplier in ASEAN, comprising 59% of total exports. The second position in the ranking was held by Malaysia ($X), with a 23% share of total exports. It was followed by Thailand, with a 9.3% share.

In Singapore, working wire machine exports plunged by an average annual rate of -23.9% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Malaysia (+16.4% per year) and Thailand (-1.3% per year).

Export Prices by Country

In 2021, the export price in ASEAN amounted to $X per unit, with an increase of 5.8% against the previous year. Overall, the export price enjoyed a resilient expansion. The growth pace was the most rapid in 2017 an increase of 336%. The level of export peaked at $X per unit in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

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 Vietnam ($X per unit), while Lao People's Democratic Republic ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+6.8%), while the other leaders experienced mixed trends in the export price figures.

Working Wire Machine Imports

Imports in ASEAN

In 2021, approx. X units of machines for working wire were imported in ASEAN; with an increase of 15% against the previous year. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 with an increase of 99% against the previous year. As a result, imports attained the peak of X units. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, working wire machine imports stood at $X in 2021. Over the period under review, imports, however, saw a deep contraction. The pace of growth appeared the most rapid in 2019 when imports increased by 52%. As a result, imports reached the peak of $X. From 2020 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, the Philippines (X units), distantly followed by Singapore (X units), Vietnam (X units), Malaysia (X units), Thailand (X units) and Indonesia (X units) represented the largest importers of machines for working wire, together mixing up 97% of total imports. Myanmar (X units) held a little share of total imports.

From 2012 to 2021, the biggest increases were recorded for Myanmar (with a CAGR of +48.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Thailand ($X) and Vietnam ($X) were the countries with the highest levels of imports in 2021, with a combined 72% share of total imports. These countries were followed by Malaysia, the Philippines, Singapore and Myanmar, which together accounted for a further 28%.

In terms of the main importing countries, Myanmar, with a CAGR of +35.0%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in ASEAN stood at $X per unit in 2021, reducing by -11.8% against the previous year. Over the period under review, the import price recorded a abrupt contraction. The pace of growth was the most pronounced in 2015 when the import price increased by 97%. Over the period under review, import prices attained the peak figure at $X per unit in 2018; however, from 2019 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 Indonesia ($X per unit), while Singapore ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+2.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform