ASEAN: Market for Railway Or Tramway Track Construction Material Of Iron Or Steel 2025

Market Size for Railway Or Tramway Track Construction Material Of Iron Or Steel in ASEAN

In 2021, the ASEAN market for railway or tramway track construction material of iron or steel decreased by -0.6% to $X, falling for the second year in a row after two years of growth. The market value increased at an average annual rate of +1.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Production of Railway Or Tramway Track Construction Material Of Iron Or Steel in ASEAN

In value terms, production of railway or tramway track construction material of iron or steel stood at $X in 2021 estimated in export price. The total production indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +4.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -2.8% against 2019 indices. The pace of growth was the most pronounced in 2019 when the production volume increased by 34%. As a result, production reached the peak level of $X. From 2020 to 2021, production of growth remained at a lower figure.

Exports of Railway Or Tramway Track Construction Material Of Iron Or Steel

Exports in ASEAN

In 2021, overseas shipments of railway or tramway track construction material of iron or steel increased by 20% to X tons, rising for the second year in a row after three years of decline. Overall, exports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of 97%. The volume of export peaked in 2021 and is likely to see gradual growth in years to come.

In value terms, exports of railway or tramway track construction material of iron or steel soared to $X in 2021. Over the period under review, exports continue to indicate a slight expansion. The most prominent rate of growth was recorded in 2016 with an increase of 93% against the previous year. The level of export peaked in 2021 and is expected to retain growth in the near future.

Exports by Country

Thailand represented the key exporting country with an export of around X tons, which amounted to 55% of total exports. Singapore (X tons) took the second position in the ranking, followed by Malaysia (X tons), Indonesia (X tons) and the Philippines (X tons). All these countries together took near 41% share of total exports. Lao People's Democratic Republic (X tons) took a minor share of total exports.

From 2012 to 2021, average annual rates of growth with regard to iron and steel railway construction materials exports from Thailand stood at +20.2%. At the same time, Lao People's Democratic Republic (+45.3%), the Philippines (+7.5%) and Indonesia (+4.4%) displayed positive paces of growth. Moreover, Lao People's Democratic Republic emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +45.3% from 2012-2021. By contrast, Malaysia (-7.0%) and Singapore (-13.4%) illustrated a downward trend over the same period. While the share of Thailand (+44 p.p.), Indonesia (+3.3 p.p.), the Philippines (+2.3 p.p.) and Lao People's Democratic Republic (+2.2 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Malaysia (-10.5 p.p.) and Singapore (-40 p.p.) displayed negative dynamics.

In value terms, Thailand ($X) remains the largest iron and steel railway construction materials supplier in ASEAN, comprising 64% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 13% share of total exports. It was followed by Singapore, with an 8.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Thailand totaled +20.0%. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (-6.7% per year) and Singapore (-16.8% per year).

Export Prices by Country

In 2021, the export price in ASEAN amounted to $X per ton, picking up by 14% against the previous year. In general, the export price recorded a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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 the Philippines ($X per ton), while Lao People's Democratic Republic ($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 (+0.6%), while the other leaders experienced mixed trends in the export price figures.

Imports of Railway Or Tramway Track Construction Material Of Iron Or Steel

Imports in ASEAN

For the third consecutive year, ASEAN recorded decline in supplies from abroad of railway or tramway track construction material of iron or steel, which decreased by -10.2% to X tons in 2021. In general, imports showed a noticeable decline. The pace of growth was the most pronounced in 2018 with an increase of 89% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2021, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of railway or tramway track construction material of iron or steel totaled $X in 2021. Over the period under review, imports recorded a perceptible curtailment. The most prominent rate of growth was recorded in 2018 with an increase of 84% against the previous year. Over the period under review, imports of hit record highs at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Indonesia (X tons) and Vietnam (X tons) represented roughly 56% of total imports in 2021. It was distantly followed by Lao People's Democratic Republic (X tons), Singapore (X tons), Malaysia (X tons) and the Philippines (X tons), together comprising a 37% share of total imports. Thailand (X tons) took a minor share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by the Philippines (with a CAGR of +15.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Vietnam ($X) and Singapore ($X) were the countries with the highest levels of imports in 2021, with a combined 61% share of total imports. The Philippines, Malaysia, Lao People's Democratic Republic and Thailand lagged somewhat behind, together accounting for a further 30%.

The Philippines, with a CAGR of +19.1%, saw the highest rates of growth with regard to the value of imports, among the main importing countries 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 2021, with an increase of 13% against the previous year. In general, the import price, however, saw a slight decrease. The pace of growth appeared the most rapid in 2017 when the import price increased by 14% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was the Philippines ($X per ton), while Lao People's Democratic Republic ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+3.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform